Application Disclosure and Secured Deposit Account Agreement

Certain Application Disclosures

*Represents an OTC Cash Withdrawal obtained through an interaction with a customer service representative of a bank or other establishment honoring the Card.

**We do not charge a fee for transactions at Allpoint® or Visa® Plus Alliance ATMs, or at MoneyPass® ATMs that are located in 7-Eleven, Inc. locations. All other ATM transactions are subject to this fee. In addition to any fee we charge, the ATM operator may charge you a fee for any transaction or balance inquiry made at an ATM that is not a MoneyPass, Allpoint, or Visa Plus Alliance ATM or any MoneyPass ATM that is not inside a 7-Eleven location. This ATM fee amount will be charged to your Card Account.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in the Chime Credit Card Agreement.

SECURED DEPOSIT ACCOUNT AND SECURITY INTEREST

This is (1) an application for the Card and Card Account and (2) an agreement for the Secured Deposit Account you must establish in order to receive the Card and Card Account. You are authorizing the Bank to open the Secured Deposit Account in your name. 

Your grant of a Security Interest. You understand that, under the Chime Credit Card Agreement, you are granting us a first priority security  interest in the Secured Deposit Account and the funds you deposit into the Secured Deposit Account, except that said security interest will be made a second priority security interest only behind, and only subject to, the Security interest as set forth in the Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement (the “Funds”). If you fail to make your required payments on your Card Account or otherwise fail to comply with the terms of the Chime Credit Card Agreement, any or all of the Funds could be used to pay your obligations under the Chime Credit Card Agreement (the “Debt”). If there are still Funds remaining in the Secured Deposit Account after doing so, these Funds may remain on deposit for up to 60 days before being remitted to you.

Funding Your Secured Deposit Account and Opening Your Card Account

The Secured Deposit Account is a non-interest-bearing account; therefore, no interest will be paid to you on the Secured Deposit Account and the annual percentage yield on the Secured Deposit Account is 0.00%. 

There is no minimum deposit required for the Secured Deposit Account. However, you must fund your Secured Deposit Account (make a deposit to it) in order to use the Card. If you do not fund the Secured Deposit Account within sixty (60) days after we notify you of your approved application, we may cancel your Card Account and you will need to reapply for the Card. See the Secured Deposit Account Agreement below for information on funding your Secured Deposit Account.

The Card Account and the Secured Deposit Account Are Only Available Electronically

The Card Account and the Secured Deposit Account are only available electronically. That means that, for you to get the Card and the Secured Deposit Account, you must agree to receive all disclosures electronically. If you do not have the systems needed to receive disclosures electronically, we cannot provide the Card or the Secured Deposit Account to you. See Consent to Electronic Disclosures in your Secured Deposit Account Agreement below.

Important Information About Procedures for Opening a New Account.

To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.

MILITARY ANNUAL PERCENTAGE RATE DISCLOSURES

Federal law provides important protections to active-duty members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). To hear this same disclosure and for a general description of your payment obligations for this credit card account, call the following toll-free number 1-844-244-6363.

State Disclosures

California Residents: A married applicant may apply for a separate Card Account.

Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Married Wisconsin Residents: If you are married, by submitting your credit card application you are confirming that this credit card obligation is being incurred in the interest of your marriage and your family. No provision of a marital property agreement, unilateral statement under Section 766.59 of the Wisconsin Statutes, or court order under Section 766.70 of the Wisconsin Statutes adversely affects the interest of the creditor unless the creditor, prior to the time the credit is granted, is furnished a copy of the agreement, statement, or decree, or has actual knowledge of the adverse provision when the obligation to the creditor is incurred. If the credit card for which you are applying is granted, you will notify Chime if you have a spouse who needs to receive notification that credit has been extended to you.

