Savings Account Agreement

Updated 02/24/2020

Savings Account Agreement and Disclosures

Our Agreement

This agreement contains the Savings Account Agreement (the “Agreement”) for the optional savings account (“Chime Savings” or “Savings Account”) made available to eligible consumers by Stride Bank, N.A., member FDIC, (the “Bank” or “Issuer) on behalf of Chime Financial, Inc. (“Chime”). Chime is the program partner responsible for managing the Savings Account and its related Spending Account, defined below. “We”, “our”, and “us” refer to the Bank, its successors, affiliates, or assignees. “You”, “your”, and “member” refer to the owner of the Savings Account. By submitting an account application, or by using any of our deposit account services, you and anyone else identified as an owner of the account agree to the terms in this Agreement.

The Spending Account is a demand deposit account available from The Bank. The optional Savings Account, which is an interest-bearing savings account, is only available to holders of a Spending Account (collectively referred to as “Accounts”).

The holder of a Chime Account may submit a request to open a Chime Savings Account at the Chime Account website (the “Website”) at or by using the Chime mobile banking application (the “Mobile App”). Chime Savings is not designed for business use, and we may close the account if we determine it is being used for business purposes. We may refuse to process any transaction(s) we believe may violate the terms of this Agreement.

Business Days

Our business days are Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.

Savings Account Basics

  1. Who is eligible for Chime Savings
    • The optional Savings Account is available only to citizens and permanent residents of the fifty (50) United States (“U.S.”) and the District of Columbia who are at least 18 years of age with a valid Social Security number who are holders of a Chime Spending Account (“Spending Account” or “Chime Account”). You must agree to accept electronic, rather than paper statements. This means; (i) you must keep us supplied with your valid email address; and (ii) you must agree to accept electronic delivery of all account communications (like end-of-year tax forms and electronic statements).
    • To open a Savings Account, your Spending Account must be open and active.
    • We may use information from third parties to help us determine if we should open the Savings Account.
  2. Chime Savings
    • Chime Savings is an optional online Savings Account available only to persons who have an open and active Spending Account. Chime Savings depositors may additionally opt in to the Automatic Savings feature. See the paragraph labeled “1. Deposits to the Savings Account” in Section C for additional details about the feature.
  3. Savings Account Titling and Ownership
    • A Savings Account may only be owned and titled in the name of one (1) person who shall solely retain the right to direct the deposit or transfer of funds. The Savings Account cannot be owned or titled jointly, by an organization, as Payable on Death (“POD”) or “In Trust For” (“ITF”).
  4. Death or Incapacitation
    • You or your appointed party, designee, or appointed individual agree to notify us promptly if you become legally incapacitated, are deemed incompetent, or die. We will continue to accept deposits and process transaction instructions into and from the Savings Account until we are: (a) notified of your death or adjudication of incompetency and (b) have a reasonable opportunity to act. After we receive notice of death or incompetence, we may freeze your balance, refuse to accept transactions, reverse or return deposits, and we may pay or process transactions on or before the date of death for up to ten (10) days after that date unless ordered to stop by someone claiming interest in the Savings Account. We are also not required to release your funds until we receive any document(s) we reasonably request to verify your death or incompetence, as well as who is entitled to the funds. If you die while residing outside the United States, we may require a personal representative to be appointed by a court in a United States jurisdiction. If we have any tax liability because of paying your balance to your estate, the estate will be responsible for repaying us the amount of that tax.
  5. Our Relationship With You
    • This Agreement and the deposit relationship do not create a fiduciary relationship.
  6. Privacy Policy
    • Our privacy policy is available at and is considered part of this Agreement.

General Rules Governing Savings Accounts

The Savings Account and your obligations under this Agreement may not be assigned. We may transfer our rights under this Agreement. Use of the Savings Account is subject to all applicable rules and customs of any applicable clearinghouse, Federal Reserve, or other association involved in transactions. We do not waive our rights by delaying or failing to exercise them at any time. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected. This Agreement will be governed by the law of the State of Oklahoma except to the extent governed by federal law. WE WILL NOT BE LIABLE FOR INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES REGARDLESS OF THE FORM OF ACTION AND EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. If this Agreement conflicts with any statements made by one of our employees or by our affiliates’ employees, this Agreement will govern.

