9 Excellent
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
See how Chime compares to its closest competitors such as SoFi, Varo and Capital One.
Bank or fintech | Products offered | Savings APY | Checking monthly fee | |
---|---|---|---|---|
SoFi | SoFi Checking & Savings, personal loans, mortgages, investing | Up to 3.80% APY | $0 | |
Fizz debit card | Credit-building secured card, cashback rewards | N/A | Starts at $5.99 | |
Step | Credit-building secured cards, savings, kids’ banking, cashback rewards, investing | Up to 4% in savings rewards | $0 | |
Varo | Varo account, savings, cashback debit card, cash advances, tax filing | Up to 5.00% APY on up to $5,000 | $0 | |
Current | Checking, savings, cashback rewards, credit-building secured card, paycheck advances, teen banking | Up to 4.00% savings bonus on up to $2,000 per pod | $0 | |
OnePay Cash | Checking, savings, cashback rewards | Up to 3.75% APY | $0 | |
Ally Bank | Checking, savings, credit cards, money market account, mortgages, personal loans, auto loans | Up to 3.6% APY | $0 | |
Capital One | Checking, savings, kids’ banking, business financing, credit cards | Up to 3.6% APY | $0 |
9 Excellent
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 3.80% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
9.4 Excellent
APY | N/A |
---|---|
Fee | From $5.99 per month |
Minimum deposit to open | $150 |
APY | N/A |
---|---|
Fee | From $5.99 per month |
Minimum deposit to open | $150 |
9.4 Excellent
APY | 4.00% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | 4.00% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
9.6 Excellent
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
Fee | $0 per month |
---|---|
Minimum deposit to open | $0 |
9.2 Excellent
APY | 4.00% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | 4.00% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
9.6 Excellent
APY | Up to 3.75% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 3.75% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
8.6 Great
APY | Up to 0.25% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | Up to 0.25% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
9.2 Excellent
APY | 0.10% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
APY | 0.10% |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
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.
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.
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.
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.
Learn how to use Zelle with your Bank of America account, including how to enroll, sending limits, fees and more.
Zelle is a peer-to-peer payment app that lets you seamlessly send and receive money from people you know. Find out if Discover supports Zelle.
SoFi Plus is a new membership option for SoFi customers that’s free with qualifying direct deposits and earns extra rewards and higher APYs.
Bank of America is a dependable and accessible bank network, but keep an eye out for monthly fees compared to other options.
Zelle transfer limits vary by bank. Some of the banks with the highest Zelle limits include Capital One, SoFi, Chase, PNC and Wells Fargo.
Popular online bank SoFi is one of the only fintechs that works will Zelle, a peer-to-peer money transfer app.
Chime offers a competitive $100 referral bonus and a $100 direct deposit bonus when you meet certain requirements. See details here.
Many banks offer early direct deposit up to 2 days early, including SoFi, Chase, Chime, Discover, Huntington and many more. See the full list.
A financial app with cash advances, banking and budgeting tools.
Cardless cash provides a convenient way to use an ATM without their card. If you often go out without your wallet, or want to make it easier for family members to take out money, this is a feature that deserves a second look.