Is Chime Legit? Read My Review Before Using the App (2024 Update!)

In this review, I’ll cover everything from how Chime works to whether it’s legit.

After all, any time we’re dealing with our hard-earned money, we want to make sure that we’re putting it in good hands.

What is Chime?

Chime is a financial technology company founded by Christ Britt and Ryan King. It was officially launched in April 2014.

As of 2024, Chime is reported to have around 22.3 million customers.

Although Chime is not a bank, but a financial technology company, it does provide banking services through The Bancorp Bank, N.A. or Stride Bank, N.A.

With Chime, consumers get access to banking with no monthly fees, more than 50,000 ATMs, and a fee-free overdraft of up to $200. Consumers can also use Chime to build credit.

Chime offers a huge selection of financial services, which I’ll cover below.

How Does Chime Work?

You can sign up for Chime and get access to a range of financial services.

To use Chime, you will need to be at least 18 years old and a U.S. Citizen or a legal resident of the United States. You will need to have a valid SSN as well.

When you open a bank account through Chime, you will get a Visa Debit Card and a Checking account that you can manage entirely from your smartphone. The Chime mobile banking app is available for Android and iOS devices.

Chime also provides a bunch of other services from savings accounts to cash advances. I’ll cover all of the services that Chime has to offer in more detail below.

What Chime Has to Offer

Here are the products, services, and features you can get access to as a Chime customer.

Chime Online Checking Account

The company offers an online checking account. The Chime Online Checking Account has no monthly fees, no minimum balance fees, and no overdraft fees.

It’s free to open a checking account with the company. You can manage your money with 24/7 mobile banking and get access to thousands of fee-free ATMs.

Chime Credit Builder Secured Visa Credit Card

Chime also has a credit card. So, if you are interested in getting a credit card as well as an online checking account, then the company is a good choice.

The Credit Builder Secured Visa Credit Card helps you to build your credit. And, there’s no credit check to apply. The card doesn’t charge an annual fee or interest.

Chime Visa Debit Card

You get a Chime Visa Debit card when you open an account with Chime. The card works anywhere that Visa is accepted, and that’s a lot of places! There are no minimum balance requirements or account maintenance fees.

You can control your debit card security right from the app, which is handy. And, get real-time transaction alerts.

If you lose your debit card, you can disable transactions right from the app and use the app to order a replacement debit card.

You can also avoid replacement fees and maintenance fees with the card.

Handily enough, you can connect your virtual debit card to your mobile device. Then you can use secure mobile payments with platforms like Google and Apple Pay.

The card even helps you to grow your savings automatically.

Just turn on Round Ups, and Chime will transfer the change from every purchase on your debit card to your savings account.

You can also use Save When I Get Paid to save a percentage of every paycheck automatically.

SpotMe Fee-Free Overdraft

Chime gives you access to online banking with no overdraft fees. This is ideal for times when money is tight.

Get an overdraft of up to $200 without fees through Chime’s SpotMe Fee-Free Overdraft.

Get spotted on debit and credit card purchases, plus cash withdrawals.

Chime will spot you up to $200 on debit card purchases and cash withdrawals with no overdraft fees. And you can get access to SpotMe when you use your Credit Builder card. Chime will apply your next deposit to your negative balance.

Here’s how you can use Chime’s SpotMe:

1. Set up direct deposit: You’ll need to direct deposit your paycheck into your Chime account. Chime will notify you to enroll in its SpotMe feature.
2. Chime will spot you the money: Activate your Chime debit or credit card, and the company will spot you up to your limit when you make a purchase that exceeds your balances.
3. Balance your balance: Chime will apply your next direct deposit to your negative balance.

Chime doesn’t charge you fees or interest for using SpotMe.

You’ll be eligible to enroll in SpotMe in the Chime app once you have a monthly qualifying deposit of at least $200 and activate either your Chime Visa Debit Card or Chime Credit Builder Visa Credit Card. Chime determines limits based on factors like account activity and history.

