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Banks like Chime

Close alternatives to Chime include SoFi®, Current, Varo, Step and more.

Chime is a fintech company with banking services provided by its partner banks. Chime offers a free checking account, a savings account with up to 2% APY and a credit-building card with no annual fee or interest charges. But it lacks some features like a cashback or points reward program, and you can’t open a joint account or deposit cash.

While it’s a top competitor among online banks and fintechs, other online banks like Chime with different strengths might fit your needs better.

9 online banks like Chime

Alternative for all-in-one

SoFi Checking and Savings

4.5
★★★★★

Finder score

Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until December 31, 2024.
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on SoFi's secure site
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SoFi® is an FDIC-insured online bank with an all-in-one digital account called SoFi Checking and Savings. Similar to Chime, there are no monthly fees, overdraft fees or opening deposit requirements. Chime doesn't offer the ability to open two accounts in one, making a switch to SoFi more streamlined. And unlike Chime's low 2% APY, SoFi allows you to earn up to 4.60% APY on savings by setting up direct deposits or depositing at least $5,000 per month, and you earn 0.50% APY on your checking account. Chime's checking account isn't interest-bearing at all. SoFi also accepts cash deposits, unlike Chime, but you'll pay $4.95 per deposit.
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 4.60% 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 4.60% 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 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Our account fee policy is subject to change at any time.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
See list of participating banks at SoFi.com/banking/fdic/receivingbanks

We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

Alternative for credit building

Current

4.6
★★★★★

Finder score

Get a $50 referral bonus by inviting your friends to join Current. Once the person receives the invite link and makes qualifying deposits of at least $200 within 45 days of opening the account, you and the referred friend each earn $50
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Current is a fintech with banking services provided by Choice Financial Group and has very similar offerings to Chime. When you get a Current account, you can choose between a credit-building secured card or a debit card. Both cards come with an account offering a rewards program, no monthly fees, fee-free overdraft and budgeting features. Create up to three pods that can each earn 4% bonus on up to $2,000 by meeting deposit requirements, which is much higher than Chime's savings with a 2% APY. Current also offers Paycheck Advances by meeting deposit requirements with no credit check. And the secured Current Build card has no interest charges or annual fees and reports to TransUnion to help build a credit history.

Alternative for teens

Step Visa Card

4.7
★★★★★

Finder score

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Step is a fintech offering a secured card backed by the Step deposit account. It requires no opening deposit and has no monthly fees or interest charges. Step is heavily designed for teens and young adults to start building a credit history without the risk of accumulating debt, offering anyone under 18 to get the card with adult approval and sponsorship — unlike Chime, which requires you to be at least 18 years old to open its secured card. A Step account also offers up to 5% in savings rewards on your savings balance by meeting deposit requirements, and you can earn cashback rewards, open its optional investing platform and teens can learn financial literacy through its Money 101 course. For comparison, Chime has no cashback rewards, no investing platform and has strict eligibility requirements for its secured card.

Alternative for savings

One Cash

4.8
★★★★★

Finder score

Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer. Get 3% cash back on future purchases up to an additional $50 every year with eligible deposits
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One's online, all-in-one account offers a much higher 5% APY than Chime's 2%. To earn the high 5% APY, you'll have to direct deposit at least $500 per month, or keep an average balance of least $5,000. If you don't meet the requirements, your savings still earns 1% APY. Like Chime, One doesn't charge any monthly fees, and it offers overdraft protection services. One also offers cashback rewards, such as 3% cashback at Walmart up to $50 per year if you meet the same deposit requirements to earn the 5% APY. But similar to Chime, One also doesn't accept joint accounts.
One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
Debit card rewards:
● Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer¹
● Get 3% cash back on future purchases, up to an additional $50 every year, with eligible deposits²
● Earn up to 5% cash back on select brands³
Early Pay: Get paid up to 2 days early. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data.
5.00% APY on Savings with eligible deposits: 5.00% annual percentage yield (APY) applies to the total Savings balance of customers who either (i) received $500 or more of eligible direct deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. Customers can also earn 5.00% APY on Pay Autosave balances without these deposit or balance requirements. In all instances 5.00% APY is limited to a total Savings balance of up to $250,000. All
other Savings balances will earn 1.00% APY. APYs are as of 4/17/2024, but may change at any time before or after account opening.
¹Only available to consumers who open an account through Walmart.com, the Walmart app, one.app, or the One app from 6/10/24 - 8/31/24. Terms apply.
²To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply.
³Cash back can be earned through the Debit Rewards Program. Individual offer details can be found in the One app. Terms apply.

Alternative for college students

Fizz debit card

4.7
★★★★★

Finder score

Earn 1,000 points ($10 value) when you download the Fizz app and enter code FINDER.
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Similar to Chime, Fizz is a fintech company with banking services. Its Fizz-secured card is heavily geared toward college students, and it's backed by an external checking account, making it more like a debit-credit card. There's no APR, annual fees, foreign transaction fees, late fees and, best of all, no credit check when you apply. The cashback rewards are also impressive, offering up to 25% cashback offers daily and sometimes flash offers from 75% to 100% cash back at a monthly rotating list of merchants such as Starbucks, Auntie Anne's and Jamba Juice. In comparison, Chime's secured card requires you to have its checking account and set up direct deposits to qualify. Plus, Chime's card doesn't come with cashback rewards, and you must make a deposit to set the credit limit.

