Chime App Bank Review

Chime App is a solid bank account, there are some things you need to know about Chime App Bank, and I will tell you what you need to know about it.

Chime mobile and web apps are just phenomenal and it’s easy to use and intuitive, chime is one of the online banks where you can deposit cash into your account for free so most online banks won’t allow you to deposit cash.

Sofi will allow you to deposit cash at places such as Walgreens but you are going to be charged a 4.95 fee so if you want to deposit a couple of $100 pay $5 for a fee to deposit that doesn’t make a lot of sense with chine you can go to Walgreen and not pay anything deposit but one thing to keep in mind the daily limit is $500 so if you are going to deposit more than $500 you will have to make several trips or if that will be something that happens frequently I would recommend going with a bank that has physical branches near you.

READ ALSO: Direct Lender No Credit Check Loan Guaranteed Approval

If you are looking to get cash out of your account there are over 60,000 free ATMs and they are really easy to find through the mobile app. You can get laid up to 2 days early with a direct deposit but this is going to vary depending on your direct deposit provider.

Chime App will never charge you an overdraft fee but if you have a direct deposit setup you get an additional feature called SpotMe, where they will give you $20 up to $200 in addition to credit essentially so you can overdraft your account by up to $200 there won’t be any fee for this or interest charged on the overdraft amount.

There are several automatic saving tools for example you can automatically add 10% of your direct deposit into your saving account, also they have a roundup feature so if you end up using your debit card for purchase and have roundups on.

READ ALSO: Cup Loan Program Reviews

You can easily pay anyone they don’t have to have a Chime App account also if you have payments such as rent that need to be paid via cheque chime will mail that cheque for you.

If you are in the process of building your credit you may want to check out the Chime credit builder card I haven’t used it personally yet but if you want me to do a review of this card write credit builder down below in the comment and I will gladly create the post.

Chime App has a lot of features you might be looking for in a bank but there are a few areas where they can improve the first area is interest rates on their saving account currently 2% some banks are paying over 4% so double the rate that you would earn with your chime savings account.

Another thing I don’t like about Chime is you don’t earn any interest on your checking account yes this isn’t a common feature but again with Sofi if you have a direct deposit setup you could earn 2.5% on your checking account balance and without direct deposit it would be 1.2%.

READ ALSO: Earnin Loan Review, Truth About The Loan App

So if you have some money in your checking account throughout the year that is going to add up over time somewhere like Sofi versus you will earn nothing ain’t Chime. Then another saving account is you can’t save for individual goals.