Chime high-yield savings account

Chime doesn’t just offer checking accounts. You can get a high-yield savings account through Chime too. Get 2.00% APY on your money. You can even boost your earnings with Automatic Savings features.

The Chime Savings Account does not charge you any monthly fees. There’s no minimum balance requirement either – as long as you have a balance of at least $0.01 in your account, you’ll earn interest. And, there are no maximums on the interest you can earn.

Chime Mobile Banking app

Chime has a mobile banking app that’s available to consumers through both the App Store and the Google Play store. Download it, and you can access your banking through Chime whenever you need to.

You can access lots of products, services, and features from Chime, such as Mobile Check Deposit, online bill pay, and instant transfers with Pay Anyone, through the Chime app. You can transfer money to and from external bank accounts. You can also check your balance on the go.

The Chime app also supports mobile payment platforms, such as Apple Pay, Google Wallet, and Samsung Pay, meaning that you can leave your wallet at home.

Fee-free Chime ATM Locations

With Chime, you get access to more than 50,000 fee-free ATMs. Chime says that this is more fee-free ATMs than you get from the top three national banks combined.

Handily enough, the company allows you to find a convenient ATM near you with the Chime app.

You can find fee-free ATMs at stores like Walgreens, 7-Eleven, Target, Circle K, and CVS Pharmacy, and access your money when you need it.

You can use your debit card at an ATM to withdraw cash from your Checking Account. And, you can also use your Chime Credit Builder Secured Visa Credit card to get cash and Chime won’t charge you interest.

Chime allows you to deposit cash to your Chime card without paying a fee at more than 8,000 Walgreens and Duane Reade locations as well.

Also, you can visit this page to search for in-network ATMs near you. You can view a list of ATMs and a map. So, that’s handy.

MyPay

Another really great feature of Chime that kind of puts in ahead of banks in some regard is that is offers cash advances.

With MyPay, you can get a cash advance of between $20 to $500.

You can get the money within 24 hours without having to pay any fees. Or, if you want the money instantly, you can do so if you pay a fee of $2.

You can access the money that’s available to you directly from the Chime app and it’s transferred into your Chime checking account.

No credit check is required to get a cash advance from Chime and there’s no monthly fee charged either.

To get a cash advance through MyPay, you will need to set up a qualifying direct deposit of at least $200.

And, you must have an activated physical Chime card and live in a state where MyPay is offered. If you become eligible, you’ll be invited to unlock MyPay.

Chime Get Paid Early

Again, Chime is ahead of your traditional banks in many ways, and this includes the fact that it allows you to get paid early.

Through the Chime Get Paid Early feature, you can get your direct deposit up to two days early through Chime.

You just need to set up direct deposit through Chime to get started. You’ll get notified as soon as your paycheck is available. Chime early direct deposit is automatic. Chime will give you access to your paycheck as soon as it gets it.

You’ll get your paycheck up to two days faster than you’d get it at some traditional banks.

Cash back with Chime Deals

Chime also gives you cashback on everyday purchases with Chime Deals.

Chime Deals is a feature that allows Chime members to get cashback on everyday purchases through in-app deals. Just browse the app for the retailers that you’re planning to visit, and then select the cashback deals that you want.

You can get cashback on things like gas and groceries and at restaurants near you.

Simply open the Chime app and look for Chime Deals on the home screen. Then, you will be able to pinpoint cashback deals at retailers near you – just like you can find Chime ATMs near you. Just activate the Chime Deals that you want when you are ready.

Once you’ve activated a cashback deal, you have a set time period, which is typically four hours, to redeem it. Chime recommends that you wait to activate a deal until you’re about to leave the house to go to the gas station, grocery store, or restaurant.

Basically, Chime Deals rewards you for purchases that you already make – like buying groceries, filling up on gas, or eating at local restaurants.

You don’t need a cashback rewards card to use Chime Deals either. Simply swipe your Chime Visa Debit Card, or Chime Credit Builder Secured Visa Credit Card at the retailer, and you will claim your cashback rewards.

Any cashback you earn will be deposited into your Chime Checking Account within ten business days. And, you can spend the cash however you want.

