If you’ve been looking for banking more simplified, look no further than Chime. Learn about our Chime Card experience and how you can sign up, too!
We’ve been saving up all of our nickels and dimes in hopes we may be able to travel again someday soon. We’re ready for a trip back to Bali!
These last few weeks, Shawn and I have been re-evaluating how we spend and save money in these uncertain times. We refinanced the house at significantly lower interest rates, reevaluated our car insurance premiums, called our credit card companies to negotiate better rewards.
Several of you have asked how we are managing through these challenging times – even more so with me going full-time with my own business. We have partnered with Chime as a way to bring you our honest thoughts on the service compared with traditional banks.
We just enrolled and always promise to bring your our honest review of our banking experience with Chime card over the next several months.
Today, we are outlining that banking experience with an honest Chime card review. If you’ve signed up, as well, we’d love to hear your thoughts! Questions we’re hoping to address for you today are:
- What is Chime?
- Why Did We Choose Chime Card?
- Is Chime a Good Banking Service?
- How Do I Open a Chime Card Account?
- How Do I Deposit Money Into My Chime Card Account?
- Is There a Free ATM Network With Chime?
- Are There Cash Withdrawal Limits?
- Benefits of the Chime Card Mobile App
- Chime Bank Referral Program
WHAT IS CHIME?
Chime is an online banking service with an award winning mobie app and debit card. Chime allows members to manage on-the-go banking with features including no monthly service fees, minimum balance requirements, fee-free overdraft protection with SpotMe for eligible members and more.
In today’s climate, as we all deal with uncertainty and the changes in the world around us, Chime is continuing to make things easier for their members by providing more transparancy, ease and flexibility over traditional banks.
Chime currently has more than 200,000+ 5-star reviews and nominated as a ‘New App We Love’ by NerdWallet.
WHY DID WE CHOOSE CHIME?
There are a number of reasons we chose Chime debit card. But, here are just a few of the many reasons we love banking services.
Along with the convenience of a mobile-first banking app, Chime has eliminated a lot of fees for its customers. You’ll never pay any of the following with Chime:
- Monthly fees
- Overdraft fees
- Foreign transaction fees
- And there’s no minimum balance requirement
In addition to no minimum balance requirements, we also fell in love thanks to the following features:
- Get paid early – with direct depost, you can get paid up to two days in advance making it easy to get access to funds you need as early as possible. We love this feature for eligible members – especially when many of us are in need of funds more than ever.
- Automatic savings – Chime card members can easily save for everyday life moments and emergenies with their automatic savings features:
- Round ups: save change with every purchase by rounding up and stashing that money into your Savings Account.
- Save when I get paid – this feature allows you to set 10% of your paycheck every time you get paid.
- Real time alerts with every transaction
- Extensive fee-free ATM network
IS CHIME A GOOD BANKING SERVICE?
Chime is an online-only banking service that partners with two banks to offer its Spending and Savings. It’s not like your traditional neighborhood bank branch, but Chime accounts still have FDIC insurance through their bank partners, so it’s a safe place to keep your money just like a traditional bank.
HOW DO I OPEN A CHIME SPENDING ACCOUNT?
Setting up and account with Chime was very simple. You start by downloading the free app for either your Andriod or iOS phone or tablet. Once you have downloaded the Chime app, you’ll be asked to enter the following details:
- First and last name
- Home address
- Phone number
- Date of birth
- Social Security number
There are two kinds of accounts you can open with Chime. The first is called a Spending Account and it comes with a Visa debit card. There’s also an optional Savings Account that currently earns 1.00% APY.
Similarly, we received our Chime card within just a few days of setting up our account. Once we received our debit card in the mail we activated it easily via the Chime mobile app. It made our Chime experience simplified.
HOW DO I DEPOSIT MONEY INTO MY CHIME ACCOUNT?
The easiest way to deposit funds to your Spending or Savings Account is by direct deposit from your employer.
To make direct deposits through your employer or payroll provider, provide them with your Chime routing number and account number. Chime will quickly take care of the rest. Your funds will automatically post to your Chime Account as soon as they are received. And, don’t forget, with Chime, you can often get your direct depostis up to two days early!
To get started, you can find your bank routing number and account number in the Chime app sections, Move Money and Settings, or by logging in to your account online.
IS THERE A FREE ATM NETWORK WITH CHIME?
One of the most frequently asked questions we receive regarding our expereince with Chime Bank is ‘are there enough ATM’s with an online banking system?’ And, the answer is ‘yes’.
Chime offers over 38,000 fee-free ATMs nationwide through their partners, MoneyPass and Visa Plus Alliance (VPA) networks.
Finding an ATM in your area is really quick and simple with the use of the Chime mobile app or go online to www.chime.com to visit their ATM Finder.
If you are using app version 3.4 or later, the ATM Finder identifies an additional 38,000 cash-back locations at major merchants across the US.
ARE THERE CASH WITHDRAWL LIMITS AT ATM’S?
There can be some fees with a cash withdrawl at ATM’s and other banking institutions. Here are the specifics:
- ATMs — You can withdraw up to $500 per day at any ATM. However, there is a $2.50 fee every time you make a withdrawal from an ATM outside the MoneyPass and VPA networks. Additionally, the out-of-network ATM provider may charge you an additional fee at their discretion.
- Banks and Credit Unions — You can request a cash withdrawal by going into a bank or credit union and presenting your Chime Visa Debit Card to the teller. This is referred to as an Over-The-Counter Withdrawal. There is a $2.50 fee every time you withdraw cash this way with a limit of up to $500.00 per day.
BENEFITS OF THE CHIME MOBILE APP
One of the many benefits of choosing Chime is the extensive use of their mobile app. The mobile app is extensive in our opinion. Via the app you can:
- Mail a check, when needed
- Link your accounts
- Invite firends to enroll
- Transfer or pay friends and family
- Pay bills automatically
- … and so much more!
CHIME REFERRAL PROGRAM
Love Chime and interested in earning a bit of extra money? Chime is currently offering a referral bonus every time you refer someone new to Chime using your referral link (via the app), and they receive a single qualifying direct deposit of $200 or more!
Your friend must enroll and complete a single direct deposit of $200.00 or more from their payroll provider within 45 days of opening their new account. If the terms are complete, both you and your friend will get $50 each!
You can invite your friends to join Chime using the Chime mobile app or by logging in to your account online and follow the below instructions.
To invite friends using the Chime mobile app:
- At the top-left corner, select Settings.
- At the top of the Settings screen, tap Invite Friends.
- Select names from your contacts to send an invite, customize the message if you’d like, and tap Send.
- You can also share your customized invite link on the Invite Friends screen by going to the top-right corner and tapping Share.
If you have any questions at all regarding setting up a Chime account, please do not hesitate to let us know. We are more than open to ansring any questions you might have at any time!
This post is sponsored by Chime but the content and opinions expressed here are my own.
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