Chime is a market-leading challenger to traditional banking–but it’s not exactly like banking as we know it.
The financial services provider launched in 2013 as a faster, customer-centric alternative designed to make our lives (and money) simpler and easier to manage. We’re all familiar with regular banking, and it’s normal to ask a few questions before moving over to a new card or accounts–you need to make sure your savings and deposits are safe, after all!
Today, we’ll look at some real-life Chime reviews to analyze whether Chime is a trustworthy option for your banking needs, how Chime can safeguard your cash and accounts, and whether their banking services are as secure as a bank.
What Exactly Is Chime?
Chime’s mobile app works like a personal finance toolbox, with all the functions you need to transfer, bank, spend, and save money through online options.
There aren’t any vague account management fees, overdraft charges, or unpredictable transaction costs–that’s thanks to Chime’s structure as a fintech provider, in contrast to a brick-and-mortar, traditional bank. You can open a Chime checking account, open a spending account, receive a Visa debit card, or save for a rainy day through a Chime savings account, all backed by Bancorp and Stride Bank as trusted Chime partners. The advantage to customers is that Chime will not charge anything to open an account or keep it running; you can also withdraw cash free at over 60,000 ATMs within the network. Chime is a reliable banking option that you can trust.
Is Chime as Safe as a Conventional Bank?
Absolutely–Chime goes beyond traditional banking with a solid support service to help if you’ve made the wrong transfer or need help recovering your funds. Chime is also fully FDIC insured, so you get the same $250,000 protection, per user, per account type as you would with any other bank account.
A verified TrustPilot review from Lauren says that Chime is the “Easiest bank I’ve ever had the pleasure of working with. Getting paid three days early? A bonus.”
How Do Chime Checking Accounts and Chime Savings Accounts Work?
Your Chime Spending Account and optional savings account do work like a regular bank account, but better for your money. There is an early direct deposit option where you can withdraw your paycheck up to two days early, or you can use Chime’s SpotMe plan, which works like a fee-free overdraft account.
Wondering if the Chime debit card is accepted everywhere? You can use your Chime Visa card or your Chime debit card at any retailer and earn up to $500 daily in cash back at the point of sale.
If you have any questions regarding your Chime account, you can always contact Chime customer service for help with your banking needs.
Are Chime Credit Cards Safe?
Chime has a wide range of account types designed to help strengthen your credit score. The Chime Credit Builder includes a secured credit card funded from your other Chime accounts. You can spend as you wish similarly to other credit cards, build up a great credit history, and repair your finances as you go.
Does the Chime credit card really make a difference to your credit score, though?
A Chime credit card or debit card will definitely help. A recent review from Brandie P says, “My credit score has dramatically improved, and that’s something I had honestly given up hope [on]. Thanks, Chime, for being #1 and for putting members like me first.”
Chime will be a great option for you money accounts and banking needs. As the reviews state, Chime has been a great benefit to users by helping them build their credit and providing simple, easy-to-use banking.