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

Get to know Chime®

Disrupting the banking status quo

The problem

More than a decade ago, in the wake of the global financial crisis, Chime co-founders Chris Britt and Ryan King set out to tackle a fundamental problem they saw in the traditional banking system: it simply wasn’t working for everyday people. They saw traditional banks treating their customers as an afterthought instead of the center of their business. False promises like “free checking” were actually riddled with hidden fees. The cost of entry to basic banking was steep and these banks’ products and services weren’t actually built for the financial realities of living paycheck to paycheck.

The Chime difference

In 2012, Chris and Ryan founded Chime, determined to disrupt the status quo and build a different type of company that puts everyday people first and gives them more control over their financial lives.

Chime’s business today still reflects that commitment. Instead of monthly service fees, our revenue comes mainly from transactions, the small amount we earn from Visa® when a member uses their Chime card. In other words, we profit with our members, not from them.

Pioneering products for everyday people and driving progress

Unlocking financial progress

Every day, Americans face financial challenges that force them to make hard decisions about their money. Millions of people are forced to stretch their paychecks to make ends meet, all too familiar with the stress that arrives toward the end of the month. Too many financial service companies exploit these financial challenges by selling expensive and even predatory financial products and services like high-interest credit cards, payday loans, and overdraft fees.

Chime does the opposite. Our financial products are designed to work for everyday people, not profit from them.

Driving impact

We’ve helped bring features and tools to market that were unavailable to most consumers just a few years ago, creating a suite of financial services products that directly address the needs of everyday people to help them unlock financial progress. We’re pleased to see that many banks have more recently started to eliminate or reduce overdraft fees, which is good for consumers.

To date, Chime has saved our members billions of dollars in overdraft fees. Chime was a pioneer in fee-free overdraft when we launched our SpotMe® product – allowing our members to overdraft fee-free up to $200² – and the industry has since cut down its overreliance on overdraft. This is what financial progress for everyday people looks like: billions of dollars in overdraft fees put back into their pockets.

Innovation and competition

Chime’s member alignment and technological innovation continues across our other products designed to provide a helpful, transparent and fair experience:

  • In 2014, we introduced checking and savings accounts with no monthly fees or minimum balance requirements.
  • In 2015, we introduced Get Paid Early, enabling direct depositors to get their paycheck up to two days early³. Every month we provide early access to billions of dollars in paychecks. Many banks have now adopted this and millions of Americans – not just Chime members – are now able to receive their paychecks up to two days early.
  • In 2016, we were one of the first to open checking accounts for consumers without using Chexsystems®, a practice that has limited banking options for some consumers.
  • In 2017, we introduced “Pay Anyone,” our fee-free P2P payment tool for sending and receiving money. Funds sit safely and securely in FDIC-insured accounts, with our partner banks The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
  • In 2018, we were a pioneer in providing fee-free overdraft with the launch of SpotMe. Since launching our fee-free overdraft product, U.S. banks have moved away from their overreliance on overdraft, lowering fees or eliminating them altogether.⁴
  • In 2020, we introduced the Chime Secured Credit Builder Visa® Credit Card, Chime’s innovative secured credit card with no annual, interest or late fees⁵, and no credit check, which has helped millions of people establish or improve their credit scores.⁶

Playing by the rules

Well-Regulated + FDIC-insured

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.

Chime creates financial products in full partnership with our partner banks, which are subject to the same oversight and regulations that traditional banks and their offerings face.

Chime members’ deposits sit in fully FDIC-insured accounts and our services are subject to the same oversight and regulation that traditional banks and their offerings face such as Regulation E, Know Your Customer requirements, as well as other rules and regulations.

More choice, more innovation

Our innovative products give consumers more choice and create a more competitive financial services landscape. More competition means better outcomes for consumers. We’re proud of the positive impact we’ve had.

As a technology company, Chime’s expertise and platform investments help our bank partners better serve members and expand their customer bases. This, in turn, helps make them more competitive in an era of increasing industry consolidation, with the top few banks getting larger everyday at their expense.

Transparent, trusted

Nothing is more important at Chime than safeguarding members’ money and personal information. In addition, Chime has made significant investments in people and technology to ensure we’re a responsible participant within the payments and finance ecosystem. That focus allows us to meet our commitments to federal and state regulators, our partner banks, and most importantly, our members.

Chime has hired an expert team to manage risk, including experts in cybersecurity, financial fraud, anti-money laundering, analytics, underwriting, and machine learning. We have 4,200+ customer service experts that provide 24/7 live support via phone and live chat channels to help resolve questions as quickly as possible. Our banking partners audit our work and we work closely with them to review and respond to all consumer complaints.

We regularly update the Safety and Security section of our blog to keep our members aware of new tips and guidance to help keep their accounts and information secure. Visit our Trust & Safety page to learn more about how we protect our members’ money, use security controls, and keep accounts safe.

Learn more about how Chime is building a culture of trust and safety.

Member-obsessed

Customer-first approach

Chime obsesses over the needs of our members and lives by a set of Core Values that guide our actions. We sweat the details of the customer experience and always have their back. The result: nearly half of Chime’s new signups come from word of mouth and referrals. It’s all part of what we call being “member-obsessed.”

