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Chime Bonus Offers Of November 2024: Sign-Up, Referral Bonus
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Chime® is a fintech company that says it was founded on the idea that basic banking services should be "helpful, easy and free." The company's flagship offering is a mobile-first online checking account that comes with a Visa debit card, fee-free access to tens of thousands of ATMs and no monthly service fees.
Chime welcomes new account holders and relies on its existing customers to help bring them in. You can earn a $100 welcome bonus if you have a family member or friend who can make the introduction, and that person can collect a similar referral bonus.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. Or Stride Bank, N.A., Members FDIC. Deposits are insured up to $250,000.
How Can You Earn a Chime Sign-Up Bonus?Pocketing a Chime sign-up bonus takes just a few steps. To qualify, you must:
Here is the current cash bonus offer available to new Chime customers. Details are accurate as of November 1, 2024.
Chime Promotion for 2024 Chime Checking Account: Earn Up to $100Chime focuses on providing low-cost basic banking services through its mobile app. With a Chime Checking account, you pay $0 in monthly maintenance fees, and there are no late fees or minimum balance requirements.
Chime is a fintech company that offers its services exclusively through a mobile app. If you prefer to do all your banking via your smartphone, Chime may be a good fit.
But if you want in-person service, check-writing privileges and the ability to take out a mortgage or auto loan where you bank, Chime may not be for you. You'll want to supplement Chime with an account at a traditional bank—or do all your banking somewhere else.
While it doesn't have branch locations, Chime does offer a broad network of more than 60,000 fee-free ATMs at stores including Walgreens, 7-Eleven, CVS and Target. It also boasts that it's able to offer customers access to direct-deposited paychecks up to two days early².
Your Chime Bonus May Be TaxableBank account welcome bonuses are generally considered taxable interest income and are reported to the IRS. Chime will report any credit greater than $10, including your welcome bonus, to the IRS on a form 1099-INT.
Chime's Referral Bonus Includes an Overdraft Protection OfferIf you're a Chime account holder and you refer a new customer, you can earn not only a $100 referral bonus but also a Chime $10 sign-up bonus of sorts.
You'll score a temporary increase in overdraft protection through the company's "SpotMe®"³ service. SpotMe is an optional feature that initially allows you to overdraft your Chime account by up to $200 on debit card purchases and cash withdrawals.
Over time, your SpotMe coverage can be boosted to $200 or more based on your account history. When you refer a friend who signs up with Chime, your SpotMe limit grows by $10.
Chime Sign-Up Bonuses Are for New CustomersTo receive a Chime new account bonus, you must not have previously opened a Chime checking account.
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Chime® Checking Account
Minimum Deposit Requirement
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Chime® Checking Account
Bottom Line Chime's mobile-first, low-fee banking solution is designed for customers who need a bank account and want to manage it exclusively through a mobile app. The current Chime welcome bonus provides a modest incentive to open a Chime account. If you're looking for a more traditional bank account and a bigger bonus, take a look at our list of the best bank bonuses.
¹Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member's direct deposit enrollment status.²Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally makes these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.³Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
Find The Best Bank Bonuses & Promotions Of 2024
Chime Promotions Of November 2024
If you're thinking about opening a new Chime® account, you may be able to earn a cash bonus if you use a friend's referral link. Existing customers can earn a bonus by referring a friend.
Still, a promotion shouldn't be the only reason you open a bank account, so make sure the account itself meets your financial needs.
Account details and annual percentage yields (APYs) are accurate as of Oct. 31, 2024.
Chime® promotions overviewYou can get a bonus from Chime in one of two ways: You can refer a friend to Chime, or you can join Chime via a friend's referral link.
Chime: Get a $100 bonusChime is offering a $100 bonus for those who refer friends to Chime and those who join by referral. In other words, if you refer a friend to Chime, you and your friend can both receive the $100 bonus.
Chime offers two primary banking products: checking and high-yield savings. The fintech company also offers a secured credit card. You need to open a Chime® Checking Account before you can open a Chime® High-Yield Savings Account.
Aside from the $100 bonus, Chime's checking and savings accounts have plenty of attractive features. Chime's checking account has no monthly fees, overdraft fees or minimum balance requirements. Customers who qualify can get up to $200 in SpotMe® overdraft protection¹. And you can use your Chime debit card for free at more than 60,000 ATMs².
Chime Savings earns a yield of 2.00%³; not the highest available from the best online banks, but still well above the national average. Like Chime Checking, this account has no monthly fees or minimum balance requirements. It also comes with automatic savings features you can use to save a percentage of each paycheck⁴.
How to qualifyYou can qualify for the $100 Chime bonus in one of two ways. If you're an existing Chime customer, you can refer a friend to open a new Chime account. If you're a new customer, you can open an account using someone else's referral link.
To qualify for the bonus as the referrer, the following needs to happen:
As the referrer, you can earn up to a maximum of $1,000 in monetary referral rewards per calendar year.
You can get your personalized referral link in the Chime app. Click on the gear to open the settings and then select "Invite Friends, get paid." You can share this link via email, text or on social media.
To qualify for the bonus as the person being referred, you must do the following:
As the referred party, you can't qualify for the bonus if you've previously had a Chime account.