  1. Deposits to the Savings Account
    • You may make deposits to the Savings Account by transferring funds from your Spending Account using the Website or the Mobile App. These transfers are referred to as “Online Transfers.”
    • If you activate an optional Automatic Savings Feature, described in detail in the agreement containing its terms and conditions (the “Automatic Savings Agreement”), Chime will initiate deposits to your Savings Account on your behalf. Such deposits include:
      1. “Round Up Transfers” (described in the Automatic Savings Agreement) which can be between $0.01 and $0.99 each, to be deducted from your Spending Account balance, with the particular amount of the Round Up Transfer to be based on the amount of the underlying eligible purchase you made with the Spending Account.
      2. “Save When I Get Paid” (described in the Automatic Savings Agreement) which allows members to automatically transfer a percentage of Qualifying Direct Deposits from your Spending Account to your Savings Account.
      3. Round Up Bonuses (described in the Automatic Savings Agreement) gives Bonus Members a weekly reward credit equivalent to either five percent (5%) or ten percent (10%) of the total value of all Round Up Transfers completed on their Account since the prior Friday.
    • We will not be liable to you for our failure to transfer funds under any Automatic Savings Feature that you select, for any reason, including system outages or defects. In particular, we will not be liable for any interest you might have earned on the savings account if the funds were not transferred

    See the paragraph labeled “2. Transaction Limitations” in Section D for additional details about deposits.

  2. Withdrawals from the Savings Account

    You may withdraw funds from the Savings Account by transferring funds to your Spending Account using the Website or the Mobile App. These transfers are referred to as “Online Transfers.”  Federal regulations limit the number of Online Transfers out of your Savings Account. During any monthly statement period, you may make no more than six (6) Online Transfers to or from the Savings Account. We are required to ensure that you comply with this limit. Any Online Transfers initiated from the Savings Account to the Spending Account after the sixth transfer via the Website or Mobile App will be blocked until the start of the next statement cycle. At the beginning of the next statement cycle, access to transfer from the Savings Account will be restored to six (6) for that cycle. We reserve the right to at any time require not less than seven (7) days notice in writing before any withdrawal from an interest bearing account. 

  3. Preauthorized Transfers

    The account number of the Savings Account cannot be used for preauthorized direct debits (“ACH Debits”) from merchants, Internet service or other utility service providers (“Merchants”) or for the purpose of initiating direct deposits to the Savings Account. If presented for payment, ACH Debits and direct deposits will be declined and payment/deposits to or from the Merchant or deposit provider will be returned.

  4. Right to Set Off
    If the balance of your Spending Account should become and then remain negative for fifteen (15) days, the funds, if any, in your Savings Account may be used to repay the negative balance. This means we have the right to set-off any liability, direct or contingent, past, present or future that you owe against any account you have with us. Further, you grant us a lien on and security interest in the funds on deposit in each of your account(s) as security for all of your liabilities and obligations to us, now or in the future. Our security interest will be governed by Uniform Commercial Code Article 9, whether Article 9 applies by its terms or not. We do not have to give you any prior notice to apply the funds. You expressly agree that our rights extend to any electronically deposited federal or state benefit payments (including Social Security benefits). If you don’t want your benefits applied in this way, you may change your direct deposit instructions at any time with the person or organization paying the benefits. We may notify you if we have exercised our right to set off.
  5. Legal Processes Affecting Savings Accounts

    If legal action such as a garnishment, levy, attachment, or other state of federal legal process (“Legal Process”) is brought against the Savings Account, we may refuse to permit (or may limit) transfers from it until the Legal Process is satisfied or dismissed. Regardless of the terms of such garnishment, levy or other state or federal process, we have first claim to any and all funds in your Savings Account. We will not contest on your behalf any such Legal Process and may take action to comply with such Legal Process as we determine to be appropriate in the circumstances without liability to you, even if any funds we may be required to pay out leaves insufficient funds for a transfer you have authorized. Payment is made after satisfying any fees, charges or other debts owed to us. You agree that you are responsible for any expenses, including legal expenses and fees we incur due to any Legal Process affecting your Savings Account. We may charge these expenses to your Savings Account. You will indemnify us for any losses if we do this.

