Chime Review 2023: Features & Alternatives

Bizreport - Bailey Schramm
Reviewed by Randolph Vialva, MBA
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  • Cost Value
  • Customer Service
  • Ease of Use
  • Included Features

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Chime is an online-only financial services company that offers banking services through partner financial institutions.


  • No monthly fees
  • No overdraft fee
  • 60,000  fee-free ATMs


  • Cash deposits only at third-party retailers
  • Mobile check deposits limited
  • Chime debit card
  • Chime savings account
  • Early paycheck access
  • Founded in 2012
  • Based out of San Francisco, CA
  • Financial technology company
  • Banking partners Bancorp Bank or Stride N.A. Review Review

Chime Review: Checking and Savings

Chime offers checking and savings accounts that are great for anyone looking to maximize their savings rates and interest earned on these accounts. There are countless features you can access with the Chime checking account to help you boost your savings, though you can’t open a savings account with them until you have one of their checking accounts. Overall, they have no minimum balance requirement and offer an annual percentage yield (APY) of 1.50% on all deposits in their savings account. 

What is Chime? How does it work?

Chime is an online-only financial technology company, not a bank, that offers to check and savings account through its banking partners. Their accounts are FDIC-insured, so they’re a safe place to store your money like with any other bank or credit union, even if they’re different from a traditional bank. One of their main savings features is that the app can round up each purchase to the nearest dollar, saving the remainder. However, there are limitations to depositing cash into your accounts and you may pay heavy cash deposit fees.   

Chime Com Advantages

Let’s take a look at some of the main benefits of having a savings or checking account with Chime. 

Overdraft fee-free with SpotMe: Up to $200 on debit card purchases

One of the major draws of Chime is that they don’t charge overdraft fees. All qualifying customers can make overdrafts by up to $20, and later can be eligible to make debit card purchases that would overdraw them by $200 with their SpotMe program. This requires a single qualifying direct deposit of $200 to utilize. 

Get paid early

On qualifying direct deposits, you can get paid up to two days early in your Chime checking account. This can be a great way for customers to access their paychecks without waiting for payday. When customers will have access to direct deposit funds depends on when the payment provider has scheduled the payment to occur. 

Stay in control with alerts

Within the Chime mobile app, customers can enjoy real-time alerts on transactions to help them keep track of their spending and monitor their finances within their Chime account. 

The new way to build credit

With the Chime credit builder card, customers can monitor their credit and improve their ratings with the three major credit bureaus. People with low or no credit can use this card to make everyday purchases to help boost their score with regular, on-time payments with the card.  

Chime Review: Features & Prices

Here are some of the main features and pricing details of banking with Chime. 

Checking Account

The checking account offered by Chime has many great features, including no monthly maintenance fees, SpotMe overdraft protection on up to $200, peer-to-peer payment transfers like to Cash app, and an annual percentage yield (APY) of 1.5% on deposits in their savings account. 

Plus, customers with a Chime checking account don’t pay any foreign transaction fees and can get paid up to two days early ahead of the scheduled payment date on qualifying direct deposits. Customers can open up a Chime Visa debit card from this spending account to use on their everyday purchases.  

Credit Builder

The credit builder-secured account Visa card offered by Chime is a great way for customers to improve their credit. For customers that are constantly worried about what their credit rating looks like, this gives them access to tools to improve their scores for a future credit check. There is no interest or annual fee on this card, and there’s no credit check to apply. Simply transfer money into the corresponding account, and the cash loads will be a credit limit for the card since it’s not based on the customer’s history.  

High Yield Chime Savings Account

The savings account by chime has a great annual yield of 1.5% on all deposits. These accounts are serviced either by Bancorp Bank or Stride Bank, though can be accessed through the Chime app for account management. Plus, there is no minimum balance required. 

Chime Quick Overview

Even though Chime is not a bank, there are many reasons why you would use their services.


4.0 stars

Best Overall Value

  • Credit builder account
  • High-yield savings account
  • No fees

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Chime Customer Reviews

Chime has pretty good reviews with customers on Trustpilot. Let’s take a look at what some of their customers have to say. 

They are shady in their details regarding cases, they do NOT effectively handle scams, and the have left ROOM for fraud. OVERALL HORRIBLE.


I’ve had a lot of mobile banks and chime is by far the best one I ever had.


Chime has been a good bank for me. The service and staff are always polite and helpful in resolving any issues that arise.


Every request I have made has been handled quickly and courteously. Chime has delivered splendidly! I highly recommend it to everyone.


