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Chime Savings review

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Grow your savings automatically with a 1% APY, debit card round-ups and recurring transfers.

Chime Savings is packed full of features to help you grow your savings without lifting a finger. You’ll earn 1% APY and have the ability to set up recurring transfers that move 10% of your paycheck to savings. But you need a Chime Spending account to open the account.






Minimum deposit to open


Minimum deposit to open$0
New account fee$0
Minimum balance to earn interest$0.01
Interest compoundingDaily
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Expert review

Cassidy Horton

Review by

Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Chime Savings is best for anyone who wants to put their savings on autopilot. This account is completely free to open and maintain.

You’ll earn 1% APY on your total balance — a rate that’s 16x higher than the current national average. Plus, you’ll get access to savings tools where you can automatically set aside 10% of each paycheck or have your debit card purchases rounded up to the nearest whole dollar.

But you must open a Chime Spending account before you can access this savings account. If you already have a checking account you love — and you’re not looking to switch — Chime Savings may not be right for you.

How do I open a Chime Savings account?

You must have a Chime Spending account to open Chime Savings. Once your Spending account is set up, follow these steps to activate your savings account:

  1. Click Apply now.
  2. Log in to Chime through the mobile app or website.
  3. Navigate to the Settings menu.
  4. Follow the prompts to set up your Chime Savings account.


Open a Chime Savings account when you meet these requirements:

  • At least 18 years old
  • Valid Social Security number
  • Active Chime Spending account

Required information

Your Chime Savings account is tied to your Spending account, so you won’t need to give any additional information when you set it up.

What are the benefits of a Chime Savings account?

Chime Savings is an FDIC-insured digital bank account featuring:
  • No fees. Chime Savings is completely free to open and maintain. You won’t find any fees here.
  • No minimum deposit requirements. Open this account with as little as $0.
  • High interest. Your Chime Savings account earns an impressive 1% APY — a rate higher than most savings accounts available today.
  • Automatic savings. When you use your Chime card, Chime rounds up your purchase to the nearest dollar and transfers the rounded amount to your Chime Savings account. Plus, you can opt in to automatically transfer 10% of each paycheck into savings.

What should I look out for?

Chime Savings has several perks, but it also has a few drawbacks:
  • Chime Spending account required. You’ll need to open a Chime Spending account first. This can be a disadvantage if you don’t need a new checking account.
  • Limited access to funds. If you need to withdraw or deposit your money, you’ll need to do it as a transfer from your Chime Spending account.
  • No joint accounts. Chime Bank doesn’t support joint accounts, so you can’t open this with a partner or child.
  • No 24/7 support. While there are three ways to reach Chime, customer support isn’t available 24/7 like other online banks. You can call 844-244-6363 Monday through Saturday from 7 a.m. to 7 p.m. or Sunday from 9 a.m. to 5 p.m. CST. You also have the option of chatting straight from the app or emailing

If you’re looking for an account you can open directly, explore these savings accounts.

Compare Chime Savings other savings accounts

Use this table to see how Chime Savings stacks up against the competition. Enter your deposit into the calculator to see how much interest you could earn.

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $7 per month for Aspiration Plus ($5.75 per month if you pay annually)
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.

Compare up to 4 providers

How do I deposit or withdraw my money?

This savings account is linked to your Chime Spending account, so the only way to access money is to transfer it to or from your Chime Spending account first. Here are your options:


  • Manual transfer from your Chime Spending Account
  • Automatically transfer spare change when you use your debit card using round-ups
  • Automatic transfer 10% of each paycheck using Save When I Get Paid.


  • Transfer to your Chime Spending account.

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