  6. Account Inactivity
    A Savings Account with a zero balance or no customer-initiated activity for nine (9) continuous months is considered inactive and is subject to closure. For purposes of this paragraph, customer-initiated activity includes any Online Transfers you make to or from the Savings Account as well as any Automatic Savings Feature transfers made on your behalf. For additional details about inactive accounts, see the paragraph labeled “11. Inactive and Unclaimed Accounts” in Section D.
  7. Statements

    A “statement period” means the period covered by your Savings Account statement. The specific dates covered by your Savings Account statement will be on your statement. You will not automatically receive paper statements. Electronic statements are available to view and print at Savings Account statements are considered to be correct. Carefully review your statement each statement cycle and notify us of any errors within sixty (60) days of your statement becoming available. You also have a right to obtain a sixty (60) day written history of your Savings Account transactions by calling 1 (844) 244-6363.

    If you think your statement is wrong, or if you need more information about a transaction listed on it, call us at 1 (844) 244-6363. We must hear from you NO LATER than 60 days after we sent you the FIRST statement on which the error appeared. Please provide us with the following:

    • Your name and account number;
    • A description of the error or the transaction you are unsure about, and why you think it is an error or want more information; and
    • The amount of the suspected error.

    We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. However, if we need more time, we may take up to 45 days to investigate your complaint or question. If we do this, we will credit your balance within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If you opened your account less than 30 days before the date of the suspected error, the 10-business-day period is extended to 20 business days. If you opened your account less than 30 days before the date of the suspected error or the transaction occurred at a point-of-sale location or outside the U.S., the 45-day period is extended to 90 days.

    If you call us, we may require that you send us your complaint or question in writing within 10 business days. If we do not receive it within 10 business days, we may not credit your balance.

    We will tell you the results within three 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.

Truth in Savings Disclosures

  1. Opening Deposit and Balance Requirements

    There is no minimum deposit requirement to open a Savings Account. While there are no minimum or maximum balance requirements, a Savings Account with a zero (0) balance for nine (9) continuous months will be subject to closure. See the paragraph labeled “6. Amendment and Cancellation” in Section D below for additional details.

  2. Transaction Limitations

    To protect your balance, we place transaction limits on your Savings Accounts.

    However, we may:

    • Allow transactions that exceed your limits.
    • Temporarily reduce your limits without notice, for security purposes.
    • Change your limits (we’ll notify you if we do).

    You are allowed a limited number of withdrawals from your Savings Account.  See below for details.

    Your Accounts will be restricted if we consider your Accounts to be inactive or dormant.

    DEPOSITS to the Savings Account may be made from your Spending Account at the Website or by using the Mobile App. These are the Online Transfer limits that apply to your deposit activity:

    Transaction Type

    Frequency and/or Dollar Limits*

    Online Transfer from Spending Account to Savings Account

    No Limits

    WITHDRAWALS may only be made via Online Transfer from the Savings Account to your Spending Account. Federal regulations limit the number of Online Transfers from the Savings Account to six (6) per statement cycle. Any transfers initiated from the Savings Account after the sixth transfer will be blocked until the start of the next statement cycle.

  3. Interest Rate Information
    The initial interest rate and Annual Percentage Yield (“APY”) on your Chime Savings Account can be found at the APY and Interest Rate page. The Chime Savings Account is a tiered variable rate account. The interest rates and APY may change from time to time without notice to you. Any change in these terms will be posted at the APY and Interest Rate page . You agree to check for updates to these terms. You understand that by continuing to maintain your Savings Account without objecting to any change in terms, you are accepting any new terms and you will be legally bound by all new terms and conditions. If required by applicable law, we will provide you with prior notice of changes to these terms.Interest begins to accrue no later than the business day the deposit is applied to the Savings Account. Interest will be compounded daily and credited to the Savings Account on a monthly basis.  We reserve the right not to pay interest on any deposited item that is returned to us unpaid.


  4. Balance Information

    Savings Account interest is calculated using the daily balance calculation method. This method applies a daily periodic rate to the principle balance in the Savings Account each day. There are no minimum or maximum balance restrictions on the Savings Account.

  5. Funds Availability

    All Online Transfers are completed electronically. You will have immediate availability to your funds once they are transferred from the Savings Account to your Spending Account or from the Spending Account to the Savings Account.

  6. Amendment and Cancellation

    We may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement at, and any such amendment shall be effective upon such posting to the Website. The Agreement is also available at You will be notified of any amendment(s) in the manner provided by applicable law prior to the effective date of the amendment(s). However, if the amendment(s) is made for security purposes, we can implement it without prior notice.

    We may cancel or suspend your Savings Account or this Agreement at any time. You may cancel this Agreement by calling 1 (844) 244-6363 to close your Savings Account. Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to cancellation.

