Chime is a financial technology company that, with its bank partners, offers online checking and savings accounts as well as a credit-building secured credit card. The checking and savings accounts have no monthly service fees and no minimum balance requirements.
The checking account charges no overdraft fees and provides an early direct deposit service that allows you to receive your paycheck up to two days before your usual payday. You can also receive a debit card to get cash from more than 60,000 fee-free ATMs — and use Chime’s mobile app to find the nearest machine. However, fees can apply to certain types of cash deposits.
The savings account has earned an annual percentage yield (APY) of 2.00% since Sept. 20, 2023. Chime also has an option to help you grow your savings automatically: You can round up purchases to the next dollar and save the remainder.
Chime does not have branches but makes a Member Services team available 24/7 at 844-244-6363. You can also chat with Chime via the mobile app by tapping the question mark icon at the top of the screen.
Chime pros and cons
Pros:
• No overdraft fees
• Direct deposit of your paycheck up to two days early
• Automated savings tools
• Large network of ATMs
Cons:
• Cash deposit fees
• No physical locations for in-person service
• Savings rate less competitive than other online accounts
• No CDs or money market accounts
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Your Money, With 0 Fees
A checking account with $0 monthly fees, $0 overdraft fees, and no opening deposit. Plus you get $100 when you open your account!
https://www.chime.com/r/bestbank
I've been using Chime for a few months now, and I must say, it's been a game-changer for my banking needs. One of the standout features is the lack of monthly fees and minimum balance requirements, which makes it incredibly accessible and budget-friendly. The mobile app is user-friendly and intuitive, allowing me to manage my account effortlessly. The "Get Paid Early" feature is also a huge plus, as it lets me access my paycheck up to two days before payday. Additionally, the automatic savings feature helps me save money without even thinking about it. The customer service has been responsive and helpful whenever I've had questions or needed assistance. Overall, Chime has simplified my banking experience and provided me with peace of mind knowing I'm not racking up unnecessary fees. If you're looking for a hassle-free, fee-free banking experience, Chime is definitely worth considering.
Long Time Customer.
Why do new customers have the opportunity to receive a Paycheck advancement yet loyal existing customers are not.
Kind of a slap in the face
CHEATS INSIDE
I THINK WHY PEOPLE ARE GETTTING MONEY STOLEN IS BECAUSE ITS PEOPLE IN THE COMPANY THATS DOING IT. THEY HAVE ALL OF OUR INFORMATION AND I HONESLTY THINK THE REASON IS BECAUSE ITS SOMEONE INSIDE THATS DOING THIS!
Chime Bankcorp Bad Experience With Company. Wish I Could Give No Stars.
WORSE BANKING APP EVER! CHIME HOLDS PEOPLE MONEY AND THEN WILL LIE AS IF IT IS OKAY! I HAD BILLS TO PAY, THESE SLIME BALLS MADE ME GET MAD AT MY EMPLOYER AND THINK THEY WERE LYING ABOUT A DEPOSIT! WHICH CHIME KNEW THEY HAD THE WHOLE TIME! IF YOU DON'T HAVE CHIME RUUUUUUUUUUUN I WOULDN'T RECCOMEND THEM TO ANYONE! THEY ARE WORTHLESS!!
Data as of Q1 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35444 |
| Year Established | 2000 |
| Employees | 761 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 3.14% |
| Return on Equity - YTD | 27.3% |
| Annual Interest Income | $135.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2024vs Q1 2023 | $7.92B$7.61B |
| Loans | Q1 2024vs Q1 2023 | $5.71B$5.82B |
| Deposits | Q1 2024vs Q1 2023 | $6.9B$6.72B |
| Equity Capital | Q1 2024vs Q1 2023 | $904.8MM$809.3MM |
| Loan Loss Allowance | Q1 2024vs Q1 2023 | $28.7MM$23.8MM |
| Unbacked Noncurrent Loans | Q1 2024vs Q1 2023 | $52.6MM$12.6MM |
| Real Estate Owned | Q1 2024vs Q1 2023 | $19.6MM$21.1MM |