Chime Banking Review: Is It the Right Bank Account for You?

By J.R. Duren
HighYa Staff
Updated on: Jun 6, 2019

Chime Bank is an online bank that offers checking and savings accounts that don’t charge fees.

The bank was founded in 2013, according to its LinkedIn profile, under the leadership of co-founders Chris Britt and Ryan King. Britt is the company’s current CEO, while King is Chime’s CTO.

Britt has a lot of experience working in the credit card and prepaid card industry. He was chief product officer and a senior vice president at prepaid card company Green Dot Corporation, as well as a Senior Product Leader at Visa.

King has a lot of experience working IT in Silicon Valley – he was CTO and Vice President of Comcast Silicon Valley from May 2011 to November 2012, according to his LinkedIn profile.

The bank has grown in popularity as Millennials have shunned big banks in search of smaller, online banks who don’t charge fees and function through app-based banking.

“It is an upstart bank account that pitches itself as being built for a more technologically savvy-generation,” a Jan. 2016 Fortune article said. “Unlike big banks, Chime was created during the smartphone era and, therefore, features an app that is more than just a way for customers to review their bank accounts.”

Chime certainly has, from our perspective, brand recognition and relevancy, but what exactly do they offer? In our review, we’ll discuss how the bank works, the fees it charges and what customers are saying about their Chime experience.

How Chime Works

Chime offers the basics you’d get with a traditional banking experience: checking, savings, and an app. However, as you’ll read, these features have nuances that separate them from big banks.

Chime Checking

Chime’s checking accounts are called “Spending” accounts and are purely online. There are no Chime brick-and-mortar stores.

At the time of publishing, Chime offered four ways to deposit money into your account: Direct Deposit, ATM deposits, and bank transfers.

Direct Deposit is pretty standard among banks, but Chime says that you might be able to receive your paycheck up to two days early.

Chime gives you a Visa debit card with which you can pay for stuff like groceries or bills, but you can also use it to deposit cash to your Chime account via Green Dot ATMs. If you remember from our introduction, Green Dot is where Chime’s CEO used to work.

According to Chime’s website, you may have to pay fees to do a transaction at a Green Dot ATM.

Chime says that you can deposit money from any of your existing bank accounts into your Chime account for free. However, Chime limits these transactions to $200 a day and $1,000 per month.

You also have the ability to make instant transfers to fellow Chime members via the app’s “Pay Friends” feature.

Also, you have the ability to deposit checks by using their photo deposit feature.

Pro tip: At the time of publishing, Chime Bank did not offer joint spending accounts.

Chime Savings Account

Chime’s savings account is one in which you deposit money with what’s known as a “round-up.” If your grocery bill, for example, comes out to $51.63, then Chime automatically deposits $0.37 (the “round-up” to the next dollar).

This is nothing new – Bank of America started a program like this around a decade ago.

The Chime App

You can follow your account, spending, and other data through Chime’s app, which is available for Android and iOS.

The app is, basically, your bank. It’s where you go to check your balance, find out if deposits have arrived in your account and see where your money is going.

Like other banking apps, you can use Chime’s app to find ATMs, conduct transactions and check your balance. The app also notifies you when transactions take place.

If you want to access your bank statements, you have to do so through Chime.com. The previous month’s statement is available on the 5th of the following month, Chime’s FAQ section says.

Pro tip: Chime lets you send paper checks via your chime account anywhere within the 50 states. Checks will take three to nine business days to arrive at the payee’s address.

Chimes Bank’s Fees and Spending Limits

Chime’s Spending and Savings don’t charge monthly fees or overdraft fees. However, there are fees and spending limits related to their accounts that you need to know.

Chime Bank’s Fees

After reading through Chime’s fine print, we found only one fee: a $2.50 charge for using out-of-network ATMs.

Chime says they will charge you $2.50 for withdrawing money from any non-MoneyPass ATM locations, and that some financial institutions may charge a fee for checking your balance or attempting a withdrawal without actually withdrawing money.

