Chime Review for 2024

If you’re looking for a way to eliminate needless monthly expenses, banking fees are a great place to start. They may seem harmless, but these small, monthly charges add up over time to a lot of wasted money.

In the past, consumers were at the mercy of brick-and-mortar banks and didn’t have much say regarding fees. But increasingly, online banks have become an attractive option for many consumers.

If you want to eliminate fees and switch to online banking, Chime could be an excellent option for you. In this Chime review, we will provide an overview of Chime, so you can decide if it’s the best choice for you.

What is Chime?

Chime® is a modern banking solution that resonates with millennials due to its simplified approach to financial management. On signing up, you are provided with a Chime checking account, a Visa debit card, a secured credit card, and a savings account.

Chime facilitates easy money management by depositing funds into your checking account, which can be used for daily expenses. Transfers to your Chime Savings Account can be made as needed. Additionally, deposits can be made at over 60,000 retail locations, providing peace of mind with FDIC insurance up to $250,000 through Bancorp Bank.

How does Chime work?

Chime offers multiple ways to save and manage your finances. One prominent feature is the option to set up automatic transfers to your savings account. With this feature, a predetermined percentage of your paycheck is automatically transferred to your Chime savings account each time you receive your pay.

This functionality is particularly beneficial for those who struggle with saving, enabling consistent growth of your savings over time. Through these services, Chime simplifies banking and makes saving an effortless part of your routine.

Chime Features

Before you sign up for a Chime checking account, let’s take a look at its features and benefits. Here is an overview of Chime’s services and the advantages and disadvantages of each.

Chime Checking Account

No minimum deposit is required to open a Chime Checking Account. There is also no minimum balance requirement. With your Chime checking account, you will automatically receive a Chime debit card.

They don’t offer paper checks. However, if you need to write someone a check, you can do this through the Chime app. Chime will process the check within three to nine business days. However, you can pay bills with their online bill pay feature.

Chime Savings Account

Chime’s Savings Account is a high-yield savings account that you can apply for separately from the Chime Checking Account. However, the interest rate is 2.00%3 APY, which is very competitive right now.

Secured Chime Credit Builder Visa® Credit Card

Chime claims that you can increase your credit score by an average of 30 points4 with their Chime Credit Builder secured credit card. In addition, it comes with no annual fee or interest1 and no minimum security deposit required6. There is also no credit check to apply.

When you move money from a Chime Checking Account into a Credit Builder account, that money acts as your credit limit for the credit card. When you make a purchase using your Chime Credit Builder card, it gets paid off with the money you’ve already moved over. Then, Chime reports the payments to the three major credit bureaus. This helps you build your credit history and credit score over time7.

Automatic Savings Program

Once you sign up for an online savings account, you’ll receive instant access to their automatic savings feature. Whenever you make debit card purchases, Chime will round up the purchase amount to the nearest dollar. Then, Chime will automatically add this money to your savings account.

Small numbers add up to big numbers over time, so this is a great way to slowly start building your savings account. And best of all, it will happen without you even having to think about it.

Early Direct Deposit: Get Paid up to Two Days Early!

When you set up direct deposit, you’ll automatically be able to get your paycheck up to two days early2. As soon as Chime receives the direct deposit from your employer, it will post to your account.

Mobile Support

Some people get nervous about not having a physical bank they can visit with questions and concerns. But Chime customer service provides quite a bit of support through its mobile app, which is available on iOS and Android devices.

You can keep track of your spending, deposits, and withdrawals entirely through the mobile app. With the Chime mobile app, you can quickly check your account balance even when you’re on the go. You can also deposit paper checks by snapping a photo using the mobile check deposit feature.

Customer Service

Chime’s simplified approach to banking can be a detriment when it comes to customer service. They offer customer service support, but it won’t be as extensive as what you’re used to with a brick-and-mortar bank.

If you think this might be an issue for you, you should probably consider going with a more traditional bank or credit union.

Fee-Free ATM Network Access

Chime provides access to over 60,000 fee-free1 MoneyPass and Visa Plus Alliance ATMs nationwide. There is a $2.50 fee if you need to use your Chime debit card at an out-of-network ATM. This is the only fee Chime charges.

Chime Reviews

When choosing a bank, it’s always insightful to hear what existing customers have to say. Chime currently enjoys an ‘A+’ rating from the Better Business Bureau (BBB), which is a strong indicator of its reliability. Customer reviews on other platforms frequently rate Chime highly, with many 4- and 5-star evaluations.

These positive reviews often highlight Chime’s no-fee banking services, which include a lack of monthly account service fees, card replacement fees, and foreign transaction fees. Additionally, customers appreciate the bank’s early direct deposit feature, which allows them to access their paychecks up to two days early.

Many customers value Chime’s services for helping them save and manage their finances efficiently, while some have expressed satisfaction with how the bank handles fraudulent transactions, often refunding stolen funds quickly.

Alternatives to Chime Bank

If you’re considering opening a bank account with Chime, chances are you’ll also be interested in checking out some of Chime’s competitors. That kind of research can take a lot of time, but we’ve got you covered.


