Chime Review: Honest Chime Bank (2024)

Chime Review: Honest Chime Bank (2024)

Chime Bank Review
  • Ease of Use
  • Features
  • Stability
  • Security
  • Support


Chime Bank is a NEO Bank that gives you everything you’d need in a bank, including some incredible and unique features enabling you to save money autonomously and without worry.

Honest Chime Bank Review | Overview

Welcome to this Chime Review, were I will answer any and all questions you might have relating to Chime bank

Late in 2013, two entrepreneurs Chris Britt (CEO) and Ryan King (CTO) came together and founded Chime. Chime is part of a wave called NEO banks, which are basically bank, which are setup completely online.

Chime Bank Review
The Founder of Chime, Chris Britt (CEO) and Ryan King (CTO)

While this doesn’t technically make Chime a bank in the traditional sense, NEO Banks do need an underlying banking connection in order to legitimize them. In the case of Chime, they are connected to Bancorp Bank and Stride Bank. So think of Chime as a frontend and Bancorp and Stride as the bank end.

This should be viewed as a positive because these big banks are able to offer you up to $250,000 FDIC insurance, which Chime users are automatically privy to  as well.

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Honest Chime Bank Review | Features


Chime bank boasts an assortment of features many of which are unique to them and can’t be found anywhere else.

Currently there are about 8 million users who have chosen Chime as their choice of bank, a number which is constantly growing.

Chime Bank Review


Chime offers 3 separate accounts that facilitate users with their budgeting and saving, which is a really cool feature.

The multiple account setup in Chime is really one of the highlights for me. First, you get a Spending Account, which is essentially a zero fee checking account.

On top of that, you can get a Savings Account, which gives you a 0.5% APY (annual percentage yield), which is actually a staggering 10x the national average which is only 0.05% APY.

The 3rd account is the Credit Builder, which works in the same way a secure credit card does as it allows you to build up your credit.

The credit builder works by transferring money from your spender account to your card, similar to a prepaid debit card. When you make purchases, it gets signed off at the credit bureau as “Paid in Full.” This is all processed with 0% interest and no credit check required.

In short, the spending account is your main account with the savings, and credit builder being optional additions.


Currently there are 38,000 ATMS nationwide where you can use your chime card with ZERO fees. Also note, there are no cash reimbursements for transactions made outside of these ATM networks and at other ATM’s there is also a transaction fee or $2.50

Chime Bank Review


As a new user, this is your first basic account. Chime was one of the first banks to offer ZERO fees for:

  • Low Bank Balances
  • Maintenance
  • Overdrafts


The spot me feature allows you to withdraw a $100 overdraft with NO fees attached. Think of it as chime giving you an I.O.U, which after you pay back, you’re good to keep using the service.

The requirements for the spot me feature is that you have an automatic monthly deposit setup of at least $500 per month. So if youR pay check is automatically going into your chime account, you should be good to go.

Another great feature is that from this direct deposit feature, Chime can front your paycheck up to 2 days early. This is a great addition for those expensive months, especially during this time.


The Spender and Savings Account integration is another favorite feature of mine, and is great for those of you who don’t want to think a lot about saving but still want to save in an autonomous way where they don’t have to worry about it.

The way the Spender and Savings Account integration works is every time you make a purchase on your debit card, it will round your purchase up to the nearest dollar and despit the difference into your Savings account.

So, if you buy something for $49.50, the card will treat it like a $50 payment, and deposit the remaining 50 cents into your savings account. This is a neat feature and you’d be surprised at how quickly your savings account can really add up over time.

To get more out of your savings account, I’d personally recommend learning the basics of stock market investing it and earning even more compounding interest over time.


Another automated savings feature is the “Save when I get paid” feature, which automatically allocates 10% of every paycheck into your savings account.

All of these deposits start earning interest immediately at the rate of 0.5% APY I mentioned earlier.

Chime Bank Review


Chime is available on Web Browser, iPhone, and Android and has an intuitive interface on all 3 platforms, which makes tracking your accounts extremely easy.

It also makes it super easy to transfer money within Chime as it works similar to Venmo. Provided the other party has a chime account, you can send money instantly from your account to theirs.

Chime Review: Honest Chime Bank Review | Downsides

When it comes to using a NEO or Online Banking service, there are a few downsides that can be expected, but also some viable work-arounds to mitigate any hassle.


Like with any NEO or Online Bank, it can often be an issue when it comes to depositing cash as there is nowhere to physically make those deposits.

Possible work-arounds to this are to setup another bank account that you can transfer from to your chime account. Alternatively, you can use a green dot card, which are readily available in the U.S, although there will be fees attached to this method.


Customer Support has received mixed reviews with a some comments out there relating to customer support waiting times. Various users have made complaints of these being a bit too long at times. However, it seems as though recently this may be being addressed by Chime. Firstly, with the introduction of Chime Bot within the app, which allows users to have common questions answered quickly.


Some users have also complained about having their accounts frozen when security picks up on what it deems to be a fraudulent charge. This could be looked at positively or negatively. While it can be a hassle to have your card frozen for what isn’t actually a fraudulent charge, it is good to know that If there is an actual fraudulent charge made to the account, there is a system in place that stops you losing your money.

This is also something that thankfully isn’t something that commonly occurs.

Chime Bank Review

Chime Review: Honest Chime Bank Review | In Conclusion

Personally, I’m a big fan of chime, especially when it comes to their unique features that promote autonomous savings.

Their focus on having customers automate their savings, as well as helping you save by offering you a Zero Fee spender account, is something anybody can appreciate.

Most people, including myself could do a lot better when it comes to managing savings and not dipping into them when we don’t really need to. As I said before, your savings account over time can will all of those spare-change payments going into it, over time can garner a decent chunk of change.

Also, despite there being concerns with support wait times, most customers are yet to have to actually use it now that ChimeBot has the answers to most questions on hand and is regularly updated

The Chime experience overall seems to be one that is stable, secure, and free of bugs and issues that require the need for much person to person support.


If you’re reading this and thinking of signing up to Chime, they are currently giving away a FREE $75 sign up bonus when you click the button below.

So, if you do want to check it out, ensure you click the button below, which will lock-in the Giveaway before sending you to the Official Chime Bank Sign-up Page.

Thanks for reading, and enjoy Chime!

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