Alternative for rewards

Varo

4.8
★★★★★

Finder score

Existing and new customers get a $25 referral bonus when signing up for a Varo Bank account. T&C apply.
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Varo is very comparable to Chime, but Varo's checking account has a major leg up thanks to its cashback rewards. You'll earn up to 6% in cash back with select merchants, which is unusually high for a checking account. Similar to Chime, Varo's checking account has no monthly fees, opening deposit requirement, overdraft fees or foreign transaction fees. Opening Varo's checking account also unlocks the savings account, which earns up to 5% APY, whereas Chime's savings account only earns up to 2%. Also, unlike Chime, Varo is directly insured by the FDIC and accepts cash deposits for a fee.

Alternative for variety

Axos Bank Essential Checking

5
★★★★★

Finder score

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Chime only has one checking account option, and if you crave variety, look to Axos. This exclusively online bank is directly FDIC-insured and offers five checking accounts, a high-yield savings, a money market account and CDs. The checking accounts all have no monthly fees, a few are interest-bearing and most offer ATM reimbursements. There's also an account for teens and one for seniors. On top of that, Axos frequently offers signup bonuses for various accounts, usually gifting between $50 to $300 for using a promotional code and setting up direct deposit. Axos also has a large ATM network, and you can deposit cash at Green Dot locations for a fee. The downside is that four of the five checking accounts require an opening deposit, whereas Chime doesn't require any cash upfront.

Alternative for budgeting

Dave

4.6
★★★★★

Finder score

Go to site Read review
Like Chime, Dave is an online banking app. It has a few more perks than Chime, with a Spending Account that earns an extremely high 4% APY with no minimums or deposit requirements, cash advances, cashback rewards and budgeting features. There is a $1 monthly membership fee, but the 4% APY on the spend account can more than pay for that. Cashback offers can be as high as 15%, which is very high for a checking account or credit card. Depending on your eligibility, you could get cash advances up to $500 with no fees or interest charges. Chime doesn't offer any cashback rewards or cash advances, and the APY on its savings account is much lower than Dave's 4% APY. But with Chime, there's no monthly fee at all, and Dave doesn't offer a way to waive its $1 membership fee.

Alternative for travelers

Capital One 360 Checking

4.6
★★★★★

Finder score

Read review
Capital One is a hybrid between an online and traditional bank. Its 360 Checking online account is a top option for globetrotters, with no foreign transaction fees or currency transaction fees. You'll also get access to a network of 70,000 ATMs, earn up to 0.1% APY on your balance and enjoy no overdraft fees or monthly fees. While the APY on that account isn't as high as Chime's 2% APY on its savings account, Capital One also offers its 360 Savings account with a 4.30% APY. Overall, Capital One is more like a full-service bank than Chime, offering more products like traditional credit cards, kids banking, loans and CDs, and some physical branches in a handful of states. You can also easily add a joint owner to your Capital One accounts, while Chime offers no joint account options at all.

How Chime compares

Chime has a lot going for it. It offers a no-fee checking account, the well-known overdraft service Chime SpotMe, automatic savings features and more. Chime’s savings account APY isn’t too shabby either, offering up to 2% APY with no monthly fees or minimum balance requirements. Chime Credit Builder secured card has no interest charges, requires no credit check, no APR, and no minimum opening deposit requirement. On the downside, you’ll need the Chime® Checking Account to get the secured card and must have qualifying direct deposits of at least $200 per month. And unfortunately, Chime doesn’t offer any cashback rewards on its checking or secured credit card.

Pros

  • Free checking account
  • Decent 2% APY on savings
  • Secured credit card with no APR or credit check
  • Overdraft service called Chime SpotMe

Cons

  • No cashback rewards
  • Requires Chime checking for secured card
  • No joint accounts
  • No cash deposits

Frequently asked questions

What bank is most similar to Chime?

Chime and Current are very similar. They’re both fintech companies with partner banks, have fee-free checking and savings accounts, use the Allpoint ATM network, offer a credit-building card, have overdraft services and require similar deposit requirements to earn their best available APY. The two fintechs also have similar downsides, as neither supports joint accounts or has any physical branches.

Is Chime or SoFi better?

Chime and SoFi are very similar, but SoFi has more to offer. SoFi’s checking earns interest, has cashback rewards, you’ll get a higher APY on savings, and SoFi supports joint accounts. For a full comparison, see our SoFi vs. Chime review.

What are the easiest online banks to open?

If you have a clean banking history, any of the top online banks and fintechs like Chime, SoFi or Varo are pretty easy to open, just requiring some basic information and filling out an online application. Chime is one of the easiest places to get a checking or savings account since it doesn’t use ChexSystems, which is a bureau that keeps a record of your banking history. If your banking history isn’t super great, consider a second-chance bank account.

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To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
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Written by

Editor, Banking

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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