Automatic Savings Account Agreement

PLEASE READ THIS DOCUMENT CAREFULLY

Eligibility

The member must have an open and active Spending Account and a Savings Account to be eligible to choose the Automatic Savings feature (“Automatic Savings”).

Chime (the “Sponsor”) reserves the right to cancel or modify the Automatic Savings feature, or terminate the member’s eligibility, at any time with or without prior notice.

Opt-in

Automatic Savings may be activated or disabled by the member at any time under the Settings screen in the Chime mobile app or Website at
chime.com

Round Up Transfers

How it works

Following the member’s activation of Round Up Transfers, each purchase made by the member with his or her Chime Visa® Debit Card will be rounded up to the nearest whole U.S. dollar. Foreign purchases are rounded up to the nearest whole dollar after the purchase is converted to U.S. dollars. The purchase plus the round up amount will be debited from the Spending Account, and the round up amount (between $0.01 and $0.99) will then be transferred to the member’s Savings Account. This transfer is referred to as a “Round Up Transfer” collectively. The transfer will appear as the following, depending on where the member is viewing the transaction:

  • “Round Up Transfer to Saving Account” in your Chime Spending Account Statement;
  • “Round Up Transfer from Spending Account” in your Chime Savings Account Statement
  • “Round Up” under the related transaction in your Spending Account transactions in the mobile app
  • “Round Up Transfer” in the Savings Account transaction screen in the mobile app and on Spending Account transaction and Savings Account transactions the Website.
  • What is a purchase?
    Any settled (i.e., fully completed) card present or card not present Personal Identification Number (“PIN”) or signature purchase transaction made using the Chime Visa Debit Card. This includes online transactions made using the 16-digit card number.
  • What is not a purchase?
    Any cash withdrawal from an Automated Teller Machine (“ATM”) or Over The Counter (“OTC”) cash withdrawal; bill payment transactions using the Chime Checkbook; cash back received at a Point-of-Sale device; Online Transfers between the Spending Account and the Savings Account; ACH Credits initiated from the Chime Mobile App or Website to another bank account you own; and electronic Automated Clearing House (“ACH”) debit transactions.
  • How is the round up amount determined for purchase transactions made in a foreign currency?
    All round up amounts are based on the U.S. dollar value of the transaction when it posts to your Spending Account.

Transfer Timing

One (1) Round Up Transfer will be completed for each purchase transaction made with the member’s Chime Visa Debit Card when the purchase transaction settles, i.e., is finalized. A purchase typically settles within 1 to 3 business days of the transaction date: the timing depends on the merchant’s actions. If a member’s purchase is canceled or reversed for any reason (including disputes), the corresponding Round Up Transfer will not be reversed. If you have reached the Transfer limit from your Savings Account to your Spending Account for a calendar month, you will no longer receive Round Up Transfers for the remainder of the calendar month to avoid limiting your access to funds.

Exceptions

  • A Round Up Transfer will not be made if a purchase transaction consists of a whole dollar amount, e.g., $5.00.
  • Retroactive Round Up Transfers are not permitted. This means, even if the member later adds value, or a credit posts to the Spending Account, previously unmade Round Up Transfers will not be posted to the Savings Account.

Save When You Get a Direct Deposit

Save When I Get Paid – How it works

Following the member’s activation of Save When I Get Paid, a percentage of each qualifying direct deposit you receive will be transferred automatically from the member’s Chime Spending Account into the member’s Savings Account, immediately after you receive each qualifying direct deposit. This transfer is referred to as a “Save When I Get Paid Transfer” in this Agreement. The transfer will appear as “Transfer to Chime Savings” in your Spending Account statement and “Transfer from Chime Spending” in your Savings Account statement and your transaction history. Save When I Get Paid Transfers will only apply to direct deposits of $500.00 or more.

  • Save When I Get Paid Transfer, Generally. Member may transfer ten (10) percent of your direct deposit in the Chime Mobile App.

A qualifying direct deposit is any direct deposit received to the Chime member’s Chime Spending Account by an Automated Clearing House (ACH) deposit of $500 or more. Pay Friends transfers, verification or trial deposits from financial institutions, transfers from PayPal or Venmo, mobile check deposits, and cash loads or deposits are not qualifying direct deposits.

Round Up Bonus

How it Works

Certain Chime members may be eligible for a 5% or 10% Round Up Bonus. Every Friday, the member’s Savings Account will receive a reward credit equivalent to either five percent (5%) or ten percent (10%) of the total value of all Round Up Transfers completed since the prior Friday. The Round Up Bonus is calculated and paid approximately between 10:00 AM and 1:00PM PST. This weekly reward will appear as a “Round Up Bonus” in the member’s Savings Account transaction history and statement. The maximum Round Up Bonuses that may be credited between January 1 and December 31 of any calendar year, is $2,000 per member.

To be eligible to receive 5% Roundup Bonus, you must:

  • Have signed up for Chime through one of the following Chime’s 5% Round Up Partners through a link that starts with “com/partners/5percent/[partner name]”.
  • Have an open and active Spending Account and Savings Account; and
  • Enroll in the automatic savings feature Round Up Transfers.

To be eligible to receive 10% Roundup Bonus, you must:

  • Have signed up for Chime through one of the following Chime’s 10% Round Up Partners through a link that starts with “com/partners/10percent/[partner name]”.
  • Have an open and active Spending Account and Savings Account; and
  • Enroll in the automatic savings feature Round Up Transfers.

Sponsor: Chime Financial, Inc. of San Francisco, California, d/b/a Chime

Banking Services provided by The Bancorp Bank, Member FDIC. The Chime Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

This Agreement is effective 04/2021

Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank.

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