Chime

Written by Jessica Merritt | Edited by Rebecca Stropoli | Updated on 06/02/2025

Chime is a financial technology company that partners with national banks to offer online-only banking services. The company has digital-first checking, high-yield savings and second-chance bank accounts but no certificates of deposit (CDs).

All accounts are covered by Federal Deposit Insurance Corp. (FDIC) insurance up to standard limits through Chime’s partner banks.

• Checking: Chime’s online checking account has no minimum opening deposit requirement and no monthly service or overdraft fees. When you sign up for a Chime checking account, you’ll get a virtual debit card and then receive the Chime Visa debit card in the mail. Withdraw cash from more than 50,000 fee-free ATMs, and make deposits at more than 85,000 retail locations (fees may apply).
• Account benefits include SpotMe, which provides fee-free overdraft protection on debit card purchases of up to $200. Plus, early direct deposit gives you access to your paycheck up to two days ahead of schedule, and MyPay allows you to get up to $500 of your pay early. All three offerings require qualifying direct deposits.
• Savings: You can automatically bump up the annual percentage yield (APY) on a Chime High-Yield Savings Account with Chime+, free benefits available with a qualifying direct deposit. The account comes with no monthly fees, no cap on interest earnings and no minimum balance requirements.
• Using the Save When I Get Paid feature, you can automatically transfer 10% of $500 or more in direct deposits from your checking account to savings. The Round Ups feature automatically rounds up debit card purchases to the nearest dollar and then transfers this amount from checking to savings.

Customer service: is available 24/7 by phone at 844-244-6363, or you can chat with a live agent through the mobile app. Chime reviews highlight the easy-to-use app, plus fee-free overdraft and credit-building features.

Chime offers a highly rated mobile banking app that allows you to make mobile check deposits, online bill payments and instant, fee-free transfers. The Pay Anyone feature enables you to send instant, fee-free transfers to anyone via the app, even if they don’t have a Chime account.

You can manage your Chime checking account with 24/7 mobile banking.

PROS

• Charges no monthly maintenance fees on checking and savings accounts

• Offers early direct deposit with paycheck access up to two days early

• Provides smart savings features, including round-ups and automatic paycheck savings

CONS

• Operates no physical branches

• Lacks CDs and offers limited products

• Requires a qualifying direct deposit to get the highest APY on savings accounts

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