SoFi stands out with its hybrid “SoFi Checking and Savings” account, offering both high yields and practical features. The account offers a 4.60% APY on savings and a 0.50% APY on checking balances, with no monthly fees. SoFi’s early direct deposit feature lets you access your paycheck up to two days early, and the platform provides FDIC insurance up to $2 million. Overdrafts up to $50 are covered if you have qualifying direct deposits.

New SoFi customers can enjoy a welcome bonus ranging from $50 to $300, depending on the direct deposit setup. The platform also offers access to over 55,000 Allpoint® ATMs, making it a convenient choice.


Upgrade’s Rewards Checking Plus account merges convenience with cost efficiency, featuring no monthly fees, overdraft fees, or transfer fees. With direct deposits, customers can earn up to 2% cash back on everyday debit card purchases. Upgrade’s early direct deposit feature allows access to paychecks up to two days early.

Upgrade partners with Cross River Bank to offer a Premier Savings account with a 5.21% APY, with funds FDIC-insured up to $250,000.


Current is a financial services company providing three different products for customers online. This forward-looking online bank offers a checking account geared towards cashback rewards, peer-to-peer transfers, and even an earlier payday with direct deposits. You also won’t pay any monthly fee with a Current account.

Current also offers their take on traditional savings accounts, with what they call Savings Pods. Current offers 4.00% annual percentage yield on savings (up to $6,000). This makes it a great option for those looking to earn and benefit from no-fuss digital checking.


Varo is a digital banking platform which focuses on convenience and low fees. Varo accounts don’t require a credit check. They also have no monthly fee or overdraft fees. Plus, they provide customers with a 55,000+ network of no-fee ATMs. You can even open a savings account with Varo and save at an APY of up to 0.5%.

With Varo you can’t make or receive wires to or from your account, so to add funds, you’ll need an alternative. Direct deposits from an existing bank account or digital check deposits are two of the most common routes people use to fund their Varo accounts.

Bottom Line

When it comes to managing your money, consumers have more options than ever. For those seeking an online-only banking solution, Chime offers a compelling option. Chime’s focus on reducing fees makes it an attractive choice for those who want to save more of their hard-earned money. With user-friendly features, no hidden fees, and a strong customer satisfaction rating, Chime provides a streamlined and cost-effective banking experience.

Chime’s offerings, such as early direct deposit and fee-free ATMs, cater to modern banking needs. If you’re looking for a bank that aligns with your desire to save on fees while providing essential banking services, Chime could be a great fit. Additionally, Chime’s commitment to customer service, coupled with its simple and intuitive approach to financial management, further reinforces its appeal as a reliable banking partner.

Frequently Asked Questions

Is Chime legit?

Yes. Chime is a legitimate financial technology company, partnered with The Bancorp Bank and Stride Bank, which are both FDIC-insured.

What is required to open a Chime account?

Opening an account with Chime is easy. Once you’re a citizen or legal resident of the US, you can apply with just your Social Security Number and home address. You also must be at least 18 years old.

Does Chime charge any fees?

One of the most frustrating aspects of traditional banks is the multitude of fees they seem to stick you with. Chime offers a truly fee-free banking experience:

  • No monthly account service fees
  • No ACH bank transfer fees
  • No card replacement fees
  • No foreign transaction fees
  • No ATM fees (in-network)

These monthly fees may seem small, but they add up over time. For example, if you pay $9.95 every month in fees, you’re spending over $119 a year just to do business with that bank. And if you regularly pay overdraft fees, the charges get even more ridiculous.

That’s why one of the biggest advantages of banking through Chime is that there are no fees. Chime doesn’t charge monthly maintenance fees, and you don’t have to worry about overdraft fees either. If a charge is submitted that would overdraw your account, Chime will simply reject the transaction.

Chime also offers optional fee-free overdraft protection through SpotMe®5. It’s available to customers who make monthly direct deposits of $200 or more in total.

Where can I load my Chime card?

Chime has numerous deposit partners that accept cash deposits:

  • 7-Eleven
  • Circle K Stores
  • Cumberland Farms Corp
  • CVS
  • Dollar General
  • Duane Reade
  • Family Dollar
  • GPM Investments
  • Holiday Station Stores
  • Krause Gentle (Kum & Go)
  • Kwik Trip Inc
  • Pilot Travel Centers
  • Rite Aid
  • Royal Farms
  • Sheetz Incorp
  • Speedway
  • TA Operating LLC (TravelCenters of America)
  • Walgreens
  • Walmart

How much does it cost to load a Chime card?

Retailers will typically charge you less than $5 to load your card. However, Walgreens offers free cash deposits to your Chime checking account.

Is Chime a prepaid card?

No, Chime is not a prepaid card. Chime offers a full-featured checking account, a Visa debit card, and an optional savings account. Chime’s debit card is linked to your bank account, whereas a prepaid card is not.

How long does Chime take to deposit a check?

Chime typically deposits most checks into your account within 3 to 5 business days. If your check is not deposited within that time frame, you should contact Chime support.

Can someone send me money to my Chime account?

