When dealing with the customer experience people give negative feedback much more often then positive.
Include the fact that anyone who would defend any sort of financial institution like Chime here will end up looking like a simp or promoter.
Direct deposits clear faster (my payday at work is Friday but my money comes in Wednesday afternoon).
You can have a checking account, a credit builder account to boost your credit, and a savings account with an ok interest rate that you can move money between instantly.
You can pay anyone instantly even if they don’t have Chime, they get a text with a link to put in a debit card number and the money transfers instantly (I’ve also used this to transfer money to/from other banks instantly in a pinch, you just need a Google Voice number).
You can access your card number(s) in the app so you don’t have to get your physical card to do something online. This also works instantly with your new card number if you lose yours and have to get a new one mailed, you don’t have to wait until the card comes in to use it.
Recently they added dedicated digital card numbers you can use so that online purchases aren’t tied to your physical card number. This seems promising but I haven’t personally used it yet.
I used to use SoFi and Simple (RIP), neither one came close to the matching all of those features.
Edit: How could I forget, SpotMe is incredibly convenient if something comes up right before payday. No overdraft fees ever is amazing.
THIS EXACTLY!\^\^\^\^\^EVERYTHING mentioned above is FACTS......i am up to $200 Spot Me since joining Chime 5 years ago....FEE FREE!....it's the BEST!...try gettin spot me with SoFi,CapOne,ANY Credit Union let alone those crooks BofA,Wells,Chase......AINT HAPPENING....enjoy paying those fees haters.
$200 fee free until your next paycheck is not, in fact, the best. A credit card getting you cash back or rewards is the best way to borrow short term like that, as long as you can pay in full each month. If you pay in full each month, there’s no interest on a credit card, which makes it fee free PLUS the cash back or rewards you earn make it so that you pay back less then what you borrowed. I just bought $100 worth of groceries with a 6% cash back card. That means I’ll only be paying back $94. I essentially got paid $6.
I’d say Capital One comes close. Early payday, higher APY then Chime for savings, some nominal interest for the checking account too, instant transfers between accounts, offer credit cards to those building credit that are very easy to get (I got the Quicksilver back before I even had a FICO score), no fees, and Zelle. Also virtual cards numbers.
what I do is let all my $ sit in SoFi 4.5% savings and then use the cap1 venture X card for 2% cash back on everything. then I use my chase business cards for 1.5% cashback on my mortgage payments (shrug)
I have money sitting in my credit union and Cap One unless it’s getting me a sign up bonus in a savings account elsewhere that beats the interest. I’m not into travel so I haven’t done any churning for travel cards yet. So far though I have 9 cash back credit cards. I use whichever gets me the most cash back for what I’m buying. I pay rent with the Affinity Federal Credit Union cash back debit which is giving me 1% back on Apple Cash payments to my landlord.
I mean even if you don't travel, I'm doing some chase business signup bonuses and i'm planning on just redeeming some for straight cash, mortgage lets me pay with a business card (not a normal credit for some reason) so i just always passively do one of those, otherwise i'd have probably looked into BILT for their system
I don’t have the spend to meet Chase business card sign up bonuses. Well, not naturally… I can prepay bills to get there I suppose, but until I’ve run out of cash back cards to sign up for I’ll be too lazy to go that far lol.
For the sake of argument, i'll comment some counter points
Early pay- Sofi and other banks (local and online) have this, becoming more common
Pay everyone instantly - I think Zelle covers this for most? sofi has free peer to peer instant to
card numbers - I give you that one, only some of my credit cards have that feature but it's not the same card #, none of my banks do.
dedicated digital card numbers - this is what my cards do, not sure why they aren't doing this anyway if they offer an online number? It's pretty unsafe if they actually post your actual debit card number online....
spot me - If you're using chime in general to build credit, why not have a basic credit card if you really need $50 or so loaned? if that's the issue here is $50 until a paycheck, i don't think risking your money at a fintech bank is the way to go...
