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Mobile bank Chime goes dark for millions of customers as it seeks $5 billion valuation
Chime, the leading branchless bank in the U.S., is in the midst of a service outage that has left millions of customers without access to their accounts.
Issues cropped up Wednesday, leaving users stranded at restaurants, parking garages and gas stations, unable to use their debit cards or pay their bills, according to interviews and complaints posted to the bank's Twitter account.
Card transactions and ATM https www capitalone com activate have since been restored, and employer deposits are posting, Chime said Thursday in a statement. But the main touchpoint for Chime's 5 million users – its mobile app and website – is still down after more than 24 hours.
"I completely acknowledge the fact that we feel like we let" users down, Chime CEO Chris Britt said in a telephone interview. "One of our core values is being member obsessed. Our customers love being connected, they want to know what their balances are in real time. And when people don't have access to the app, we understand how incredibly frustrating that is."
The outage, reportedly Chime's third since July, comes at a sensitive time for the San Francisco start-up.
Chime has been experiencing torrid growth lately, going from 1 million users in mid-2018 to more than 5 million this year. That has put the firm in the vanguard of an industry that is beginning to take off in the U.S. after the rise of so-called challenger banks in the U.K. and Europe. Chime was in the process of raising new funding from investors at a valuation of at least $5 billion, Axios reported earlier this month.
Taking advantage of frustration among customers of big banks, it has lured users with the promise of zero fees, a two-day advance on paychecks and a seamless experience.
But the thesis of Chime and other startups has been that physical branches were an unnecessary relic of the days when banks gave free toasters with new checking accounts. Now, customers are beginning to question whether that thesis rings true anymore.
"I can't access anything; if I wanted to transfer money out of my savings account, how am I supposed to do chime contact customer service said Bruce Banko, who works in customer support in St. Petersburg, Florida. "I tried calling them but I couldn't get through."
Banko sent this screenshot of his Chime mobile app:
It's unclear if the outage will impact Chime's valuation, and Britt declined to comment on anything to do with his bank's fundraising effort.
The outage was caused by an issue with the database of payment processor Galileo, according to people with knowledge of the matter. The Salt Lake City, Utah-based software company said it began experiencing an "operational incident" on Tuesday aﬀecting its ability to "support transactions for a small number of our clients and their customers."
"We are actively working to restore full mobile application functionality, which is currently unavailable or slow to respond," Galileo said in a statement. "We are committed to actively resolving the situation and returning to normal operations as quickly as possible."
Galileo announced a $77 million funding round on Thursday, led by Accel. The company connects banks to credit card processors through APIs, and counts Robinhood, Monzo, Revolut, Varo and TransferWise as customers.
While Galileo serves a constellation of fintech firms, it appears that Chime has been impacted the most. That calls into question the robustness of the firm's technology stack, or perhaps its reliance on vendors.
Galileo customer Revolut said that "no services were affected". Varo, another client, said it "experienced a minor disruption in processing" but that these issues are now mostly resolved. Monzo and Transferwise did not immediately respond to CNBC's request for comment.
Many challenger banks lean on third parties to connect to a payment network. It reduces the complexity of integrating directly with a company like Visa or Mastercard. But that can come with issues around downtime and outages.
"If this third party goes down, then to the user of the app, in this case Chime, the card no longer works," said Simon Taylor, head of venture at fintech consulting group 11FS. "As companies like Chime hit scale we're likely to see these outages become more common."
Service outages were especially common two years ago in the U.K., where challenger banks like Monzo and Revolut gained popularity after the financial crisis. Those outages eventually caused fintech companies to take their payment processing in house, according to Taylor.
Chime and many of its digital banking peers partner with FDIC-insured banks instead of chime contact customer service a banking license themselves. It's a popular set up for fintech chime contact customer service The banks handle the federally regulated side while start-ups focus on their users' experience. Chime works with Bancorp Bank, and earns revenue from debit card transaction fees paid by merchants.
'We feel horrible'
Digital-first "challenger banks" like Chime are the fastest-growing group among financial technology startups. In the second quarter alone, the cohort raised $649 million across 17 venture capital deals, according to the data firm. Funding for Chime and other start-up banks like Monzo and Revolut has eclipsed last year's record of $2.3 billion.
