Chime and Cash App are two top fintechs. Chime focuses more on checking and savings products, while Cash App is widely known for its peer-to-peer (P2P) money transfer services. At a glance, you’d think these two apps are fields apart, but they share many of the same features including early direct deposit, borrowing options, savings and P2P payments.
ATM fee: $0 within network, $2.50 out-of-network cash withdrawal fee
Total ATMs: Select commercial ATMs
ATM fee: $2.50, or unlimited free ATM withdrawals at in-network ATMs with monthly direct deposit of $300 or more
Branches
Online only
Online only
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC. Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade. You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer. Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here. Chime Savings Account: Chime Checking Account is required to be eligible for a Savings Account. APY: The Annual Percentage Yield (“APY”) is variable and may change at any time. The disclosed APY is accurate as of date of publication. No minimum balance required. Must have $0.01 in savings to earn interest. Chime Plus: The disclosed Annual Percentage Yield (APY) is available only while you maintain Chime Plus status, otherwise the standard 0.75% APY for non-Chime Plus will apply. The APYs for the Chime Savings Account are effective as of publishing and are variable and may change at any time. No minimum balance required. Must have $0.01 in savings to earn interest. See Chime Plus Terms and Conditions for more details. Chime Plus membership eligibility: To be eligible for Chime Plus status, receive either 1) a single $200+ qualifying direct deposit; or 2) $400+ in cumulative qualifying direct deposits to your Chime Checking Account in the preceding 34 days. Certain products marketed as perks have additional eligibility requirements. While some perks may have associated fees, none of these fees are mandatory to access the perks or to maintain the applicable status. See the Chime Membership Tiers Terms and Conditions for details on all listed Prime and Plus perks. Chime Prime: To be eligible for Chime Prime status, receive $3,000+ in qualifying direct deposits to your Chime Checking Account in the past 34 days. To be eligible for Chime Plus status, receive either 1) a single $200+ qualifying direct deposit; or 2) $400+ in cumulative qualifying direct deposits to your Chime Checking Account in the preceding 34 days. Certain products marketed as perks have additional eligibility requirements. While some perks may have associated fees, none of these fees are mandatory to access the perks or to maintain the applicable status. See the Chime Membership Tiers Terms and Conditions for details on all listed Prime and Plus perks. Chime Prime APY: The 3.75% Annual Percentage Yield (APY) is only available to members with Chime Prime status, otherwise, either the 2.75% APY for members with Chime Plus status or the standard rate of 0.75% APY will apply. The APYs are effective as of 07/13/2026, are variable and may change at any time. No minimum balance required. Must have $0.01 in savings to earn interest. See Chime Membership Tiers Terms and Conditions for more details. Get Paid Early: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Chime Card: To apply for a Chime Card, Chime® Checking Account is required to apply. SpotMe: SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. SpotMe on Chime Card Terms and Conditions. Federal Tax Return Direct Deposit: Chime members may choose to direct deposit their state and/or federal tax refunds with Chime. They may choose to direct deposit no matter what tax preparer they choose. They do not need to file through Chime in order to direct deposit their refund. If a member does direct deposit their federal refund they may receive the refund up to 6 days early. This only applies to federal refunds, not state. When marketing the speed of the tax refund it must always include the following elements: federal tax refund, up to 6 days early, with direct deposit. MyPay®: MyPay® is only offered in select states. To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or https://www.chime.com/policies/stride/mypay/ for details. Option to get funds instantly for a fee of 3% of the advance amount ($2 minimum, $5 maximum) per advance, or get funds for free within 24 hours. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
Chime vs. Cash App: Account options
Chime and Cash App are fintechs, not banks. Each has banking partners that can provide FDIC deposit insurance up to the typical insured amount of $250,000. Cash App partners with Wells Fargo Bank, and Chime partners with The Bancorp Bank and Stride Bank.
To have your Cash App balance insured by the FDIC, you need the Cash App Card, which is free and simply requires a Cash App balance. Without the Cash App card, your balance is not covered under FDIC insurance through Cash App’s partner bank.
Banking
Chime and Cash App are online fintechs that offer spending cards, direct deposit up to two days early, savings with decent APYs and P2P payment services.
The Chime® Checking account features many perks, such as early direct deposit, an optional overdraft service SpotMe®, a line of credit for those with direct deposit and a secured credit-building card with no APR. With a Chime checking account, you unlock the optional savings account that earns up to 3.75% APY with Chime Prime. However, to qualify for features like overdraft services, the line of credit and the highest savings APY, you need to meet direct deposit requirements. Otherwise, savings earns 0.75% APY.
Cash App is, first and foremost, a P2P money app. Famous for its quick and easy money transfers to other Cash App users, it charges no fees to send or receive money in the app. Cash App also offers a prepaid debit card linked to your Cash App balance. The card is free to open and maintain and can be used for spending. Cash App also offers a savings pocket that automatically earns 1.5% APY. To earn the 3.5% interest on savings, you either need to direct deposit $300 per month, or spend at least $500 with your Cash App card. Those APYs are much higher than the national average rate for savings accounts of
0.38%, as reported by the FDIC.
