Split your Direct Deposit Funds Transfer Terms & Conditions

These Split your Pay Direct Deposit Funds Transfer Terms & Conditions (“FT Terms”) govern the funds transfers as further described below. By enrolling in this service, you acknowledge and agree to these FT Terms.

These FT Terms are incorporated into the Chime User Agreement and the Chime Deposit Account Agreement, and any other agreement that you may have agreed to as a condition of opening and using your Chime account(s), all as amended and updated. Please keep a copy of these FT Terms for your records.

Introduction

The Funds Transfer service provides you with the ability to split your direct deposits and allocate a designated percentage of funds or a specific amount of funds from your direct deposit to go to your Credit Builder Secured Deposit Account and/or your Savings Account and/or to remain in your Chime Deposit Account. Funds Transfers are subject to any applicable outstanding balances and repayment obligations as further discussed in D(2) below.

Definitions:

“Chime Deposit Account” means your Chime Checking Account.

“Funds Transfer(s)” is a transfer of your selected amount of Eligible Funds (as based on your selected percentage or specific amount of funds) from your Chime Deposit Account to your Credit Builder Secured Deposit Account and/or Savings Account either on a one time or recurring basis. “Funds Transfer(s) also include your selected amount of Eligible Funds to remain in your Chime Deposit Account.

“Eligible Funds” are funds from the following direct deposits: (1) a payroll deposit made by your employer, or other payor, that is coded as a payroll transfer of funds, and; (2) a government benefit deposit. –The following are not Eligible Funds and include, but are not limited to, the following: MyPay advances, loans, referral bonuses, Top of Wallet incentives, manual bonus adjustment from agents, refunds, chargebacks, rewards, reimbursements and microdeposits.

Funds Transfer(s) Authorization:

One-Time Funds Transfer: You authorize Chime, on behalf of its banking partners, to make a one-time Funds Transfer.

Recurring Funds Transfers: You expressly authorize Chime, on behalf of its banking partners, to automatically make a Funds Transfer(s) each time that Chime identifies that you have received Eligible Funds.

Inter-Bank Funds Transfer(s): If a Funds Transfer(s) made pursuant to this authorization is an inter-bank transfer between Chime Bank Partners, such as a The Bancorp Bank, N.A. Chime Deposit Account to a Stride Credit Builder Secured Deposit Account), your authorization and this inter-bank transfer will also be subject to the electronic funds transfers disclosures as set forth in your Chime Deposit Account Agreement.

Funds Transfer(s) Amounts and Frequency

Selecting Amount. The amount of each Funds Transfer(s) is based on your selected percentage or amount of Eligible Funds, which may include your selection of all Eligible Funds, to remain in the Chime Deposit Account. The amount of each Funds Transfer(s) depends on the amount of Eligible Funds deposited to and received in your Chime Deposit Account.

Repayments. For each Funds Transfer(s), the total amount of funds to be transferred and/or remain will be less those amounts due for any applicable outstanding balances and repayment obligations in order as follows: SpotMe on Debit, SpotMe on Credit, loans (which means those instant loans offered by Chime’s banking partners), MyPay, and any negative balances on your Chime Deposit Account.

Deposit Payor Agreements. Eligible Funds are based on your agreement with the person or entity that initiates the deposit or transfer to your Chime Deposit Account (“Deposit Payor”). Please note that Eligible Funds may vary, including for a recurring deposit or transfer, per the terms of your agreement with each Deposit Payor.

Frequency. The frequency of Funds Transfer(s) is based on when and how often you receive Eligible Funds. For example, if you receive Eligible Funds twice a month (i.e. in the form of a payroll deposit, for example), Chime, on behalf of its banking partners, will move those Eligible Funds twice a month. Also, if you receive Eligible Funds per multiple deposits (like monthly government benefits and bi-monthly payroll deposits), each deposit will be moved based on when each deposit is received, independent of when you receive any other deposit or transfer.

Change or Cancelation of Fund(s) Transfers

At any time, through the Chime Mobile App, you can change or cancel your Funds Transfer selection. You understand that a change to your Funds Transfer selection may result in your termination of your authorization to automatically transfer Eligible Funds to your Secured Deposit Account and/or Savings Account, as applicable. Your Funds Transfer selection change will not apply to pending or prior settled Funds Transfers, but only to future Funds Transfers.

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