    If your Savings Account is cancelled, closed or terminated for any reason, any remaining balance will be transferred to your Spending Account. If your Savings Account is closed prior to the end of the statement cycle, any accrued interest earned for that cycle will be forfeited. Once the Savings Account is closed, you cannot request a new Savings Account for ninety (90) days.

    IMPORTANT: If your Spending Account is closed for any reason, the Savings Account will automatically be closed. Upon closure, any remaining funds in the Savings Account, including any interest payments due to you, will be aggregated with the remaining funds in your Spending Account. The aggregated funds will then be made available for refund in accordance with the terms of the paragraph labeled “10. Amendment and Cancellation” found in Section C of the Chime Deposit Account Agreement where we describe the process of closing the Spending Account and refunding the account balance.

  7.  Our Liability for Failure to Complete Transactions

    If we do not properly complete a transaction between your Savings Account and your Spending 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 in your Savings Account to complete the Online Transfer;
    2. If access to your Savings Account or Spending Account has been blocked after you reported your Card or Spending or Savings Account numbers lost or stolen;
    3. If there is a hold or your funds are subject to Legal Process or other encumbrance restricting their use;
    4. If we have reason to believe the requested transaction is unauthorized;
    5. If circumstances beyond our control (such as fire, flood, or computer communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
    6. Any other exception stated in our Agreement with you.
  8. Confidentiality

    We may disclose information to third parties about your Savings Account or the transactions you make:

    1. Where it is necessary for completing transactions;
    2. In order to verify the existence and condition of your Savings Account for a third party
    3. In order to comply with government agency, court order, or other legal or administrative reporting requirements;
    4. If you consent by giving us your written permission;
    5. To our employees, auditors, affiliates, service providers, or attorneys as needed; or
    6. Otherwise as necessary to fulfill our obligations under this Agreement.
  9. Information About Your Right to Dispute Errors

    If you believe your Savings Account number has been lost, stolen, or compromised in any way, or someone has transferred or may transfer money from your Savings Account without your permission, contact us immediately by calling 1-844-244-6363, or writing to Member Services, P.O. Box 417, San Francisco, CA 94104-0417, or emailing us at .  See 8. in Section C “IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC FUNDS TRANSFERS” for transactions into and out of your Savings Account.  Your liability for unauthorized transfers from the Spending Account is explained in “Section II ELECTRONIC FUNDS TRANSFER DISCLOSURE AND SPECIAL TERMS AND CONDITIONS,” of the Deposit Account Agreement.

  10. Our Responsibility to Collect Personal Information

    Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. We require the following information or documents as a condition to your opening an account:

    • Your name; residential address; date of birth; and Social Security number, driver’s license or other identifying documents

    Our policies may require additional information about you or any person associated with you or with the account when or after you open the account to assure that we comply with “Know Your Customer” requirements. We may restrict or close your account if we are unable to obtain information in order to satisfy our “Know Your Customer” requirements. By opening an account with us, you confirm that neither you nor any beneficial owner of any account is covered by any sanctions programs administered or enforced by the U.S. Department of the Treasury, Office of Foreign Asset Control.

  11.  Inactive and Unclaimed Accounts

    Each state has laws that govern when accounts are considered inactive or abandoned, and when we’re required to send a customer’s funds to the state. We encourage you to make sure your Savings Account remains active by making transactions. We’ll notify you in accordance with applicable state unclaimed property laws before we transfer your funds to the state as abandoned property.

  12. English Language Controls

    The terms of this Agreement and the products and services we provide are governed by the English language. Any translation of this Agreement is provided for your convenience. The meaning of the terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.

  13.  Customer Service

    For customer service or additional information regarding your Savings Account, please contact us at:

    P.O. Box 417
    San Francisco, CA 94104-0417
    1 (844) 244-6363

    Customer Service agents are available to answer your calls:
    Monday through Saturday, 7 a.m. to 7 p.m. CST
    Sunday, 9 a.m. to 6 p.m. CST (holidays excluded)

  14. Telephone Monitoring/Recording

    From time to time we may monitor and/or record telephone calls between you and us to assure the quality of our customer service or as required by applicable.

  15.  Arbitration.

    By accepting your Savings Account, you acknowledge that you are giving up the right to litigate Claims if either party elects arbitration of the Claims pursuant to this clause, except as otherwise expressly provided herein, and you hereby knowingly and voluntarily waive the right to trial of all Claims subject to this Agreement. You further acknowledge that you have read this arbitration provision carefully, agree to its terms, and are entering into this Agreement voluntarily and not in reliance on any promises or representations whatsoever except those contained in this Agreement.



