Chime Spotme® Review: No Fees, Interest and How It Works

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Quick Take: Have you ever tried to pay for something and had that dreaded "transaction declined" moment, leaving you red-faced and stammering? If you want to avoid the embarrassment and inconvenience this can cause, Chime's no fee, no interest SpotMe®1 feature might be what you're looking for.
  • Fees and Interest
  • Funding Speed
  • Borrow Limit
  • Trustworthiness
How did we calculate this?


  • Chime users across all U.S. states have access to the service
  • No associated fees or interest charges
  • Up to $200 allowed to cover debit card purchases or withdrawals with no fees
  • Allows Chime users to receive their paychecks up to two days early, making it a practical alternative to traditional payday loans


  • Users must fulfill eligibility criteria, including a qualifying direct deposit of a minimum of $200 within a 34-day window, and only select users receive the maximum limit
  • SpotMe applies only to debit card purchases and ATM withdrawals
  • Though Chime charges no fees for the service, third-party charges, such as ATM fees, may still apply
  • Reviews from users are mixed, with some reporting difficulty contacting customer support or problems with their accounts

Chime Bank Overview

Chime is a fintech organization offering mobile banking solutions through two FDIC member banks, The Bancorp Bank, N.A. and Stride Bank, N.A. Being purely digital, Chime has no physical branches, with all banking services accessible online or via a dedicated mobile app. 

Key Features

Take a look at some of the features that Chime’s SpotMe has to offer.

Fees and Interest

There are no fees, and Chime charges no interest with SpotMe, giving you plenty of time to top off your account or wait for a paycheck to hit. However, it’s important to be aware that third-party charges could apply if you use an ATM2 that is not part of Chime’s network.

Funding Speed

You won’t have to try a transaction twice or move money from your savings account to cover your transaction–Chime will do it instantly and automatically for you, up to your pre-approved limit.

Borrow Limit

Chime’s SpotMe service covers charges on debit card transactions and withdrawals up to $200 for eligible members, serving as a safety cushion from those nasty surprises where your bank balance unexpectedly goes negative. While $200 may not be enough for all transactions, it is perfect for accidental overcharges on small purchases.


Chime’s partner banks are FDIC members, meaning deposits are guaranteed up to $250,000. However, some customers have expressed frustration with Chime’s customer support, citing difficulty contacting service representatives and slower response time than expected.

How Chime Stands Out

Chime offers its customers a handful of financial products, including checking and savings, the Chime Credit Builder Visa Card3, and the SpotMe feature. Chime’s Checking Account charges no monthly fees, has no minimum balance requirements, and offers the SpotMe overdraft service to qualifying customers with no fees or interest.

With Chime’s early direct deposit feature, users can access their paychecks up to two days early with no fees or interest charges. Chime’s High Yield Savings Account comes with a APY and carries no monthly fees. You must also have a Chime Checking Account to be eligible.

Comparable Chime Options

Want to see what else is out there before committing to Chime? Varo Bank and Aspiration Bank are online banks with similar services.

Varo Bank

Varo Bank, like Chime, is an exclusively online bank offering the same range of banking services–checking accounts, savings accounts, secured credit cards and overdraft loans. Varo’s checking accounts come with no monthly fees, no minimum balance, and the benefit of early direct deposits. Varo’s savings account features between and higher than Chime’s.

Aspiration Bank

Aspiration Bank is another neobank that provides checking and savings accounts, but Aspiration also provides socially responsible investment accounts and allocates a portion of its earnings towards environmental and social causes. Aspiration’s Spend & Save plans have two accounts — Aspiration and Aspiration Plus. Both have a $10 opening deposit, an option to get paid two days early, access to over 55,000 ATMs that have no fees if used in-network, and Purchase Assurance, among other features. APYs range from to .

How To Apply

You can apply for a Chime account by visiting the Chime website or downloading and launching the Chime mobile app. Here’s how to do it.

  1. Locate and click the “Sign Up” button on the website or in the app.
  2. The application will require you to input personal details such as your name, address, Social Security number and date of birth to verify your identity.
  3. You may be asked a few questions pertaining to your job and how you heard about Chime.
  4. Once verified, set up direct deposit or link an existing bank accounts to allow you to fund the account.
  5. After reviewing Chime’s terms and conditions, click the “Submit” button to complete your application.
  6. Expect your Chime Visa Debit® Card4 in the mail after about 7 to 10 business days.

If you’re eligible for the SpotMe service, you’ll be notified in the app.

Who Chime Is Best For

The Chime Credit Builder Visa Card is essentially a secured card with no set limit. Chime allows you to move funds from your checking or savings account to cover expenditures. You can use the Credit Builder card just as you would any other Visa card, and Chime will report on-time payments to the three major credit bureaus, which is a great option for anyone trying to build their credit history.

Final Take

Chime was a relatively early pioneer in the neobank space, and though it has some solid competition, it remains a good choice for anyone looking for a no-fee, no-minimum checking or savings account. The SpotMe feature is a great bonus, as is their Credit Builder card.


Here are more answers to question's about SpotMe from Chime.
  • What is SpotMe?
    • SpotMe is an overdraft feature of Chime bank. If you are overdraft your checking account when attempting to make a purchase, Chase SpotMe will "spot" you the money, up to $200, rather than allowing your transaction to be declined.
  • Does SpotMe cost money?
    • SpotMe is completely free. There are no fees or interest charged on the amount of your overdraft.
  • How does SpotMe work on Chime?
    • Using Chime's SpotMe feature is both easy and efficient. Access to SpotMe requires an active Chime Checking Account and a direct deposit of at least $200. Once you are approved for SpotMe, Chime will determine your initial borrowing limit based on your account activity and risk considerations.
    • After that, use your debit card or make ATM withdrawals as you normally would. If you happen to encounter a situation where you would ordinarily have a transaction denied for insufficient funds, Chime will "spot" you as long as that transaction is within your preset SpotMe limit.
  • How do you get $200 on SpotMe?
    • To qualify for the initial $200 overdraft limit, you must set up a direct deposit of at least $200 into your Chime account and meet certain eligibility requirements that demonstrate your likelihood of repaying an overdraft in a timely manner.

*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

1Chime SpotMe is an optional service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. 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.

2Out-of-network ATM withdrawal and over the counter advance fees may apply. See here for details.

3To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be 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 Anyone 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.

4The Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 4, 2023.

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.


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