Chime Bank Name: What To Use for Direct Deposit

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

Many Americans are using digital financial institutions, such as Chime, for their primary checking accounts. However, Chime is not actually a bank — it’s a financial technology company — which can cause some confusion for its users when they try to complete basic financial tasks, such as setting up payments or documenting assets for a third party.

Many people use direct deposit to receive their paychecks, and Chime users should know which Chime bank name to provide to employers. If you use Chime, you can use the guide below to figure out which bank name to use and how to set up direct deposit to receive funds early with Chime.

What Is Chime?

Rather than a traditional bank, Chime is a financial technology company that partners with banks to create affordable banking and financial offerings. Its accounts often don’t have annual or monthly fees, overdraft fees or minimum balance requirements. Instead, Chime focuses on creating products that are accessible.

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Chime provides the following benefits and features:

  • Fee-free accounts1
  • Fee-free overdrafts up to $200 for eligible members2
  • Up to 2 days early access to paychecks with direct deposit3
  • Secured credit cards
  • Over 60,000 fee-free ATMs4

Instead of profiting from fees charged to Chime users, the company relies on transactions and the money they make when a member uses their Chime card to make a purchase.

Chime Bank Details

Chime is not a bank. Therefore, The Bancorp Bank, N.A. or Stride Bank, N.A. will provide banking services for your Chime account.

What Is the Bank Name for Chime for Direct Deposit?

You should not use Chime as your bank name if you need to provide bank information for your direct deposit forms. Instead, you will need to check your account to see which bank provides your banking services. 

You can check your bank provider by accessing your Settings on the Chime mobile app or website. Your Account Policies & Terms should list the bank that services your account.

The Bancorp Bank

Bancorp has been a part of the financial industry for over 20 years. It has issued over 150 million active cards and is a leader in the prepaid card sector. Similarly to Chime, Bancorp dedicates itself to providing accessible financial products and creating an inclusive environment.

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The address for Bancorp is:

The Bancorp Bank, N.A.
6100 S. Old Village Pl.
Sioux Falls, SD 57108

Stride Bank

Stride was founded in 1913 and has over $1.17 billion in assets. Stride provides consumer and commercial financial products, such as regular banking, wealth management and mortgages.

The address for Stride is:

Stride Bank N.A.
324 W Broadway Ave.
Enid, OK 73701

How To Set Up Direct Deposit with Chime

Setting up direct deposit with Chime is easy, but the process may vary slightly depending on your employer’s requirements. You may need to gather your bank information, account number and routing number. There are three ways to set up direct deposit with Chime.

1. Find Your Routing Number Manually

On the Chime website, you can click “Move Money” to view your account and routing numbers. On the app, you can tap “Move Money” and then “Move your direct deposit.” Then just share these numbers with your employer on their payroll forms.

2. Download a Completed Form

Chime can also provide completed direct deposit forms. You can either click “Print” or “Download” on the website or “Get completed form” on the app. You can print the form and give it to your employer.

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3. Find Your Employer Through Chime

Finally, the app offers a simple way to set up your direct deposit online. If your employer participates, you can search for your employer by clicking “Find employer” and then following the steps on the screen.

Should I Use Chime for Direct Deposit?

Chime has a 3.7-star rating on ConsumerAffairs. While some users cite issues with Chime’s customer service, others highly rate the benefits that Chime has to offer. Chime accounts have no monthly fees, fee-free overdrafts2, early access to paychecks3 and other features that make its bank accounts desirable.

Bank accounts with Chime are also FDIC-insured up to $250,000, since The Bancorp Bank and Stride Bank are both members of the FDIC. Chime also has plenty of other security features, such as encryption and the ability to disable your debit card to keep your funds safe.

If you’re seeking an online bank account that lets you access your direct deposits up to 2 days early3, Chime is a reputable company with affordable checking and savings accounts. However, if you want to work closely with a financial professional, you may want to seek a bank with more dedicated customer service.

Information is accurate as of Dec. 6, 2022, and is subject to change.

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.

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

1There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.

2Chime SpotMe is an optional service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

3Early 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.

4Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

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About the Author

Taylor DeJesus has been a freelance writer for over five years where she specializes in writing SEO blogs and other online content for small and medium-sized businesses. She has also written books, research papers and more on a variety of topics, ranging from business and marketing to lifestyle. In her free time, Taylor likes to read, spend time with her daughter and achieve personal development goals.
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