Chime vs Varo

traditional vs traditional · from the open dataset of 357 tracked neobanks · no affiliate links, ever

Chime: Largest US neobank; 20M+ members; SpotMe overdraft.

Varo: First US consumer fintech with a national bank charter.

Side by side

	Chime	Varo
Category	traditional	traditional
Audience	general	general
HQ	San Francisco, US	San Francisco, US
Founded	2013	2015
Custody	Custodial	Custodial
Regulation	Partner-bank model	Licensed bank
Licence detail	Partner banks (The Bancorp, Stride)	National bank charter (2020)
Card	Visa · Debit	Visa · Debit
Cashback	—	—
Yield	~2% APY savings	Up to 5% APY (conditions)
Stablecoins	No	No
KYC	Yes	Yes
Regions	North America	North America
Reported users	22M members (2024)	—

go deeperFull profiles: Chime · Varo — or run your own comparison of up to four in the directory.

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.