With so many finance companies offering different products, it can be difficult to determine the one that best fits your personal financial needs. But among the many options currently available, Chime has proved to be the popular choice for numerous people. This explains why there are so many Chime reviews on the internet. Before you open an account with Chime, it is important to go through these reviews to have an idea of what you are getting yourself into.

But since it’s impossible to go through all the available reviews, we have prepared a comprehensive summary of the most useful reviews and comments about Chime for you. These reviews answer the most common questions asked about Chime.

Can I Trust Chime with My Money?

With Chime, your money’s security is a top priority. That’s why Chime has put in place stern safety measures that you would expect to find in any financial institute. For instance, Chime accounts are insured through their partner banks with the FDIC, for up to $250,000 per account  This should put your mind at ease knowing that your hard-earned money is in safe hands. 

Furthermore, you can set up both a savings account and a checking (spending) account just to be able to track your expenses and improve the safety of your money, by having clear, separate accounts, rather than holding all your funds in a single place.

What Users say About Chime’s Security

In a recent review on Consumer Affairs, Renee from Batesville, AR said she hasn’t experienced any security issues over the last year she has been using the Chime app, adding that she has always been able to receive and deposit money into her account with ease.

In her review, she wrote, “keep up the good work, Chime. I truly appreciate how you appreciate me & the amazing job your company does to meet my everyday needs & the lengths the company goes to making sure me & my account are safe is very impressive. I highly recommend Chime to any & everyone looking for safe, honest, & efficient online banking. Thanks, Chime”.

Is Chime Safe from Scammers?

Although Chime has put in place numerous security measures and works diligently to protect its customers from online scammers, it continues to warn its members against revealing their banking information to strangers or people they don’t trust.

The sad fact is that in today’s world, often the biggest risk when it comes to exposing your financial details to scammers, comes from you.  That’s why Chime has gone a step further, seeking to educate its members about the various ways in which they might be scammed.

Chime Tips for the Best Security Practices

There are easy ways to recognize an online scammer before they take advantage of you. If you see an advert on social media with the words “free money”, images of large amounts of money and luxury items, and references to Chime “ambassadors” or “reps”, understand that it’s a scam and shouldn’t go anywhere near it. 

Chime advises you to be wary of people who will ask you for your full social security number, credit or debit card numbers, PIN, username and password, or money in exchange for “Chime” services – they are all scammers.  

Chime has also put together a team of highly trained experts to guarantee its customers’ safety. These experts are expected to constantly learn about the latest threats to financial technology so that they can easily protect against, detect, and mitigate any threats that may arise. 

Additionally, the mobile banking app has set up an industry-leading security infrastructure, built on the same cloud infrastructure used by other leading technology companies, government entities, and financial institutions.

How Chime Protects Your Information

Chime insists that they will only ask for the last four digits of your social security number and debit or credit card number when you need to get in touch with them. Therefore, if anyone asks you for any sensitive information about your Chime account, cease communications with them and alert the bank immediately.

But if someone steals your Chime debit card information or makes unauthorized purchases with your card, you shouldn’t worry too much because Chime debit cards are protected by Visa’s zero liability policy. This means that you will not be responsible for any purchase made with your card when you lose it or if your card information is stolen.

A Chime Review Where the User Experienced Fraud on his Card

In a recent review of Chime on Consumer Affairs, Dustin – a verified reviewer from San Diego, CA, and a Chime member for about four years – revealed how someone obtained his account info and made about $2,100 worth of charges to his card. But within a week, Chime had honored its 0% liability promise and returned the entire amount to his account.

On May 11, 2021, another member of Chime by the name Tanisha from Lima, OH, posted a review on Consumer Affairs narrating how Chime returned $40 that had been erroneously withdrawn from her account. She thanked the bank’s customer service representatives with whom she had interacted on the Chime app and through email for their courtesy and timely assistance.

“All those whom I spoke with were able to successfully put my money back in my account. Thanks, Chime,” she posted.

Is Chime a Legitimate Bank? 

Although Chime is a financial technology company, it is not a bank. It has partnered with various banks, including Bancorp Bank and Stride Bank, to offer legitimate and reliable banking services. Furthermore, through it’s partner banks, Chime accounts are fully insured by the Federal Deposit Insurance Corporation (FDIC).

On April 21, 2021, Jeremy from Plano, TX posted a review of Chime on Consumer Affairs outlining some of the amazing services offered by Chime:

“Mobile checking, direct deposit…etc you have to check it out. Got everything you need! Great customer service. Quick on responses timing on the balance information. Cash-out at any 7 Eleven and load it at 7 Eleven,” Jeremy wrote.

Immer from Pasadena, TX also posted a review on the same day mentioning how the mobile banking app has helped her to rebuild her credit score:

“I got it just to check it out, but I’ve loved it, now it’s my main bank. Especially the credit builder and savings on it. It has really helped me out a lot. I recommend it to all my employees. The only negative thing is that there are not many spots to get all the money you want out. But there are 2 close to me, so it works out,” she wrote on Consumer Affairs.

Bottom Line: What You Can Learn from Chime Reviews

Like many tech companies attempting to understand this new landscape of finance, Chime continues to upgrade its services and infrastructure to ensure that all their customers get the kind of banking experience they desire. It has also continued to improve its safety measures and worked to educate users about how they can best protect themselves and their money from fraud.

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