Chime Review 2025 – Checking and Savings

Chime®¹ merges the best attributes of traditional deposit accounts and automated savings apps in a sleek, low-cost package. It’s a mobile-first solution for on-the-go consumers serious about saving and spending wisely.

Anyone with a U.S. address can open a Chime account. Every account holder gets an FDIC-insured checking account, known as the Chime Checking Account¹. It’s an FDIC-insured savings account, and a Visa debit card¹ connected to the checking account. There’s no monthly maintenance fee for the Chime Checking Account. And Chime has a cool automated savings feature that takes the grunt work out of setting funds aside.

Chime is definitely not a full-service online financial services provider. If you expect it to be, you’re setting yourself up for disappointment. You won’t find any CDs, money markets, investment options, or loan products here — other than a handy but limited secured credit card². But you should read on to learn more about what Chime has to offer.

Key Features of Chime

If all you need is a checking and savings portal with no monthly fees that helps you save every day, Chime could be your financial app. Here’s what you need to know about its features, advantages, disadvantages, and overall suitability.

Deposit Account (Chime Checking Account)

Chime’s central feature is its deposit account. This is a standard-issue checking account, known internally as the Chime Checking Account.

The Chime Checking Account has no opening deposit requirement, minimum balance requirement, or monthly fees. You can set up an individual or joint account, depending on your lifestyle and preferences. If you don’t have direct deposit or mobile check deposit set up, you can transfer money from external bank accounts into your Chime Checking Account, subject to certain transfer limits and restrictions.

Savings Account

Chime also offers a savings account to every Chime Checking Account customer, but you’re under no obligation to open one.

Outbound transfers are limited by law to six per month, so this account isn’t suitable for day-to-day use. You can make unlimited inbound transfers from your Chime Checking Account, however. There’s no minimum or maximum balance requirement, although accounts with $0 balances for nine consecutive months are subject to closure.

Chime Savings has a solid yield on all balances, subject to change with prevailing interest rates.

Chime Visa® Debit Card¹

All Chime deposit account holders get a Visa debit card that can be used to make purchases anywhere Visa is accepted. You can make cash withdrawals at more than 47,000 ATMs⁷ nationwide and get cash back on point-of-sale transactions at a comparable number of retail locations.

SpotMe® for Overdrafts⁵

Chime’s Checking Accounts come with an optional overdraft feature plan called SpotMe. SpotMe®⁵ is an optional service that requires a single qualifying direct deposit of $200 or more to your Chime Checking Account. Limits start at $20 and may be increased up to $200 by Chime based on factors such as account history and activity.

Early Direct Deposit

If your employer or benefits provider permits direct deposit payments, you can take advantage of Chime’s Early Direct Deposit feature. From the payee’s perspective, Early Direct Deposit functions just like any other direct deposit or ACH transfer. Chime claims direct deposit payees receive their money up to two days faster⁶ than payees who opt for traditional paper checks. It’s not clear how this time frame compares to other money management providers’ direct deposit arrangements.

Mobile Check Deposit

Chime has a user-friendly, fee-free mobile check deposit tool that lets you deposit paper checks using only your mobile phone. You’re not automatically permitted to use this feature, however: Chime has sole discretion over who it approves (and when).

Automatic Savings Transfers

Chime gives account holders two ways to save more of what they earn:

• Save When You Spend: Chime automatically rounds up every debit card transaction to the nearest dollar and deposits the difference into your savings account. This helps you save up to $0.99 per transaction with no action required on your part.
• You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account.

Bill Pay (Chime Checkbook)

The Chime Checkbook feature is a user-friendly mobile bill pay system that lets you pay one-off or recurring debts at your discretion. It’s free to use, although third-party processing fees may apply should your payees choose to levy them. You can send paper checks, pay with your Chime debit card, or use direct debit to pay without entering your card number.

Send Money to Anyone

Chime’s Pay Anyone feature lets you send money instantly to anyone at no cost, subject to aggregate monthly transfer limits of $2,000 or 15 discrete transfers⁸. You can use this feature to settle any personal debts, such as paying a friend back for picking up the restaurant tab or paying your share of your household’s monthly electricity bill.

Mobile Wallet Integrations

Chime Checking Accounts integrate seamlessly with three popular mobile wallet solutions: Apple Pay, Android Pay, and Samsung Pay.

Once set up, these solutions are easier to use than Chime’s traditional debit card. In person, all you have to do is tap your phone to the card reader. Online, these solutions support one-click ordering without requiring card number entry.

Block Card

If you lose or misplace your card or suspect it’s been stolen, Chime’s Block Card feature lets you put a temporary freeze on it until it’s located or cancelled.

Customer Support

Chime’s customer support team is available by phone and email. Phone support is live 7am to 7pm Central Monday through Saturday and 9am to 6pm Central on Sundays. Email queries are answered during business hours.