Application Agreement

As noted above, this application is for the Chime Credit Builder Visa® Credit Card or the Chime Cash Rewards Visa® Credit Card, issued by The Bancorp Bank, N.A., Member FDIC and distributed and serviced by Chime on behalf of the Bank. You certify that all information provided is true, correct, and complete and that you have the legal capacity to enter into the Secured Deposit Account Agreement and the Chime Credit Card Agreement. You authorize us to verify or check any of the information given and to obtain credit reports on you. You authorize us to obtain information from others to investigate your credit, employment and income history and state records including, if necessary and available to Bank in accordance with applicable law, state employment security agency records and to report information regarding your account to consumer reporting agencies. You agree that we will determine the amount of credit extended, as well as which product you qualify for, based on our review criteria. If you do not qualify for the product or pricing requested or for the lowest pricing offered, you authorize us to grant you the product and pricing for which you do qualify. You agree to be bound by the terms and conditions of the Chime Credit Card Agreement, which will be sent to you, and understand that the terms of that Chime Credit Card Agreement may be changed at any time, subject to applicable law. You hereby agree to the terms of the arbitration program described in the Chime Credit Card Agreement. You understand and agree that you will be liable for payment of all amounts owing on the Card Account.

Pursuant to your authorization, a consumer report from consumer reporting agencies may be obtained in considering this application and for the purposes of any update, renewal, extension of credit, review, or collection of the account. Upon request, we will inform you of the name and address of each consumer reporting agency from which we obtain a consumer report relating to you.

Withdrawals, Payments, and Transfers from Your Secured Deposit Account

Under the Chime Credit Card Agreement, the Secured Deposit Account, and the Funds in it serve as the security for the Card Account and the SpotMe for Credit Builder Account (as defined in the Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement) provided to you by the Bank. However, you may make withdrawals from your Secured Deposit Account up to your “Available to Spend Amount,” the amount of credit you may use without exceeding your credit limit. Please note that you cannot make electronic fund transfers from your Secured Deposit Account to accounts owned by third parties.

1. Automatic Payments for the Card Account. By selecting “Build Credit Safely” at enrollment and at any time thereafter through the settings menu, you may choose to enable automatic payments from your Secured Deposit Account to your Card Account. You do not need to enable automatic payments to be able to deposit funds into the Secured Deposit Account or make purchases with your Card. Your access to credit and the “Available to Spend Amount” will be determined in the same manner whether or not you enable automatic payments. If you enable automatic payments, funds from your Secured Deposit Account in the amount of the Total Due will be used to pay your balance after the Statement Date. See Section II(K)(b) of the Chime Credit Card Agreement for details.
2. Manual Payments for the Card Account. If you do not enroll in Automatic Payments, you must manually pay the Total Due by the Payment Due Date from any bank account (including the Secured Deposit Account and your Chime Checking Account) that belongs to you. Your access to credit and “Available to Spend Amount” will not be increased until your manual payment is received and processed.
3. Automatic Payments for SpotMe for Credit Builder Account. If you are enrolled in the SpotMe for Credit Builder Account, you are required to agree to the making of automatic payments from the Secured Deposit Account to your SpotMe for Credit Builder Account for each billing cycle for which there is a balance due on your SpotMe for Credit Builder Account. See your Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement for further details about these automatic payments and your payment instructions.
4. Automatic Savings and Other Features. From time to time, we may make available automatic savings and other features that involve the transfer of funds to or from your Secured Deposit Account. These features will be subject to your opt-in selection, and subject to their own sets of terms and conditions contained in separate agreements. If you do not pay the outstanding balance on your Card Account or your SpotMe for Credit Builder Account by the Payment Due Date, you will be in Default, and the Bank may immediately suspend your Card or SpotMe for Credit Builder Account privileges, withdraw Funds from your Secured Deposit Account, and apply them to the Total Due. This will have the effect of changing your “Available to Spend Amount,” and your Card or SpotMe for Credit Builder Account privileges may be reinstated at the Bank’s discretion (see the Credit Card Agreement and Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement for more information). 
5. Authorized automatic transfer of funds from the Secured Deposit Account to your Chime Checking Account when a cash deposit using the Card has exceeded the Maximum Balance (or maximum deposit balance) of the Secured Deposit Account.  You expressly authorize us to make automatic transfers of those funds in cash deposits, when deposited with the Card, from your Secured Deposit Account to your Chime Checking Account, in the amount of those funds that would cause your cash deposits to exceed the Maximum Balance of the Secured Deposit Account as further described in Section II H below. If an automatic transfer made pursuant to this authorization is an inter-bank transfer between Chime Bank Partners (for example, a transfer from a Stride Secured Deposit Account to a Bancorp Checking Account), your authorization and this inter-bank transfer will also be subject to the Electronic Fund Disclosures as set forth in Section II I below.
6. Authorized automatic transfer of funds from the Secured Deposit Account to the Chime Checking Account upon closure of the Card Account and/or Secured Deposit Account. Upon closure of the Card Account and/or the Secured Deposit Account and as necessary for satisfying the obligations of Section B below, you expressly authorize us to do the following after payment of all of your outstanding Debt: transfer that remaining amount of unused funds in the Secured Deposit Account to the Chime Checking Account. If there are no remaining unused funds, we will not make a transfer. If this automatic transfer is an inter-bank transfer between Chime Bank Partners (for example, a transfer from the Secured Deposit Account to a Stride Checking Account), your authorization and this inter-bank transfer will also be subject to the Electronic Funds Transfers Disclosure as set forth in Section II I below.

