If you’ve been banking with the same institution for years, you’ve probably stopped noticing all the ways they’re quietly charging you. Monthly maintenance fees, out-of-network ATM charges and overdraft penalties that turn a $2 mistake into a $35 hit have become part of the cost of doing business with traditional banks, even though they shouldn’t be.

Chime offers a checking account with fee-free banking.* There’s no minimum balance requirement or monthly fee, and eligible members can access fee-free overdrafts of up to $200 with SpotMe when their balance dips lower than expected.

Here’s a closer look at how Chime can help you avoid fees and get more from your everyday banking.

Benefits of fee-free banking with Chime

Traditional banks have built their business model around fees, but Chime softens that structure. Start with the basics: no minimum balance requirement and no monthly fees, unlike accounts at traditional banks that charge up to $15 per month (unless you meet certain requirements to have them waived).

But the real value emerges when you look at cash flow. With direct deposit, Chime lets you get paid up to two days early. Or if you need cash before payday, you can borrow up to $500 without mandatory fees or interest with MyPay.

If money is tight, getting your paycheck up to two days early can make a real difference. It could mean paying a bill before it’s due, avoiding a late fee or simply having a little more flexibility between paydays.

Chime also gives you access to more than 47,000 fee-free ATMs, making it easier to get cash without worrying about an extra ATM fee. And with the Chime Visa® Credit Card, you can earn up to 5% cash back.

Chime also gives you ways to put your money to work. You can earn up to 3.75% APY with a Chime Savings Account.

And with Chime Pay Anyone, you can send money to friends and family instantly, even if they don’t bank with Chime.

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Build credit with the Chime Card

One of the most underrated features is the Chime Card, a credit-building tool built into the platform.

You can apply for the secured Chime Card with no credit check; you only need a Chime checking account. There’s no minimum security deposit and no interest to pay. You simply add money to a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.

Because Chime reports to all three credit bureaus, paying your Chime credit card balance on time helps build your credit. In a Chime study, members who made on-time payments saw an average increase in credit score of 28 points.

For anyone building or rebuilding credit, that’s a tangible path forward without the typical barriers of traditional credit cards.

Unlock more benefits with Chime Prime

If you receive at least $3,000 in qualifying direct deposits each month, you can unlock Chime Prime and access additional benefits.

Chime Prime members earn 3.75% APY on their Chime Savings balance and can earn 5% cash back with the Chime Card in a monthly category of their choice. But the real standout for frequent travelers is Chime Prime’s travel perks.

You get a complimentary Priority Pass membership for airport lounge access, Visa luxury hotel benefits, access to the Visa Signature Concierge, and reimbursement of international ATM fees.

Those are benefits you might expect from a travel rewards credit card, but Chime Prime has no annual fee.

Bottom line

Chime offers a compelling alternative to traditional checking accounts, particularly if you want to avoid monthly fees and minimum balance requirements while managing more of your finances in one place.

For those who qualify for Chime Prime, the value proposition goes further with a higher savings APY, cash-back opportunities and travel benefits.

Altogether, Chime combines everyday banking features with benefits that can help you save, build credit and get more from your money.

Learn more: Chime

Informational content: Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. and Stride Bank N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s).

Issuer Statement: Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card and the secured Chime Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc.

Other Disclosures: For more information on the following products, services, and claims, please see chime.com/disclosures. Fee-free banking, SpotMe, Getting Paid Early, MyPay, Fee-Free ATMs, 5% Cash Back, Savings APY, Pay Anyone, Credit Building, up to 70 points Increase, Eligibility (Chime Prime/Plus), Travel Perks, Visa Signature Luxury Hotel Collection and Priority Pass.