Britt, Chime's CEO, declined to say when his service would be back up.
"We're still working towards bringing full functionality on the app," he said. "We don't take any of this lightly. We feel horrible about the experience our members had."
"My cell phone bill was supposed to deduct from my Chime account yesterday," Rion Barnes, a contract lawyer living outside Atlanta, Georgia, told CNBC. "I got a notice from my cell phone provider that I need to pay it, otherwise they'll shut down my account."
Barnes, who also has a SunTrust account, said that even after Chime restores its service, she has soured on the bank.
"I'm taking my money out," she said, "and putting it back into in my other account."
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Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank N.A.; Members FDIC
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The BasicsGetting StartedSecurity
What is Chime's mission?
Our mission is to make financial peace of mind a reality for everyone. We’re doing that by changing the way people feel about banking. Chime’s business was built on the principle of protecting our members and making managing your money easy. We’ll never profit from your misfortune or mistakes food bank price utah everything we build is focused on improving our member’s lives.
How does Chime make money?
Chime makes money from the interchange fee charged on card transactions. Every time you use your Chime Visa® Debit Card or Credit Builder Secured Credit Card for purchases and paying bills, Visa processes the transaction and charges an interchange fee to merchants for the service. Chime receives aportion of this fee. Activate cash card app is how Chime can continue building new and better products that help members get the most from their money.
Who can use Chime?
U.S. Citizens 18 years and older are welcome to apply! While Chime cards work all over the world, currently we can only offer accounts to members with a valid SSN, living in the United States and Sig p320 owb holster of Columbia.
Does Chime charge any fees?
We don’t believe in unnecessary fees or profiting from our members’ misfortune. We have no fees to sign up, no overdraft, no monthly or service fees, no minimum balance fees, no transaction fees, and no card replacement fees either. We do charge one fee ($2.50) when you get cash from either an over the counter withdrawal, or an out-of-network ATM that is not part of Chime’s fee-free network of 60,000+ ATMs
Please note that third-party services, such as money transfer services used to deposit funds or out of network ATM used to withdraw funds to your Chime Spending Account may impose their own fees per transaction.
Does Chime have Fee-Free Overdrafts?
Yes! Chime’s SpotMe feature lets you make debit card purchases and cash withdrawals that overdraw your account with no overdraft fees.3 Limits start at $20 and can be increased up to $200. We’ll spot you when you need that little extra cushion to cover an expense. Learn more here!
What type of cards does Chime offer?
When you open a Chime Spending Account you get a Chime Debit Card that can be used at any merchant that accepts Visa. Your Chime Debit Card can also be used with mobile-payment providers such as Apple PayTM, Google PayTM or Samsung PayTM. Other features our members love about our Chime Visa Debit Card are instant transaction notifications anytime your card is swiped, the ability to instantly block your card and order a replacement Debit Card all from within the Chime mobile app.
The Chime Credit Builder Visa® Credit Card is our no fee, no interest, secured credit card that helps you build your credit. Unlike traditional credit cards, Credit Builder helps you build credit with no fees and no interest. There’s also no credit check to apply. The money you move into Credit Builder’s secured account is the amount you can spend on the card. Unlike other secured credit cards, that money can be used to pay off your monthly balances. Since Credit Builder doesn’t have a pre-set limit, spending up to the amount you added won’t contribute to a high-utilization record on your credit history. Learn more about how Credit Builder works.
When do I receive my Chime Visa Debit Card after I open a Chime Spending Account?
After you open a Spending Account, we get started on personalizing your new Chime Visa Debit Card. Your Chime Visa Debit Card is usually placed in the mail within one (1) business day after you open your Spending Account. It can take 5 to 10 business days for your Chime Visa Debit Card to arrive at your home address.
If you don’t have your Chime Visa Debit Card within 10 business days after opening your Spending Account, please contact our Member Services team at: [email protected]
Is Chime a real bank?