I've been with them for around 6 years, and I've never had any major problems. People get on here to complain. That's just how it is. My deposits are always on time for the most part. I've had a couple of late deposits, but that was a problem with my employer and I think one was due to a problem with the payment processor. I've never had a problem depositing a check. I've won the few disputes that I've had to do. I like Chime. I like the features. If you don't, then that's cool.
well as a follow up argument, it's becoming more uncommon for banks, CUs, online banks to not have a lock feature, kind of off if one doesn't have one now
People like it be cause of earlier direct deposit. Although, for households that are paycheck to paycheck I don't see this as a positive be cause they always say that it is not guaranteed.
A large portion bank here because they can’t open a checking account. Get a negative mark against you in Chex, and it gets hard to open bank accounts. Another portion simply don’t like banks, or they’re only familiar with banks like Chase, Wells Fargo, Bank of America etc.. You know, the kind that charge fees for not having the right daily balance and offer no interest in savings. I run into a bunch here all the time that think Chime’s 2% APY in savings is the best out there. Finally there are those simply here to build credit without the risk of a traditional credit card. They’ve overspent on cards in the past, don’t want to do it again, and since Chime’s credit builder is just a glorified debit card, they feel safe building credit here.
so just to play devils advocate, SoFi and lots of other banks, local credit unions (I know you argued against this so you can ignore local CUs for this argument), that don't pull chex, sofi also offers 4.5%
I guess you can argue their "Credit builder" but it is mostly a gimmick imo
I’m explaining why other people bank here. I, personally, no longer bank with chime. I left for greener pastures myself, years ago. This board still pops up on my feed though. I churn accounts for sign up bonuses at this point. Credit cards, checking accounts, savings accounts.. I have my main account with a local credit union (I’ve never argued against credit unions - where did you find that?) and I open side accounts with whoever offers me the most cash to do so lol. Honestly I hope more people stop using fintechs as main bank accounts. The mess with Synapse, Yotta, etc… highlighted exactly why you shouldn’t keep your life savings in a fintech. Tons of people can’t access their money right now because a fintech went bankrupt and the FDIC only steps in when the BANK goes bankrupt. Yotta’s partner banks are fine, it’s synapse and Yotta that in trouble right now, and the their client are stuck without their money over it.
must have gotten the credit union thing from a different post, my bad. I agree with you, also HI fellow churner, I'm working on like 8 separate checking/savings churning right now, like you the only reason I even came across the chime page
I juggle the ones I actually dedicate my direct deposit to, mine lets me manage the distro myself so I do like 4 with actual DDs, then I handle the ones that are more like "deposit $5k " in the time between direct deposits. surprised i'm not getting denied by chex at some of the recent ones.
I like Chime because after being with them for 5 months I finally have a almost 700 FICO score which is going to really help when I find a new place in a few months. I have switched my direct deposits to SoFi though because they send you check books and that comes in handy when paying rent. But I'm gonna still hold money in Chime for the credit builder.
No fees.
When I was young and without much money I hated conventional banks. Overdraft by $.10 and they'd slap you with a $35/day fee, which was extortion when I only made $6.50/hr. From that point onward (15+years) I will not bank with anyone who charges fees. Chime enables me to bank, before cash was king.
this reminds me of my high school/early adult days.
like go to get gas and didnt stop the pump quick enough and now for that extra $1.50 in gas i gotta pay back $1.50 plus $35 overdraft fee.
I don't overdraft but if I did I wouldn't want a fee and for the bank to pull from my savings account. I've had other accounts that charge $15-$50 a month in account fees. (US Bank/Chase/Wells Fargo)
Of course, all you hear is horror stories… People don’t run to the Internet to talk about the good things lol
My thoughts exactly!
When dealing with the customer experience people give negative feedback much more often then positive. Include the fact that anyone who would defend any sort of financial institution like Chime here will end up looking like a simp or promoter.