Chime Pay Anyone

One of the best features of Chime, and certainly one that makes it so appealing to budget-conscious consumers, is the fact that Chime allows you to send and receive money instantly, without paying fees. This can be done through a feature called Chime Pay Anyone.

With Chime Pay Anyone, you can instantly pay people through Chime, whatever bank account they use. And payments are safe and secure. There are no instant transfer fees either.

You can securely pay anyone through Chime in seconds. All they need is a valid debit card to claim their cash. No sign-up is needed.

Chime Tax Refund

Chime can also help you with your federal tax refund. You can get your tax refund up to six days early when you direct deposit with Chime.

Direct deposit your federal tax refund and you can get it up to six days early right to your Chime account. Chime will even alert you as soon as your refund hits.

According to Chime, more than $19 billion in tax refund payments have been processed by the company to date, and more than 11 million tax deposits have been deposited to Chime member accounts to date.

Is Chime Legit?

Now for the important question – is Chime legit?

When it comes to money, we want to make sure that our money is in good hands. That’s why it’s so important to do your research and read reviews.

Overall, Chime is a legit company that’s been featured by many well-known media outlets, like Forbes and the Wall Street Journal.

Chime is indeed a real financial service company that’s headquartered in San Francisco and has additional offices in Chicago and Vancouver.

Also, Chime uses 128-bit AES encryption, access control, and security processes to make sure that your money is always safe.

And, if you happen to notice that there’s an unauthorized transaction on your account, then you can disable transactions on your Chime card immediately in the settings section of the Chime app and website to prevent any more unauthorized card transactions.

So, Chime is not a scam. Let’s take a look at how customers rate and review Chime on various platforms online.

Chime Customer Reviews

Overall, Chime is well-rated by customers who praise the company for a variety of things, such as the fact that it gives them the ability to get their paycheck early, that they don’t have to pay fees, how it helps them to build credit, how useful the SpotMe feature is, the company’s 24/7 customer support, and how it offers a convenient banking experience.

Although Chime is mostly well-rated online, it does have some negative reviews.

Chime is very well-reviewed by customers on some platforms, and negatively reviewed by customers on others.

Here’s how Chime is rated and reviewed by customers across a few different platforms.

The Google Play store

On the Google Play store, Chime has a rating of 4.6 stars. So, it’s positively reviewed, and the majority of people on there report that they’ve had a good experience with using Chime.

The App Store

Chime is very well-rated on the App Store where it has a rating of 4.8 stars. Most customers report having a positive experience using Chime.

Trustpilot

Chime is not very well-rated by customers on Trustpilot. In fact, it has just 2.3 stars, which is a rating of “Poor,” on there.

The Better Business Bureau (BBB)

Chime has a rating of C+ from the Better Business Bureau (BBB). It is not accredited by the BBB.

Customer reviews of Chime on the BBB are very positive. In fact, Chime has a 4.18-star rating from customers on there.

Negative Chime reviews

Okay, so as you can see, Chime does have mostly positive reviews from customers. However, I did see some negative reviews. Some of the most common complaints from Chime customers were that:

• Depositing money sometimes requires a fee.
• Chime closed their account without providing a sufficient reason.
• If money went missing or there was a fraudulent transaction, Chime didn’t recover the funds.

Chime customer support

Another factor that can determine whether or not a company is legit is whether it actually has any type of customer support in place. Being able to get in touch with a company that’s handling your money is so important.

The Chime Member Services team is available 24 hours a day, 7 days a week. If you need to contact Chime customer service, you can call the company at (844) 244-6363, or you can chat with support in your Chime app by tapping the question mark icon at the top of the screen.

So, it’s great that customer support is available 24/7 and that Chime actually has a number that you can call. Many places just have an email address you can use to contact them. So, overall, Chime makes it easy for customers to get in touch when they need assistance.

Chime Pros & Cons

Okay, so now you know how Chime works and how Chime is rated and reviewed by other customers. And, I’ve told you that Chime is indeed legit. So, you don’t have to worry about being scammed by the company or anything.

