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Is Chime a Scam?

chime.comLegitimate Business
Risk Assessment
20%Risk Score
Low Risk

Summary

Chime is a legitimate financial technology company offering mobile banking services. Accounts are held at partner banks (Bancorp Bank, Stride Bank) which are FDIC insured.

Chime is NOT a scam. It is a legitimate fintech company with FDIC-insured deposits. However, it's not a bank itself - services come through partner banks.

Company Information

Parent Company
Chime Financial, Inc.
Founded
2012
Headquarters
San Francisco, CA
Stock
Private
Employees
2,000+

Trust Indicators

  • Deposits are FDIC insured through partner banks[source]
  • Partner banks: Bancorp Bank, Stride Bank[source]
  • No monthly fees or minimum balance[source]
  • 14.5+ million account holders[source]
  • SpotMe overdraft protection up to $200[source]

Concerns

  • Account closures can happen suddenlymedium[source]
  • Not a bank - banking services via partnerslow[source]
  • Limited branch/ATM accesslow[source]
BBB Rating
C-
Trustpilot
1.3/5
BBB Complaints
8,000

💡 Recommendations

  • 1.Understand Chime is a fintech, not a bank
  • 2.Deposits are FDIC insured up to $250K
  • 3.Use fee-free ATM network to avoid charges
  • 4.Set up direct deposit for early access
  • 5.Don't use for sole account - have backup

📚 Sources

Chime SecurityChime AboutFDIC BankFind - Bancorp BankBBB Business ProfileTrustpilot Reviews
Last updated: 2026-01-22

Disclaimer: This analysis is for informational purposes only. Information may be incomplete, outdated, or inaccurate. Our assessments should not be the sole basis for financial, legal, or personal decisions. Always conduct your own research and due diligence.