Is Chime a bank?

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 We’ll spot you up to $200 on debit card purchases with no overdraft fees. Eligibility requirements apply. 1 Set up direct deposit and get your paycheck up to 2 days earlier than some of your co-workers! 2

Is Sofi a chime bank?

SoFi offers a comprehensive suite of banking products and financial services, including: Unlike Chime, SoFi is a chartered bank, which allows it to lend at more competitive rates and provide higher yields on savings and checking accounts. SoFi members with direct deposit can earn above-average APYs on their savings and checking balances.

Is Chime a fee-friendly checking account?

The Chime® Checking Account is fee-friendly. For example, when you enroll in Chime’s SpotMe service, you can overdraw your account by up to $20 on debit card purchases without a fee. A single deposit of $200 or more in qualifying direct deposits is required each month to be eligible for this feature.

Are chime accounts regulated by Bancorp & stride?

Bancorp and Stride, the banks behind Chime, are required to treat Chime accounts in accordance with the same regulation as if the end user had walked into Bancorp or Stride directly to open an account.