8.8
Great
Save money with high interest and no hidden fees
Earn up to 3.25% interest* (See terms.)
$0 monthly fees.
Unlimited transfers between Cash and Savings balances.
Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Savings provided by Cash App, a Block, Inc. brand.
Customers can qualify for Cash App Green by spending $500 in Qualifying Purchases using your Cash App Card or Cash App Pay per month, or by depositing $300 of Qualifying Deposits per month. Eligibility restrictions apply to some benefits. See Terms and Conditions (https://cash.app/legal/us/en-us/tos) for more information. To earn the highest interest rate on your Cash App savings balance, you need to (a) have a Cash App Card, or sponsor one or more sponsored accounts, and qualify for Cash App Green or (b) have a sponsored account with sponsor approval. Customers can qualify for Cash App Green by spending $500 in Qualifying Purchases using your Cash App Card or Cash App Pay per month, or by depositing $300 in Qualifying Deposits per month. See terms and conditions for more information on how to qualify. If you are signed up to earn interest, Cash App will pass through a portion of the interest paid on your savings balance held in an account for the benefit of Cash App customers at Wells Fargo Bank, N.A., Member FDIC. Exceptions may apply. Savings yield rate is subject to change.
Unlock Borrow limits up to $400 for first time borrowers, and get limit increases of up to $300. Borrow eligibility and limits depend on several factors and are not guaranteed. There are multiple ways to increase your Borrow limit, see here (https://cash.app/support/BORROW_LIMIT_REEVALUATION) for more details. Borrow limit increase for spending may be lower than limit increase for depositing. Limit increases are subject to change. Borrow is not available in Colorado or Iowa. Borrow loans serviced by Square Financial Services, Inc. issued by First Electronic Bank or Square Financial Services, Inc. $500 limit includes Cash App Green (https://cash.app/legal/us/en-us/tos#cag) limit increase. As of October 1, 2025, the average limit for first time borrowers who are spend actives is $153.
Free overdraft coverage of up to $200 for Cash App Card transactions. Eligibility requirements apply, see terms (https://cash.app/legal/us/en-us/tos) for details.
Cash App reimburses ATM fees for all in-network withdrawals when you deposit at least $300 monthly of Qualifying Deposits into Cash App, or spend $500 or more in Qualifying Purchases using your Cash App Card or Cash App Pay in a calendar month. Service fees may apply. See terms https://cash.app/legal/us/en-us/tos) for more details.
Borrowing
Chime and Cash App both offer short-term borrowing options.
Cash App Borrow. A limited pilot program, some Cash App users can borrow money with its Cash App Borrow feature. It offers $20 to $200 with a four-week term, costing a 5% flat fee (roughly 60% APR). The requirements to qualify are unclear, and it’s not available to all users or states.
Chime MyPay®. A low-cost line of credit, Chime MyPay is offered to users with direct deposit of at least $200 per month. Amounts range from $20 to $500, depending on your eligibility, and your term lasts until your next direct deposit, similar to payday loans. This product has limited state availability, and isn’t avaiable for residents of CO, CT, GA, HI, IL, MA, MD, ME, MN, MT, NJ, NM, NV, SD, VT, WA, WI or WY, at the time of writing.
Investing
Both Cash App and Chime offer some investing services.
With Cash App, it’s simply called Cash App Investing allows you to invest in stocks or crypto with as little as $1. To open an investment account, you must be an adult US resident and provide information such as your Social Security number, address, date of birth and more.
And much like Cash App, Chime’s investing is called Chime Invest. It pulls funding straight from your Chime Checking account, has no minimum to open, and lets you get started with just $1. You get access to over 500 stocks plus a curated set of ETFs, all commission free. If you don’t want to pick your own stocks, the Managed Portfolio option handles it for you with a ready-made ETF mix, though it does carry an advisory fee based on membership tier. Everything’s custodied through Atomic Brokerage and covered by SIPC protection up to $500,000.
Apps, features and more
Cash App and Chime are both full of features, which we can expect from two modern fintechs.
Chime’s extra features include:
Chime SpotMe®. An optional overdraft service available to users with direct deposit of at least $200 per month (Chime Plus or Prime). This service allows you to overdraft your account from $20 to $200, depending on your eligibility. Chime automatically repays itself using your next direct deposit or transfer of funds, whichever comes first. No fees or tips are required.
Early direct deposit. Get direct deposit for things like paychecks and benefits up to two days early, and federal tax refunds up to six days early if you file through Chime’s tax service.
Credit Builder card. With a Chime Checking Account, you may qualify for Chime Card™. It’s a secured credit card with no annual fees, APR or hard credit check. The balance in your Chime® checking sets the spending limit, and Chime reports payments to the three major credit bureaus to build credit history.
Pay Anyone. Chime’s P2P service lets you send money to anyone with a debit card with no fees.
Round-ups. This optional feature rounds up debit card purchases to the nearest dollar and automatically sends the rounded-up amount to your savings.