Yes, you can send a request for money using Chime. The recipient will receive either an email or SMS message from Chime which will contain a link to their Chime mobile app. They can use it to make a payment to your Chime account.

Who is Chime best for?

Chime is an excellent option for anyone looking for an online-only checking account. If you’re looking for a checking account, this could be the right choice for you.

Furthermore, Chime is on our list of top banks that don’t use ChexSystems. So, if you have a troubled banking history, no worries, you can still get an online bank account.

However, there are a few things you should keep in mind before signing up for a Chime account. The first thing you should consider is that you won’t have access to in-person support.

For some people, that may not seem like a big deal. But if there’s a problem with your online account, you’re going to have to wait until you can get a hold of a customer service representative. And you’ll have to hope that person can take care of the issue over the phone.

Direct deposits are simple and straightforward. However, depositing cash can be more tedious since there isn’t a physical location you can visit.

Chime also doesn’t offer loans or products such as CDs and money market accounts, which is not a big deal for most.

Does Chime offer free ATM withdrawals?

Yes. One of the benefits of having a Chime account is that you can avail of a network of around 60,000 fee-free ATMs. Although ATM fees might be seen as negligible, customers who like to withdraw cash regularly will notice the difference when using fee-free ATMs.

Are there any fees associated with Chime’s services?

Chime prides itself on being fee-free for many services, including no monthly maintenance fees, no minimum balance fees, and no overdraft fees. However, using an out-of-network ATM incurs a $2.50 fee, and third-party fees may apply for cash deposits at retail locations.

What credit score do you need for Chime?

There is no minimum credit score required to qualify for a Chime account. If you’ve got a Chime Checking Account, then the Chime Credit Builder Card is available to you, and this is designed specifically to help build or repair bad credit.

Chime doesn’t run credit checks, and so your credit limit is determined by how much money you deposit in to your account, and this can be changed at any time as often as you like. This is what makes Chime such a great option for those with thin or damaged credit.

Does Chime have any hidden fees?

Chime has built a great reputation as a company. However, their fee conditions are subject to certain conditions, such as out-of-network ATM fees.

These fees are stated upfront by Chime, so it wouldn’t be fair to call them hidden fees. In addition, Chime’s SpotMe service is only applicable once you’ve got at least $200 in direct deposits per month.

Understanding these finer details is important to avoid getting stung by unexpected fees and charges.

Will Chime refund stolen money?

Chime offers great protection against fraudulent transactions. In most cases, they will be able to return any stolen funds from your account. Chime debit cards are also protected by Visa’s Zero Liability Policy. It’s designed to protect consumers from taking responsibility for unauthorized charges.

It’s also easy to quickly block transactions on your card via Chime’s app. You can act quickly to protect your existing funds if you detect any suspicious activity on your account. Moreover, you can turn on transaction notifications. So, if you do ever fall victim to fraud, you can act quickly to protect your account from further theft.

Can I use Chime for business banking?

Chime is designed for personal banking, and it does not offer business accounts. If you need banking services for your business, you’ll need to look at other banks that provide specific business banking features.

How secure is Chime’s mobile app?

Chime’s mobile app is highly secure. It uses encryption and multi-factor authentication to protect your personal and financial information. Additionally, your deposits are FDIC insured up to $250,000 through Bancorp Bank or Stride Bank, N.A.

Does Chime support international transactions?

Chime allows for international purchases and withdrawals with its debit card. However, there is no foreign transaction fee, making it convenient for travelers. Be aware that out-of-network ATM fees may apply if you withdraw cash abroad.

Can I deposit cash into my Chime account?

Yes, you can deposit cash into your Chime account at over 60,000 retail locations using the Green Dot network. This includes stores like Walgreens, CVS, and Walmart. There may be a fee charged by the retailer for this service.

What happens if I lose my Chime card?

If you lose your Chime card, you can easily disable it through the Chime mobile app to prevent unauthorized transactions. You can then request a replacement card through the app, which typically arrives within 7-10 business days.

How does Chime help build my credit score?

Chime offers the Secured Chime Credit Builder Visa® Credit Card, which can help you build your credit score. There is no credit check to apply, no annual fee, and no interest. Your credit limit is determined by the amount you move from your Chime checking account to your Credit Builder account. Payments are reported to the three major credit bureaus, helping you build credit over time.

Can I use Chime if I have a negative banking history?

Yes, Chime is known for its accessibility to people who have had trouble with traditional banks, including those with a negative banking history. Chime does not require a credit check to open an account, making it an inclusive option for many.

What happens if there is a fraudulent transaction on my Chime account?

Chime has a robust fraud prevention system in place. If you notice a fraudulent transaction, you should report it immediately through the Chime app or by contacting their customer service. Chime typically refunds stolen funds quickly once the fraudulent activity is confirmed.

How long does it take to transfer money from an external bank to Chime?

Transfers from an external bank to your Chime account usually take 3-5 business days. You can initiate the transfer through the Chime app or your external bank’s website.

Jamie Johnson
Meet the author

Jamie Johnson is a freelance writer who has been featured in publications like InvestorPlace and GOBankingRates. She writes about various personal finance topics including student loans, credit cards, investing, building credit, and more.