![]() The Chime savings account has a solid APY of $0 on deposits and doesn’t require you meet any minimum opening deposit requirements to open your account. If you need help building a stronger credit history, Chime offers a secured credit card product that can help you make progress on the credit front. You can also use automatic savings tools so you can take greater advantage of the 2.00% APY you earn on savings deposits. Want to skip traditional banking fees? With Chime, you won’t ever have to worry about monthly maintenance or overdraft fees, and they make it fairly easy to avoid ATM fees as well.Ĭhime’s app-based platform makes it possible to manage your financial life from your phone, which can be very convenient. However, in exchange for giving up access to a pricey branch location, you can enjoy higher deposit rates and fewer fees.įounded in 2013, Chime garnered attention for its modern approach to banking solutions, especially among younger customers. Because Chime only offers financial services online, you can’t visit a branch location if you want face-to-face help. You can open a checking account, savings account, or secured credit card with Chime. It’s important to note that Chime is a neobank, which means it partners with Bancorp Bank, N.A. If you’re searching for a new online bank, you may want to check out Chime. ![]()
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