    Arbitration of Claims. Except as expressly provided herein, any claim, dispute or controversy (whether based upon contract; tort, intentional or otherwise; constitution; statute; common law; or equity and whether pre-existing, present or future), including initial claims, counter-claims, cross-claims and third party claims, arising from or relating to (i) the Savings Account; (ii) any service relating to the Savings Account; (iii) the marketing of the Savings Account; (iv) this Agreement, including the validity, enforceability, interpretation, scope, or application of this Agreement and this arbitration provision (except for the prohibition on class or other non-individual claims, which shall be for a court to decide); and (v) any other agreement or instrument relating to the Card or any such service (“Claim”) shall be decided, upon the election of you or the Bank (or Chime or the Bank’s agents, employees, successors, representatives, affiliated companies, or assigns), by binding arbitration pursuant to this arbitration provision and the applicable rules and procedures of the arbitration administrator in effect at the time the Claim is filed. The American Arbitration Association (“AAA”) shall serve as the arbitration administrator. You may obtain copies of the current rules, forms, and instructions for initiating an arbitration with the AAA by contacting the AAA as follows: on the web at or by writing to AAA at 1633 Broadway, 10th Floor, New York, NY 10019.

    Other Claims Subject to Arbitration. In addition to Claims brought by either you or the Bank, Claims made by or against the Bank or by or against anyone connected with you or the Bank or claiming through you or the Bank (including a second cardholder, employee, agent, representative, affiliated company, predecessor or successor, heir, assignee, or trustee in bankruptcy) shall be subject to arbitration as described herein.

    Exceptions. You and we agree not to invoke our right to arbitrate any individual Claim you bring in small claims court or an equivalent court so long as the Claim is pending only in that court. This arbitration provision also does not limit or constrain the Bank’s right to interplead funds in the event of claims to Collateral Account funds by several parties.

    Individual Claims Only. It is the intent of the parties to require Claims to be submitted to arbitration on an individual basis only. Claims subject to this arbitration provision may not be joined or consolidated in arbitration with any Claim of any other person or be arbitrated on a class basis, in a representative capacity on behalf of the general public or on behalf of any other person, unless otherwise agreed to by the parties in writing. However, co-applicants, second cardholders and authorized users of a single Card and/or related cards are considered as one person, and the Bank, its officers, directors, employees, agents, and affiliates are considered as one person.

    Arbitration Fees. If you initiate arbitration, the Bank will advance any arbitration fees, including any required deposit. If the Bank initiates or elects arbitration, the Bank will pay the entire amount of the arbitration fees, including any required deposit. Notwithstanding any provision of this arbitration provision or the rules and procedures of the arbitration administrator, the Bank will be responsible for payment and/or reimbursement of any arbitration fees to the extent that such fees exceed the amount of the filing fees you would have incurred if your Claim had been brought in the state or federal court nearest your residence with jurisdiction over the Claims.

    Procedure. A single arbitrator will resolve the Claims. The arbitrator will be a lawyer with at least ten years’ experience or who is a former or retired judge. The arbitration shall follow the rules and procedures of the arbitration administrator in effect on the date the arbitration is filed, except when there is a conflict or inconsistency between the rules and procedures of the arbitration administrator and this arbitration provision, in which case this arbitration provision shall govern. Any in-person arbitration hearing for a Claim shall take place within the federal judicial district in which you live or at such other reasonably convenient location as agreed by the parties. The arbitrator shall apply applicable substantive law consistent with the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (the “FAA”) and shall honor all claims of privilege and confidentiality recognized at law. All statutes of limitations that would otherwise be applicable shall apply to any arbitration proceeding. The arbitrator shall be empowered to grant whatever relief would be available in court under law or in equity. At the request of any party, the arbitrator will provide a written explanation of the basis for the disposition of each claim, including written findings of fact and conclusions of law. This arbitration provision is made pursuant to a transaction involving interstate commerce, and shall be governed by the FAA.

    Survival of Arbitration. This arbitration provision shall survive: i) the termination of the Agreement; ii) the bankruptcy of any party; iii) any transfer, sale or assignment of your Savings Account; or iv) closing of the Savings Account. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.


This Agreement is effective 02/2020

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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