Chime Pricing & Features Overview- Subscribed.FYI
Fintech and Banking

Chime

Chime offers fee-free banking with transparent features and a mobile-centric approach. Get paid early, avoid overdraft fees with SpotMe, and build credit with confidence. Perfect for individuals seeking hassle-free finance management.

Overview

What is Chime?

In today’s digital age, managing your finances shouldn’t be a hassle. Chime isn’t your traditional bank; it’s a modern financial platform designed to empower you with transparency, convenience, and fee-free banking. With a mobile-centric approach and a focus on building your financial health, Chime provides the tools you need to manage your money with confidence and achieve your financial goals.

Why Choose Chime?

Seeking a transparent and convenient banking solution that helps you take control of your finances? Here’s why Chime stands out:

  • No Monthly Fees: Enjoy fee-free banking, with no minimum balance requirements.
  • Mobile Banking: Manage your finances seamlessly through the user-friendly Chime mobile app.
  • Get Paid Early: Receive your paycheck up to 2 days early with direct deposit.
  • SpotMe: Avoid overdraft fees with SpotMe, a fee-free overdraft service that advances small amounts to cover debits.
  • Security & Reliability: Trust Chime’s commitment to bank-level security to protect your financial information.
  • Building Credit: Establish or improve your credit score with Chime’s optional Credit Builder tool.

Who is Chime For?

Chime caters to individuals seeking a modern and accessible banking experience:

  • Young Professionals: Manage your finances on the go with the convenient mobile app.
  • Budget-Conscious Individuals: Benefit from fee-free banking and avoid unnecessary charges.
  • People Building Credit: Start or improve your credit score with the Credit Builder tool.
  • Anyone Seeking Transparency: Enjoy clear and understandable account information with no hidden fees.
  • Tech-Savvy Users: Embrace the convenience of mobile-centric banking.

Chime goes beyond traditional banking, offering a transparent and user-friendly platform designed to empower you to manage your money. With its focus on convenience, fee-free banking, and financial tools, Chime is the perfect choice for individuals seeking to take control of their finances and build a brighter financial future.

Videos

Reduce

Save up to 20% in your subscription
Promotion
You can save up to 20% by following these steps:
Up to 20%

Pricing and Features

Product Tier
Pricing
Features

Checking Account

Monthly Price

$0

Yearly Price

$0

  • No Monthly Fees: No charges for account maintenance.
  • No Minimum Balance Fee: Avoid fees for low balances.
  • 24/7 Mobile Banking: Manage money anytime, anywhere.
  • Free Account Opening: Open account without fees.
  • Fee-Free ATMs: Access cash at 60,000+ ATMs.

Visa Debit Card

Monthly Fee

$0

  • No Monthly Fees: No charges for account maintenance.
  • No Minimum Balance Fee: Avoid fees for low balances.
  • 24/7 Mobile Banking: Manage money anytime, anywhere.
  • Free Account Opening: Open account without fees.
  • Fee-Free ATMs: Access cash at 60,000+ ATMs.

SpotMe

Transaction Fee

$0

  • Overdraft up to $200: Overdraft up to $200 with no fees.
  • No Overdraft Fees: Avoid traditional bank overdraft fees.
  • Boost Each Other: Complimentary Boosts can increase friends’ SpotMe limit.
  • Pay It Forward: Optional tips help keep SpotMe fee-free.

Savings Account

Monthly Fee

$0

Annual Percentage Yield

2%

  • High-Yield Savings: Earn 2.00% APY on all your cash.
  • Automatic Savings: Boost your earnings with automated features.
  • No Monthly Fees: Avoid monthly fees on your savings account.
  • Grow Savings Automatically: Utilize Round Ups and Save When I Get Paid features.

Send & Receive Money Instantly

Transaction Fee

$0

  • Instant Money Transfers: Send and receive money instantly.
  • Secure Payments: Pay securely through Chime with FDIC insurance.
  • Fee-Free Instant Transfers: Avoid fees for instant transfers.
  • 24/7 Live Support: Access human support anytime for peace of mind.

