Chime is a fee-free US mobile banking app with no monthly fees, early paycheck access, and a Credit Builder card. See features, pricing, and FAQs.
Anyone researching Chime should be aware that at least three distinct products have used the name. This profile is specifically about Chime, the US consumer fintech and mobile banking app founded by Chris Britt and Ryan King. It is not Amazon Chime, which is Amazon's own video conferencing and business communications product, an entirely separate offering from an entirely separate company. It is also not the real estate CRM formerly branded as Chime, which rebranded to Lofty in 2023 and serves real estate agents and brokerages, again with no connection to the financial company described here.
Chime is not a chartered bank; it is a financial technology company that partners with The Bancorp Bank and Stride Bank, N.A. to offer FDIC-insured checking and savings accounts through its mobile app. Its flagship Checking Account carries no monthly maintenance fees, no minimum balance requirements, and no typical overdraft charges, positioning it as an alternative to fee-heavy traditional bank accounts for people living paycheck to paycheck.
Signature features build on that fee-free foundation: direct deposit that can post up to two days early, SpotMe fee-free overdraft coverage up to a limit that can grow over time, a High-Yield Savings Account with automatic savings tools, and a Credit Builder secured Visa card that reports to credit bureaus without charging interest or an annual fee. Because Chime does not rely on account fees, its revenue instead comes primarily from card interchange fees paid by merchants when customers spend.
Chime grew from a 2012-2013 startup into the largest neobank serving underbanked US consumers, reporting around 8.6 million active members and roughly 1.7 billion dollars in 2024 revenue, alongside a dramatically narrowed annual loss and a return to profitability in early 2025. That growth set up its initial public offering on June 12, 2025, when Chime began trading on the Nasdaq under ticker CHME, raising about 864 million dollars in the offering.
Reported valuations from the IPO ranged from roughly 11.2 billion to 18.4 billion dollars depending on the measure used, notably below Chime's reported 2021 private valuation peak of around 25 billion dollars, reflecting the broader reset in fintech valuations since then. Even so, shares reportedly jumped as much as 59 percent above the offering price on their debut, and the listing was widely framed as a milestone for reopening the fintech IPO market after several quiet years.
No, Chime is a financial technology company, not a chartered bank. Its banking services are provided by partner banks The Bancorp Bank and Stride Bank, N.A., which hold and insure deposits.
No, Amazon Chime is Amazon's separate video conferencing and business communications product and is unrelated to this Chime.
No, the real estate CRM once called Chime rebranded to Lofty in 2023 and has no connection to the financial company covered here.
No, Chime does not charge monthly maintenance or minimum balance fees on its core checking account.
Chime began trading on the Nasdaq under ticker CHME on June 12, 2025, raising roughly 864 million dollars in its IPO.
SpotMe is a fee-free overdraft feature that covers small negative balances up to a limit that can grow based on account history.
Chris Britt and Ryan King founded Chime in San Francisco around 2012 to 2013.
Chime earns revenue primarily through interchange fees paid by merchants when customers use their Chime debit or Credit Builder cards.