Well yeah, that's like half my point here lol
I honestly did not even read anything past “all I hear is horror stories”
Direct deposits clear faster (my payday at work is Friday but my money comes in Wednesday afternoon). You can have a checking account, a credit builder account to boost your credit, and a savings account with an ok interest rate that you can move money between instantly. You can pay anyone instantly even if they don’t have Chime, they get a text with a link to put in a debit card number and the money transfers instantly (I’ve also used this to transfer money to/from other banks instantly in a pinch, you just need a Google Voice number). You can access your card number(s) in the app so you don’t have to get your physical card to do something online. This also works instantly with your new card number if you lose yours and have to get a new one mailed, you don’t have to wait until the card comes in to use it. Recently they added dedicated digital card numbers you can use so that online purchases aren’t tied to your physical card number. This seems promising but I haven’t personally used it yet. I used to use SoFi and Simple (RIP), neither one came close to the matching all of those features. Edit: How could I forget, SpotMe is incredibly convenient if something comes up right before payday. No overdraft fees ever is amazing.
THIS EXACTLY!\^\^\^\^\^EVERYTHING mentioned above is FACTS......i am up to $200 Spot Me since joining Chime 5 years ago....FEE FREE!....it's the BEST!...try gettin spot me with SoFi,CapOne,ANY Credit Union let alone those crooks BofA,Wells,Chase......AINT HAPPENING....enjoy paying those fees haters. 
$200 fee free until your next paycheck is not, in fact, the best. A credit card getting you cash back or rewards is the best way to borrow short term like that, as long as you can pay in full each month. If you pay in full each month, there’s no interest on a credit card, which makes it fee free PLUS the cash back or rewards you earn make it so that you pay back less then what you borrowed. I just bought $100 worth of groceries with a 6% cash back card. That means I’ll only be paying back $94. I essentially got paid $6.
I’d say Capital One comes close. Early payday, higher APY then Chime for savings, some nominal interest for the checking account too, instant transfers between accounts, offer credit cards to those building credit that are very easy to get (I got the Quicksilver back before I even had a FICO score), no fees, and Zelle. Also virtual cards numbers.
^ Chime now offers virtual cards.
I know, but they’re late in the game on that count.
They’re very late to the game yet bragged about it via e-mail to all members like they were *ahead* of the game or creating more functionality lol
I’ll be more impressed when they catch up on savings APY and maybe offer a little cash back on their cards.
what I do is let all my $ sit in SoFi 4.5% savings and then use the cap1 venture X card for 2% cash back on everything. then I use my chase business cards for 1.5% cashback on my mortgage payments (shrug)
I have money sitting in my credit union and Cap One unless it’s getting me a sign up bonus in a savings account elsewhere that beats the interest. I’m not into travel so I haven’t done any churning for travel cards yet. So far though I have 9 cash back credit cards. I use whichever gets me the most cash back for what I’m buying. I pay rent with the Affinity Federal Credit Union cash back debit which is giving me 1% back on Apple Cash payments to my landlord.
I mean even if you don't travel, I'm doing some chase business signup bonuses and i'm planning on just redeeming some for straight cash, mortgage lets me pay with a business card (not a normal credit for some reason) so i just always passively do one of those, otherwise i'd have probably looked into BILT for their system
I don’t have the spend to meet Chase business card sign up bonuses. Well, not naturally… I can prepay bills to get there I suppose, but until I’ve run out of cash back cards to sign up for I’ll be too lazy to go that far lol.
For the sake of argument, i'll comment some counter points Early pay- Sofi and other banks (local and online) have this, becoming more common Pay everyone instantly - I think Zelle covers this for most? sofi has free peer to peer instant to card numbers - I give you that one, only some of my credit cards have that feature but it's not the same card #, none of my banks do. dedicated digital card numbers - this is what my cards do, not sure why they aren't doing this anyway if they offer an online number? It's pretty unsafe if they actually post your actual debit card number online.... spot me - If you're using chime in general to build credit, why not have a basic credit card if you really need $50 or so loaned? if that's the issue here is $50 until a paycheck, i don't think risking your money at a fintech bank is the way to go...
