Chime is an online financial company that partners with Stride Bank and N.A. to offer financial services. The company offers checking and savings accounts services to enthusiasts of online banking. Even though it is not like the traditional banks, the institution’s accounts have FDIC insurance so that your funds remain safe all through. The two partner banks are FDIC-insured, which makes the funds secure. Later on, we shall check how to put money on a Chime card.
Since the service offers a checking account, you can get a card to use for your transaction. The card allows you to access money from your checking account when withdrawing at ATMs or paying for goods and services online. Therefore, when you add money to your Chime account, the funds are still reflected in your card. For your information, the Chime card is a debit card. Remember, we have credit and prepaid cards, which are all payment cards.
Payment cards are essential due to their convenience. You can use your card at an ATM to get money, as I have mentioned above. Remember that you can use the card any time of the day. Also, the Chime account is accessible 24/7 using your mobile device, and you can make payments online. The bank also integrates with various mobile money apps such as PayPal, Cash App, and Venmo to fund your transactions when needed.
How to open a Chime account?
You can open your account online if you have an internet-enabled device such as a smartphone, tablet, or computer. You also need to ensure you have the following.
- A government identification document such as a passport, Driver’s license, or a National/State ID.
- The Social Security Number
- Email address
- Physical address
- Phone Number
Once you have everything in hand, you then navigate to account opening. You need to start by entering your email address after visiting the Get Started Page, navigating to the bottom, and hitting the Gets Started tab. You will proceed stepwise until you complete your application.
Once you open your account, you will add money. You can learn how to deposit cash to Chime by reading about depositing cash in the help section. I will also discuss the process shortly.
You will need to choose your $ChimeSign, a unique handle that acts as your Chime “username” during the account opening. The username makes it easy to share money between Chime users. You need to share it with your friends to send you money.
When transferring money to them, you also need other Chime users’ $ChimeSign usernames. You can find the username in your contacts if the person is already registered. Interestingly, you can hide the username so that no one can see you by following the procedure below.
- Navigate to Settings
- Move to Privacy
- Next, switch the toggle button to the off position
After that, other users will not find you even if they search in their apps. However, they can still send you money using your email or phone number.
How do I put money on my Chime card?
When you open an account with Chime, your account balance is usually zero, and there is nothing you can do with your account. There are various ways you can avail money in your account. You need to understand that the funds are available on your card when you put money in your Chime account. Ways you can add funds to your account include the following.
1) Receive money from other Chime users
Can someone send me money to my Chime account? Yes, others can send money to your Chime account. Account-holders can transfer money to one another online. You can provide your Chime username, phone number, or email address to the person willing to send you money and have them transfer funds to your account. Chime to Chime transfers is usually instant.
You can also send money to others by following the procedure below.
- Log in to your Chime account
- Select Friends tab
- Search or enter $ChimeSign, email or phone number of the recipient
- Enter the amount of money to send to the recipient
- Write the reason why you’re sending the funds
- Confirm the amount you would like to send plus the recipient
- Select Pay Now to send the funds
2) Deposit money in a location
You can deposit money in your Chime Checking Account at various retail locations such as Walmart, Walgreens, and 7-Eleven. There are over 90,000 retail locations countrywide where you can top up and continue enjoying the platform’s services. When you arrive at any recharge location, the cashier deposits directly to your Chime Checking Account.
Chime account holders can make up to 3 deposits within a day (24 hours). The maximum amount you can add within 24 hours is $1,000, while the maximum amount of money is $10,000 every month. When depositing money at Walgreens, you pay no transaction fees whatsoever. Other companies impose fees and deposit limits. These include;
- Rite Aid
- Pilot Travel Centers (Pilot Flying J)
- Holiday Station Stores
- Dollar General
- Family Dollar
- Circle K Stores
- Sheetz Incorp
- TA Operating LLC (TravelCenters of America)
- Royal Farms
- Krause Gentle (Kum & Go)
- Cumberland Farms Corp
- Kwik Trip Inc
- GPM Investments
3) Add from another bank
You can use your bank account to top up your Chime account. You need to open your Chime mobile app to log in to your account to carry out the transfer. Navigate to Move Money and select Transfers. After that, enter the username and password for your bank account. The limit for the bank to Chime transfer is $10,000 per day and $25,000 per month.
Unfortunately, the time taken for the transfer is longer compared to cash deposits, as it takes five days for the transfer to reflect on your Chime account as well as the card. The method requires you to transfer money using the routing number and account number of your Chime account. Remember that Chime operates like a bank and thus has routing and account numbers.
There are various banks that you can use to recharge your Chime accounts. They include the following.
- Bank of America
- Navy Federal
- PNC Bank
- Capital One
- Charles Schwab
- TD Bank
- U.S. Bank
- Wells Fargo
Does Chime charge any fees?
Chime has no monthly charges or overdraft fees. The company does not have any other hidden fees whatsoever. Withdrawing money at ATMs owned by the company is free. However, if you use out-of-network fees, you will be charged some fees.
The same applies to using your debit card for over-the-counter withdrawals. Using your debit card over the counter and at ATMs out of Chime’s network costs $2.50 per transaction.
Can you transfer money from Chime to a bank account?
You can transfer money from Chime to a bank account of your choice if the need arises. Most online money transfer services give you an option to withdraw money from your bank. Since Chime does not have physical branches, you may have to transfer money to another bank and then withdraw it for use or save it for the future. The process below allows you to carry out the process.
- Open your Chime app to log in online.
- Tap on Move Money.
- Select Transfers.
- Select your bank account and enter your external bank’s login credentials when prompted. That is if you had not added your bank account.
- Input the amount to transfer and follow prompts.
Why should you choose Chime?
There are various reasons why you can consider the platform as beneficial for your transaction needs. Chime stands out in the following ways.
- Easy to sign up. You can create your account in minutes online using a smartphone, tablet, or computer. That is contrary to most traditional banks that have a lengthy process of creating an account.
- There are no overdraft fees on expenditures up to $200 on debit card purchases. However, you must qualify for the overdraft.
- Allows you to receive your payments two days earlier than traditional banks via direct deposit. Therefore, you do not have to wait for so long for your payments.
- The institution has no minimum balance requirements.
- It has no monthly fee requirements.
- Zero foreign transaction fees.
- Numerous fee-free ATMs for withdrawals
- Quickly reload at stores such as CVS®, Walgreens®, and 7-Eleven®. Fees may apply at some places.
- Chime helps you to build credit. With their new secured credit card, you can increase your credit scores by around 30 points. The card has no interest, charges zero annual fees, and does not require credit when applying.
- You can save money and earn a 0.50% Annual Percentage Yield (APY). There are no fees whatsoever on your savings account.
- The institution allows you to set alerts and notifications about any transaction in your account. If there is any issue, you will be able to know.
Chime is a financial company that allows you to manage your money online. You can open your account online using devices such as smartphones, tablets, and computers. Once you open your account, you can reload it using a bank account, at a location, or receive money from other Chime users online. Money in your account is also available on your Chime card for use at various places.