Chime is not a bank. Chime is a financial technology company that offers banking services provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.Chime members can have a Spending Account with an optional Savings Account, and can grow their credit history by applying for a secured Chime Credit Builder Visa® Credit Card – all while enjoying the benefits of online banking and mobile banking. Eligibility requirements apply for Credit Builder card.
Is Chime a real bank or prepaid card?
Chime is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Chime is also not a prepaid card. Through its bank partners, Chime offers a full-service spending account with a Chime Visa® Debit Card for spending and using at 60,000+ fee-free in-network ATMs. Out of Network ATM fees apply. See Chime.com for more details.
How do I add money to my Chime Spending Account?
Direct deposit is the easiest way to add funds to your account. Enrolling in direct deposit with Chime has an added benefit too: you are automatically eligible to receive your paycheck up to 2 days early!¹
We also support mobile check deposit and electronic transfers from other institutions by linking an external bank account and in the Chime mobile app.
Can I send money to family/friends?
You can use our Pay Friends feature to send money to Chime members instantly, and free! To use the Pay Friends feature, simply log into your Chime mobile app and select the ‘Move Money’ tab, then select ‘Pay Friends’. You will then be prompted to enter in either the receiver’s name, phone number or email, or you can select them from your contacts.
What is Chime's ATM Network?
We have a network of 60,000+ fee-free in-network ATMs for Chime members. Get fee-free transactions at any Moneypass ATM in a 7-Eleven location and at any Allpoint or Visa Plus Alliance ATM. To find a fee-free ATM near you, download the Chime mobile app and tap on ATM map. You can also search our ATM network.
Can I send paper checks?
Although fewer checks are being written these days, we understand that some bills like rent, credit cards, student loans, and other payments sometimes require you to pay with a check.
To assist our members in these situations, we offer the Chime Checkbook feature!
Can I deposit paper checks with Mobile Check Deposit?
Chime will determine if you are eligible for the Mobile Check Deposit feature based on the history of any Chime-branded accounts you have, direct deposit history, and direct deposit amounts and other risk-based factors.
For example, Chime currently offers mobile check deposit to members who receive a qualifying direct deposit of $1.00 or more. Mobile check depositing will be automatically enabled in your Chime app within a few days of receiving the deposit. You may receive access to Mobile Check Deposit based on other risk-based factors.
How do I pay bills using my Chime Spending Chime contact customer service can set up direct debit payments with billers who offer this option by providing your account and routing number to the merchant.
Direct debits are immediately removed from your Spending Account when requested by a biller and do not place any hold on your funds. If your balance is not sufficient to cover the payment, it will be declined. There are no limits or fees associated with direct debits.
How do I invite friends to join Chime?
We currently offer a referral bonus every time you refer someone new to Chime using your referral link, and they receive a single qualifying direct deposit of $200 or more!* Your friend must enroll and receive a single qualifying direct deposit of $200.00 or more within 45 days of opening their new account. The direct deposit can come from their employer, payroll provider, or benefits payer via Automated Clearing House (ACH). If the terms are complete, both you and your friend will get $100 each! You can find the link for inviting everyone you know in your Chime app.
You can also copy-and-paste your invite link and share it on Facebook, Instagram, or Twitter.
Occasionally, we’ll offer different incentives to invite your friends to join Chime. We’ll notify you through email or in the Chime mobile app when a referral offer is available.
Chime Customer Service
Our Member Services team is always happy to help! You can reach us 24/7 via the customer support tab in the Chime app, or by email at [email protected]
Our phone specialists are available through our customer service number at 844-244-6363. Our hours of operations are:
• Monday-Sunday: 3am-11pm CST
What is your security policy?
Our top priority is protecting our members. We use 128-bit AES encryption, access control, and security processes to ensure your money is always safe with Chime. If you notice an unauthorized transaction, you can disable transactions on your Chime card immediately in the settings section of the Chime app and website to prevent further unauthorized card transactions.
Are my deposits insured by the FDIC?
Chime bank accounts are insured up to the standard maximum deposit insurance amount of $250,000 through our partners, The Bancorp Bank or Stride Bank, N.A., Members FDIC.
Can you use your Chime Visa Debit Card in other countries?
