Is Chime a legit bank?

Let’s start there. Chime isn’t a bank in the traditional sense. It’s a financial technology firm which offers banking services. It’s still covered by FDIC insurance, so it’s safe to say Chime is legitimate - and your money is as secure there as it would be in any regular bank.

What should I know about the chime checking account?

There are a few things to know about the Chime Checking Account. First, you can only use USD. You receive a notification every time money is spent, ensuring the safety of your bank account. If you suspect something is off with your spending account, you can instantly deactivate it through the Chime app.

Does chime have a debit card?

If you open a Chime Spending Account, you’ll get a linked Visa debit card to make it easy to access your funds. There is also a Chime card attached to the Credit Builder Account. This is a little different though.

What is the difference between chime & Ally Bank?

Chime and Ally offer comparable interest rates. The Ally Bank Interest Checking account pays 0.10% annual percentage yield (APY) on checking accounts with less than a $15,000 minimum daily balance, and 0.25% APY for accounts with minimum daily balances of $15,000 or more and the Ally Bank Online Savings Account pays an APY of up to 3.75%.