However, you may still be unsure as to whether this financial services company is for you. After all, we’re talking about your hard-earned money here, right? So, you want to make sure that the company is a good fit for you.

To help you decide whether the company is right for you, I’ll cover some pros and cons of Chime.

Pros

We’ll keep things positive and start out with the pros!

• No fees: I mean we all want to save money where we can, so the fact Chime doesn’t charge any fees is a huge plus.
• Access lots of services and features: Chime has a large suite of services and features available, such as a checking account, a savings account, cash advances, overdrafts, and cashback deals.
• It helps you to build credit: This is ideal if you are looking for a way to improve your credit score. No credit check is required either.
• Get access to more than 50,000 ATMs: That’s a lot of ATMs that you can use to access your cash and they’re fee-free too!
• Access tons of features and services all from one app: The app is very convenient allowing you to access a bunch of services, like mobile check deposit, online bill pay, and instant transfers with Pay Anyone, all in one place. You can even check your balance on the go.
• Automated savings tools available: This can help you to save more money, easily.
• No minimum opening deposits: This means that you can open an account with Chime, even when money is tight.
• Get your paycheck early: With Chime’s Get Paid Early feature, you can get your direct deposit up to two days early through Chime. This is handy when you need money fast.
• Offers an easy online banking experience: Chime is really easy to use, so banking with the company is simple, which is what you want!
• Good customer support: Customer support is available by phone and chat in the Chime app. Support is available 24/7.
• Get a Chime debit card that makes handling your cash easy: Use the card anywhere that Visa is accepted. And, you can even connect the card to your mobile device. You can even turn on Round Ups and Chime will transfer the change from the purchases you make with your debit card right to your savings account.

Cons

Now, let’s take a look at the cons of Chime:

• No interest available on checking accounts: So, if you want to earn interest with a checking account, then Chime isn’t for you.
• No physical branches available: Chime is a financial services company and not a bank, so unlike a traditional bank, it does not have branches. So, if you want to be able to talk to someone face to face, or do your banking in-person, then you won’t be able to.
• It doesn’t offer certificates of deposit (CDs) or money market accounts: If you are wanting not just a checking account and savings account, but also CDs or money market accounts, Chime isn’t the company for you as it doesn’t offer them.
• Sometimes fees apply: Although Chime’s services are typically fee-free, there are some exceptions. For example, when you make a cash deposit into your Chime account at a retailer other than Walgreens or Duane Reade, you’ll be charged a fee.
• Direct deposit required for mobile check deposit. This means that you can only use the mobile check deposit feature if you receive direct deposits, and not everyone does.

Chime FAQs

We’ve covered a lot already in this Chime review, but you still may have questions. That’s why I’ve included some answers to common questions that people have about Chime.

After all, the more you know about a company, the easier it is to make a decision about whether to use their services!

Let’s take a look at some Chime FAQs.

Is Chime a bank?

No, Chime is not a bank. It is a financial technology company that offers banking services. Chime’s services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A

Is Chime FDIC Insured?

Although Chime is a financial technology company, and not a bank, accounts that you open through Chime are protected by FDIC insurance. The company’s partners, The Bancorp Bank, N.A. and Stride Bank, N.A., are both FDIC members.

Chime bank accounts are insured of up the standard maximum deposit insurance amount of $250,000 through its partners. So, any money that you deposit into your Chime account will be protected up to the FDIC coverage limit.

Does Chime have fees?

Most of Chime’s services are fee-free. So, for example, Chime does not charge monthly fees, and you can get a fee-free overdraft of up to $200. However, there are some exceptions.

For example, you’ll be charged a fee if you make a cash deposit into your Chime account at retailers other than Walgreens and Duane Reade.

So, don’t assume that all of Chime’s services are fee-free.

Be sure to read the fine print first so you know whether you’ll be charged a fee for using a particular product, service, or feature of Chime.

Is Chime safe to send money?

Yes. Your payments are protected and insured. You can use it to send money to many places. You can even send money from Chime to Cash App.