You can use your Chime Debit Card anywhere Visa cards are accepted, including outside the U.S. and with no foreign transaction fees! International transactions can be enabled or disabled in the settings menu found in the Chime mobile banking app.
What do I do if I don't recognize a transaction in my Spending or Savings Account?
If you do not recognize a transaction in your Spending or Savings Account,we ask that you temporarily block your card:
- Use the Chime mobile app or by log in to your account at www.chime.com.
- Go to Settings and turn off Chime Card Transactions.
This feature immediately prevents new purchases and ATM transactions on your Chime Visa Debit Card account.
- Contact us immediately in one of several ways:
- Call us at 1-844-244-6363
- Use the Chime mobile app to contact our support team
- Email [email protected]
What type of account is my Chime account?
Chime is a full-featured deposit account. Your account can receive direct deposits and it supports pre-authorized withdrawals and interbank transfers through the Automated Clearing House (ACH) Network.
Chime gives you:
- A Chime Visa® Debit Card
- An FDIC-insured deposit account that can be managed entirely from your smartphone
- An optional Savings Account that helps you save money without thinking about it
Chime bank accounts are insured up to the standard maximum deposit insurance amount of $250,000 through our partners, The Bancorp Bank or Stride Bank, N.A., Members FDIC.
Where can I find more information on your policies?
You can check out our privacy practices, Account Agreement, and all the legal information pertaining to your account here: Privacy Policies
Banking services 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. and may be used everywhere Visa debit cards are accepted. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank.
While Chime doesn’t issue mexico central america and the caribbean map checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.
By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties' privacy or security practices.
1 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.
2 Out-of-network ATM withdrawal fees apply except at MoneyPass ATMs in a 7-Eleven location or any Allpoint or Visa Plus Alliance ATM. Other fees such as third-party and cash deposit fees may apply.
3 Chime contact customer service SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Spending 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 share price of first bank nigeria plc 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 Friends transfers, or Chime Checkbook transactions. See Terms and Conditions.
4 Cash deposits to a Chime Spending Account are funds transfers made by third parties (who may impose their own fees or limits) and are FDIC-insured up to applicable limits once received by the bank holding the account.
* Referral Bonus: In order for the referring Chime member (“Referrer”) to qualify and receive the $100.00 monetary referral reward and $10.00 temporary SpotMe Base Limit increase referral reward, and for the referred person (“Referred”) to qualify and receive the $100.00 monetary referral reward, all of the following conditions must be satisfied: (1) Referrer is part of the SpotMe Referral Incentive referral reward campaign; (2) Referred has not previously opened a Chime Spending Account (“Account”); (3) Referred opened the new Account using the Referrer’s unique referral link; and (4) Referred received in the new Account a qualifying direct deposit of $200.00 or more within 45 calendar days of opening. The qualifying direct deposit must be made by the referred individual’s employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit. Bank ACH transfers, Pay Friends transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, and cash loads or deposits are not qualifying direct deposits. Members may earn no more than $50.00 in SpotMe Base Limit referral increase and may earn no more than $1,000.00 in monetary referral rewards per calendar year (January 1, 2021 - December 31, 2021 and January 1, 2022 – December 31, 2022). No member’s SpotMe limit may exceed $200. Any Referrer SpotMe Base limit increase referral reward will expire 184 calendar days from the Referred receiving a qualifying direct deposit. If an eligible Referrer loses Base Limit eligibility, and the Referred completes the above conditions, the Referrer will receive the $10 temporary SpotMe limit increase referral reward only upon regaining Base Limit eligibility. If conditions (1) – (3) listed above are met between August 17, 2021 and September 17, 2021, both the Referrer and the Referred will each receive a $5 monetary referral reward; limit $100 per calendar year for the Referrer. The Referrer may refer no more than twenty (20) persons using their unique referral link. In the event the Referrer refers additional persons in excess of 20 persons, neither the Referrer or the Referred will earn the $5 monetary referral reward. Referral rewards will generally be provided within two (2) business days after all the above conditions are met. Referred individuals acknowledge that payment of any referral reward may result in the Referrer’s knowledge of the Referred’s establishment of a new Account. Chime reserves the right to cancel or modify the terms of any referral reward offer or terminate a member's eligibility at any time with or without prior notice. Credits of $10 or more will be reported on tax form 1099-INT for new members (Referred). Credits of $600 or more will be reported on tax form 1099-MISC for referring Chime members (Referrers). Banking services are provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC.
