Chime Bank is based in Wilmington, DE. It was founded in 2012 and offers checking accounts services in 50 states (and Washington, DC).
Chime Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts up to $250,000 per depositor if a member institution fails.
Chime Bank offers an interest-bearing account with an APY (annual percentage yield) of up to 0.01%.
The APY of an account is the annual rate of return taking into account compounding interest and assuming your money remains in the account for a full year. Chime Bank does not charge a monthly maintenance fee. So you don't have to worry about fees from eroding your interest earnings.
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 - Reconciiling your accounts ank complying with document retention standards is easier when you have access to a copy of your checks.
Free debit card - Enjoy the convenience of a debit card without the extra fees. Debit cards make it easier to control your spending because unlike credit cards you can only spend what you already have in your account.
Free Bill Pay - Bill Pay allows you to receive ebills directly to your account and 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 - Chime Bank allows you to manage your money on the go without ever having to step in a brick-and-mortar bank. This includes depositing checks in your account with your smartphone.
Nationwide ATM network - Never get caught out by a hipster cash-only business again.
Savings account - Chime Bank allows you link your checking account to a savings account. Connecting your checking account to a savings account reduces friction and makes it easier to put aside money toward savings on a regular basis.
Here is a list of the potential fees attached to this account:
First the good news. This account does not charge a monthly maintenance fee.
Chime Bank reports credit data to the following credit reporting agencies:
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.
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