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If you're looking to replace your traditional brick-and-mortar bank, you may have heard about Chime, an online financial technology company. Chime is a popular bank alternative, but you may be wondering if Chime is actually legit. While Chime isn't a bank, it offers online financial services via their partnered banks and is a legitimate financial service. Keep reading to learn more about Chime as well as its features, fees, and a pros and cons breakdown.
Things You Should Know
- Chime is a legitimate financial service, but it is not technically a bank.
- Chime is a neobank that partners with two FDIC insured banks to offer online banking services, but it is not FDIC insured itself.
- Overall many online review aggregators give Chime favorable reviews, but some users have reported recent account closures with no notice.
Steps
Expert Q&A
Tips
References
- ↑ https://www.chime.com/blog/fdic-insurance/#is-chime-fdic-insured?
- ↑ https://www.nerdwallet.com/reviews/banking/chime-banking
- ↑ https://www.fdic.gov/resources/deposit-insurance/faq/
- ↑ https://www.fdic.gov/news/fact-sheets/crypto-fact-sheet-7-28-22.pdf
- ↑ https://www.chime.com/about-us/
- ↑ https://finance.yahoo.com/personal-finance/what-is-neobank-is-it-safe-123234143.html
- ↑ https://www.consumerfinance.gov/data-research/consumer-complaints/search/?date_received_max=2023-07-17&date_received_min=2020-07-17&has_narrative=true&issue=Closing%20an%20account&page=1&product=Checking%20or%20savings%20account&searchField=all&searchText=chime&size=25&sort=created_date_desc&tab=List
- ↑ https://www.propublica.org/article/chime
- ↑ https://help.chime.com/hc/en-us/articles/221405228-Does-Chime-charge-fees