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Chime Spending Account

in Checking Accounts from Chime · Member fdic

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Chime Spending Account

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in Checking Accounts from Chime · Member FDIC

SuperMoney Net Recommendation Score +59

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +59, equating to 4.2 on a 5 point rating scale.

+59

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

61 users recommend
7 users are unsure
13 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
ATM Fee: Out-of-Network $2.50
Minimum Balance to Avoid Monthly Fee $0
APY (Annual Percentage Yield) 0.01%
Number of Reviews 81

Chime Spending Account Review

Chime Spending Account is offered by Chime, a bank founded in 2012 and based in Wilmington, DE. Chime Spending Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly fee. This account does not charge a monthly maintenance fee.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Chime Spending Account does not charge fees on ATM transactions within its network but there is a fee of up to $2.50 for out-of-network ATM transactions.
  • Free bill pay. Pay your bills to practically anyone in the United States through Chime.
  • Early direct deposit. Get access to you paycheck funds faster If you set up a direct deposit to this account.
  • Soft credit pull. This bank will not perform a hard credit pull when you open a checking account.
Chime Spending Account Pros & Cons
Pros Cons
  • Chime's SpotMe allows you to overdraft your account by up to $20.
  • Any negative balances are taken out of your next direct deposit.
  • Access your paycheck 2 days earlier if you set up direct deposit.
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Online-only account with no access to physical branches.
  • Not FDIC-insured.
  • Charges a higher than average fee on out-of-network ATM transactions.
Chime Spending Account FAQ

Are checking accounts from Chime federally insured?

Yes, your Chime checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Chime Spending Account offer?

Chime Spending Account Rates & Terms
Description
APY (Annual Percentage Yield) 0.01%

Chime Spending Account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

What are the account minimums for Chime Spending Account?

Chime Spending Account does not require a minimum initial deposit.

Chime Spending Account Account Minimums
Description Amount
Minimum Opening Deposit $0

What fees does Chime Spending Account charge?

The good news is that this account does not have a monthly service charge.

Chime Spending Account Fees
Description
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 0%
Monthly Fee $0
NSF Fee $0
Online Bill Pay Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $0
Returned Deposit Fee (International) $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
ATM Fee: Out-of-Network $2.50

What features and perks does Chime Spending Account offer?

This account includes the following features:

  • Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Get paid early - If you fund your account with a payroll direct deposit and request this service, you can collect your salary early.
  • Mobile Banking Services - Chime Spending Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
  • Soft credit pull - Chime Spending Account performs a soft credit pull so you can check whether you qualify without hurting your credit.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday 9:00am - 5:00pm
  • Monday 7:00am - 7:00pm
  • Tuesday 7:00am - 7:00pm
  • Wednesday 7:00am - 7:00pm
  • Thursday 7:00am - 7:00pm
  • Friday 7:00am - 7:00pm
  • Saturday 7:00am - 7:00pm

Other Services by Chime

Message From Chime

Chime, the leader in the U.S. challenger banking segment, helps members avoid bank fees, save money automatically, and lead healthier financial lives. Chime members receive a Chime Visa debit card, a Spending Account, a Savings Account, and a powerful mobile app that keeps members in control. The Chime mobile app is available for iPhone and Android devices and has been featured as one of the best Money Management apps in the App Store. Chime’s business was built on the principle of protecting our members and helping them get ahead. That means we don’t profit off of you. We profit with you: every time you use your Chime debit card, we earn a small amount from Visa (paid by the merchant). We created Chime because we believe everyone deserves financial peace of mind. We’re building a new kind of online bank account that helps members get ahead by making managing money easy. It’s your money. It’s your life. Chime in.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 0%
Monthly Fee $0
NSF Fee $0
Online Bill Pay Fee $0
Overdraft Item Fee $0
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $0
Returned Deposit Fee (International) $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
ATM Fee: Out-of-Network $2.50
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Protection
  • Soft Credit Pull
  • Debit Card
  • Automatic Savings
  • Get Paid Early
  • Bauer Financial A+/A Rating
  • Online-Only Account
APY (Annual Percentage Yield) 0.01%

Chime Spending Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +59, equating to 4.2 on a 5 point rating scale.

+59

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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