© 2013-2021 Chime. All Rights Reserved.
Chime provides fee-free online banking services through a well-received mobile app.
Money expert Clark Howard likes online-only banks because they don’t have many fees and carry low (or zero) minimum balance requirements.
Chime offers a number of rich features, a competitive interest rate and a spending account with direct deposit, a debit card and a free ATM network.
Table of Contents
Chime Review: Quick Look
|Company Type||Financial software company (banking services)|
|Key Features||Competitive interest rate, automated savings, early access to direct deposits|
|Downsides||Lacks branches, joint accounts and loans|
|Best For||Anyone OK with banking online, especially the unbanked and those with negative banking history|
What Is Chime?
Founded in 2013, San Francisco-based Chime considers itself a financial services software company, but for all practical purposes, it’s a fee-free online bank. Technically, it doesn’t have a bank charter. Instead, it partners with Bancorp Bank and Stride Bank, which are FDIC members.
Chime made its public debut on the Dr. Phil show in 2014. The company has raised about $1.5 billion and was valued at $14.5 billion in its Series F round in September 2020.
“Nobody wants to go into bank branches, nobody wants to touch cash anymore, and people are increasingly comfortable living their lives through their phones,” Chime CEO Chris Britt told CNBC at the time.
That type of success has attracted scrutiny from regulators. At the behest of the California Department of Financial Protection and Innovation, Chime community banks of colorado parker co to stop using the term “bank” in its marketing in May 2021.
Chime Spending Account
A Chime Spending Account is the company’s equivalent of a checking account, although you won’t be getting a checkbook.
Account holders get a Visa debit card and access to online banking services through Chime’s mobile app.
A Chime Spending Account is an FDIC-insured deposit account. It can receive direct deposits. It supports pre-authorized withdrawals and ACH transfers. Chime also offers free transactions and free person-to-person transfers. It’s compatible with Apple Pay, Google Pay and Samsung Pay.
Customers can withdraw money from Chime via the MoneyPass and Visa Plus Alliance ATM networks (38,000+ ATMs).
Chime allows customers to make deposits via:
- Direct deposit
- Transfer from a linked bank account
- Mobile deposit of a paper check
- Cash deposit through third party services (which is not free; more on that later)
The online bank challenger doesn’t offer loans or products such as Certificates of Deposit and money market accounts. It makes most of its revenue when its customers use its debit or credit cards.
Chime is online-only, so it doesn’t feature brick-and-mortar locations. Free from the overhead expenses of operating physical branches, Chime passes along those cost savings to customers. It doesn’t charge monthly or overdraft fees and also doesn’t require a minimum deposit.
Clark is a huge fan of the online banking model: He thinks many people overestimate their need for physical bank locations.
Chime Savings Account
You must open a Chime Spending Account before you can open a Chime Savings Account.
As of May 2021, the savings account pays 0.50% APY, which is extremely competitive. In fact, I included Chime in my list of the six best high-yield online savings accounts.
Clark advocates for automated savings, which aligns well with Chime. The online challenger of traditional banks offers several cool features that encourage automated savings.
Chime’s Notable Features
Chime is a financial software company, so it makes sense that it’s feature intensive relative to banking services. Here are the notable features Chime offers.
SpotMe: In most cases, if you try to charge an amount that exceeds your account balance, Chime will simply decline the charge. That’s in line with Clark’s philosophy on overdraft protection. However, if you do manage to get a negative balance, the SpotMe feature allows you to avoid overdraft fees by offering protection up to $200. You must make at least $500 in monthly direct deposits to qualify. Chime will reimburse itself when you make your next direct deposit.
Early Access to Direct Deposits: Fill out some paperwork and you can get your direct deposit pay up to 48 hours early via your Chime Spending Account.
