Online-only banks, which have become more popular in recent years, are known for offering deposit accounts without minimum balance requirements or monthly fees — and Chime is no exception. Founded in 2012, Chime is a financial technology (fintech) company offering two deposit products through partnerships with two FDIC-insured banks.


As an online financial company that provides mobile banking services, Chime doesn’t have any physical branches. As such, Chime is best for customers who are comfortable solely banking online. Chime has just two deposit accounts to choose from — a savings and a checking account — so it won’t appeal to customers who are looking to consolidate their finances under one roof. However, both accounts are free to open and come without pesky fees.


  • Customer service is available 24/7 over the phone or live chat.
  • There’s no minimum balance requirement to open a checking or savings account.
  • Customers have access to more than 60,000 fee-free ATMs across the country.
  • Chime’s mobile app, available on iOS and Android devices, is highly rated.


  • Chime doesn’t have any branches; all banking must be done online.
  • Chime doesn’t offer a money market account or certificates of deposit.

Chime Checking

There’s no minimum balance requirement to open a checking account at Chime, and there isn’t a monthly fee, either. The account comes with a Visa debit card and 24/7 mobile banking through Chime’s highly-rated mobile app available for iOS and Android. The account also features early direct deposit, so customers can get their paychecks up to two days earlier. They’ll also have access to their cash via 60,000 fee-free ATMs across the U.S.

Chime’s overdraft service, called SpotMe, will cover overdrawn transactions on debit card purchases. To qualify, customers must receive $200 or more in qualifying direct deposits over the last 34 days. Initially, Chime will only cover overdrafts up to $20, but that limit can go up to $200 depending on your account activity and history. If you overdraw more than your limit, or if you don’t have SpotMe at all, Chime will simply decline the transaction, but you won’t be charged a fee.


  • There’s no minimum balance requirement or monthly maintenance fees.
  • Customers have access to over 60,000 fee-free ATMs across the country and can deposit cash at any Walgreens.
  • There are no overdraft fees.
  • Deposit accounts are FDIC-insured through Chime’s banking partners.


  • Chime’s overdraft service initially only covers up to $20 in overdrawn transactions.
  • There’s a $2.50 fee for using an out-of-network ATM.

About Chime

Chime’s services are provided by The Bancorp Bank and Stride Bank. Both banks are FDIC-insured up to the limit allowed by law: $250,000 per depositor, per account type. In addition to two deposit accounts, Chime offers a credit card through its Credit Builder card, which can be used everywhere Visa credit cards are accepted.

Chime offers customer service through live chat, phone and email. Assistance over the phone and live chat is available 24/7. The live chat feature is available through Chime’s highly-rated mobile app.