Newest Chime Promotions, Bonuses, Offers and Coupons: October 2022

13-Smile / Getty Images/iStockphoto

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

Chime is a financial technology company that serves as an alternative to traditional banks. It operates an online financial app and offers a simple checking account with no monthly fees and a single savings account. Chime is probably best known for its fast direct deposits, so it might be a good fit if that’s how you get paid. You’ll get your direct-deposited paycheck up to two days earlier1 than with other financial options.

If Chime’s perks are not enough, it also lets you earn extra cash for recommending friends. In these challenging economic times, free money is especially nice. And if you can help a friend by turning them on to a banking product you love, that’s even better.

Chime’s referral bonus offer makes it easy for you to introduce friends and family to its banking services and score up to $1,000 in free cash2. Plus, if you are a user of online rewards sites, you can earn bonus points for joining Chime. Read on for all the details.

A Better Way to Bank

Chime Friend Referrals: $100 Bonus

This Chime promotion is beneficial to you and your friends because you both get $100 if you refer someone who ends up opening a new account2. The amount changes frequently, so if you’re a Chime user, be sure to check your settings to see what’s on offer. You can earn up to $1,000 in referral bonuses per calendar year for as long as the offer is available2.

To take advantage of the Chime offer, you’ll need to have a Chime Checking account. Once you’re set up, follow these steps to begin the referral process:

  1. Log in to your account via the mobile app.
  2. Select “Settings” in the upper left corner of the window.
  3. Tap on “Invite Friends.”
  4. Choose friends from your contacts.
  5. Create a message or greeting.
  6. Tap on “Send.”

You can also share your customized invitation through social media or on your blog by copying the referral link. On the same Invite Friends page, navigate to the top-right corner and tap on “Share.” Copy the link and paste it to share. If your friend opens an account and receives a direct deposit of $200 or more within 45 days of opening the account, you’ll each get $100. Here are a few more details on the promo:

A Better Way to Bank

Chime and MyPoints Offer: 38,000 Points

MyPoints lets you earn points on all your shopping at thousands of top retailers, such as Amazon and Walmart. Users of the site can also claim a bonus of 38,000 points when they sign up for Chime, download the app and receive a direct deposit of a paycheck within 30 days of signing up3.

A Better Way to Bank

Opening a Chime Account

Chime makes opening an account simple. Besides needing an internet connection, mobile phone or computer, you’ll need to be at least 18 years old and a U.S. resident. You can apply through the website or by downloading the Chime mobile app for iPhone or Android. Chime claims the process only takes a couple of minutes.

Is Chime Right for You?

If you do most of your banking online, Chime makes a lot of sense. For one thing, you’ll save money on bank fees.

You’ll also be able to pay most of your bills and transfer money between accounts through the Chime mobile app, and if you’re eligible, you can take advantage of the mobile check deposit5 feature. The referral bonus adds even more incentive because you can get paid for inviting friends to Chime.

If you need to regularly make cash deposits, however, Chime probably wouldn’t be right for you. Chime offers no-fee cash deposits at Walgreens. Deposits made at other locations may be subject to a transaction fee charged by that retailer4.

A Better Way to Bank

Please Note: The retailer that receives your cash will be responsible for transferring the funds for deposit into your Chime Checking Account. Cash deposit fees may apply if using a retailer other than Walgreens.

Julia Gordon contributed to the reporting for this article.

Information on promotions is accurate as of Oct. 6, 2022. Additional requirements may apply. Offers and terms are subject to change. This article was updated to include additional disclosures from Chime.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

This article has been updated with additional reporting since its original publication.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank.

A Better Way to Bank

1 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

2 In order for the referring Chime member (“Referrer”) to qualify and receive the $100.00 monetary referral reward and $10.00 temporary SpotMe Base Limit increase referral reward, and for the referred person (“Referred”) to qualify and receive the $100.00 monetary referral reward, all of the following conditions must be satisfied: (1) Referrer is part of the SpotMe Referral Incentive referral reward campaign; (2) Referred has not previously opened an Account (“Account”); (3) Referred opened a new Account between January 1, 2022 and December 31, 2022; (4) Referred opened the new Account using the Referrer’s unique referral link; and (5) Referred received in the new Account a qualifying direct deposit of $200.00 or more within 45 calendar days of opening. A qualifying direct deposit is a direct deposit from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Friends transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits. Members may earn no more than $50.00 in SpotMe Base Limit referral increase and may earn no more than $1,000.00 in monetary referral rewards per calendar year (January 1, 2022 – December 31, 2022 and January 1, 2023 – December 31, 2023). No member’s SpotMe limit may exceed $200. Any Referrer SpotMe Base limit increase referral reward will expire 184 calendar days from the Referred receiving a qualifying direct deposit. If an eligible Referrer loses Base Limit eligibility, and the Referred completes the above conditions, the Referrer will receive the $10 temporary SpotMe limit increase referral reward only upon regaining Base Limit eligibility. Referral rewards will generally be provided within two (2) business days after all the above conditions are met. The Referrer’s account must be in good standing in order to receive the referral reward. Referred individuals acknowledge that payment of any referral reward may result in the Referrer’s knowledge of the Referred’s establishment of a new Account or enrollment in a product. Chime reserves the right to cancel or modify the terms of any referral reward offer or terminate a member’s eligibility at any time with or without prior notice. Credits of $10 or more will be reported on tax form 1099-INT for new members (Referred). Credits of $600 or more will be reported on tax form 1099-MISC for referring Chime members (Referrers). Banking services are provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC.

A Better Way to Bank

3 See https://www.mypoints.com/discover-offer?id=12332 for details.

4 The retailer that receives your cash will be responsible for transferring the funds for deposit into your Chime Checking Account. Cash deposit fees may apply if using a retailer other than Walgreens.

5Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.