Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

2M People Join MyPay™ Waitlist – 1M in First 48 Hours

Chime Team • June 18, 2024

In May, Chime® announced the news of its latest product innovation: MyPay. And word spread fast! People across the country are done waiting for payday. Within 48 hours of sharing the news of MyPay and early access to the product for eligible members, more than 1M people signed up for the waitlist¹. Now, there are more than 2.2M people signed up for early access to MyPay.

 

MyPay lets eligible members access up to $500² of their pay, including government benefits, before payday with no interest³, no credit check, and no mandatory fees. MyPay advances are deposited to members’ Chime checking accounts within 24 hours for free. They can also opt to get funds instantly for a low flat fee of $2 per advance.

 

“Our members want more control over when they get access to their pay,” said Chime’s Chief Product Officer Madhu Muthukumar. “The response to the waitlist has been incredible, and shows that this product is going to be a game changer. We’re excited to get another simple, helpful and powerful product into their hands, and help unlock financial progress.”

 

Chime released a waitlist to help members secure early access to MyPay. If members live in a state where MyPay is offered and meet certain eligibility requirements, they could be one of the first to try out this new product. Current Chime members can join the waitlist inside the Chime app. Non-members can join by signing up with their email address and opening a Chime Checking Account.

 

Members can move up the waitlist by successfully referring friends to join Chime, and by setting up and receiving a qualifying direct deposit². Joining the waitlist is totally free, and when MyPay is available, those who signed up can be among the first to know! Read the full Waitlist Terms and Conditions to learn more.

 

MyPay line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS ID 2316451).

1. Certain restrictions and eligibility requirements apply. See MyPayTM Waitlist Terms and Conditions for details.

2. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 – $500 Credit Limit per pay period. To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.

3. Option to get funds instantly for $2 per advance or get funds for free within 2 days. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.

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  • Chime Visa® Debit Card
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Chime® is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card and the Chime Credit Builder Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted. Please see the back of your Card for its issuing bank.

While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.

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‡ SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.

Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. and Stride Bank, N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s).

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