Chime is an online banking app that offers money management, savings, and spending features. Available for free for iOS and Android devices, the Chime app has more than 8 million users.
Users need a Chime spending account to log into the app. While all users receive a debit card, they may choose to open savings or credit builder accounts. Within the app, they can check their account balances, transfer money, and manage their spending. Chime members don’t need to maintain a minimum balance.
What sets the Chime app apart? A clean interface and advanced money management features, including:
Mobile payment options
In light of Covid-19, nobody wants to touch surfaces they don’t absolutely need to. The Chime app includes a mobile wallet so there’s no need to handle a physical card or card reader.
Chime can connect with either Apple Pay or Google Pay. No additional fees are charged for mobile payments.
You can also send money to other friends who use the Chime app. Pay Friends makes splitting a check for lunch a piece of cake, eliminating the need to access an ATM or pull out your card.
The Chime app puts a premium on security and control. Two-factor authentication, biometric access controls, 128-bit AES encryption, and secure transfer protocols keep unauthorized users from gaining access.
Another key security feature of the Chime app is its transaction blocker. If your card is lost or used without your permission, you can toggle a switch in the app to block all transactions.
To help you keep an eye out for unauthorized transactions, the Chime app provides real-time alerts. Any time your Chime card is used, you’ll receive an instant transaction alert.
Early access to funds
In the Chime app, you can set up direct deposit. When you open an account, you’ll receive a form you can give to your employer. Return it, and you can get your paycheck up to two days early.
While you shouldn’t use early payments as an excuse to go on a shopping spree, getting your money a little early can give you some peace of mind. Use it to pay your bills directly from the Chime app.
If you do run a bit short, Chime has a SpotMe feature for eligible members. SpotMe covers overdraft fees on debit card purchases up to $100, with the option to pay it forward with a tip once your account balance is back in positive territory again.
If you have both a spending and a savings account with Chime, you can enable a feature called Save When You Spend. Save When You Spend rounds up purchases to the nearest dollar and puts that spare change into your savings account.
Chime’s other automatic savings option, Save When You Get Paid, lets you set a certain amount of your paycheck (up to 10%) into your linked savings account. Every time you receive a direct deposit, your savings account will get a boost.
Nearly 300,000 reviews have been left in the Apple App store about the Chime app, averaging a 4.8 out of 5 star rating. Download the Chime app to transform the way you bank.