Save When I Get Paid: This feature automatically slides 10% of any direct deposit of at least $500 straight into your Chime Savings Account.
Savings Round-Ups: This automatically rounds up your debit card purchases to the nearest dollar and deposits the change into your savings account.
Chime Checkbook: Chime will create and mail you already filled out paper checks at no charge. The money gets pulled from your account when Chime drafts the check. Your limits are $5,000 per payment and $10,000 per month.
Credit Builder: Chime’s credit card is designed to help consumers build their credit. For example, your “credit limit” is based on the amount of money you transfer from your spending account to your credit builder account. You can charge only up to that amount, ensuring you’re always paying off your credit balance each month.
Visa Zero Liability: Chime issues Visa debit cards. Visa’s policy ensures cardholders aren’t responsible for unauthorized charges. You can instantly block transactions on your Chime debit card from the app.
Chime Review: Where It Shines
Here are some of the biggest benefits Chime offers:
- No fees. Clark says he hates that big traditional banks “fee you to death.” Chime is at the opposite end of the spectrum, getting rid of most traditional fees.
- Strong interest rate on savings. Chime’s savings account pays 0.50% APY.
- Large free ATM network. Withdraw money via your debit card for free from 38,000+ ATMs.
- Well-reviewed app. The Chime app, rated 4.6 on Android and 4.8 on iOS, is the highest-rated banking app I came across after researching more than 60 companies. In addition to being well-designed, it will let you set up direct deposit inside the app, show you where the closest ATMs are, provide your daily balance and give you transaction notifications.
- Easy to qualify and sign up. Have you gotten rejected by a traditional bank because of a negative banking history? You probably can get an account with Chime. Are you unbanked and want fast, easy access straight from your phone? Chime fits that description. Do you just want as little friction as possible? Again, Chime is a match.
Chime Review: Where It Falls Short
Here are some of Chime’s biggest downsides:
- No physical locations. Clark thinks that physical banks aren’t necessary for most people. Of course, you’ll have to decide what’s best for you based on your own circumstances and preferences.
- No joint accounts. If you want to open an account with a significant other, for example, you’re out of luck (for now) with Chime.
- No loans, CDs or money markets. Chime makes its money through kickbacks from Visa when customers use its debit and credit cards. It does not offer these traditional banking products.
- Fees for using out-of-network ATMs. You’ll pay $2.50 per transaction if you withdraw from an ATM outside of Chime’s free network.
- Expensive to deposit cash. Online-only banks aren’t designed for people who regularly deposit cash. But Chime’s website says you can do so through its “cash deposit partners” at retail locations. The website doesn’t say how much that will cost you. It does say those services “may impose their own fees.” In the past, Chime has partnered with Green Dot; its cash deposits can cost up to $4.95 each.
Who Should Use Chime for Banking
What demographic does Chime appeal to most? That’s a tricky question. Chime definitely caters toward digital natives who have never had a traditional bank account or people who have negative banking histories.
But it’s a great option for anyone open to banking through an online-only company.
You’d do well to consider Chime if you:
- Are comfortable with mobile banking and don’t need access to a physical branch.
- Want access to a company that charges you fewer fees for banking services and pays you more interest than a traditional bank.
- Don’t need to make regular cash deposits.
- Don’t currently have a bank or have a negative banking history.
- Can make at least $500 per month in direct deposits to your Chime account.
To the last point, most traditional banks use their own equivalent of a credit score, called ChexSystems, to decide whether to let you open an account. If you’ve had trouble opening a traditional bank account due to past issues, Chime — a “second chance bank” — could work for you.
Recently, there have been several reports in the media and in places where people congregate online that Chime has been abruptly closing customer accounts. Possibly as a fraud prevention measure.
Some affected account holders have reported difficulty contacting Chime’s customer service and have been unable to access their funds for at least a period of time.
Keep reading to learn about alternatives to Chime.
Online Banking: Alternative Options
Are you interested in an online bank, but Chime just doesn’t seem like the best fit for you?
I wrote about the best online banks for Clark.com. Among my favorite choices is Ally Bank, which is similar to Chime in terms of its features, competitive interest rate and well-designed app. And unlike Chime, Ally supports joint accounts.
