Chime

About this app

Chime is a financial technology company offering a mobile-first banking experience with no monthly fees, no minimum balance requirements, and no overdraft fees. Get paid up to two days early with direct deposit, build credit with the secured Chime Credit Builder card, and access 47,000+ fee-free ATMs. Chime's SpotMe feature covers debit card purchases up to $200 with no overdraft fees. The high-yield savings account offers automatic savings tools and competitive interest rates. Send money to anyone instantly with Pay Anyone. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

Key Features

How It Works

Detailed Review

Chime has grown to over 22 million account holders by solving traditional banking's most annoying problems: monthly fees, overdraft charges, and slow access to your own money. It's not technically a bank — it's a fintech company that partners with FDIC-insured banks — but for the end user, the distinction is irrelevant.

The headline feature is getting paid early. When your employer sends your direct deposit, Chime makes the funds available as soon as they receive the notification — typically 1-2 days before traditional banks process the deposit. In our testing with bi-weekly paychecks, money consistently arrived on Wednesday instead of Friday. For people living paycheck to paycheck, this 48-hour difference is genuinely meaningful.

SpotMe is Chime's answer to overdraft protection, and it's dramatically better than traditional bank overdraft fees. If you overdraw your debit card by up to $200, Chime covers it with no fee. No $35 overdraft charge, no embarrassing declined transaction. The limit starts at $20 and increases based on your direct deposit history and account activity.

The Credit Builder card is cleverly designed. It's a secured credit card where you load money first, then spend it. Chime reports your on-time payments to all three credit bureaus, helping you build credit history without risk of debt. There's no interest, no annual fee, and no credit check to apply. For people rebuilding credit or establishing it for the first time, it's one of the best tools available.

The savings account offers automatic savings tools that actually work. 'Round Ups' rounds every debit transaction to the next dollar and moves the difference to savings. 'Save When I Get Paid' automatically transfers a percentage of each direct deposit. These small, automatic actions accumulate surprisingly quickly.

The ATM network is extensive — 47,000+ locations at Walgreens, 7-Eleven, CVS, and other retailers. Out-of-network ATMs charge fees, so sticking to the network matters. Cash deposits are possible at retail partners like Walgreens, though some may charge a small fee.

The downsides are inherent to online-only banking. No branches means no in-person help. Customer support is available 24/7 via phone and chat, but wait times can be long during peak hours. Cash deposits are less convenient than walking into a bank branch. And there are no joint accounts, which limits its usefulness for couples.

For its target market — younger adults, gig workers, and anyone tired of bank fees — Chime delivers exactly what's promised: free banking that respects your money.

App Information