We receive advertising fees from the brands we review that affect the ranking and scoring of such brands.
Advertiser Disclosure
OB_D_M_logo_chime

Chime Reviews

9.4

bestfor-icon Improving Credit Score

andrewo
Written by Andrew Omalley

About Chime | Read More

9.0

LS Score

9.6

Credibility

9.2

Support

9.6

Accessibility

Visit site
Opening Hours Opening Hours drop-down-btn
Mon - Sun 24/7
Contact Information Contact Information drop-down-btn
  • support@chime.com
  • (844) 244-6363
Social Media Social Media drop-down-btn

Chime Online Banking Review

Chime offers three different account options to consumers, a checking account, a savings account, and a credit builder option. This review will break down each of these products so you can figure out if they’re going to be a nice fit for your situation.

Chime Online Banking Highlight

No minimum

Min Deposit

60,000+

ATM Network

None

Other Fees

Online Banking Savings

No minimum

Min Deposit

Min 2%

Min APY Savings

Online Banking Checking

No minimum

Min Deposit

Pros & Cons

drop-down-btn
  • con-icon No monthly fees or minimum balance requirement
  • con-icon People can repair their credit history
  • con-icon Access to 60,000+ fee-free ATMs
  • con-icon User-friendly mobile app
  • con-icon No overdraft fee
  • con-icon No physical branches
  • con-icon Daily and weekly maximum limits

Account types

drop-down-btn
  • Checking
  • Savings
  • Money Market Deposit Account (MMDA)

APY's

Account 1 Year 3 Years 5 Years
Chime Savings Account 2% 2% 2%
Chime Checking Account
Secured Chime Credit Builder Visa® Credit Card

Features Benefits & Rewards

Chime Fees

  • No monthly fees
  • Allows people to build their credit safely
  • No minimum balance requirement
  • No maintenance fees
  • No deposit fees
  • No overdraft fees

Features & Benefits

  • Online Banking Safety: Online banks are safe, using security measures like multi-factor authentication and encryption. Ensure the bank is FDIC-insured for up to $250,000.
  • Mobile Banking Apps: Offer comprehensive services like account management, mobile check deposits, and fee-free transfers. They should work on all smartphones and include budgeting tools.
  • Early Direct Deposit: Allow early access to paychecks, enhancing convenience.
  • ATM Withdrawals: Online banks often provide free or reimbursed ATM withdrawals through network partnerships, though cash deposits might not be supported.
  • Automatic Savings: Features like automatic transfers to savings accounts or rounding up purchases to save the change are common. Some banks also allocate a portion of direct deposits into savings.
  • Credit-Building Features: Look for banks offering tools to help build credit, such as secured credit cards and features that report to credit bureaus.

Opening an Account With Chime

One of Chime’s aims was to make its offering as user-friendly as possible. The website outlines how it takes just two minutes to create a new bank account online. Anyone who is at least 18 years old and is a US citizen or permanent resident will be able to apply.

State Availability

- Available in all states

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.

faq-icon

FAQ’s

Is Chime a bank?

Chime is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank or Stride Bank, N.A.

Is my account FDIC insured?

Yes, all deposits are FDIC insured up to $250,000 per depositor.

How do I withdraw money from my Chime account?

There are several options for sending and receiving money. You can withdraw funds using your debit card from Chime’s free network of 60,000+ ATMs, withdraw money from non-network ATMs for a $2.50 fee, or withdraw money at a participating retailer, such as 7-Eleven or Walmart.

Customer Support

Chime provides a toll-free number on its website for customer support and the choice to communicate with them via email for non-urgent issues. We called Chime customer support at 5:30 am Pacific and were quickly connected to a live person.

In Conclusion

Chime’s customer service is responsive, and the company has branded itself well as an alternative to traditional banks. Its major selling points are its 24/7/365 customer service and lack of account fees and minimums. Chime appears to be a viable choice for those interested in doing all of their personal banking online.

Brand Disclaimer

Disclosre: You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.