Chime
Built to end overdraft fees for paycheck-to-paycheck America; grew on two-day-early wage access and fee-free SpotMe.
Largest US neobank; 20M+ members; SpotMe overdraft.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner banks (The Bancorp, Stride).
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Chime’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | San Francisco, US |
| Founded | 2013 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner banks (The Bancorp, Stride) |
| Card | Visa · Debit |
| Yield | ~2% APY savings |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Reported users | 22M members (2024) |
| Founders | Chris Britt, Ryan King |
| Funding | ~$2.3B raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @Chime ↗
Common questions about Chime
What is Chime?
Chime is a fiat neobank, headquartered in San Francisco, US and founded in 2013. Your money is held custodially, so Chime or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner banks (The Bancorp, Stride)).
Does Chime have a card, and where can you use it?
It issues a Visa debit card. It is available in North America.
Does Chime require KYC?
Yes. Chime requires identity verification (KYC) to open an account, as a partner-bank model.
What does Chime cost?
From the verified fields: yield ~2% APY savings. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Chime before relying on them.
Early investors
Head-to-head
Chime vs Current · Chime vs Varo · Chime vs Dave · Chime vs One · Chime vs Cash App · Chime vs SoFi
Peers
Wise · Varo · Current · SoFi · Ally Bank · Dave
Chime appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.