Chime Service Review

Chime Review

Review of Chime

Overall Pricing and Value
Cost Value
Customer Support
Ease of Use
Included Features

Let’s take a final look at whether Chime is a good fit for you. 

Is Chime Right For You?

Chime is an online financial technology company that offers banking services through its two partner banks, Bancorp Bank and Stride Bank N.A. For someone looking for good savings rates, and doesn’t need to make a lot of cash deposits, Chime could be a great fit for you. Both their Chime checking account and savings account come with great features to help you save, and can be easily accessed and managed in the app. 

Cost Value 

Chime doesn’t charge any monthly or overdraft fees, so it’s a great option for anyone looking for a budget-friendly banking solution that still comes with many of the big bank features. Plus, they don’t have a minimum deposit required on their accounts, so it’s very accessible for everyone.  

Customer Service

Chime offers a number of ways for customers to get in contact with them, including 24/7 in the app or via email. Plus they offer phone support as well for anyone having an issue with their bank account or debit card that wants to speak with a representative. 

Ease of Use

Chime is very easy to use, and all the features like accessing direct deposit funds and accessing a qualifying direct deposit up to two days early can all happen within the app. It’s easy to open up accounts online with no minimum balance required and view your bank account balances 24/7. Plus, it’s easy to make a mobile deposit of a check within the app, and you can set up your accounts to pay bills, save an automatic percentage of each direct deposit, and more. 

Included Features

There are many great features when banking with Chime. On their checking account, customers can gain early access to direct deposit funds up to two days early on a qualifying direct deposit. Plus, there are no monthly fees, up to $200 in SpotMe protection on overdrafts, and access to the credit builder Visa card. Chime’s savings account earns a high annual percentage yield, and there are countless other amazing features on the app to help you manage your finances. 


Like other online banks, Chime offers great digital banking services through its partner banks. With Chime credit builder, customers with low or no credit can help boost their score through regular on-time payments, access direct deposits up to two days early, and enjoy a high-interest rate on their savings. 

2 Top Chime Alternatives

Axos BankAlly
Checking Accountcheckiconcheckiconcheckicon
Savings Accountcheckiconcheckiconcheckicon
Money Market AccountcheckiconcheckiconNot included
Debit Cardcheckiconcheckiconcheckicon
Credit CardNot includedNot includedcheckicon
DetailRead Review Read Review Read Review

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Axos Bank:  

Axos is an online bank that is fully digital. They don’t have digital branches, though they are one of the best and offer services both to consumers and businesses. They offer great services and an easy-to-navigate platform, though there are better APY offers with other banks. 

Ally Bank:  

Ally Bank offers online-only services, offering accounts with high-interest rates and low fees. They are known for their great customer service and are a good choice for banking customers who don’t need access to a physical branch. 


All in all, Chime is a good option for an online bank for consumers who don’t need branch banking services. They offer good ways to save and a great way to build credit for those who need it. 

Frequently Asked Questions (FAQs)

How is Stride Bank, N.A. related to Chime?

Chime uses two different banks to deliver their banking services, so customers may notice either Bancorp Bank or Stride Bank N.A. listed on their account details and direct deposits.

Does Chime offer a checkbook?

While they don’t offer customers checkbooks, you can send anyone Chime checkbook transactions at any time, initiated in the app. 

Does Chime send a monthly statement?

You can view a member’s Chime account history for each month online.

Can you send bank ACH transfers from your Chime spending account?

Yes, you can send a transfer via Automated Clearing House from your Chime account.

Does Chime offer money market accounts?

No, it doesn’t offer a money market account, just a high-yield savings account.



Bizreport - Bailey Schramm
Bailey Schramm, BS
Finance Advisor
Bailey Schramm is a writer based out of Jackson Hole, WY, primarily covering topics and trends in financial services, business, and the blockchain. With a background covering stock market developments for a major FinTech company, she now provides SEO and content strategy services to financial service companies and tech startups.


He is an organized and creative thinking sales management professional with experience in outside and inside sales in various markets. Working as freelancer in the Greater Boston Market, he moved to St. Louis and became an Account Executive, then a Sales Manager managing and coaching 12 sales reps covering a nationwide territory. He has developed his team with a combination of consultative selling and value before price coaching mindset which has won him a President’s Cup and many other financially rewarding awards at RICOH. His most recent role as a Continuous Improvement Manager provided insight into the importance of delivering a quality product in alignment with the value and reputation of his organization. It further enhances the aspect of selling on value as opposed to price.

+ 1 sources

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  1. Chime is rated “Average” with 3.3 / 5 on Trustpilot. Trustpilot. Published October 22, 2022. Accessed October 25, 2022.