Chime

Chime App Review (2024): Features, Ratings, Pros & Cons

Chime is a name that stands out in the world of financial services. The platform has a reputation for making finances more accessible and scalable. But how reliable is it in reality? Questions such as this one are going to be answered in this Chime App Review.

To start with its popularity, Chime has a great reputation. A SensorTower report states the app was downloaded over 500k last month. Even on app stores like Google Play Store and Apple App Store, the app has over 4 out of 5 stars and a good number of reviews. 

But beyond the glossy surface, how does Chime truly perform? Is the Chime mobile app really that great? We will find answers to these questions in this detailed Chime app review. But before that, let’s dive deeper into the background of the Chime banking app to understand its vision, mission, and expedition.

What is Chime’s Origin Story?

Chime is designed to become your go-to financial assistant. Despite the myth, Chime, however, is not a bank but a financial technology company. Founded in 2013 by Chris Britt and Ryan King, the app is set on a mission to make banking easier, faster, friendlier, and more accessible. The plan was to eliminate the people’s dependency on traditional banks. 

Diving deeper into the Chime banking reviews highlights, its user-first approach, whether in services or the interface, set the app apart from its competitors. To tackle this approach, it has managed to avoid any hidden-fees, keep the navigation simple yet intuitive, and deliver real-time transaction alerts.

In addition to that, Chime has a headquarters in San Francisco, California from where its brilliant teams cater to the requirements of millions of users across the globe. Undoubtedly, these teams have received tons of praise in Chime Bank reviews for their quality of services.

Also Read: Our Exclusive Curation of the Best Budgeting Apps

Features of the Chime Mobile Banking App

Chime is designed to cater to the diverse financial needs of its customers. To understand each feature better, let’s dive deeper and understand their impact on the Chime reviews shared by users.

1. Zero-cost Overdrafts

The Chime online banking app delivers an overdraft facility of up to $200 in debit card purchases and cash withdrawals, that too, at zero Chime fees. The facility is designed to assist users in emergency situations without having to wait for the payday. 

Once you place the request to access Chime overdrafts, the deposit is directly made to your bank account. Facilities such as Chime overdraft enable less stressful banking operations and keep you secure with backup money.

2. Automatic Savings with a Chime Savings Account

The Chime banking app offers two automatic Chime Savings Account options: the Save When You Get Paid feature, which automatically transfers 10% of your direct deposit earnings into your savings account, and the Save When You Spend feature, which rounds up transactions to the nearest dollar and deposits the difference into savings.

3. Get Paid Early

You can download the Chime app to have early access to your salary. The app provides you with your salary up to two days early using the qualifying direct deposit feature. The feature is great for managing bills and taking care of unexpected expenses.

4. Fee-free ATMs

There are over 60,000 ATMs to give you access to your Chime cash. Using the Chime debit card or Chime credit card, you can access the cash fee-free from any ATM location. Many familiar names, such as Walgreens and CVS, support these cards for cash withdrawals. However, if you are accessing the cash from an out-of-network location, it might attract a fee.

5. Pay Anyone, Everyone

Chime doesn’t restrict your payments just because the receiver is not a Chime user. There’s no transfer fee either. So, the Chime app download gives you access to smoother transactions without making it expensive to move money. Additionally, Chime wire transfers are considered one of the fastest ways to transfer money, which is another reason why Chime could be your best finance partner.

6. Comes with a Credit Builder

The Credit Builder card given with the Chime bank app allows users to improve their credit scores by an average of 30 points with regular on-time payments. It's like having a financial gym membership for your credit score – no interest, no annual fees, and no credit check to start.

Also Read: Neo Banking Apps for Smarter Banking

How to Use Chime?

Chime is easy to use. If you have ever used mobile banking apps for Android or iOS, you will easily figure out the process. Though let us take you through each step to help you onboard the app easily. 

Step 1: Download the "Chime app" from one of the major app stores for your smartphone.

Step 2: Open the app and start the signing-up process. Now, create a Chime Account using details such as name, a new password, and social security number. Set up a deposit account or create an existing account from your bank. Post that, a Visa Debit Card will be delivered to you via email.

Step 3: Deposit funds into the Chime mobile banking app to secure your money. You have multiple options for the same. Look for the option “Move Money” at the bottom of the screen. To add money to your Chime Account, "Move your qualifying Direct Deposits", "Transfer from other banks", "Deposit Cash", or use "Mobile Check Deposit" functionality.

Step 4: Log in to the "Chime app account" once you have received your physical debit card. Click on the "Activate" button, and voila! Your Chime Visa Debit Card is now ready to be used.

Step 5: Activate customized alerts for transactions. These alerts can be helpful in tracking your money's real-time balance. To secure your account further, you can also set up a two-factor authentication.

Step 6: Start Accessing Core Chime features:

• Find an ATM Near You for Chime: Simply tap on the "ATM MAP" sign in the lower right corner. This will use your GPS data and open a map showcasing the network of ATMs. You can also filter ATMs that are currently open.