Experience

Cancellation

Streamlining Your Financial Management: Concluding Your Chime Banking Experience

As your financial needs and preferences evolve, or you explore alternative banking solutions, Chime offers a clear and efficient process to close your account. To ensure a smooth transition and avoid unintended charges, please visit this dedicated page.

Read More

Product FAQ

What are the advantages of using Chime compared to a traditional bank?

Chime caters to those who prefer a mobile-centric banking experience and potentially dislike traditional bank fees:

  • No Monthly Fees: Unlike many traditional banks, Chime doesn’t charge monthly service fees for maintaining your account. This can be a significant advantage if you typically maintain a low account balance.
  • Fee-Free Overdraft: Chime offers a feature called “SpotMe” which allows you to overdraw your account on debit card purchases up to a certain limit without incurring fees. Eligibility requirements apply, and you’ll need to repay the overdrawn amount quickly.
  • Early Access to Direct Deposit: Chime often allows access to your paycheck up to two days earlier than traditional bank deposits. This can be helpful for managing your cash flow.
  • Mobile-First Banking: Chime prioritizes mobile banking through their user-friendly app. You can manage your account, transfer funds, and deposit checks all from your smartphone.
  • Large Network of ATMs: While Chime doesn’t have physical branches, they offer access to a vast network of fee-free ATMs for cash withdrawals. Out-of-network ATM fees might still apply.

These are some of the key benefits that attract users to Chime, particularly those who are comfortable managing their finances through a mobile app and value avoiding common bank fees.

Is Chime FDIC-insured, and how safe is my money?

Chime partners with established banks to ensure your funds are secure:

  • FDIC-insured: Although Chime itself isn’t a bank, your funds are FDIC-insured up to the standard limits. This means the Federal Deposit Insurance Corporation guarantees your money in case Chime or their partner bank faces financial difficulties.
  • Security Measures: Chime implements various security measures to protect your account, including encryption, fraud monitoring, and two-factor authentication options.

While Chime operates differently from a traditional bank, your funds are insured by the FDIC, and they prioritize security measures to safeguard your money.

How does Chime generate revenue if they don't charge monthly fees?

Chime earns revenue through several means:

  • Interchange Fees: Banks typically earn interchange fees from card networks for each debit card transaction processed. While Chime may not charge you directly, they might receive a portion of these interchange fees.
  • Cash Machine Networks: For out-of-network ATM withdrawals, Chime might collect fees from the ATM provider, potentially generating some revenue.
  • Banking Partnerships: Partnerships with established banks that provide FDIC insurance and some banking services might involve revenue sharing agreements for Chime.

By understanding Chime’s revenue model, you can get a clearer picture of how they sustain their operations without relying on traditional monthly account fees.

What features does the Chime mobile app offer for managing my finances?

The Chime mobile app is the core of their banking experience:

  • Account Management: View your account balance, transaction history, and manage your debit card settings directly from the app.
  • Money Transfers: Transfer money between your Chime account and other bank accounts easily using the app.
  • Bill Pay: Schedule and pay bills directly from your Chime account, potentially streamlining your bill payment process.
  • Mobile Deposit: As mentioned earlier, deposit checks electronically using the mobile app’s check deposit feature.
  • Budgeting Tools: While not as robust as some traditional banking apps, Chime might offer basic budgeting tools or insights to help you manage your finances.

The Chime mobile app provides a comprehensive suite of features for managing your everyday banking needs and finances on the go.

What happens if I lose my Chime debit card?

Losing your debit card can be stressful, but Chime offers solutions:

  • Mobile App Deactivation: You can easily deactivate your lost or stolen debit card directly through the Chime mobile app. This helps prevent unauthorized transactions.
  • Replacement Card Ordering: Order a replacement debit card through the Chime app. There might be a fee associated with expedited shipping, but standard replacement might take several business days.
  • Temporary Virtual Card: Chime might offer a temporary virtual card option while you wait for your replacement physical card to arrive. This allows you to continue making online purchases securely.

By taking immediate action through the mobile app, you can minimize the risk of fraudulent activity and ensure a smooth replacement process for your lost Chime debit card.

Products others like