Any funds in your Chime accounts are FDIC insured up to $250,000 through Chime’s bank partners – The Bancorp Bank, N.A. or Stride Bank.

And, Pay Anyone payments are safeguarded.

Also, Chime says that it runs periodic security tests of its systems to keep your money safe and secure.

Does Chime require a credit check?

Chime does not check your credit score when you apply for a credit card, debit card, checking account, or savings account.

Is Chime legit to build credit?

Yes. Chime allows you to build credit by using the Chime Credit Builder Secured Visa Credit Card. This card has no annual fees or interest.

Fund the Credit Builder secured deposit account with a security deposit, swipe the credit card when paying for your everyday purchases, and make on-time payments each month and this will help to build your credit.

Is Chime good?

Overall, Chime is a good financial service company offering a suite of products, and services through its partner banks. It can help you to avoid fees and build credit.

Is Chime a trustworthy app?

The Chime app, which is available for both android devices and iOS devices, is a trustworthy app. Consumers have rated the app well on the Google Play store, where it has 4.6 stars, and on the App Store, where it has 4.8 stars.

Is Chime real or fake?

Chime is indeed a real company, with headquarters in San Francisco. It has been featured by lots of well-known media outlets, and it is well-reviewed by consumers.

Can Chime be trusted?

Chime can be trusted. Your money is FDIC insured, and if you have any issues, Chime customer support is available 24/7.

However, some users on the BBB and Trustpilot reported that when they disputed a transaction, Chime didn’t recover their cash and others said that they had their accounts closed.

So, there are some negative reviews of Chime out there.

Overall, though, Chime is a trustworthy company.

Does Chime really give you money?

Yes, Chime gives you money in a few ways. You can get cash advances of between $20 to $500 with Chime’s MyPay feature, and you can get an overdraft of up to $200 without fees through Chime’s SpotMe Fee-Free overdraft.

You can get spotted on debit card purchases, credit card purchases, and cash withdrawals. Chime will spot you up to $200 on debit card purchases and cash withdrawals with no overdraft fees.

Chime also has a credit card available to consumers. There are cashback deals available too.

Does Chime refund money if scammed?

Okay, so this is a complex one. Chime itself states that Chime cards are backed by Visa’s Zero Liability Policy.

This means that members can shop at millions of locations and know that they are not responsible for unauthorized charges if their Chime Visa Debit Card or Chime Credit Builder Secured Visa Credit Card is lost, stolen, or fraudulently used either online or offline.

Despite this, I have seen quite a few reports from Chime customers complaining that Chime failed to help them to return their funds. Now, this may not be common with Chime, but it does seem to happen.

In this Reddit thread, for example, people mention the issue of getting Chime to return their funds to them.

What is required to open a Chime account?

To open a Chime account, you need to be a U.S. citizen and at least 18 years old. You’ll also need to have your Social Security Number, email address, and a valid home address.

Who is Chime best for?

Chime is best for anyone who’s looking for a checking account that doesn’t come with fees. And, for those who want to automate savings, build credit, or get a cash advance.

What are people saying about Chime?

Most people say that Chime is a good company, and that it has helped them to build credit, and that the company makes it easy to send and receive money.

Chime is well-reviewed across a number of platforms, including the BBB, the Google Play store, and the App Store. Of course, there are some negative reviews of Chime, but customers mostly have a good experience with the company.

Check out this Reddit thread to see what people are saying about Chime.

What is the downside of Chime?

Despite having a lot of positives, Chime does have a couple of downsides. It doesn’t offer as wide a range of account as some traditional banks do, it doesn’t have any physical locations, so you can’t get face-to-face assistance or do your banking in person, and sometimes you have to pay fees to deposit cash into your account.

Overall Verdict

Overall, Chime is a legit company that allows you to enjoy fee-free checking and savings accounts, as well as a plethora of other features, such as a fee-free overdraft, cash advances, credit cards, instant money transfers, and cashback deals.

It’s pretty well-rated by users online. For anyone looking to avoid the fees that come along with traditional banks, Chime is a great choice.

Hopefully, this Chime review helped you to decide whether or not to bank with the company.