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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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APYUp to 4.00%
Fee$0 per month
Minimum deposit to open$0
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received 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 1/31/2026. 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 4.00% 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 4.00% 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 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% 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 stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

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/termsSee 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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on Current's secure site
Read review
APY4.00%
Fee$0 per month
Minimum deposit to open$0

Alternative for teens

Step Visa Card

4.7
★★★★★

Finder score

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on Step's secure site
Read review
APY4.00%
Fee$0 per month
Minimum deposit to open$0

Alternative for interest-bearing checking

Axos ONE

4.2
★★★★★

Finder score

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on Axos Bank's secure site
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APYUp to 4.86%
Fee$0 per month
Minimum deposit to open$0

Alternative for Walmart shoppers

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 a year with eligible deposits.
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on One's secure site
Read review
APYUp to 4.35%
Fee$0 per month
Minimum deposit to open$0
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.
4.35% APY on Savings with eligible deposits: 4.35% annual percentage yield (APY) applies to the Savings balance of One Cash 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. 4.35% APY is also earned on Pay Autosave balances without these deposit or balance requirements. In all instances, 4.35% 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 10/10/2024, but may change at any time before or after account opening.
ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply and third-party ATM fees may be incurred.
Overdraft Protection: Available with Direct Deposits totaling at least $500 in the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection. Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of One and may exclude certain transactions (e.g., bill pay, global transfers). See terms for details.
¹Only available to consumers who open an account through Walmart.com, the Walmart app, one.app, or the One app from 8/8/24 - 10/31/24. 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.
Go to site Read review
APYN/A
FeeFrom $4.17 per month
Minimum deposit to open$150

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.
Go to site Read review
Fee$0 per month
Minimum deposit to open$0

Alternative for budgeting

Ally Bank Spending Account

4.3
★★★★★

Finder score

APYUp to 0.25%
Fee$0 per month
Minimum deposit to open$0

Alternative for travelers

Capital One 360 Checking

4.6
★★★★★

Finder score

Read review
APY0.10%
Fee$0 per month
Minimum deposit to open$0

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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