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
Chime/Aspiration
I've only been using Chime for a short period of time. I was using it because I wanted to get my paycheck a couple days early because I get paid every two weeks. Anyway I was offered the Chime credit builder card after so long. From what I read and understood,it would help me build my credit. As long as I added money to it from my checking account. Well they voluntarily took 100 dollars from my checking account and I don't know where or why they took it. It also told me if I owed 600 some dollars by the 27th of this month. Why,I never borrowed or used any money that wasn't mine. Can someone please inlighting me on why?
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 Is Designed For Scammers!
Chime is a poorly designed payment method that favors scammers. THE DEFAULT PAYMENT METHOD CANNOT BE REFUNDED! Scammers will use this to their advantage. “Pay anyone” is a payment method that chime cannot refund. But for some reason, chime made this the DEFAULT PAYMENT METHOD!!!!!!! I did not choose this method. The software chose it for me automatically. I have been scammed and chime refuses to help out in any way!
Data as of Q4 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35444 |
| Year Established | 2000 |
| Employees | 771 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.9% |
| Return on Equity - YTD | 26.45% |
| Annual Interest Income | $549.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $8.71B$7.69B |
| Loans | Q4 2024vs Q4 2023 | $6.3B$5.67B |
| Deposits | Q4 2024vs Q4 2023 | $7.76B$6.69B |
| Equity Capital | Q4 2024vs Q4 2023 | $871.4MM$893.3MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $31.9MM$27.4MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $37.8MM$9.7MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $62MM$16.9MM |