Advantages of Chime

Here’s what makes Chime stand out as a modern banking solution:

• No Monthly Maintenance Fees. Chime doesn’t charge monthly maintenance fees for Chime Checking Accounts, savings accounts, or debit cards. That puts it in a dwindling group of financial solutions, mostly online, that offer checking and savings accounts without monthly fees.
• Seamless Automated Savings. Chime offers two easy ways to boost your personal savings: rounding up every debit card transaction to the nearest dollar and automatically transferring part of your direct deposit paychecks.
• Direct Deposit Payments Come Up to Two Days Early⁶. When you set up Early Direct Deposit with Chime, you can receive your paycheck up to two days faster than your colleagues⁶. The exact timing varies by employer and may not be much different than other direct deposit arrangements, but that doesn’t change the fact that it’s nice to get paid early.
• No Fees to Send Money. It’s free to send money with Chime’s Pay Anyone feature⁸. The service isn’t totally unlimited: You can send up to 15 transfers and no more than $2,000 in the aggregate per calendar month. This discourages misuse by businesses looking to skirt ACH transfer fees. Still, it’s probably enough for the occasional split check.
• Access to 47,000+ Fee-Free ATMs and Cash-Back Points. Chime users enjoy fee-free access to more than 47,000 MoneyPass ATMs in the U.S. and a similar number of retail locations authorized to provide cash back during point-of-sale transactions⁷. In short, it’s fairly easy to tap your Chime account for hard cash.
• Multiple Mobile Wallet Integrations. Chime integrates with Apple Pay, Android Pay, and Samsung Pay — three increasingly common mobile payment tools accepted by thousands of retailers across the United States. Soon, you might be able to get away without using your physical Chime debit card at all.
• Cash Deposits Through Green Dot. Chime permits cash deposits at more than 47,000 Green Dot cash points nationwide. This is a key benefit for account holders who occasionally take payment in cash. After all, running a cash business isn’t necessarily nefarious: plenty of small-business owners and solopreneurs do it.

Disadvantages of Chime

Chime does have some drawbacks that impact its accessibility, and its pricing and incentives are not competitive with other top online money management providers’.

• No Account Opening Bonuses. You won’t find Chime on our monthly best bank account promotions list because, at least for the time being, Chime isn’t running any promotions for new account holders. Many leading online banks offer account opening bonuses of $100, $200, or more when applicants meet certain conditions. If boosting your balance right out of the gate is a top priority, consider CIT Bank, Capital One 360, or any of the dozens of other banks offering sign-up bonuses right now.
• No Physical Branches. Chime doesn’t have any physical branches. While this certainly helps keep fees low, it’s an issue for customers who appreciate face-to-face interaction. Gabbing with a faraway customer service rep just isn’t the same as sitting down in the same room as an experienced banker. Even some “online-only” banks, such as Capital One 360, have opened physical branches in recent years.
• No CDs or Money Markets. Chime doesn’t have any CD or money market options, both of which typically yield more than traditional savings accounts. Full-service online banks, such as TIAA Bank, do offer these products, as do established brick-and-mortar banks.
• No IRAs or Investment Products. Chime doesn’t offer any retirement or investment products: no individual retirement accounts (IRAs), money market, or brokerage accounts, and no taxable brokerage accounts either. If you’re looking for a full-service financial institution that lets you invest in market-traded securities, check out Ally Bank, whose Ally Invest division is a great low-cost option for everyday retail investors.
• No Loans. Chime doesn’t offer any loans. For big-ticket financing — auto loans, mortgages, personal loans — you’ll need to look to a traditional bank like Chase Bank, a nontraditional financing provider like Kabbage or OnDeck, or a full-service online bank like Ally.
• Limited Customer Support. Chime’s customer support team isn’t available around the clock, a notable disadvantage relative to established online banks like Ally. Chime reps answer the phone from early morning to early evening, and answer emails within one to two business days. For customers who work long, odd hours, and those who need urgent assistance outside regular business hours, that might not be good enough.

How Chime Stacks Up

Chime isn’t the only financial app that can help you bring order to your day-to-day finances. It competes with quite a few others. Among the most notable is Wealthfront, a popular money management and investment platform.

Here’s how Chime and Wealthfront compare.

Final Word

Chime®¹ isn’t exactly revolutionary, but it’s definitely a big step forward in consumer finance’s ongoing evolution. As checking accounts with no monthly fees grow ever rarer and more restricted, it’s nice to see at least one ambitious company holding it down for fee-averse folks seeking somewhere — anywhere — to stash their spending money and short-term savings while building credit in the process.

1. Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A., Inc. and may be used everywhere Visa debit cards are accepted. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
2. To apply for a Chime Card, Chime® Checking Account is required to apply.
3. Money added to Chime Card™ will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
4. Based on a representative study conducted by Experian® in January 2024 members who made their first purchase with Credit Builder, an earlier version of Chime Card, between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. A credit score improvement is not guaranteed. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Activity on other credit accounts may also impact your score.
5. SpotMe® eligibility requirements and limits apply. Overdraft only applies to debit and credit card transactions and cash withdrawals. Limits range from $20-$200. Chime® Checking Account required.
6. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
7. Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
8. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.