9 Excellent
Top Offer
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 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 |
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 |
---|---|---|---|
Chime | Chime Checking, Chime Savings, Chime Credit Builder Card, tax filing, lines of credit, credit cards | Up to 1.25% APY | $0 |
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 3.5% APY | $0 |
Capital One | Checking, savings, kids’ banking, business financing, credit cards | Up to 3.5% APY | $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 1.25% APY with no monthly fees, or up to 3.75% APY for Chime+ members. Chime Credit Builder secured card has no interest charges, requires no credit check, doesn’t charge APR, and has no minimum opening deposit requirements. On the downside, you’ll need the Chime Checking Account to get the secured card, and to earn the best savings rate, you’ll need Chime+ ($200+ in monthly direct deposits). And as an online fintech, Chime doesn’t have any physical locations, and you can’t deposit cash via ATM.
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, you’ll get a higher APY on savings and SoFi supports joint accounts. SoFi also has an investing platform and various lending products, things that Chime lacks. 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.
Ally and Capital One have similar APYs and no monthly fees, but Ally is online-only and Capital One has some physical locations.
See how to earn up to $1,500 when you open a new Capital One savings or checking account with qualifying deposits.
The $500 Axos Bank bonus is now expired, but you can still earn $50 per qualifying referral, plus up to $400 with a new business account.
Discover only offers a bonus on its savings account, and it has a high deposit requirement. See how to get it here.
Some of the best-rated mobile banking apps include SoFi, Chase, Discover and Wells Fargo. See our full list here.
Earn a checking account bonus of $200 by getting the Upgrade Card and making 3 qualifying transactions.
Fifth Third Bank currently offers a $325 checking account bonus when you open a new account and set up qualifying direct deposits.
Earn $25 with Varo by referring a friend. See the fine print on how to earn this bonus here.
One of PNC’s best bonus offers is its $400 direct deposit bonus. But if you don’t meet the criteria, there are other ways to earn cash.
SoFi offers several bonus offers, including a direct deposit bonus, welcome offers and referral bonuses. See how to snag up to $300.