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Our Chime referral link gives you a $100 bonus if you receive a qualifying deposit of $200 or more within 45 days.
Chime isn’t directly advertising any introductory benefits on their site, so our promo offer is the best way to get a head start with Chime.
Table of Contents
How the Chime Referral Program Works
As long as you’re regularly paid through direct deposit, earning a $100 bonus through Chime should be simple.
| Bonus Amount | $100 |
| Bonus Eligibility | New accounts only. |
| Bonus Requirement | Receive a $200 payroll deposit. |
| Time Limit | Deposit must occur within 45 days. |
To make sure you get your bonus, follow these steps:
Step 1: Use our referral link and enter your email address to begin the application process.
When you use our referral link you’ll be eligible for the bonus.
Step 2: Enter additional personal information as requested.
Chime will request your full name, date of birth, mobile phone number, and home address.
Step 3: Create a password.
Step 4: Confirm your identity by entering your Social Security number.
Step 5: Receive a qualifying direct deposit of at least $200 within 45 days of creating your Chime account.
The deposit must be from a payroll provider.
If your paycheck is already automatically depositing to a different bank account, contact your payroll provider to make any changes required so that your deposit goes to your new Chime account.
Conditions
Like we mentioned above, this referral offer depends on your ability to receive a direct deposit worth $200 or more.
You’ll have to receive that deposit within 45 days of account creation, so you might want to hold off on signing up if you aren’t expecting a direct deposit anytime soon.
According to the Chime website, qualifying deposits include direct deposits from:
- Your employer
- Your payroll provider
- A gig economy payer, or
- Benefits paid by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT)
These type of deposits do not qualify for the bonus:
- Bank ACH transfers
- Pay Friends transfers
- Verification or trial deposits from financial institutions
- Peer to peer transfers from services such as PayPal, Cash App, or Venmo
- Mobile check deposits, cash loads or deposits
- One-time direct deposits, such as tax refunds and other similar transactions
Chime reserves the right to decide whether a deposit qualifies or not.
Similar to most other referral programs, Chime’s bonus is also limited to users who haven’t created an account in the past.
If you’ve used Chime before, you won’t be eligible to earn our $100 bonus.
Want more free money? How to Get Free Money Fast
How Chime Works
Chime is a mobile banking and personal finance platform that offers all-online banking.
Checking Accounts
After creating a checking account, you’ll receive a digital and physical debit card that you can use like any other.
The card can be added to your Apple Pay or Google Pay wallet, and you can also disable transactions on your Chime debit card from within the mobile app.
Like some of its competitors in that niche, Chime doesn’t charge common banking fees like overdrafts, minimum balance fees, monthly fees, or foreign transaction fees to checking users.
If you receive monthly direct deposits of $200 or more, you can overdraft your account by up to $200 (depending on eligibility) and have the cash taken out of your next deposit with no additional fee.
While you will have to pay a fee of $2.50 when you withdraw from an out-of-network ATM, Chime debit card members can withdraw from more than 60,000 ATMs at no charge.
Eligible users can also receive direct deposits up to two days in advance.
Savings Accounts
Chime’s high-yield savings account accumulates at a higher rate than comparable accounts from major institutions like Bank of America and Wells Fargo.
At time of writing, Chime users receive an APY of 0.50% in their savings account, with no minimum balance required to earn interest.
Users who have both a checking and savings account can also configure Chime to automatically round up purchases made with their checking account and transfer the remainder into savings.
Like the checking account, the savings account avoids common banking restrictions including minimum balance fees, limits on interest, and other charges.
Credit Builder
Finally, Chime offers a unique no-fee, no-interest Credit Builder card that’s designed to help people start developing their credit.
While it might not be as useful for people who already have strong credit, you might find it helpful if you currently have poor credit (or no credit at all).
Unlike conventional unsecured credit cards, the Credit Builder card only enables members to spend as much as they’ve deposited into their Credit Builder account.
With that in mind, you can never use your Credit Builder card to spend more money than you have on hand.
From there, the Credit Builder card can be used like a regular credit card as long as you don’t try to charge anything that goes beyond your limit.
You can also configure your Credit Builder account to automatically use your deposits to cover each month’s statement before the payment deadline.
This structure enables Credit Builder to offer some of the advantages of a line of credit without introducing the risk that people typically associate with credit cards.
Have good credit? Try these cards: Best Cash-Back Credit Cards
Can I Trust Chime?
Chime was founded in 2013 and is designed to pull users from more traditional banks due to its online-only setup and relatively generous fee structure compared to brands that still levy overdraft fees and other unpopular charges.
From the perspective of the end user, it’s fair to say that Chime works similar to any other bank.
However, Chime doesn’t actually provide any banking services on its own.
Instead, their banking services are offered by The Bancorp Bank or Stride Bank.
Both the Chime debit card and Credit Builder cards are issued by Visa, so you’ll be able to use them anywhere Visa cards are accepted.
Chime is primarily a mobile service, with apps available for both iOS and Android.
The mobile apps each have hundreds of thousands of reviews, with an average of 4.6 on Google Play and 4.8 at the Apple App Store.
Given Chime’s connections to major financial institutions and its high marks in user reviews, it’s one of the most reputable options out there if you’re looking for a digital banking platform.
If you’re concerned, keep in mind that Chime users are insured to the standard FDIC maximum of $250,000 per account.
How Did Chime Work for You?
If you signed up for Chime through our referral program, we’d love to know more about your experience with the platform.
Please take a minute to leave a note in the comments below and help other users understand what to expect from Chime.
Author:
Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.
Just signed up for Chime through your link! Hope the bonus plan works out and we both get our $100. Planning to contact my employer this week to get the next pay check set up for deposit to Chime. Best, Paulette
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