I discovered Chime a couple of years ago, via a Facebook advertisement, and figured their claims would be "too good to be true"...But on a whim, I signed up for their service, and I remain an evangelist for their fresh take on mobile banking services. They operate a virtually fee-less service...I have only encountered one fee type that they charge, and I find it to be a reasonable trade-off for all that I get fee-free ($2.50 surcharge for using an out of network ATM for cash withdrawals, on top of any surcharge levied by the owner of the ATM terminal).
I gave you the bad news first. Now for the litany of amazing free services in the portfolio that is offered to their basic accounts:
- Free Visa debit card...but you knew that much.
- Get direct deposit? They make your deposits available to you immediately upon their receiving the funds - often a day or two before you would get them at other banks!
- They don't give you a checkbook - but if you need a paper check, fill out a short form in the application and they will print the check and mail it for you at no cost! And they draft the check value immediately so you can be certain that it will clear!
- Need to send money to a friend? If they also bank with Chime, you can send to them instantly, for free. If they aren't banking with Chime, you can send them the money using their email or phone number, and once they sign up the money will be waiting for them.
- If someone writes you a check, Chime makes it simple to do Mobile Check Deposit. It takes a couple of days to post to your account, but they do it for free!
- If you need to deposit cash, you're in luck! You can deposit to Chime via the Green Dot network...locations are listed in the Chime app.
- Every now and again, we end up being a few bucks short. Chime is rolling out the "Spot Me" feature, where you can overdraft up to a specific amount and it will be covered by your next scheduled deposit (direct deposit). They ask for an optional tip to help them pay it forward, but it's not a requirement. You should, IMHO, be a good human and pay it forward whenever you are able.
I could keep going for a good while on the awesome service Chime offers, but I think you get my point already. So, why are you waiting? Sign up at Chimebank.com today!
Bottom Line: Yes, I would recommend this to a friend