Chime has no minimum balance requirement on its Checking Account or Savings Account and charges no monthly fee on either. You can open both accounts with $0 and maintain them at any balance without penalty. Chime is a financial technology company rather than a bank, and banking services are provided by FDIC-insured partner banks.
Chime Account Minimums at a Glance
| Account | Minimum to Open | Ongoing Minimum | Monthly Fee | Overdraft Coverage |
|---|---|---|---|---|
| Checking Account | $0 | $0 | $0 | SpotMe up to $200 (with qualifying DD) |
| Savings Account | $0 | $0 | $0 | N/A |
No Minimum Balance on Any Account
Because Chime charges no monthly fee, there is no minimum balance to maintain. A customer who opens a Checking Account with $5, spends $3, and leaves $2 in the account pays nothing and faces no consequence. This structure is the same as other no-fee accounts at Ally, Capital One, and Discover.
Chime earns revenue primarily from interchange fees charged to merchants when customers use the Chime debit card, rather than from monthly fees or balance requirements.
Chime Checking Account
The Chime Checking Account includes a Visa debit card, access to over 50,000 fee-free ATMs through the Allpoint and Visa Plus Alliance networks, and early direct deposit that provides access to payroll up to two days before the standard settlement date. Cash deposits can be made at Green Dot retail locations at a fee set by the retailer. There are no ATM fees at in-network ATMs. Out-of-network ATM withdrawals incur a $2.50 Chime fee.
SpotMe Overdraft Coverage
Chime SpotMe provides fee-free overdraft coverage of up to $200 for qualifying members. To qualify, you must receive $200 or more in qualifying direct deposits per month. The initial SpotMe limit starts at $20 and increases based on account history and direct deposit consistency, up to $200. There is no fee for using SpotMe; the overdraft amount is simply deducted from the next deposit.
Chime Savings Account
The Chime Savings Account earns a competitive APY on any balance and has no minimum balance or monthly fee. Chime offers automatic savings features including round-up transfers on debit purchases and automatic percentage transfers from direct deposits to savings. Both features are optional and free. For current rates, see the Chime savings account guide.
What Chime Does Not Offer
Chime does not offer joint accounts, trust accounts, or business accounts. Cash deposits are only available at Green Dot retail locations at a retailer-set fee, which is a meaningful limitation for customers who regularly handle cash. Chime does not offer checks or check writing.
For a full overview of Chime features and how it compares to traditional banks, see the Chime complete guide.
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