Here’s how their fine print puts it:

“If you use an ATM not owned by us for any transaction, including a balance inquiry, you may be charged a fee by the ATM operator even if you do not complete a withdrawal. This ATM fee is a third-party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to your Spending Account.”

Chime’s Spending Limits

Further reading in Chime Bank’s fine print revealed a series of limits on transactions that would be helpful for you to know about.

For the first 30 days you have your account, any check deposits above $5,000 will be split up. The first $5,000 is available the next day, but it could take up to nine days to see the remaining amount in your account.

Chime puts a $5,000 limit on the payment amounts you can make at one time with a check and a $10,000 limit on all checks written in a month.

As we mentioned earlier, Chime limits transfer to your account from other bank accounts to $200 a day and $1,000 a month.

Also, Chime limits your daily cash deposits to $1,000 a day and $10,000 a month.

Overdrawn Accounts

Chime may not process a payment if it requires more money than what you’ve got in your account. If for some reason, you have a negative balance, Chime says you need to make an immediate deposit to push your account back into a positive balance. If your account has a negative balance for 90 days, Chime says they’ll close your account.

Debit Card Restrictions

You can do an unlimited amount of Chime debit card withdrawals during any given day. However, your ATM withdrawal limit is $500 per day. The same rules apply to getting cash back at a point-of-sale.

Chime says your debit card purchases will be limited to $2,500 per day.

Chime Banking Customer Service

If you need to contact Chime, you can do so via calling their customer service phone number from 7 a.m. to 7 p.m. CST Monday through Saturday and from 9 a.m. to 5 p.m. CST on Sundays. You can also contact them through their app, as well as via their email address: support@chime.com.

Reviews of Chime Banking

Chime’s mobile banking apps get excellent reviews from users. At the time of publishing, the app had a 4.7 rating from more than 34,000 reviews in the iTunes store and 4.6 stars from more than 34,000 reviews in the Google Play store.

There wasn’t a high rate of bad reviews for the apps. Those that were negative focused on the limitations of the card and, in some cases, it took longer than anticipated for money to show up in the user’s Chime Spending and Savings accounts.

Our Final Thoughts About Chime Bank

Based on our research of this app, we believe the banking company's best features are its lack of a monthly fee as well as the ease with which you can use their app. Banks like Bank of America and Chase make a practice of charging customers each month to have a checking or savings account.

Chime doesn’t, nor does the company charge you when you overdraw your account. Considering that banks like Chase and Bank of America will charge you $34 and $35 for an overdrawn account, not worrying about those fees with Chime is a definite benefit.

The drawbacks to the banking app are that their ATM fees can be expensive if you’re not near an in-network ATM, which typically isn’t a problem you face with a traditional bank. However, considering that banking is becoming mobile and ATM withdrawals are declining in popularity, this may not be a big deal.

In general, we believe that Chime offers an excellent platform for someone who wants to take their banking online, receives direct deposits from their employer and wants to escape the monthly fees they pay at a bank.

Sign Up for HighYa Newsletter

Sign up for HighYa newsletter and get our best content delivered in your inbox as well as 3 free eBooks to help you save money and shop smarter. Enter your email below to get started!


Read 306 Chime Banking Customer Reviews and Complaints

Write a Review
Average Consumer Rating: 3.8
Rating Snapshot:
5 star: 193 4 star: 22 3 star: 5 2 star: 7 1 star:  79
Bottom Line: 72% would recommend it to a friend
Showing 1-11 of 306
Sort reviews by:

  • I love using Chime!