At its sole discretion, the Bank has the right to require seven (7) days written notice before you withdraw or transfer money from this Secured Deposit Account. You understand that you may not withdraw funds or exercise any other rights over this Secured Deposit Account until your obligations under the Chime Credit Card Agreement and Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement have been fully paid.

Closing Your Secured Deposit Account; Returning Unused Funds

You may not close the Secured Deposit Account until your obligations under the Chime Credit Card Agreement and Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement have been fully paid and the Card Account and SpotMe for Credit Builder Account are closed. We may, in our discretion, close your Secured Deposit Account at any time. If your Card Account and/or Secured Deposit Account is closed (and as a result your SpotMe for Credit Builder Account, if applicable), then we will return any unused funds that remain in the Secured Deposit Account after payment of all of your outstanding Debt. If you qualify for a return of unused funds from the Secured Deposit Account, we will return those unused funds to you as follows: (i) we will process a check from the unused funds transferred to the Checking Account from the Secured Deposit Account and direct that a check be sent to you at the address that we have in our records, or (ii) we will process a check and direct that check to you at the address that we have in our records or (iii) we will return the unused funds per some other method deemed sufficient by us. We also may hold the funds in your Secured Deposit Account for as long as 60 days after you have paid off your Card Account and SpotMe for Credit Builder Account balance and your Card Account and SpotMe for Credit Builder Account are closed.

If the unused funds are to be returned to you via check, we will direct that the check be mailed to your mailing address on file with us for the Secured Deposit Account. For this reason, it is important you update your contact information with us if your email address, mailing address or telephone number changes. If a check sent to you is returned by the Post Office as undeliverable and if we cannot locate you, we will hold the funds from your Secured Deposit Account until you either contact us and provide information on how to send the funds to you or until we are required to remit your funds to a state under an applicable unclaimed property law, whichever occurs first.

The Bank’s Liability to You

1. Acts and Omissions of Other Financial Institutions. We will not be liable for the intentional wrongdoing or the lack of ordinary care by any financial institution that has forwarded an order or instruction for the payment, transfer, or withdrawal of funds (an “Item”) for deposit to your Secured Deposit Account.
2. Waiver. If the Bank waives any of its rights on any one occasion, it will not be considered a waiver of the Bank’s rights on any other occasion.
3. Verification of Transactions; Rights to Reverse Erroneous Credits. All transactions, including without limitation those for which we have provided a receipt, are subject to our final verification. We may reverse any credit that has been erroneously made to your Secured Deposit Account, or for which funds were not finally collected by us, at any time without prior notice.
4. General limitations. We will have no liability to you with respect to your Secured Deposit Account, other than as provided in this Secured Deposit Account Agreement. We will meet our duty of care for your Secured Deposit Account if we exercise ordinary care in the transaction at issue. When we take an Item for processing by automated means, “ordinary care” does not require that we examine the Item. “Ordinary care” requires only that we follow standards that do not vary unreasonably from the general standards followed by similarly situated banks. A mere clerical error, or an honest mistake, will not be considered a failure of us to perform any of its obligations. Unless imposed by law, we will not be liable for consequential, special, punitive, or indirect loss or damages.

Endorsements

We are authorized to supply your endorsement to any Item taken for collection, payment, or deposit to your Secured Deposit Account.

