Chime Bank Reviews - What Is It?

WARNING: DO NOT USE Chime Bank Until You Read This Review!
Is it a Scam? Does It Really Work?

Chime Bank is an online bank offering different bank services such as checking accounts and automatic savings plans. The latter provide 10% cash back rewards up to $500 every year. According to its LinkedIn profile, Chime Bank was founded in 2013 by Ryan and Britt King who are still the leaders of the company. King is its CTO, while Chris Britt is its current CEO. Britt is quite experienced in the prepaid card and credit card industry. He was a senior vice president and chief product officer at prepaid card company Green Dot Corporation. King worked IT in Silicon Valley; he was Vice President and CTO of Comcast Silicon Valley from May 2011 to November 2012.

Chime Bank has become popular as Millennials have avoided big banks looking for smaller, online banks who function via app-based banking and don't charge fees. This upstart bank account is said to be built for a "technologically skilled" generation. Unlike other banks, Chime was formed during the smartphone era and, thus, it comes with an app that allows its customers more than just to review their bank accounts. This bank is said to have brand recognition, according to its official website. But what exactly does it offer? Is it really fee-free? We are going to answer these questions further in this review. We will also take a look at what real clients think about Chime Bank.

Customer Reviews - Does Chime Bank Really Work?

Chime Bank offers the same services which you can get with a traditional bank: savings, checking, and an app. There are only some nuances that differentiate them from big banks. For instance, Chime's checking accounts are called "Spending" accounts. They are available online only. There are no brick-and-mortar stores. At the time of writing this review, Chime offered three ways of depositing money into your account: ATM deposits, Direct Deposit, and bank transfers. ATM Deposit allows you to get a Visa debit card with which you can pay for different goods and services. This card can also be used for depositing cash to your Chime account via Green Dot ATMs. Direct Deposit is standard among banks, but it is a bit different in the Chime bank, since it allows receiving your paycheck up to two days early. Bank Transfer means that you can deposit money from any bank account into your Chime account for free. But this option is good only when you are starting your Chime account and moving money over.

There are different reviews about Chime Bank. Since most of them are outdated we will focus on recent reviews, as well as those received from iTunes stores and Google Play. The review from the College Investor gave it four stars out of ten for the fee-free bank. The major complaints were that it wasn't a suitable for people who use cash, since there wasn't any mobile check deposit feature. Besides, the bank has certain transaction limitations. Chime is a good fit for those who have straightforward banking needs. It has got a built-in savings tool. It is free from fees. You can pay bills via the mobile Chime Checkbook and spend money with a visa debit card. Rockstar Finance gave this bank 4.5 stars out of 5, claiming that the bank is suitable for those looking for a simple online bank with diverse features. One of the positive things mentioned in the review about Chime was that it was free from fee. However, they didn't like the fact that the app was available only to residents of the United States. Thus, it was concluded that it is up to you to decide whether this bank can help you save money.

Finally, Google Play with more than 2,800 reviewers gave Chime Bank an average rating of 4.3 out of 5 stars. While some of those reviews were four or five stars, the others were only one or two stars. Shaneka Howell's review from gave the application five stars. Speaking about Chime, she said she liked the idea of instant transaction notifications; however, it wasn't new at all. She also appreciated the absence of overdraft fees. What was really frustrating, though, was unresponsive customer service. She faced a long wait time to consult any of their representatives. Many customers report having the same experience. The customer service line has very limited capabilities and options. It may take you ten minutes of working through the menu and waiting to talk with someone. Even if you succeed, there is no guarantee that you will get a helpful answer or advice. Let us take a look at the actual customers' testimonials about Chime Bank.

"I am not pleased with Chime Bank. They are not able to provide adequate customer service to their bankers. I have had issues with my account but they refused to help me. In order to receive any assistance I have to get rude. I have faced the need to contact merchant services many times and did not receive any help from them! The only thing they can do is to provide you with a few recommendations taken from their banker's book for dummies. Such problem-solving sucks! At present I am waiting on a dispute for $100. I want to cancel my account. It is a bad decision to bank with this staff. I can give zero stars to this bank"

"I requested from ChimeBank a check to be mailed in order to pay a bill. The payment was not posted to my account within two weeks, so I tried to contact the bank. The phone line of their customer service does not provide an option to talk to a human. The only way to do it is to go into the "Inquiries about my account" menu but still you have to wait for a while. They do not reply to messages or emails sent through the app. I complained about the poor customer service. It seems they don't care about their clients and their problems. There are 55 complaints to the California BBB, none of which has been resolved"

"I am not satisfied with Chime bank. An ATM ate my card and I didn't get my withdrawal. I called the customer service and was told they would give me a new card in a few days. It's been two weeks but I haven't got any card. I called them several times and they told me a different story every time. I am risk losing my car, being kicked out of my apartment, but they do not do anything to help me. They have spoilt my life. Their manager is the worst in the world. Her name is Lauven Daniel (#2127). I want her to get fired. She was very rude to me"

My Final Summary

Chime Bank is a modern-era finance tool for personal use. It is fee-free banking available online only, similar to investment apps like Acorns and Betterment that charge minimal fees for their services. It is said to be a good tool for anyone who prefers to do all their banking online. Their 10% bonus up to $500 on money sounds very promising. However, the bank will not give you free money. It has many downsides to Chime. For example, you can't have a joint account. There are spending limits for people with an above-average income who make many high-dollar transactions and write a lot of checks every day. Chime Bank is not suitable for those who are not comfortable doing their banking online. You may want to study other options available. Many customers report experiencing different problems with their tax refunds, deposits and cards. Taking into account all advantages and disadvantages of Chime Bank, I cannot recommend it.

Chime Bank Pricing and Rates

While reading through Chime's fine print, we saw only one fee: a $2.50 charge for using out-of-network ATMs. You will be charged $2.50 for withdrawing money. Besides, you may be charged a fee for trying a withdrawal without really withdrawing money or checking your balance (by some financial institutions). There are certain limits on transactions and debit card restrictions.