Another one of my favorites is Capital One, which I’ve described as the ultimate jack-of-all-trades of online banks. Capital One’s banking option doesn’t necessarily market itself around a singular feature, but it’s extremely difficult to find a weakness.
If you want a joint account, physical branches or need a loan, Chime won’t meet your needs.
But if you’re unbanked, aren’t able to open an account with a traditional bank or simply want to bank with a no-fee, mobile-optimized online company, Chime is one of the best choices you’ll find.
Note: Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Chime FAQs.
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Contact Chime Bank Customer Service
Chime Bank Phone Numbers and Emails
Chime Bank Emails:
Chime Bank Contact Information
Corporate Office Address:
Chime Financial, Inc.
PO Box 417
Other Info (opening hours):
Monday - Friday: 6 am - 10 pm (CST)
Saturday chime contact customer service Sunday: 7 am - 9 pm (CST)
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Chime Bank Rating Based on 489 Reviews
Product or Service Quality
Product or Service Quality
Diversity of Products or Services
Discounts and Special Offers
All 1.4K Chime Bank reviews
Summary of Chime Bank Customer Service Calls
04:22 AVG CALL
Top Reasons of Customers Calls
Consumers Call the Most From
Why Do People Call Chime Bank Customer Service?
- “Chime account” chime contact customer service
- “Account balance”
- “Someone hacked my account”
- “Fraudulent activity on my card”
- chime contact customer service “Someone stole my card”
- “Lost card”
Payments and Charges Question:
- chime contact customer service “Unauthorized transaction”
- “My son is trying to send money to a debit card and it isn't letting him” chime contact customer service “I am having a problem with a transaction”
Request for Information Question:
- “Need to talk to some body about my account”
- “I need help setting up my Chime app”
- how to get disney plus through verizon business account best thai food in lubbock “I check my mail my card not here”
Activation/ Cancellation Question:
- “Cancel a dispute”
- “Activate card”
- “Trying too activate”
Shipping and Delivery Question:
- “Have not received my card in the mailbox”
- pay your discover bill online “Never received debit card”
- “Did not get referral credit”
Product/ Service Question:
- “Have to withdraw money”
- “Try toget loan”
- “Daily withdrawals”
- “Refund money”
- “Refunding my account”
Return/ Replace Question:
- “My money was not returned to my account”
- chime contact customer service “Replacement card”
- how do i find uscis online account number “I returned a purchase yesterday and it's not back to my card yet”
- “Customer service number not working”
- “Speak the customer service” how much percent is obese in america
- “Customer service”
Website/ Application Question:
- “Cause the web site told me yo when i tryed to log in from my computer”
- chime contact customer service “A chime customer stole my check depisited by phone deposit”
- “Why was my application denied” is there a check deposit limit at atm
- “Change my phone number”
- “I am calling so so I can update my address”
- “I need to make some changes”
When The User of company services are no longer Company's customer, www.chimebank.com continue betrayal at house on the hill reddit share The Client's information, as described in this notice. However, The Client of Chime Bank can contact Website at any time to limit Chime Bank's' sharing. Chime Bank also collect The Client's personal information from others, such as credit bureaus, affiliates, or other companies. State laws and individual companies may give The Client additional rights to limit sharing. See below for more on The Customer's rights under state law. Companies related by common ownership or control. They can be financial and nonfinancial companies. Chime Bank's' affiliates include financial companies such as The Bancorp Bank, Bancorp Card Services, Inc., and TBBK Direct Leasing, LLC. Companies not related by common ownership or control. Nonaffiliates Chime Bank share with can include online payment companies, direct marketing companies and prepaid card providers.
To read more: https://www.chimebank.com/privacy-policy/
To read more: https://www.chimebank.com/faq/
Customer Care, Money Transfer, Claim
Account, Deposit, Direct Deposit
Pros: Get paid early, Check comes before pay date, Great banking, No fees, Nun
Cons: Customer service, Lack of accountability, Very bad, No rep too talk too, No physical bank
Chime Bank is ranked 59 out of 778 in Banks category
USA, Other, Asia, Worldwide
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