Chime is a greta service, but if you are just getting started, it can be confusing how to use it. We researched everything and compiled it into this easy to follow guide.
Chime is a mobile only bank that is revolutionizing the way people bank. The Chime website and app are mostly used by young people but the online bank's advantages can be utilized by anybody.
Chime has to be the best bank to have a free savings and checking account since the bank has no monthly fees, transaction fees or overdraft charges. You can almost set your account on autopilot and watch as the money comes in.
On the contrary, no fees mean extremely low interest rates. Cash deposits into chime are also somewhat expensive and quite strenuous I must say.
Receiving money on Chime from another account or bank is very possible. Unfortunately, Chime does not allow users to make wire transfers to their Chime account. However, receiving money on Chime from any other external source is possible.
The process through which you can receive money in your Chime spending account from an external account is as follows:
There are certain conditions to receiving money from Chime. Some of the conditions include a maximum transfer limit of $200 a day and $1,000 a month.
Once you make the transfer, it should reach your Chime account within 5 days. For the list of banks that you can transfer funds to Chime, check Chime's website. Most of the banks will allow you to make the transfer directly from the bank's website.
Once you have the money in your account, you may want to withdraw it. The good news is that Chime has over 38,000 free withdrawal ATMs all over the United States. To find a Chime ATM nearby, use the Chime mobile app or website's ATM finder.
You can withdraw up to $500 a day from any of the Chime ATM network. You do get charged $2.50 for every withdrawal made from an ATM outside the Chime network. The ATM may also have additional charges which the bank will make at their discretion.
Newer versions of the app will also enable you to find locations of major retailers all over the country where you can receive cash back for using your Chime account or card for purchases. The maximum cash back amount depends on the merchant. Grocery stores can give as much as $100 cash back for using the Chime Card at their establishment while other retailers typically give $40 cash back. There is a minimum purchase amount that varies from merchant to merchant for you to receive the cash back.
Over the counter withdrawals are also common with Chime users. You can withdraw cash from Chime using your Chime Visa Debit Card at a bank or credit union. Over the counter withdrawals from chime have a $2.50 withdrawal fee.
It is paramount to note that you cannot withdraw money from your savings account at an ATM. Therefore, you will have to transfer the funds to your spending account. You can make up to 6 such transfers per month.
The process of making the transfer is as follows:
If you have any problems transferring funds or withdrawing money from an ATM, contact Chime's customer service department whose information can be acquired from GetHuman.
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