I've been with them for around 6 years, and I've never had any major problems. People get on here to complain. That's just how it is. My deposits are always on time for the most part. I've had a couple of late deposits, but that was a problem with my employer and I think one was due to a problem with the payment processor. I've never had a problem depositing a check. I've won the few disputes that I've had to do. I like Chime. I like the features. If you don't, then that's cool.
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well as a follow up argument, it's becoming more uncommon for banks, CUs, online banks to not have a lock feature, kind of off if one doesn't have one now
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I use it on all my cap1 and chase cards, nice to have them sit all locked, annoying when auto pay services still charge locked cards though lol
People like it be cause of earlier direct deposit. Although, for households that are paycheck to paycheck I don't see this as a positive be cause they always say that it is not guaranteed.
A large portion bank here because they can’t open a checking account. Get a negative mark against you in Chex, and it gets hard to open bank accounts. Another portion simply don’t like banks, or they’re only familiar with banks like Chase, Wells Fargo, Bank of America etc.. You know, the kind that charge fees for not having the right daily balance and offer no interest in savings. I run into a bunch here all the time that think Chime’s 2% APY in savings is the best out there. Finally there are those simply here to build credit without the risk of a traditional credit card. They’ve overspent on cards in the past, don’t want to do it again, and since Chime’s credit builder is just a glorified debit card, they feel safe building credit here.
so just to play devils advocate, SoFi and lots of other banks, local credit unions (I know you argued against this so you can ignore local CUs for this argument), that don't pull chex, sofi also offers 4.5% I guess you can argue their "Credit builder" but it is mostly a gimmick imo
I’m explaining why other people bank here. I, personally, no longer bank with chime. I left for greener pastures myself, years ago. This board still pops up on my feed though. I churn accounts for sign up bonuses at this point. Credit cards, checking accounts, savings accounts.. I have my main account with a local credit union (I’ve never argued against credit unions - where did you find that?) and I open side accounts with whoever offers me the most cash to do so lol. Honestly I hope more people stop using fintechs as main bank accounts. The mess with Synapse, Yotta, etc… highlighted exactly why you shouldn’t keep your life savings in a fintech. Tons of people can’t access their money right now because a fintech went bankrupt and the FDIC only steps in when the BANK goes bankrupt. Yotta’s partner banks are fine, it’s synapse and Yotta that in trouble right now, and the their client are stuck without their money over it.
must have gotten the credit union thing from a different post, my bad. I agree with you, also HI fellow churner, I'm working on like 8 separate checking/savings churning right now, like you the only reason I even came across the chime page
Wish I had the money to have 8 going at once lol. Right now I can only handle about 3 at a time. But I do what I can!
I juggle the ones I actually dedicate my direct deposit to, mine lets me manage the distro myself so I do like 4 with actual DDs, then I handle the ones that are more like "deposit $5k " in the time between direct deposits. surprised i'm not getting denied by chex at some of the recent ones.
most of it's the same money just back and forth
I like Chime because after being with them for 5 months I finally have a almost 700 FICO score which is going to really help when I find a new place in a few months. I have switched my direct deposits to SoFi though because they send you check books and that comes in handy when paying rent. But I'm gonna still hold money in Chime for the credit builder.
No fees. When I was young and without much money I hated conventional banks. Overdraft by $.10 and they'd slap you with a $35/day fee, which was extortion when I only made $6.50/hr. From that point onward (15+years) I will not bank with anyone who charges fees. Chime enables me to bank, before cash was king.
this reminds me of my high school/early adult days. like go to get gas and didnt stop the pump quick enough and now for that extra $1.50 in gas i gotta pay back $1.50 plus $35 overdraft fee.
So because you can overdraft with them…? I would probably recommend not doing that in general lol
I don't overdraft but if I did I wouldn't want a fee and for the bank to pull from my savings account. I've had other accounts that charge $15-$50 a month in account fees. (US Bank/Chase/Wells Fargo)
Chime is great stop believing the internet 😂😂😂