Deposited Items Returned Unpaid

We have the right to charge back to your Secured Deposit Account any Item deposited to your Secured Deposit Account that is returned. We have the right to pursue collection of such Items, even to the extent of allowing the payor bank to hold an Item beyond the midnight deadline in an attempt to recover payment. These collection efforts may include sending such Items back for collection one or more times. We will have no liability for resubmitting or not resubmitting these Items (or for taking any other action we consider reasonable to recover payment) without notice to you.

Non-Interest Bearing Secured Deposit Account

No interest will be paid on this Secured Deposit Account. The annual percentage yield on the Secured Deposit Account is 0.00%.

Minimum Balance Limitations

There is no minimum balance requirement to open this Secured Deposit Account. You will not be able to use your Card until you deposit funds into your Secured Deposit Account.

Deposits to Your Secured Deposit Account

You may make deposits to your Secured Deposit Account at any time, subject to the restrictions stated herein. You also may be provided with the ability to make cash deposits to your Secured Deposit Account using your Card subject to the restrictions stated herein and the limits as stated in your Chime Credit Card Agreement. The maximum balance of your Secured Deposit Account is $10,000.00, unless we elect to amend this maximum balance for your Secured Deposit Account (the “Maximum Balance”). You acknowledge that increasing the amount of Funds in your Secured Deposit Account will not necessarily increase your Credit Limit (as defined in the Chime Credit Card Agreement) for your Card Account if that amount exceeds your Maximum Balance. We may reject any deposit that would cause the balance of your Secured Deposit Account to exceed the Maximum Balance or in the case of cash deposits using the Card that would exceed the Maximum Balance, we may transfer the funds of those cash deposits in the amounts that exceed the Maximum Balance to your Chime Checking Account. See Section II A (e) above. If we do allow such deposit, we are not required to do so in the future. Deposits from your Chime Checking Account to your Secured Deposit Account will be credited instantly. We shall provide notice prior to any amendments decreasing the Maximum Balance for your account. All deposits must be made in U.S. dollars. The maximum deposit from your Chime Checking Account is $10,000.00. The maximum deposit from a domestic financial institution is $10,000.00. All deposits are subject to any other limitations we or the other financial institution may have on the transfer of funds. Note that domestic or international wire transfers will not be accepted. We may change these limits with notice to you. To determine the current limits that apply to you, you can access them under the settings section of the Mobile App, contact Member Services by calling 844-244-6363 or ask the Chime Chatbot within the Mobile App

Electronic Fund Transfer Disclosures

Depositing funds to your Secured Deposit Account (see “Deposits to Your Secured Deposit Account” above) and withdrawing funds from your Secured Deposit Account (see “Withdrawals and Payments From Your Secured Deposit Account” above) could be conducted as an Electronic Fund Transfer (“Transfer”). This Section includes Electronic Fund Transfer Disclosures that supplement other disclosures in this Agreement.

1. Transfer Types and Limitations. The only kind of Transfers and deposits that may be made to your Secured Deposit Account are those defined in Section H, “Deposits to Your Secured Deposit Account.” The kinds of Transfers that may be made from your Secured Deposit Account are those Transfers that occur when making payments to your Card Account or SpotMe for Credit Builder Account, transferring money to your Chime Checking Account, as set forth in II A (e) above, or initiating an ACH transaction from the Secured Deposit Account to move funds to another financial institution in the case of a withdrawal. See “Withdrawals and Payments from Your Secured Deposit Account” for limitations on withdrawing funds or making payments from your Secured Deposit Account.
2. Our Liability for Failure to Make Transfers. If we do not complete a Transfer to or from your Secured Deposit Account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable for instance: (1) if through no fault of ours, you do not have enough funds available to complete the transaction;(2) if there is a hold on your account, or your funds are subject to legal or administrative process or other encumbrance restricting their use;(3) if we have reason to believe the requested transaction is unauthorized;(4) if the Transfer is not complete, or is reversed, because a third party does not permit the Transfer; (5) if the system was not working properly and you knew about the breakdown when you started the Transfer;(6) if circumstances beyond our control (such as fire or flood) prevent the Transfer, despite reasonable precautions we have taken; or

   (7) if there are other exceptions stated in our agreement with you.

