Is Chime safe? 2025 full guide

Chime is a fintech company that provides fee-free online banking services through 2 national banks, Stride Bank and The Bancorp Bank.¹

You may wonder, "Is Chime bank safe?". Chime is a legitimate, trustworthy provider, but you still need to be aware of some things to keep your money safe. Let’s dive in.

Is Chime safe to use?

Something important to understand about Chime is that it's not actually a bank. It's a financial technology company that partners with banks to provide banking services.

This is how many online financial services operate, and this setup can be very secure when done properly. So, generally speaking, Chime is safe.

The provider takes several steps to protect your money and information. They use strong encryption to protect your data, and your deposits are backed by FDIC insurance through their partner banks.¹

There are also 4,200+ customer service experts working 24/7 who can quickly help you if you notice anything suspicious on your account.³

Is Chime FDIC insured?

Chime is not a bank, so technically it can't be FDIC-insured. However, your money at Chime is protected by FDIC insurance through their partner banks, The Bancorp Bank, N.A. and Stride Bank, N.A.¹

This means that if anything were to happen to Chime, the federal government would protect your money up to 250,000 USD through Chime’s bank partners.¹

FDIC insurance is a government program that ensures you don't lose your money if your bank fails. The insurance covers checking accounts, savings accounts, and other standard bank deposits.

FDIC insurance is automatic, so you don't need to sign up or pay for it.

What are Chime's safety features?

You can rest assured that Chime takes security seriously. There are a few different features to protect your money and personal information.¹³

Real-time alerts

You can keep track of your transactions with real-time alerts and set up daily notifications to monitor all account activity. This way, if someone uses your Chime card, you'll know right away.

If you lose your card or see a purchase that you didn't make, you can instantly freeze your Chime debit or Credit Builder card through the app. This immediately stops any new purchases or ATM withdrawals until you figure out what's going on.

Visa® Zero Liability

Your Chime debit card comes with Visa® Zero Liability protection. This means you won't have to pay for unauthorized charges if someone uses your card without permission.

Security frameworks

Chime uses multiple security methods to keep your account information safe, including two-factor, Face ID, and fingerprint authentication.

The financial technology company also follows major industry security frameworks and maintains current certifications. There are also independent auditors who regularly check Chime's security systems.

What is Chime’s refund policy?

If you choose to close your Chime account, Chime’s refund policy states that they will refund the balance of a closed account within 14 days.

However, in 2024, the Consumer Financial Protection Bureau (CFPB) took action against Chime for not returning customers' money quickly enough after closing their accounts. While Chime promised 14-day refunds, many customers waited over 90 days to get their money back.⁴

As a result, Chime had to pay 1.3 million USD to affected customers and 3.25 million USD in penalties.⁴

Pros and cons of Chime

Chime is a legitimate financial technology company that can make banking very convenient. However, as with any provider, there are a few pros and cons to consider.

Chime works well for domestic banking, but it's limiting if you ever need to send money to another country. You can't initiate international wire transfers from your Chime account, so you'll need to use a trusted third-party provider.

What’s the best way to send money internationally?

Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.

You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.

Wise is a money service business (MSB) regulated by 12 international financial authorities, and uses sophisticated security features to keep you and your money safe.

Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.

As if all that wasn’t enough, there’s a Wise Multi-Currency Card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate, for just a small conversion fee.

Open a Wise account today

💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.

Discover the difference between
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Tips and tricks for avoiding scams

Chime has many different security measures in place to protect your money and personal information, but it's still important to stay vigilant and protect yourself from scams.

• Never share your verification codes or passwords: Anyone asking for your passwords or one-time verification codes is likely a scammer. Chime employees will never ask for these details, even if there's an "urgent problem" with your account

• Verify everything independently: If you get a call, text, or email about your account, don't use the link or contact information they give you. Instead, open your Chime app or visit their website directly to verify any requests

• Use strong security settings: Enable Face ID or fingerprint login, and create unique passwords for your accounts. It's not a good idea to use the same password for multiple banking services

• Monitor your transactions: Check your account regularly, set up transaction alerts, and report any suspicious activity to Chime right away

• Be wary of things that seem too good to be true: Ignore promises of instant money or "cash flipping" schemes, and be wary of job offers that pay high salaries for little work or apartments with unusually low rent

Chime's security features can't prevent you from willingly sending money to scammers, but they can make it easier to spot and stop unauthorized activity quickly.

Bottom line: Is Chime safe?

Yes, Chime is a secure banking option backed by FDIC-insured banks and strong security features.

Just remember that Chime is a financial technology company, not a bank. You may need to use third-party providers like Wise for services that they might not offer, such as international wire transfers.

Sources

1. Chime - Security and control
2. Chime - Does Chime offer international transfers?
3. Chime - Trust and safety
4. Consumer Financial Protection Bureau - CFPB Takes Action Against Chime Financial for Illegally Delaying Consumer Refunds
5. Chime - Does Chime charge fees?