Chime offers one checking account option.
Every Chime member starts with this account.
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It does offer a fairly unique credit builder account connected to the Chime Credit Builder Secured Visa Credit Card.
A Chime account does not require a no credit check and there are no annual fees.
Youll just make a deposit of any amount (no minimum), which becomes your credit limit.
Did you know?
If thats what youre looking for, Chime makes the grade for online checking accounts and savings accounts.
Is Chime Right for You?
Heres our take on the best things and the not-so-best things about opening a Chime account.
First off, Chime is not technically a bank but rather an online money management system.
What makes a good financial platform or institution is different for everyone.
Chimes deposit accounts are held and FDIC-insured by its partner banks, Stride Bank, N.A.
and The Bancorp Bank, both chartered and federally regulated banks in the U.S.
Your money is safe with a Chime account.
Its accounts are backed by partner banks, Stride Bank, N.A.
and The Bancorp Bank, which offer FDIC insurance for your balances up to $250,000.
And the platform gives you access to real-time transaction alerts and instant debit card freeze.
Chime is a financial tech company that has partnered with Bankcorp Bank, N.A.
and Stride Bank N.A.
Chime offers accounts and cards, but is not a bank itself.
It has an app and may seem like a bank, but its partners conduct the actual bank processes.
Information from former Penny Hoarder contributor Jamie Cattanach is included in this report.
Freelancer Michele Becker contributed to this report.
*Chime is a financial technology company, not a bank.
Banking services provided by The Bancorp Bank, N.A.
or Stride Bank, N.A., Members FDIC.
The disclosed APY is accurate as of October, 25th, 2022.
No minimum balance required.
Must have $0.01 in savings to earn interest.
Visit National Rates and Rate Caps to learn more.
4Sometimes instant transfers can be delayed.
The recipient must use a valid debit card to claim funds.
kindly see the back of your Chime debit card for your issuing bank.
Your limit will be displayed to you within the Chime mobile app.
You will receive notice of any changes to your limit.
Your limit may change at any time, at Chimes discretion.
SpotMe wont cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions.
See Terms and Conditions.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
