With a ton of finance companies offering multiple products, it can be difficult to determine which one is best for your personal financial needs. But among the many financial service options available today, Chime has proven to be a popular choice for many clients.
This is the reason why there are so many Chime reviews on the Web. However, before opening an account with Chime, it’s a good idea to go through these reviews online to know what you’re getting into.
However, since it is not possible to read all the reviews available on Chime, we have put together a detailed summary of the most useful Chime reviews and opinions for you. In this article, we’ll answer the most frequently asked questions about Chime.
What is the chime?
Carillon is an online-only financial company that partners with Stride Bank and The Bancorp Bank to offer their savings and checking accounts. Although Chime differs from your traditional neighborhood bank, the accounts it opens for you with its partner banks are still insured by the Federal Deposit Insurance Corporation (FDIC). This makes Chime a safe place to store your savings.
Chime’s checking account, known as the expense account, does not charge any monthly account fees and does not require you to have a minimum balance. If you deposit or receive direct deposits of at least $ 200 per month, you can sign up for Chime’s SpotMe service.
This optional service allows you to overdraw your checking account up to $ 200 on free debit card purchases.
Chime’s High Yield Savings Account offers an Annual Percentage Return (APY) of 0.50%. This account also does not require a minimum balance and does not charge any monthly fees. Plus, there is no limit on the amount of interest you can earn with your savings, as long as you have money in your account. However, to open a Chime savings account, you must already have a Chime spending account.
Thanks to Chime Save when you spend feature, you can save small amounts when shopping. Each time you use your Chime debit card, Chime rounds your transaction to the nearest dollar and transfers the rest to your savings account.
Chime is mainly used through its mobile app and therefore offers a ton of features that make mobile banking convenient. Chime’s mobile app is popular and highly rated by its users, with a rating of 4.6 out of 5 on Google Play and 4.8 out of 5 stars in the Apple Store.
The Chime app also sends transaction alerts and daily account balance notifications every time you make a purchase. You can deactivate transactions from your account from the mobile banking app. This saves you the trouble of making a customer service call, especially if you’ve misplaced your debit card. Additionally, you can choose to turn off international transactions through the Chime app.
Can you get ripped off on Chime?
Chime has implemented several security measures and is committed to protecting its customers from online scammers, it continues to warn its customers against sharing their banking information with strangers or people they don’t know. or who they don’t trust.
The sad reality is that in today’s digital world, the biggest risk of compromising your financial information with cyber attackers often comes from you. This is why Chime seeks to educate its customers on the many ways they can be scammed online.
How Chime Protects Your Savings Account From Scammers
There are several ways to recognize scammers online before they take advantage of you. For example, if you see an ad on Facebook or Instagram with the words “free money”, pictures of large amounts of cash and luxury items, and references to Chime “representatives” or “ambassadors”, be aware that this is a scam, and you should continue scrolling.
Chime advises its customers to be wary of people asking for their full social security number, PIN, username, credit or debit numbers, password, or money in exchange for the services. “Chime” – these are all online crooks.
In addition, Chime has assembled a team of highly qualified experts to ensure the safety of its customers. These experts keep abreast of the latest threats in the world of financial technology so that they can easily protect themselves, identify and resolve any threats that may arise.
In addition, the mobile banking app has implemented a robust and market-leading security infrastructure, based on the cloud infrastructure used by other leading financial institutions, government agencies and technology companies.
Is Chime Bank Legitimate?
It’s critical to note that while Chime is a FinTech company, it is not a bank. It partners with various banks, including Stride Bank and Bancorp Bank, to provide reliable and legitimate banking services. In addition, thanks to its partners, Chime accounts are fully insured by the FDIC.
In addition, Chime debit cards work efficiently wherever Visa cards are accepted; thus, you don’t have to worry about the legitimacy of Chime. Additionally, you can link Chime’s debit cards to Google Play or Apple Pay for easier use.
A ton of personal reviews on the internet confirm Chime’s legitimacy, with many customers expressing their happiness with the mobile banking app after years of use.
For example, on April 21, 2021, Jeremy from Plano, Texas posted a Chime reviews on consumption describing some of the exceptional services offered by Chime:
Jeremy wrote, “Direct deposit, mobile verification… etc, you have to verify it. Chime has everything you need! Quick response time on balance information. Excellent customer service. Cash in at any 7-Eleven and load it at 7-Eleven.
On October 5, 2020, Dustin N. from San Diego, Calif. Posted another excellent review on Chime on Consumer Affairs, describing some of the outstanding services offered by the institution:
Dustin wrote: “I have been using Chime for about four years and have used almost all of their features. Direct deposits have always been reliable, and spending with the Visa card is safe and easy to use. You can block the card using the app if you lose it, and ordering a replacement card is free if it does not show up. Recently someone got my account information and debited about $ 2,100 from my card. Chime honored Visa’s 0% liability promise, and within a week the money was back in my account.
Can you trust Chime?
Chime is a trusted personal banking platform that you can trust to protect your money. Using the Chime mobile app, you can enable push notifications to receive daily account balance information and transaction alerts whenever you make a purchase with Chime.
In addition, the mobile banking app allows you to deactivate your card directly from the Chime app, which is very handy if you suspect that there has been fraudulent activity on your account.
Chime has garnered positive reviews on review aggregation websites such as the Apple Store, Google Play Store, and Trustpilot from many of its long-time customers. Additionally, user reviews across the web all praise Chime’s functional layout, reliability, painless transactions, and excellent customer service.
Is the FDIC chime insured?
Accounts with Chime are insured by the FDIC through its partner banks, Stride Bank and Bancorp Bank, both FDIC insured. So, yes, every Chime account is FDIC insured through its partner banks.
Insurance covers up to $ 250,000 per account in the event of Chime failure, keeping your money safe in the event of a problem beyond your control. This means that as a Chime customer, you can have peace of mind knowing that a trustworthy financial entity is backing you and your money is safe.
Is the chime safe?
Without a doubt, Chime is a safe place to keep your funds. Many people may be apprehensive about handing over their savings to a fully online financial company. By not being able to set foot in a traditional branch, some people fear that their money could be stolen by identity theft more easily than in a physical bank.
However, thanks to the numerous security measures implemented by Chime, it is safe to use. All of these security features help protect against identity theft and limit fraudulent activity on your account.
If someone makes unauthorized purchases with your Chime debit card or steals your Chime debit card details, don’t be too concerned as all Chime debit cards are protected by Visa’s zero liability policy. This means that you are not responsible for purchases made with your debit card when your card information is stolen or if you lose your card.
In addition to this, any financial data or personal information you provide to Chime is encrypted to protect your sensitive data. This means that potential cyber attackers and third parties cannot access your personal information, making it nearly impossible for anyone to steal your Chime account information, commit identity theft, or sell your data to others. ‘other companies.
Final thoughts on Chime’s reviews
Like most fully online businesses, Chime is able to direct the money saved from a physical location to upgrading its infrastructure and services to ensure that all of its customers have the great banking experience they have. they deserve.
Additionally, Chime has continued to improve its security procedures and measures and is working diligently to educate its clients on how best to protect their financial information and accounts from fraud.