Does Chime Have a Minimum Balance? No — How Every Account Works

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

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 47,000 fee-free ATMs through the Allpoint and Visa Plus Alliance networks plus FCTI ATMs inside 7-Eleven and Speedway, 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 (free at Walgreens and Duane Reade). There are no ATM fees at in-network ATMs. Out-of-network ATM withdrawals incur a $2.50 Chime fee, and the standard debit card ATM withdrawal limit is $515/day.

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 has no minimum balance or monthly fee and earns a tiered APY: a base rate for all members, a higher rate for Chime Plus members with qualifying direct deposit, and the highest rate for Chime Prime members with a larger monthly direct deposit. 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 and tier requirements, 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 (except at Walgreens and Duane Reade, which are free), which is a meaningful limitation for customers who regularly handle cash elsewhere. Chime does offer a Checkbook feature for sending paper checks from the app, though it does not provide a traditional physical checkbook.

For a full overview of Chime features and how it compares to traditional banks, see the Chime complete guide.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.