• Get and use the Chime Credit Builder Credit Card: The Chime credit card is designed to help you build your credit score. Once signed up, you will need $200 to be eligible for the credit card. Once you activate it, the physical card will arrive to you in 10-15 business days.

• Get paid early: As discussed in the features above, Chime provides an early payday functionality. The process provides you with a direct deposit to your bank account. Qualifying direct deposits can be availed if your Chime account is set up with this feature.
• Pay anyone securely: Chime is called the best mobile banking app for many reasons. One is its ability to transfer money even to non-Chime users. The “Pay Anyone” feature is at the bottom of the screen. Click on it, and type either Name, $ChimeSign, Email Address, or Receiver’s Phone Number to transfer the money.

Pros and Cons of Chime

Tech Specifications of Chime

Top Chime Alternatives

There are some names in the category of the best fintech apps that have been giving Chime tough competition. For instance, Revolut, Capital One, and Axos. Here’s a comparison of Chime with these names to give you a better idea of the app’s ability.

1. Chime vs Revolut

2. Chime vs Axos Bank

3. Chime vs Capital One

MobileAppDaily Rating

Navigation - 4.8
Security - 4.7
Features - 4.6
UI - 4.7

What do MobileAppDaily Experts Say About Chime?

The thorough analysis of this helped us understand its position among online banking apps. Chime, in a competitive financial market, has managed to maintain a strong hold on the target market due to its extensive range of features. The app is designed to make finances and financial backups more accessible. 

Therefore, the app has the capability to cater to the requirements of all levels of customers. Additionally, we also had a peek into the Chime bank reviews submitted by users. We came across several positive reviews that praised the app’s transparency, trustworthiness, security standards, and transaction speeds. 

We also found a couple of negative reviews pointing to the fact that the app sometimes faces glitches while transferring money to non-Chime users. However, the probability of such incidents is almost nonexistent, given the ratio between positive and negative reviews we observed.

To conclude our opinion based on the Chime banking reviews we came across and other such factors, the app is perfectly designed to cater to the requirements of American users, even if they’re in the USA, or travelling somewhere. 

Chime Reviews Shared by Real Users

6-7-2020 (original review) I Love This App And Company! 6-15-2024 I still love this app/bank 4yrs later. The ability to get paid 2 days earlier than the scheduled payment date is always a great feature! However for the last 2 weeks, I haven't been getting deposit notifications. The app doesn't notify me with a sound or pop up message like it use too. Hopefully there's a update to fix this issue.

- MsKisha, Google Play User

Chime is honestly the best bank account that I've ever had. It's banking without all the complications and long processing wait. The app itself is pretty seamless and straightforward. I do wish some features that are on the web browser could also be seen on the app, like the spending pie chart and the ability to filter my transactions by category. Still amazing though!

- Naomi Kanswen, Google Play User

The app is great but the huge issue; as mentioned in tons of new reviews is that the notifications no longer work. There's nothing for transactions or direct deposit even with the settings set to ON. Hopefully Chime addresses this with more than automated responses. Tried logging in and out multiple times as well as reinstalling the app amd still no luck

- Jesse, Google Play User

I’ve been using Chime for a little over a year now & I absolutely love it! I love the convenience of being able to manage all my accounts from my phone, & the app is very user-friendly & simple to navigate. One of the biggest reasons I’ve heard others say they are reluctant to use Chime is not being able to go into a physical bank location if they have a problem with their account. However, every time I have had questions or issues & used the chat feature, my problems were resolved right away! I also love that there are NO OVERDRAFT FEES & you get a REAL TIME BALANCE!!! The reason I left my previous bank for Chime is because they were very slow to post transactions; so I’d check my balance & think I had enough to to pay a large bill only to find out days later that I did not have enough money & then get hit with a $30 overdraft fee EVERY SINGLE DAY MY ACCOUNT WAS NEGATIVE. With Chime, you can see your pending charges, & they will even spot you up to a certain amount until your next payday if you accidentally overdraw your account! If you do accidentally overdraw & don’t have enough funds available in Spot Me credit, they just decline the transaction instead of hitting you with overdraft fees. All banks need to do that, in my opinion! I highly recommend banking with Chime!

- Kati3K@t, An Apple App Store User

Wrapping Up: Is Chime the Right Choice for You?

After a thorough dive into Chime's features, user experiences, and comparisons with its competitors, it's clear that Chime shines brightly in the crowded world of financial services. With its user-friendly interface, zero-cost overdrafts, and early payday features, Chime positions itself as a tough contender among the best Banking and Finance apps available today.

However, like any app, it has its flaws. Based on App Store reviews, some users have reported issues with notifications. But these issues seem to be few and far between, with the majority praising its seamless and straightforward banking experience. The lack of physical branches might be a drawback for some as well. However, the app's robust digital support and a map to help users locate fee-free ATMs more than makes up for it.

In essence, Chime has successfully carved out a niche by making banking accessible, straightforward, and fee-free for its users. Whether you're looking to avoid traditional banking hassles or seeking a reliable financial partner, Chime stands out as a strong option. So, if you're considering making the switch, Chime might just be the financial companion you've been searching for.

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