Chime

Chime is a fintech company that offers fee-friendly checking and savings accounts and a secured credit builder card through partner banks. It is designed for people who want mobile-first banking without monthly maintenance fees or minimum balances.

How it works

Apply through the app or website, connect a direct deposit, and manage spending, savings, and credit building from one mobile app. Direct deposits can arrive up to two days earlier than at many traditional banks, and purchases round up into a savings account on request.

Key features

• No monthly service fees, minimum balance fees, or overdraft fees
• Early direct deposit up to two days ahead of payday
• Automatic savings through round-ups and paycheck transfers
• Credit Builder secured Visa card with no interest or annual fee
• Access to over 50,000 fee-free in-network ATMs
• SpotMe overdraft coverage up to a set limit for eligible members

Who is it for

Chime fits people who want simple, mobile-first banking, workers who rely on direct deposit and want access to their paycheck earlier, and anyone looking to build or rebuild credit with a secured card that does not charge interest.

Reputation

Chime is one of the largest digital banking platforms in the United States, with tens of millions of users. Banking services are provided by The Bancorp Bank, N.A., or Stride Bank, N.A., both FDIC members, and the Credit Builder card reports to all three major credit bureaus.