Competitors
50
Summary
Ask questionsChime is a financial technology company that provides fee-free banking services, including checking and savings accounts, early direct deposit, and credit-building tools through partner banks. It aims to help users manage their money and avoid common banking fees.
Features5/12
See all5/12
Must Have
3 of 5
Instant P2P Transfers
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Commission-Free Stock Trading
Bitcoin Trading
Other
2 of 7
Fraud Monitoring & Security
Round-Up Savings
High-Yield Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingFree
See allFree
Checking Account
$0.00 one time
- No minimum balance or monthly fees.
- 47,000+ fee-free ATMs.
- Increase your credit scores an average of 30 pts with on-time payments.
Savings Account
$0.00 one time
- 3.75% APY on a high-yield savings account.
Credit Builder
$0.00 one time
- Build credit history with no annual fees or interest.
- Eligibility requirements apply.
MyPay
$0.00 one time
- Get up to $500 of your pay before payday.
- No interest
- No credit check
- No mandatory fees
- To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 – $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
SpotMe
$0.00 one time
- Fee-free overdraft up to $200.
- Eligibility requirements apply.
Rationale
Chime offers a mobile-first banking experience with features directly aligning with the concept of a financial services platform. It provides fee-free checking and savings accounts, a Visa debit card, early access to direct deposits, and peer-to-peer payments. While it doesn't offer stock or bitcoin trading, it covers several 'must-have' features and additional 'other' features like fraud monitoring and high-yield savings.