Who are Chime members? They’re everyday Americans: your friends, coworkers, and neighbors. Our members often struggle with the high costs and barriers to entry in traditional financial services. This includes young people entering the job market, women, people of color, and those most affected by economic downturns.

Chime Values

💚  Be member-obsessed
We are guided by a deep understanding of our members’ needs and a devotion to meeting those needs at every step. We practice empathy in everything we do.

🙃  Be human
We keep it real. We build trust and connection with our members by making them laugh, feel understood, and get inspired.

🚀  Be bold
We dream big. We set audacious goals, tackle the hard stuff, and do things that no bank has done before. We see a broken industry and believe in our ability to change it forever.

🎯  Simplify
We start with the simplest solution and only add to it if necessary. We are famously practical and focused. Our motto is “Do Less. Faster. More often.”

📈  Make it happen
We measure the impact of our work and push hard to hit our goals. We find ways around roadblocks. We hold each other accountable to a high bar for performance.

🎖 Respect the rules
We take seriously our obligations to regulators, partners, and the public. We move fast and push for changes without cutting corners. We risk failure if we ever break the regulations.

👯‍ Team up
We know great work isn’t done alone. We organize into teams that leverage the different strengths we each bring. We are stronger when we have each other’s backs.

🙋🏽‍♀️ Chime in
As owners, we have an obligation to speak up. We share our ideas, ask hard questions, and give candid feedback. When others chime in, we value what they have to say.

Making a difference

Building a foundation

Chime has members in all 50 states, and we understand that each of our members are experiencing their own financial triumphs and challenges. We strive to be a resource for our members to help them stay on top of their finances, avoid unnecessary fees and create a solid financial foundation.

Creating impact

We strive to be a force for good in the banking industry and beyond. From empowering people to take control of their finances, to investing in the communities in which we operate. As a Pledge 1% member, Chime has committed 1% of its future equity to fund the Chime Scholars Foundation, Chime’s non-profit organization that helps everyday people build a better future through higher education.

Chime backs organizations and causes that work on breaking down systemic barriers to financial progress. Through core community impact programs focused on financial education, inclusion, and resilience, we live our mission of unlocking financial progress for everyday people.

One of our core financial inclusion programs, Chime in for Changemakers™, provides resources and support to local innovators and community leaders who are creating new paths to financial progress for underserved communities. Our partnership with Zogo, a financial education platform, helps Chime members access the educational content they need to achieve financial progress.

Showing up

We know how much financial resilience can make-or-break members’ financial lives. From pandemics to natural disasters, we find the opportunity to make a difference and get right to work. When COVID hit, we were able to give people early access to critical stimulus and unemployment benefit payments, often up to five days before traditional banks.⁷ This helped our members pay the rent, support their families and put gas in their cars so they could get to work. Chime delivered early access to more than $6.5 billion of pandemic-related benefits to our members. Through our partner SBP® and other natural disaster organizations, we provide resources and support for members who have been impacted by a natural disaster–ensuring that access to capital is not a barrier to their financial recovery.

Passionate people

Chime is headquartered in San Francisco, with additional offices in Chicago and Vancouver. Although Chimers come from many different backgrounds, they have one big thing in common: an abiding passion for our mission.

Chimers are engineers and customer service professionals, designers and data scientists, experts on risk and cybersecurity – talented people who are dedicated to making financial services work for more people and helping to transform lives.

Chime employees can use 1% of their work time to volunteer and give back. Chimers can create their own volunteer activities or choose from existing opportunities through VolunteerMatch®.

Chime is committed to building a diverse workforce at both the employee and leadership level. We believe Chime’s open and supportive culture inspires our employees to do an even better job serving members. In 2022, Chime was named to the Fortune list of Best Small & Medium Workplaces™ and Inc.’s list of Best Workplaces. In 2023, we were included on Forbes’ list of America’s Best Startup Employers.

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.

By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties' privacy or security practices.

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).

Third-party trademarks referenced for informational purposes only; no endorsements implied.

¹ Performance of Chime - Mobile Banking as of 2/13/24: https://www.data.ai/en/apps/ios/app/chime-mobile/

² SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Credit Builder Account. SpotMe on Debit is an optional, no fee overdraft service attached to the Chime Checking Account available to qualifying members after Visa debit card activation. Both SpotMe on Credit and SpotMe on Debit are sometimes collectively referred to as "SpotMe" or, if you have signed up to use SpotMe with only one account, "SpotMe" means the elected service. To qualify for SpotMe, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month.

Qualifying members will be allowed to overdraw their Chime Checking Account and/or Secured Deposit Account (associated with your Chime Credit Builder credit card) up to $20, but may be later eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit Terms and Conditions and SpotMe on Credit Terms and Conditions.

³ Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

⁴ Information from Consumer Financial Protection Bureau "Overdraft/NSF revenue down nearly 50% versus pre-pandemic level" as of May 23, 2023: https://www.consumerfinance.gov/data-research/research-reports/data-spotlight-overdraft-nsf-revenue-in-q4-2022-down-nearly-50-versus-pre-pandemic-levels/

⁵ Out-of-network ATM withdrawal and over the counter advance fees may apply. See for details: https://www.chime.com/chime-credit-builder-visa-credit-card-agreement/

⁶ On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.

⁷ Direct deposit payments such as stimulus payments, tax refunds, social security payments or veterans benefits may be received from the federal government and made available up to five days before the scheduled payment date.

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