File taxes. Chime offers no-fee federal and tax filing through its app for Chime customers.
Cash App’s extra features include:
P2P services. Its core feature, Cash App lets you send money, stocks or Bitcoin to other Cash App users.
Early direct deposit. Like Chime, Cash App offers direct deposit up to two days early.
File taxes. Cash App lets you file your federal tax returns for free and includes free audit defense and a max refund guarantee.
Teen account. Ages 13 and up can use Cash App when sponsored by a parent or guardian.
Boost. Using Cash App Pay or your Cash App Card, you can get discounts on select purchases with Cash App Boost. In the app, you can find discounts at restaurants and merchants. Offers are limited time, and you can browse them in the app and activate them one at a time.
How Chime and Cash App’s fees compare
There are no monthly maintenance fees or opening deposit requirements with Cash App or Chime. Cash App also doesn’t charge overdraft fees, and Chime’s overdraft service, SpotMe, is completely optional.
Cash App and Chime have the same out-of-network ATM fee of $2.50. However, Chime is much more transparent about what ATMs are in-network — Allpoint, MoneyPass and Green Dot retail locations. Cash App states it has “in-network” ATMs but doesn’t list what they are. Cash App says you can use its ATM locator in the app if you have a Cash App prepaid card.
What customers say about Cash App and Chime
Cash App and Chime both have the highest Better Business Bureau (BBB) rating of A+, as of April 2026. However, Cash App and Chime aren’t strangers to BBB complaints — Chime has over 7,000 and Cash App has well over 12,000.
Unsurprisingly, most of Cash App’s complaints center around P2P payments and reports of scams. On Reddit, users warn others that you have to be careful where you send funds, with many saying if you send money to a scammer, you probably won’t get it back. The overarching message from customers is that as long as you keep your information safe and only send money to people you actually know, it’s a convenient and easy-to-use app. Other Reddit threads also contain success stories of using Cash App to file their taxes and reports of receiving refunds very quickly after filing.
Chime used to have a major issue of closing accounts due to “suspicious activity” — reportedly from a faulty fraudulent alert system. These complaints have significantly slowed down, and it no longer has an alert on its BBB profile. More recent Chime complaints are typical banking grievances, such as issues contacting customer support and failed attempts to resolve fraudulent charges. On Reddit, many customers point out they’ve used Chime for years with no problems. A few say that Chime’s customer support isn’t great, but that’s typical for fintechs.
Final verdict: Chime wins
It’s a close call, but Chime is definitely better suited if you need a more traditional checking and savings platform. Cash App’s banking features make sense for people who already use it regularly or want to use its investing platform. But it’s unclear what Cash App’s ATM network actually includes, while Chime is transparent about using Allpoint and MoneyPass ATMs, and you can deposit cash at various retail locations.
Chime’s overdraft service SpotMe and MyPay are available to users who meet direct deposit requirements (Chime Plus), neither of which require tips or extra fees. Chime also has Pay Anyone, reducing the need for Cash App because you can send money to anyone with a debit card. It also has a credit-building secured card that’s linked to your Chime checking account, which can allow you to build credit history without APR or worries of racking up high-interest debt.
When it comes to savings rates, it’s similar. Chime offers up to 2.75% for Chime Plus members, and up to 3.75% APY for Chime Prime. Cash App offering up to 3.5% if you meet deposit requirements. Cash App’s APY is competitive with some of the best high-yield savings accounts.
Chime at a glance
Chime has checking, savings, P2P money services, a line of credit, a credit-building card and so much more.
Pros
No monthly fees
Up to 3.75% APY on savings with Chime Prime
P2P transfers with Pay Anyone
MyPay and SpotMe
File federal and state taxes
Secured card with 0% APR
Over 60,000 fee-free ATMs
Cons
$2.50 out-of-network ATM fee
Direct deposit activity requirements for some features
Many complaints about account closures
Cash App at a glance
It’s great for sending money to friends and family, but it falls a little short compared to Chime and more traditional banking options.
Pros
No monthly fees
Free P2P transfers to other users
Up to 3.5% APY with activity requirements
Cash App Invest
File federal tax returns
Discounts with Boost
Cons
Cash advance eligibility unclear
ATM network not stated
Direct deposit requirement for best savings APY
Scammers galore
Alternatives to Chime and Cash App
Chime and Cash App don’t have any physical branches, and a few other online banks have more to offer with similar features.
SoFi®. A top competitor to Chime, SoFi is a fully insured FDIC online bank featuring a top hybrid checking and savings account. The account has no fees, high APYs, and SoFi also has an investing platform and various lending services.
Varo. An online bank, Varo’s bank account has no monthly or overdraft fees and no opening deposit requirements. It also features an optional savings account with up to 3.75% APY, and you can earn up to 6% in cashback rewards with debit card purchases.
PNC. A trailblazer for online hybrid accounts, PNC’s Virtual Wallet® accounts are interest-bearing and let you sort funds for the envelope budgeting method, but you might have to pay a monthly fee.
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.
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