Chime Review 2026: Checking and Savings

Upsides:

Strong ATM access and no monthly fee: Chime’s checking account has no monthly fee, no minimum opening deposit and no minimum balance requirement. It also gives users excellent ATM access.

Early direct deposits and no foreign transaction fees: With direct deposit, customers can receive paychecks up two days early. Plus, Chime doesn't charge fees to use your card abroad, though there can be third-party fees. In contrast, some banks charge 1% to 3% of the amount of your purchase. See below for more information from Chime.

Cash deposit available at thousands of locations: Customers can deposit cash at more than 85,000 partner locations including retail stores such as Walgreens, 7-Eleven and Walmart.

Chime is offering a new account sign-up bonus of $350. See our roundup of the best bank promotions to learn more.

Downsides:

Fees for cash deposits and out-of-network ATM usage: Chime charges $2.50 per withdrawal at out-of-network ATMs.

Limits on mobile check services and no physical checkbook: Chime determines if a customer is eligible for mobile check deposit on the app based on account history, direct deposit history and other factors. Chime doesn't offer a physical checkbook, but you can pay bills by sending a check for free through the Chime Checkbook mail-a-check feature on its website or in the app.

No joint accounts: Chime doesn’t offer joint accounts, so it’s not ideal if you’re looking to share an account with someone.

Check out our list of the best checking accounts.

• See more information from Chime

  Chime says: "Early 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."

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

  "Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade."

  "Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status."

Upsides:

No monthly fees and no minimum balance: Chime has no minimum balance requirements to open or maintain the account.

Two automated savings programs: You can have every purchase on your Chime debit card rounded to the nearest dollar and Chime deposits that difference into your savings account. Or, you can have the company automatically transfer a percentage of your paycheck into your savings account. Both features are optional. They can be helpful tools to automate your savings, and not all savings accounts have them.

Downsides:

Checking account required: You need a Chime checking account before you can get the savings account.

Direct deposits required to get high rate. Chime customers with direct deposit can take advantage of a notable savings rate, but for other customers, Chime’s standard rate may not be worthwhile. The savings rate without direct deposits is above the national average, but it’s far below what many online savings accounts offer. See below for details. Many online banks offer significantly higher rates with no requirements.

» See more rates: Check out NerdWallet’s best high-yield savings accounts.

• See more information from Chime

  Chime says: "The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY rate is effective as of 12/17/2025. No minimum balance required. Must have $0.01 in savings to earn interest. The 3.50% Chime+ APY is available only while you maintain eligibility requirements for Chime+, otherwise the 1.00% APY for non-Chime+ members will apply. See Chime+ Terms and Conditions for more details."

  "Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account."

  "You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s)."

What to know about neobanks: These nonbanks can be solid options for consumers who prefer managing money online and are comfortable at a nontraditional place to bank. But neobanks differ from banks in important ways that can pose risks, especially related to deposit insurance.

• • Neobanks are third-party platforms that don’t hold your money.

  Customer funds from Chime and other neobanks are held at partner banks for FDIC insurance. If a partner bank goes bankrupt, neobank customers’ money is protected – as long as the neobank maintains accurate records.

• • If a neobank goes bankrupt, there is no FDIC insurance involved.

  It’s up to the neobank to ensure customers get their money back, which may involve delays and potential loss of account access. Banks, in contrast, receive prompt assistance from the FDIC if they fail. (Learn about what can happen if a neobank closes.)

• • Neobanks often lack some traditional banking services.

  Neobanks tend to offer accounts at low costs and with attractive rates or other features but don’t usually have everything a bank offers. For example, don’t expect in-person customer service, physical checkbooks or certain specialty transactions often for large purchases, such as wire transfers and cashier’s checks.

Chime's high mobile app ratings, solid features: Chime's mobile app excels where it counts — customers have given high ratings to both the iOS version and the Android version. And if your card goes missing, you can block transactions using the Chime app.

Multiple support options: Customer service is available 24/7 by phone. Customers can also get help through the chat option in the app.

Inclusive checking option: Chime doesn’t use screening tools that most banks do to determine whether to reject a person from getting a bank account if they’ve had one closed in the past. So Chime can be a helpful solution if you’re trying to restart your financial life. See below for more information from Chime.

» Had banking issues in the past? Consider more second-chance checking accounts

Penalty for out-of-proportion CFPB complaints: Chime has a disproportionately high number of complaints in the CFPB database relative to the asset sizes of its partner banks, The Bancorp Bank and Stride Bank. Both banks fall well outside of the top-100 largest banks in the country by asset size, meaning the number of complaints that would qualify Chime for a penalty is lower than for financial institutions with significantly more assets.

NerdWallet reduced Chime’s overall star rating by 0.5. NerdWallet looks at CFPB complaints for all institutions it reviews, where data is available, and uses certain calculations to have a way to compare banks and other banking providers of different sizes. See more details about this penalty on our methodology.

History of issues around account closures: In May 2024, the CFPB ordered Chime to pay millions of dollars for failing to refund consumers in a timely manner after their accounts were closed. In July 2021, the nonprofit news organization ProPublica reported that some Chime customers had their accounts closed without notice, leaving them with no way to access their money.

» Shop around: See banks and credit unions that are great for mobile banking

• See more information from Chime

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

No overdraft fees: Like many online financial institutions, Chime doesn’t charge overdraft fees.

Overdraft program for those eligible: Qualifying customers can overdraw up to $20 without penalty (and that buffer can increase to $200, but there are eligibility requirements and restrictions). Through this SpotMe® program, Chime will cover your debit card purchase or cash withdrawal that triggers an overdraft without a fee, and your next deposit or transfer will be applied to the negative balance.

Direct deposits required for overdraft program. You must receive at least one qualifying direct deposit of at least $200 each month into your checking account in order to be eligible for the SpotMe® program.

No traditional overdraft alternatives: But unlike many banks, Chime doesn’t offer overdraft protection transfers or a line of credit, so customers who overdraw outside of the SpotMe® program or past its limits can’t get transactions covered; instead, those transactions will likely be declined. See below for more information from Chime.

• See more information from Chime

  Chime says: "SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Visa® Credit Card.

  Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions: https://www.chime.com/policies."