Chime vs. Qapital

So, you’re ready to start saving some money but you’re not sure where to start. We get it. Saving money is one of those things that’s tough to get motivated about. On top of this, you may feel like you can’t even afford to save.

The good news is that there are automatic savings apps that can make your life easier and help you get started. To help you figure out where to begin, we’re taking a look at two popular apps: Chime and Qapital.

Read on to learn more about Chime vs. Qapital and see which one of these automatic savings apps is the right fit for you.


If you’re looking for a unique automatic savings app with some extra perks, Chime may be your best bet. Chime is a mobile app that is also a bank account. If you open a (free!) Spending Account, you can also open a Savings Account.

Using Chime, you can take advantage of the Automatic Savings feature. Each time you use your debit card and spend money, Chime will round up that purchase to the nearest dollar and put that money into your Savings Account. Easy, right?

Let’s say you buy some groceries for $46.57. In this case, Chime would put 43 cents into your Savings Account and you’ll pay $47. While this may not seem like a lot of rounded up pennies, all of your round ups can add up fast. In this way, you’re also getting rewarded for spending and your adulting game will stay on point by paying yourself first.

And here’s another major benefit to the Chime app: you can also automatically save the recommended 10 percent of each paycheck. These two features make sure you’re saving on all fronts — when you’re spending money and when you’re getting paid. So, when money is coming in and going out, you’re always setting aside some cash for a rainy day fund.

Perhaps the best feature of all: Chime is completely free and easy to use.


Sometimes when you want to save money you need a little kick in the pants to get motivated. Setting goals can help you out and Qapital has taken this concept to heart.

Qapital is a mobile app that is also a completely free bank account. While it does come with a checking account, Qapital’s Goal-Based Accounts are where you can really set up your savings.

Your money will be held in an FDIC account insured at a partner bank and you can cash out your money at any time (even before reaching a goal). Using Qapital, you can pick a goal and start work toward making it happen.

Let’s say you want to plan a big trip to Italy. You can set that as your goal and create various “savings rules” to help you accomplish your goals. Like Chime, Qapital has a round up rule which rounds up each purchase and pockets the change. It also has a “spend less” rule. For example, if you spend less than $20 at Starbucks, you could pocket the money you didn’t spend  and use it for one of your goals.

There’s also a “guilty pleasure” rule. For instance, if your guilty pleasure is ordering takeout or going shopping, you’d end up saving money every time this happens. For example, you might use this rule and set up a system where you save five dollars each time you engage in your guilty pleasure. For instance, if you order takeout, you can earmark five bucks towards your goals. On top of this, you can customize your own savings rule – like saving five bucks for every time you meditate or go to the gym.

Chime vs. Qapital: Which one is better?

Automatic savings apps are all about making your life easier and helping you save money. Chime and Qapital are both good options. Both of these savings apps are free and easy to use. For this reason, it’s hard to say which one is “better” as it boils down to a personal choice.

Are you looking for something simple that you don’t have to think about? Are you looking to start saving the recommended 10 percent of your paycheck without thinking about it? If so, Chime can help you do this effortlessly. But, if you’re motivated and saving for a specific goal gets you jazzed, then Qapital may be a better fit for you.

In the end, Chime is a good choice if you’re seeking simplicity, while Qapital is great for amping up your goals. You may even want to try out both — Chime to start a rainy day fund and Qapital to save up for your next big trip, while rewarding yourself for hitting the gym.

Whichever you choose, the key is to get started and let these automatic savings apps work for you!

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