Chime is a financial technology company that allows you to send and receive money. It is not a bank as many people think. The Bancorp Bank or Stride Bank provides the company’s banking services. Therefore, it is FDIC insured since the banks providing the services have FDIC insurance. But does chime work with Zelle? In today’s article, we want to look at whether Chime can work with Zelle.
For your information, Zelle is a money transfer service that allows you to transfer money between banks within a short time. It helps reduce the lengthy period one has to wait for when they transfer money from their bank to another bank. Many banks within the US work with Zelle and you can easily integrate the services with your online bank account.
Using Zelle is free, although specific banks may charge some fees. It is important to note that Zelle does not work outside the US. If you are transferring money outside the US, you will have to use other transfer agents such as Western Union, MoneyGram, and Wise, among others. You can also use ACH or wire transfer to send your money to international recipients.
How do I open a Chime bank account?
You can open a Chime account online and send money with a checking account number instantly to other Chime account users. Opening a Chime bank account is very easy online. Since Chime operates purely online, you will need an internet-enabled device such as your smartphone or computer.
You also need to ensure that your internet is secure to make sure that your information is safe. Insecure internet connections can easily allow hackers to get your crucial information, thus stealing from your online bank account. Before applying for a chime account, you need to gather all the required information, which include;
- Social security number (SSN)
- Your Government Identification document: can be your driver’s license, passport, or government-issued ID
- First and last name, and
- Phone number
- Email and a password
The Social security Number and the identification document ensure that only genuine people open bank accounts. If the documents were not necessary, it could be very easy for criminals to open accounts to fund their evil activities such as terrorism, drug trafficking, human trafficking, and money laundering.
Once you have all the above details, you can then proceed to the account opening page to get started. You can decide to apply for a Chime Spending account or a savings account. In either of the accounts, the requirements are the same. Chime requires you to download their mobile banking app to open your account. Apps are more secure compared to when using the web.
When you open a Chime Spending Account, you will be able to;
- Deposit money
- Manage transactions, and
- View your balance
You will also find it easy to transfer money from Chime to a bank account of your wish using direct deposit. In such a case, you require the routing and account numbers of the receiving bank.
How does Chime work with Zelle?
If you are using Chime services, you must be curious to know whether Zelle supports Chime services. Zelle does not just work with brick-and-mortar banks but online banks. Therefore, Zelle can work very well with Chime only if you add the Chime debit card.
However, unlike many banks, you need to connect Zelle with Chime right from your Zelle app and not within the Chime app. You can set up Zelle to work with Chime in the following manner.
i) Download the Zelle app
You first need to download the Zelle app on your smartphone. Zelle works with Android and iOS devices, and you can be sure that your latest smartphone will accept installing the app.
ii) Create a free Zelle account
After downloading the Zelle app, you need to create a free account online right from your smartphone. You will need your mobile phone number to proceed.
iii) Find your bank
Once you have created your Zelle account, the next thing is funding your bank. Zelle will prompt you to find your bank, and in that case, you will enter Chime in the space provided, which says, “Where do you bank?” if you do not see Chime, you can click on “Don’t see your bank?” to proceed.
A screen will open that will prompt you to enter your Chime debit card. Make sure you enter the debit card that links to your Chime account. That way, you will have linked your Chime account indirectly. Click “Continue” to move to the next step.
iv) Choose a Password
You need to secure your account, and thus, you need to choose a solid password to work with your account. Make sure that your account is as hard as possible to guess. Once you are through, you can then begin using Zelle with Chime.
Zelle also works as a stand-alone app whereby you can send money from Zelle to Chime when you transfer to a Zelle account that links a Chime debit card. However, the stand-alone Zelle app has limits on the amount of money you can transfer per day. You cannot send more than $500 per week. When using Zelle with your bank, you can send as much as your bank can allow.
Can I send money instantly using Zelle on Chime?
It is important to note that Chime as an institution does not work with Zelle. However, when you use the Chime debit card on Zelle, then things can work out well. The only disadvantage with using a Chime debit card with Zelle is that payments will not be as fast as they are when you use a real bank account.
It can take several business days to process the payments, contrary to the instant transfer between banks. After all, the service is free even if you use the Chime debit card.
How do I open a Zelle account?
You must open a Zelle account to use the Zelle services. Opening an account with Zelle is free and takes a few minutes to complete. If your online bank supports Zelle, then Zelle is right there, and you will just need to choose your username and create your password.
You can get started with Zelle by enrolling with your email or US. number through your Zelle banking app. You will get a step-by-step guide on how to go about the whole process.
How to send money with Zelle
To send money using Zelle, you must open your Zelle app on your smartphone to log in. Next, enter your email address or the US mobile number of the recipient. If the recipient’s Zelle app links to any bank, the funds will be available in the bank account as soon as you send them. You can send funds to almost anyone you know and trust with a bank account in the U.S. But can you send money internationally with Zelle?
You cannot transfer money to recipients outside the US since Zelle does not support international transfers. All recipients must be within the US. As I mentioned earlier, you can opt for other international money transfer platforms to sort your international money transfer issue.
Why Use Zelle on Chime?
There are various advantages because you should use your Chime debit card with Zelle. They include the following.
1) Zelle is secure
You can be sure that your transactions are end-to-end encrypted, and thus, no one can see your transfer details. However, you must use a secure internet connection and never assume that Zelle will take care of any danger.
2) It is free to use
You will not pay any transfer fees as it is with many apps. Remember that your bank may require you to pay some fees. Therefore, if you were to pay fees, the amount to pay differs from one bank to the other.
3) Works with various banks
Now there is no need to worry whether Zelle works with other banks other than Chime. Various banks and credit unions allow Zelle services, and you can always ask your bank if they allow the services.
4) It is fast
Even though it takes several business days to process a payment sent using a Chime debit card, the service is usually fast when you use it with other banks. It has simplified the traditional way of sending money between banks.
How to send funds from Chime to Zelle
Can I send money from chime to Zelle? If asking yourself that question, then you have the answer here. When you add your Chime debit card to Zelle, you make it easy to add money from your Chime account to Zelle.
You can link your Chime account debit card by entering your Chime card number, the Expiry date & CSC, and then complete the setup process. Once the card is linked successfully, you can request money from the card to add to your Zelle balance.
Bottom line
Chime is a financial technology company that operates within the United States. The platform operates entirely online, and you can use your Android or iOS device to manage your account. Chime does not give you an option to integrate with Zelle. However, you can add the Chime debit card to your Zelle account and use your Chime balance on Zelle. Like Chime, Zelle does not operate internationally.
