Chime® is an online-only financial technology company that partners with two banks to offer checking and savings accounts. As a neobank, it doesn’t work like a traditional neighborhood bank, but its accounts do have FDIC insurance through Chime’s partner banks, so they’re safe places to keep your money. Chime has no monthly or overdraft fees, and it lets you round up purchases to the next dollar and save the remainder. But it can be expensive to deposit cash.

Penalty for outsized CFPB complaints: NerdWallet deducted 0.5 star from Chime’s overall rating due to the volume of complaints on the Consumer Financial Protection Bureau database relative to the asset sizes of its partner banks, The Bancorp Bank and Stride Bank. For more information about this penalty, see our methodology page. For more context surrounding complaints in previous years, learn about a ProPublica report on how Chime closed accounts involuntarily.

Note: In May 2024, the CFPB ordered Chime to pay millions of dollars for failing to refund consumers in a timely manner when their Chime accounts were closed.