3. In case of errors or questions about your funding Transfers call us at 1-844-244-6363 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a funding Transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. When reporting an error or making an inquiry: (1) tell us your name and account number; (2) describe the error or the Transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information; (3) tell us the dollar amount of the suspected error. If you tell us orally, we require that you also send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your Secured Deposit Account within 10 business days for the amount you think is in error, so that you will have the benefit of your money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing, and we do not receive it within 10 business days, we may not credit your Secured Deposit Account. For errors involving a new Secured Deposit Account, we may take up to 90 days to investigate your complaint or question and we may take up to 20 business days to credit your Secured Deposit Account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
4. Statements. We will provide periodic statements for your Secured Deposit Account as part of your billing statement for your Card Account electronically by notifying you by email that your statement is available. When you receive this email, you will need to login to your Card Account at chime.com to view and print your statement.
5. Business days. Our business days are Monday through Friday, excluding federal holidays, even if our Member Services are operating. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.
6. Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of the Secured Deposit Account, you can stop any of these payments. Here’s how:Call us at 844-244-6363, or write us at Chime, P.O. Box 417, San Francisco, CA 94104-0417, in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. There is no fee to process your stop payment.
7. Notice of varying amounts. If these regular payments may vary in amount, we will tell you 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
8. Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Legal Actions Affecting Your Secured Deposit Account

Your Secured Deposit Account may be subject to legal action, such as a tax levy, third party garnishment, or levy, seizure, or forfeiture. Such legal action is subject to the Bank’s security interest in the Funds in the Secured Deposit Account. Fees or expenses the Bank incurs in responding to legal action (including without limitation attorneys’ fees and the Bank’s internal expenses) may be charged against your Secured Deposit Account.

Adverse Claims

If we receive a claim to all or a portion of your Secured Deposit Account that is adverse to your interest and we do not believe that we are otherwise adequately protected if we ignore that claim, we may place a hold on funds that are subject to the claim. The hold may be placed for any period of time we believe to be reasonably necessary to allow a legal proceeding to determine the merits of the claim to be instituted.

Disclosure of Information to Third Parties

We provide a copy of the Bank’s and Chime’s privacy notice at the time your Secured Deposit Account is established and annually thereafter. The Bank’s privacy notice is available on our website at https://www.chime.com/policies/bancorp/privacy-policy/. Chime’s privacy notice is also available at https://www.chime.com/policies/chime/privacy-policy/. By requesting, obtaining or using the Secured Deposit Account, you agree that we may release information in our records regarding you and your Secured Deposit Account: to comply with any properly served subpoena or similar request issued by a state or federal agency or court; to share your credit performance with credit reporting agencies and other creditors who we reasonably believe are or may be doing business with you on your Secured Deposit Account; to provide information on your Secured Deposit Account to any third party who we believe is conducting an inquiry in accordance with the Federal Fair Credit Reporting Act; to share information with our employees, agents or representatives performing work for us in connection with your Secured Deposit Account; or to communicate information as to our transactions or experiences with you to persons or entities related by common ownership or affiliated by the corporate control or with any third party (including non-affiliates).

Consent to Electronic Disclosures

This Secured Deposit Account is only available electronically. For you to obtain and maintain the Secured Deposit Account, you agree to receive all disclosures electronically pursuant to the Chime Electronic Communications Agreement which you previously agreed to when you opened your account and available at https://www.chime.com/policies/bancorp/electronic-communication-agreement/. If, for some reason, you cannot receive communications electronically in the future, you should close your Card Account and SpotMe for Credit Builder Account. See your Chime Credit Card Agreement and Chime SpotMe Overdraft Line of Credit for the Secured Deposit Account Agreement for more information on closing your Card Account and SpotMe for Credit Builder Account and the consequences of doing so.

Governing Law

You understand and agree that (i) this Secured Deposit Account Agreement is subject to applicable federal laws and, to the extent not preempted by federal law, the laws of the State of South Dakota, and (ii) your Secured Deposit Account was opened or will be continued after approval by us in the State of South Dakota. If any provision of this Secured Deposit Account Agreement conflicts with applicable law, that provision shall be considered modified to the extent necessary to comply with such law.

Force Majeure

Unless otherwise required by applicable law, we are not responsible and will not incur liability to you for any failure, error, malfunction, or any delay in carrying out obligations under this Secured Deposit Account Agreement if such failure, error, or delay results from causes that are beyond our reasonable control (including, but not limited to inclement weather, fire, flood, acts of war or terrorism, pandemic, and earthquakes).