    • Allentown, PA,
    • Jul 15, 2019
    • Verified Reviewer

    I have been using Chime since November. I have not had a single problem with the company or with the app. I can use it anywhere. They give you a map of ATM's around that are fee-free to withdraw money. My check is direct-deposited easily and you get a notification right away. The app is user-friendly, super easy! You'll love it!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Amazing

    • Texas,
    • Jul 11, 2019
    • Verified Reviewer

    Round up perks are the best and no hidden fees or monthly fees. And I get paid two days early, what else can I ask for? It’s the best prepaid I have ever owned. Thanks Chime team. You have made my pay experience the best and my deposits come through as promised.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Great experiences

    • New Jersey,
    • Jul 11, 2019
    • Verified Reviewer

    This card is true to its word...I now have the pleasure of getting my deposit two days early! And the bonus...if you opt to, the change left from all your purchases can go into the savings, which adds up and can be transferred to your spending account! Thanks Chime...you ROCK!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 2 out 2 people found this review helpful

    Closed account without warning

    • Ohio,
    • Jul 10, 2019
    • Verified Reviewer

    So my account was just closed without warning. They said they will send me a check within 30 days. I've had Chime for years with no issues. So now I have to wait to get my money back. I have bills and responsibilities. This is so ridiculous! So be aware they can close your account without warning and you're stuck without your money until they mail you a check.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 4 out 5 people found this review helpful

    Chime mobile banking app

    • Denton, TX,
    • Jul 2, 2019
    • Verified Reviewer

    Chime is definitely among the best banks in America right now. Not only do you avoid hundreds of fees it also offers suggestions such as how much to tip and security check-ups. The list could go on!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 2 out 4 people found this review helpful

    Chime is great

    • Oklahoma,
    • Jul 2, 2019
    • Verified Reviewer

    I haven't been using Chime for about a few months now and when I saw them online I was kind of curious as a man, you know. I did a little research about time and everything and you know, looked over you know, the terms and you know, privacies and insurance and everything. I say "and everything" was legit compared to other debit cards alike, but one thing that I found out about Chime is that they are one solid company. You know their cards are connected to the app and there is no other third-party company, you know, connected to their, you know, to their company and you know. And I like it. I like everything - the features, the options, the promotion, everything that they give you within an app is like a one, and you said, try it.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 3 out 4 people found this review helpful

    Banking made easy

    • Peoria, IL,
    • Jul 1, 2019
    • Verified Reviewer

    Well, where do I start? Ok, so if you're looking for convenience then Chime is definitely for you. Plus you can get paid up to two days earlier, which I liked. And they will even pay you and a friend $50 if they join Chime through your referral link and they have a deposit of more than $200. And I like that you get to do everything on the Chime app like a real bank account. Overall I'm completely satisfied with the Chime banking and recommend that everyone join in.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 2 out 3 people found this review helpful

    Chime is the deal

    • Ohio,
    • Jul 1, 2019
    • Verified Reviewer

    Everything they advertise is true. You do get cash back. And if you have direct deposit your money comes early! I would recommend Chime to anyone! Chime has made my day more than once!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 2 out 3 people found this review helpful

    Top notch

    • Miami, FL,
    • Jun 28, 2019
    • Verified Reviewer

    I honestly think it's one of the best and reliable things out there. When they say you'll get paid up to two days earlier, they mean it. No hidden fees, a real routing and account number, easy setup. I definitely give it a 5-star rating.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 3 out 4 people found this review helpful

    Excellent benefits/paid early

    • Hendersonville, TN,
    • Jun 27, 2019
    • Verified Reviewer

    Chime is the BEST bank EVER! I get paid 2 days early. NO monthly fees, you DON'T have to have a minimum amount in your account. Chime has a NEW feature of spotting you with $20.00 till your next payday...FREE OF CHARGE...did I say FREE?! AWESOME customer service ALWAYS. Thank you Chime bank!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 2 out 2 people found this review helpful

    Deposit and then account being closed

    • South Carolina,
    • Jun 26, 2019
    • Verified Reviewer

    I decided to use my Chime card to spend some extra cash shopping. As soon as I load $500 within the hour my account was closed and I wasn't given a reason but that a physical check would be mailed to my address. Honestly, I want my money RIGHT NOW! You didn't hesitate to close the account with my money in there so why wait to get it returned to me. I was locked out of the app and all. This is so unprofessional and I will never recommend this card to anyone!

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

Showing 1-11 of 306

Write a Review for Chime Banking!

Share your experience to help others shop smarter & discover great products.

Write a Review