Depositing paper checks: Of all the banking innovations we’ve seen in the past decade, mobile check deposit is my favorite

Depositing paper checks: Of all the banking innovations we’ve seen in the past decade, mobile check deposit is my favorite

When you open a Chime spending account, you’ll receive a Chime Visa Debit Card in the mail. The card is linked to your spending account, online payday loans Rhode Island and is accepted anywhere Visa is accepted. The debit card will also act as your ATM card.

Once you receive the card, call the toll free number to activate it. During this call, you’ll be given the routing and account numbers for your spending account.

ATM Access

Chime has partnered with the MoneyPass ATM network, and you can use any of their more than 38,000 locations free of charge. You can use the ATM Finder feature in the Chime app to find the closest location. (The app is available for both iOS and Android devices.)

Depositing Cash

If you need to deposit cash into your Chime account, you can do so at more than 60,000 retail locations, including 7-Eleven, CVS, Walgreens and Walmart (or any other store within the Green Dot network).

Paper Checks

Most of us don’t deal with very many paper checks, but on the rare occasions when we do, it’s nice to be able to deposit them from our kitchen table via a smartphone (rather than having to trudge to an ATM or physical bank location).

Unfortunately, Chime’s mobile deposit feature is only available to customers who are enrolled in direct deposit and have incoming transfers of $200 or more per month.

If you qualify based on that criteria, you’ll also have to wait 30 days for the feature to be enabled. This could be a major drawback for some customers. Since Chime does not accept deposits via ATM, you may find that you still have to go to a bank (and pay a fee) to cash your paper checks.

Paying with paper checks: There aren’t many situations that require payment by check, but if you need to send one, you can do so using the Chime Checkbook feature. Just fill out the information for the recipient of the check and Chime will mail it anywhere within the United States. It typically takes three to nine business days for the check to arrive, so don’t wait until the last minute. This service is free, but note that there’s a maximum amount of $5,000 per check.

How It Works: Chime Savings Account

You don’t have to open a Chime savings account alongside your spending account, but customers who do will score some valuable perks.


Even if you practice frugal living, saving money can be a struggle. One of the best ways to save money is through automation. Automating your saving habits will enable you to save money before you ever have the chance to spend it. That’s exactly what micro-investing apps like Acorns and M1 Finance do, and it’s what Chime’s Round-Up feature does. For a similar product, check out my Digit review.

When you turn on the Round-Up feature, each purchase you make using your Chime Visa Debit Card will be rounded up to the nearest dollar.

The money is then transferred from your spending account to your savings account when the transaction settles, which is usually one day after it’s made. So, if you spend $ with your Chime debit card at a gas station on Monday, 80 cents will be deposited into your savings account on Tuesday.

There’s no cap to the number of Round-Ups you can utilize; the more you use your Chime card to pay, the more you’ll save. This feature can be toggled on and off at any time.