Reviews of the Chime Savings Account in the year 2023.
Outstanding Features of Chime Savings Account
Chime Savings Account is a highly recommended option for those looking for a reliable savings account. The account comes with various unique features that make it stand out in the market. Here are some highlights of the account:
- - Community Rating: Most reviews praise the Chime Savings Account.
- Monthly Fee: The account has no monthly fees. You don't have to worry about paying any fees regularly.
- APY (Annual Percentage Yield): The account offers 2.00% APY, which is much higher than average interest rates for savings accounts.
- Minimum Balance to Earn APY: There is no minimum balance required for earning APY.
- Number of Reviews: The account has been reviewed by 30 users.
Chime Savings Account Review
Chime Savings Account is a product of Chime®, a popular non-banking financial services provider based in San Francisco, CA. The account is made possible through a bank partnership with The Bancorp Bank or Stride Bank, N.A., ensuring that it is FDIC insured. The account is available in all states, including Washington, DC.
Key Benefits
- High APY: The account offers an impressively high APY of up to 2.00%.
- No monthly fees: You won't be charged any monthly account fees.
- No minimum initial deposit: There is no minimum balance required to open an account online.
Chime Savings Account Pros & Cons
Pros:
- - The account is available in all states
- - High variable APY*
- - Free debit card
- - Access to a nationwide network of ATMs
- - No charge on incoming domestic or international wire transfers
- Cons:
- - No signup bonus
- - Online-only account with no access to physical branches.
- Chime Savings Account FAQ
- Are Chime Savings Account deposits federally insured?
Yes. Your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC) through The Bancorp Bank or Stride Bank, N.A.; Members FDIC. The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Chime® offer a signup bonus?
No. Chime Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Chime savings account?
There is no minimum deposit requirement to open a Chime savings account.
What APY* does Chime Savings Account offer?
Chime Savings Account offers an APY of 2.00%, which is higher than the typical APY for online-only savings accounts, which is around 1% APY. The rates may change.
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