Chime Checking Account Review 2022: Online Banking

Katie Stiner

Chime is a technology company, not a bank. Banking services and debit card provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. Chime is a financial technology company founded on the premise that basic banking services should be helpful, easy, and free.

Overall rating


Summary: Chime can be a promising option if you have no credit history and looking for online banking with overdraft protection.

Chime Checking

chime logo


Monthly Fee


Est. APY



Account Opening




Deposits & Withdrawals




Customer Service


Safe & Secure


  • No maintenance fees
  • No monthly or minimum balance fees
  • User-friendly app
  • Send paper checks


  • No physical branches
  • Lack of traditional banking services

Best For

  • Easy eligibility
  • Basic financial service needs
  • Receive deposits up to 2 days early with direct deposit3
  • Overdraft fees covered up to $200


HQSan Francisco, California, United States
Monthly Fee$0
Min. To Open$0
Min. Deposit For No Fee$0
Paper Statement FeeN/A
Overdraft Fee$0 (for up to $200)2
ATM FeeFee free for in-network ATMs1
Debit CardVisa
State RestrictionsAvailable in all US States

In depth review on Chime® Checking Account

Many traditional banks offer several types of bank accounts with many different features, which makes it difficult for clients to pick one that fits their needs. Chime simplifies this process by offering one checking account, secured credit card, and savings account along with a highly user-friendly mobile app.

 If you receive a minimum of $200 monthly in direct deposits, you can enroll in Chime’s SpotMe® program.2 This allows you to overdraw your account by up to $20 on debit card transactions with no overdraft fee. This limit can go up to $200 and is decided by Chime based on factors such as your spending activities, incoming direct deposits, etc.

Chime Checking Account is best for

  • Easy eligibility: Chime makes it easier for its clients to open an account with them by making the sign-up process easy and accessible. This could be an excellent option if you are young and looking to build your credit or have bad credit.
  • Basic banking need: Chime is a technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. Chime may not offer all the services a traditional bank would. However, it is an excellent option if you are looking for a financial institution for your basic banking needs.
  • Receive deposits up to 2 days early with direct deposit3: If you receive direct deposits to your Chime Checking Account, you can access the funds as soon as the deposit is made. To be eligible to receive your pay early, you must set up a direct deposit with your employer by providing them with your direct deposit information. This information is available to you in the app.
  • Overdraft up to $200 with no fees2: If you are eligible and decide to enroll for Chime’s SpotMe service, you will not be charged an overdraft fee for overdrawing up to $200.2

Chime Checking Account benefits

  • No maintenance fees: Chime does not charge its members a maintenance fee.
  • User-friendly App: Chime’s mobile app holds excellent reviews and is loved by its users. It provides a well designed and easy to use interface.
  • Send paper checks: If you need to send a paper check, Chime allows you to create one through the app and sends it in the mail on your behalf.

Chime Checking Account drawbacks

  • No physical branches: The lack of physical locations can be an issue for some users if they rely on in-person assistance.
  • No Interest: Chime Checking does not pay any interest, which can be considered a drawback since many competitors in the space offer interest on spending account balances.

Account opening


Chime offers an extremely easy process for creating an account. The application to open a new account can be accessed through their website or the mobile app. To enroll, you will need to provide a Social Security Number, a valid U.S. address, and your birth date. You must also be a U.S. Citizen and at least 18 years old.



Chime offers online banking with no monthly fees. Applying for a Chime account online is completely free. There’s no opening deposit, minimum balance required, and no international transaction fees.

Out-of-network ATM withdrawal fees and cash deposit or other third-party fees may apply.1



Chime checking account works the same way as other checking accounts. The account comes with many features that make it a great candidate for anyone looking for a spending account to conduct day-to-day banking activities. Some of these features include:

  • With SpotMe, you can overdraft up to $2002
  • No maintenance fee
  • User-friendly mobile app and website
  • Get your paycheck up to 2 days early  with direct deposit3

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC. 

Deposits and withdrawals


Chime allows its members to make deposits to their account through direct deposits, transfers from a linked account, paper checks by mobile deposit, or cash deposits via a third-party partner. Cash deposits, however, may not be free and can cost up to $4.95 per deposit at certain partners.4

If you would like to withdraw funds from your account you can use your Chime Visa® Debit Card at a fee-free in-network ATM1 or an out-of-network ATM for a fee. You can also use paper checks to make payments by requesting them in the app. 

Customer service


Chime provides an extensive resource to answer your questions about its services on its website. You also have the option to contact them 24 hours a day, 7 days a week through email, mobile app or via a phone call. 

Safe and secure


Chime takes many precautions to provide a safe and secure platform for its clients to conduct banking activities. Chime prioritizes its client’s information security and uses encryption and firewalls to protect your data and funds.

You can turn on instant transaction alerts to be notified whenever your debit card is used to make any purchases. In the event of any unauthorized activity or losing your card, you can block transactions through the Chime app.

Your account balance is also insured by the FDIC up to $250,000 through The Bancorp Bank or Stride Bank N.A.; Members FDIC. Your debit card is also protected by Visa’s Zero Liability policy to ensure that you get protection against unauthorized charges.

Is Chime Checking Account right for you?

Chime is not a bank and does not offer all the services you could get at a bank such as money market accounts, loans, etc. However, it does a great job of providing simplified financial services to its members.  

If you are a student, early in your career or do not have a great credit score, Chime’s products can be a great option to fulfill your banking needs. By choosing Chime, you can avoid going through the, sometimes tedious, process of opening up a bank account with traditional banks. 

Chime provides a solid banking solution but does have some limitations which can turn off users that require more extensive services. However, for many people looking for an online, easy to use account this can be a great option.

Chime is a financial technology company, not a bank.  Banking services for the Chime Checking Account are provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. The Chime Visa Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. Debit card and Credit card may be used everywhere Visa debit and credit cards are accepted.

1Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

2Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

3Early 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.

4The retailer that receives your cash will be responsible for transferring the funds for deposit into your Chime Checking Account. Cash deposit fees may apply if using a retailer other than Walgreens.