It's also important to know how Chime defines "qualifying direct deposit⁵." Qualifying direct deposits include those from your employer, payroll provider, gig economy payer or benefits payer by Automatic Clearing House (ACH) or Original Credit Transaction (OCT).
Account feesChime's checking and savings accounts have minimal fees. Neither account has monthly maintenance fees. The only fees associated with these accounts are out-of-network ATM withdrawal fees, which cost $2.50 per transaction and third-party ATM fees, which vary².
Expiration dateThere is no posted expiration date for Chime's $100 referral bonus.
How Chime promotions compareNot all banks offer a sign-up or referral bonus, so Chime's $100 bonus — with the ability to earn up to $1,000 in monetary referral rewards per calendar year — is significant. As the referrer, though, getting your referral bonus isn't totally within your control. You'll only get it if someone uses your referral link to open a new Chime account and receives a single qualifying direct deposit⁵ of at least $200 within 45 days from account opening.
Other banks' bonuses may offer higher cash values or be easier to get — without needing to rely on referrals. For example, Chase Bank offers the following bonus for opening a new Chase Total Checking® account: Earn a $300 bonus after opening a new Chase Total Checking® account and setting up a qualifying direct deposit of $500 or more within 90 days of account opening. And, SoFi offers the following bonus for opening a new SoFi Checking and Savings Account: Earn a $50 to $300 cash bonus after opening an account, depending on the direct deposit amount within a 25-day evaluation period**.
Other banks that offer similar referral bonuses include Chase and Axos Bank. But these two banks only offer $50 per referral, compared to Chime's $100. Note that referred Axos customers must receive $1,000 in direct deposits within 90 days of account opening in order for you to receive your referral bonus — but the amount of referral bonuses you can earn is unlimited. Chase, on the other hand, limits the amount of referral bonus you can earn to up to $500 per calendar year, and the qualifying activities your friend needs to complete depends on which account they open.
Chime reviewChime is a financial technology company based in San Francisco. As such, Chime doesn't have any branches and limits its products to online-only accounts. Chime offers three major products: A savings account, a checking account and a secured credit card.
Chime's products charge few fees, are accessible at more than 60,000 fee-free ATMs² and come with several helpful features, such as fee-free overdrafts and automatic savings tools. While it doesn't offer peer-to-peer (P2P) lending, Chime does have a payment feature called "Pay Anyone" — which allows members to send money instantly to anyone, whether they are a Chime member⁶ or not⁷, without any fees.
Chime Savings only earns 2.00% APY³ — which isn't bad, but the best high-yield savings accounts and CDs earn much more.
If you want a simple, user-friendly bank account with few fees, Chime delivers. But if you're looking for in-person banking, the highest savings rates, or additional services like loans or brokerage accounts, you may want to look elsewhere.
Frequently asked questions (FAQs) Is Chime a bank?No, Chime isn't a bank — it's a financial technology company. It offers bank products by partnering with other banks, like The Bancorp Bank and Stride Bank, which are FDIC-insured.
How long does it take to receive the Chime promotion?According to Chime, you'll typically receive your bonus within two business days after all the qualifying conditions are met.
What is the Chime promo bonus?Currently, Chime is offering $100 to anyone who signs up for a new Chime account with a referral link and receives a single qualifying direct deposit⁵ of at least $200 within 45 calendar days of account opening. The person who makes the qualifying referral receives a $100 bonus, too — but you can only receive up to $1,000 in monetary referral rewards per calendar year.
*Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. Or Stride Bank, N.A.; Members FDIC. The secured Credit Builder card issued by Stride Bank, N.A.
¹SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime® Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
²Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
³The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
⁴Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
⁵The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
⁶Funds are automatically debited from your Checking Account and typically deposited into the recipient's Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
⁷Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
**New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.Com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.20% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/31/2024. There is no minimum balance requirement. Additional information can be found at http://www.Sofi.Com/legal/banking-rate-sheet/.
Emily Batdorf is a freelance personal finance writer specializing in banking, personal loans and debt payoff. With a background in education, Emily loves creating accessible content that helps readers make informed financial decisions. Her work is featured on sites like Forbes Advisor, MarketWatch and Yahoo! Finance.
Ashley Barnett has been writing and editing personal finance articles for the internet since 2008. Before editing for USA TODAY Blueprint, she was the Content Director for an international media company leading the content on their suite of personal finance sites. She lives in Phoenix, AZ where you can find her rereading Harry Potter for the 100th time.
Former lead editor, Banking
Taylor Tepper is the former lead banking editor for USA TODAY Blueprint. Taylor's former roles include fiance writer positions at Wirecutter, Bankrate and MONEY Magazine. At MONEY Magazine, Taylor led the magazine's coverage of banking, investing and credit cards. Taylor has been published in the New York Times, NPR, Bloomberg and the Tampa Bay Times. His work has been recognized by his peers, winning a Loeb, Deadline Club and SABEW award. Taylor earned an M.A. From the Craig Newmark Graduate School of Journalism at the City University of New York where he focused on business reporting. There he was awarded the Frederic Wiegold Prize for Business Journalism. He earned his undergraduate degree from New York University. Taylor has also completed the education requirement from the University of Texas to qualify for a Certified Financial Planner certification.
Chime Checking Account Review
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