Online banking with no overdraft fees¹

In a nutshell, an overdraft fee is a fee that a bank or credit union charges you when a purchase or other transaction exceeds the available balance in your checking account. Overdraft fees can be charged on in-store purchases, online shopping, bill payments, cash withdrawals, and other transactions. Learn more about overdraft fees on our blog.

According to Bankrate, the average overdraft fee in the United States is nearly $30 in 2022. That’s a lot of money to charge someone who you know doesn’t have money in their account. With our SpotMe feature, you don’t pay a dime in fees when you overdraft.

Before you choose a bank account, check the bank’s terms and conditions, especially when it comes to fees. While banks are no longer allowed to charge overdraft fees without your consent automatically, it’s possible to opt in for overdraft protection without realizing it.

You can use a few methods to avoid overdraft fees, depending on where you have an account. Read more about how to avoid overdraft fees on our blog.

With an account through Chime, you don’t have to worry about fees for insufficient funds. Instead, any debit or cash withdrawals that would result in a negative Checking Account balance are simply rejected. SpotMe can also cover you when you use your Credit Builder card as well.

No. If you do not have sufficient funds in your Chime^® Checking Account, or have reached your SpotMe² limit (if enrolled), then your Chime Visa^® Debit Card will be declined. There is no fee for declining transactions or for utilizing SpotMe^®.

It’s pretty simple, really: We think overdraft fees are the pits, so we decided to get rid of them. SpotMe is a totally free service for eligible Chime members who overdraft their checking account and is now available for members when they use their Credit Builder card.

Once you’re eligible, enroll in SpotMe (it’s fee-free!), and we’ve got your back when you overdraft your account by up to $200.

Chime members who receive $200 or more in qualifying direct deposits over the preceding 34 days, and have activated their Chime debit card or secured credit card are eligible for SpotMe.

1. Activate your Chime Visa® Debit Card.
2. Open the Settings tab in your Chime app to find out if you’re eligible for the SpotMe feature (make sure you have the latest version of the app).
3. Once you agree to the SpotMe Terms and Conditions, you are officially enrolled in SpotMe!
4. When you’re enrolled in SpotMe, you will be able to make debit card purchases that overdraft your Checking account. SpotMe is also available when you use your Credit Builder card.
5. When we receive your next deposit, we will automatically apply it to your negative balance. No overdraft fees are applied. Ever.

You can use SpotMe for:

• Debit card purchases
• Credit card purchases
• Cash-back transactions
• ATM withdrawals

SpotMe does not cover:

• Pay Anyone transfers
• Direct debits, such as automatic bill payments, from your Checking Account
• Transfers to your Savings Account
• Transfers to apps like Venmo and Cash App
• Chime Checkbook transactions

Your Chime SpotMe limit starts at $20 and may go up to $200 depending on your account activity, history, and other risk factors. Receiving bonuses and Boosts from friends on Chime can temporarily increase your SpotMe limit.

Note: Chime Member Service agents cannot increase your SpotMe limit for you.

Your Chime SpotMe limit is set automatically by a variety of factors related to how you use your Chime account. This may include how long you’ve been a member, your account history, and how much you direct deposit per month. We’ll notify you if and when you qualify for a higher limit.

If you want to manually lower your limit to a personal max, it’s easy and fast. If you’re eligible for SpotMe, all you need to do is open your Chime app > Scroll down in your Home feed > Tap Settings > and adjust your limit.

The next time money is deposited into your Checking Account or Credit Builder secured deposit account, we’ll automatically apply it to your negative balance or owed amount. You’ll be in the clear, without having paid any overdraft fees.

SpotMe Boosts let you temporarily raise your friends’ SpotMe limits by $5. To send a Boost to a friend:

1. Open the app
2. Go to the Friends screen
3. Tap SpotMe Boosts
4. Search for a contact and tap Send $5 Boost next to their name

You can send and receive up to four (4) Boosts per month. Boosts last until the first day of the next month, and you can only send one Boost per friend per month.

An overdraft happens when transactions posted to your account exceed your balance. In other words, you overspend and end up with a negative balance. An overdraft fee is a fee that a bank or credit union charges you when a purchase or other transaction exceeds the available balance in your checking account. Overdraft fees can be charged on in-store purchases, online shopping, bill payments, cash withdrawals, and other transactions. Learn more about overdraft fees.