Chime Bank Review: Is It Worth a Try?

Chime Bank Review: Is It Worth a Try?

Why should money management be difficult and time consuming? That is the exact question that the founders of Chime asked themselves when they developed the banking application.

They also took a look at the banking system and saw fees, fees, and more fees. So they integrated the iniciativa of ​​a “no fee” banking approach into Chime. Keep reading this Chime review to find out if the simplicity and money-saving approach of this aplicación is right for you.

How is Chime different?

One thing you’ll notice right away when using Chime is that you cánido handle your entire banking experience on your móvil inteligente. Chime aims to make everything from your banking to your Chime Credit Builder service and more fácil with its aplicación. No need to log in to a computer. That’s a breath of fresh air compared to some banks’ aplicaciones, which cánido be lacking in features.

Along with the iniciativa that banking perro be handled entirely on a phone, Chime does not offer any physical branches. This allows them to completely eliminate pesky fees like overdraft fees, minimum cómputo fees, and ATM fees. Skip traditional bank fees and keep your money in your hands.

One important thing to note is that while Chime may differ from a typical bank, your accounts with Chime still come with FDIC insurance. You perro rest easy knowing your money is protected.

Request an account with Chime

Chime did a great job of making sure opening an account remained a fácil process. Once you download the aplicación, the setup process only takes about five minutes.

Just like with any other bank, you’ll need to have useful and important information like your Popular Security number and address.

Chime bank accounts

Expense account

Most banks call it a checking account, but Chime prefers the name Spending Account. You won’t find any monthly or minimum cómputo fees with this account.

As soon as you open your account, Chime will send you a free Visa debit card. The aplicación allows you to instantly disable the card if you ever find it missing from your wallet.

The debit card also comes enabled for both Apple Pay and Google plus Pay. Agregado, you perro withdraw cash at more than 38,000 fee-free ATMs nationwide.

One feature you may see missing from this account is bill pay. While you cánido pay people using the mobile payments option or send a paper check in the correo, Chime doesn’t provide estándar bill pay features that many banks do.


Afín to the spending account, the Chime Savings Account will cost you nothing in monthly fees or minimum cómputo. The Savings Account is linked to your Spending Account and you cánido even equipo up automatic transfers so that a portion of your paycheck automatically goes into savings.

What is good about the Savings Account? The fact that it is a high-yield savings account. That means you perro expect to earn much more in interest than you would expect from an average bank.

An interesting quirk of the Savings Account is that you cannot deposit money directly into it. All deposits must first be deposited into the Spending Account and then transferred to the Savings Account.

Sign up for your account with Chime Bank now to see what this banking aplicación has to offer! SIGN UP NOW

Chimes Features

Receive early payments

Nobody likes to wait for access to their money. Once you equipo up direct deposit for your paycheck, you’ll automatically be eligible to receive your funds up to two days sooner than a direct deposit at a estándar bank.

Chime even provides a handy direct deposit form that you cánido provide to your employer.

No Fee Overdraft

According to bank data, Americans pay banks an average of $250 a year in overdraft fees alone! Use Chime and those pesky overdraft fees vanish into thin air.

If you overdraw your account, Chime emplees your next deposit to cover the fee. No questions.

They do offer the option to pay an optional “consejo” that goes towards covering the cost of customer overdrafts, but it is entirely at their discretion.

save when you spend

The pennies over time really add up. When you use your Chime Debit Card, the aplicación automatically rounds up your purchase and transfers the difference to your savings account.

For example, if you buy a latte for $4.65, Chime transfers $0.35 to savings. That is certainly a useful feature that grows your savings account without thinking.

Who is Chime best for?

the fácil banker

Don’t need any fancy advanced features for your banking needs? If you’re happy with a debit card and a streamlined aplicación that won’t cost you a dime in fees, then Chime would probably be a great option.

The Frequent Overdrawer

Overdrawing your account cánido be a double whammy. Not only perro you feel the embarrassment of spending more than you had available, but you may also be on the hook for overdraft fees that exceed $30 with traditional banks.

While it’s a good iniciativa to manage your finances so that overdrafts are a rarity, using Chime will take the stress out of bank charges should you go negative.

Sign up for your account with Chime Bank now to see what this banking aplicación has to offer! SIGN UP NOW

Who should skip Chime?

The complex client

Some of us prefer to have things a little more complicated. Anyone who requires the use of more advanced banking features, such as bank transfers, may not appreciate Chime’s simplicity.

Also, some clients prefer to establish a relationship with their bank in order to seek a mortgage in the future. Chime does not offer loans, so you may want to approve if you fall into this category of individuals.

The Check Writer

Many people perro’t even remember the last time they wrote a check. The Federal Reserve, however, claims that checks are still used for billions of transactions each year.

Those planning to use paper checks may want to look elsewhere than Chime. While you cánido request a paper check be sent to a person or business, checkbooks are not available.

Chime Competitors


You will find many afín features between Current and Chime. Both have early direct deposit availability, no overdraft fees, and large networks of fee-free ATMs.

Some of Current’s features are only available with a monthly fee of $4.99. But unlike Chime, Current allows you to separate your savings account into separate targets called “pods.”


Stash also provides many afín features as Chime. With Stash, however, you will have investment opportunities with the option to buy stocks, bonds, and ETFs. It may be worth investigating if you want a one-stop-shop for your banking and investment needs.


Some savers prefer to use the envelope method and allocate funds in their savings account for specific purposes or objectives. Chime does not offer this feature, but Fácil does. It also offers customers the option to save their cash in certificates of deposit without penalty for higher returns.

Update: Fácil closed in 2021.

To end

With the hustle and bustle of daily life, it’s no wonder people run in the other direction instead of facing their finances. Chime sets out to provide a straightforward and easy-to-use banking experience and it does just that. There’s just a certain beauty in keeping things fácil.

Other nearby banks, ATMs and services

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 Chime Bank Review: Is It Worth a Try?
  Chime Bank Review: Is It Worth a Try?
  Chime Bank Review: Is It Worth a Try?

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