Automatic Savings Account Agreement

Eligibility

The member must have an open and active Spending Account and a Savings Account to be eligible to enroll in the following automatic savings features: Round Up Transfers; Save When I Get Paid; and or Round Up Bonus (each an “Automatic Savings Feature”).

Chime (the “Sponsor”) reserves the right to cancel or modify an Automatic Savings Feature, or terminate the member’s eligibility, at any time with or without prior notice.

Opt-in

An Automatic Savings Feature may be activated or disabled by the member at any time under the Settings screen in the Chime mobile app or Website at www.chimebank.com.

Round Up Transfers

How it works

Following the member’s activation of Round Up Transfers, each Purchase made by the member with his or her Chime Visa® Debit Card (“Card”) will be rounded up to the nearest whole U.S. dollar (“Round Up Amount”). Foreign Purchases are rounded up to the nearest whole dollar after the Purchase is converted to U.S. dollars. Once the Purchase transaction settles, the Purchase amount plus the Round Up Amount will be debited from the Chime Spending Account, and the Round Up Amount (between $0.01 and $0.99) will then be transferred to the member’s Savings Account balance (“Round Up Transfer”).  The Round Up Transfer will appear in your Account Statements and your Recent Transactions as a “Round Up Transfer to Savings Account” and “Round Up Transfer from Spending Account,” respectively.

  • What is a Purchase?
    Any settled card present or card not present Personal Identification Number (“PIN”) or signature purchase transaction made using the Chime Visa Debit Card. This includes online transactions made using the 16-digit card number.
  • What is not a Purchase?
    Any cash withdrawal from an Automated Teller Machine (“ATM”) or Over The Counter (“OTC”) cash withdrawal; bill payment transactions using the Chime Checkbook; cash back received at a Point-of-Sale device; Online Transfers between the Spending Account and the Savings Account; ACH Credits initiated from the Chime Mobile App or Website to another bank account you own; and electronic Automated Clearing House (“ACH”) debit transactions.
  • How is the Round Up Amount determined for Purchase transactions made in a foreign currency?
    All Round Up Amounts are based on the U.S. dollar value of the transaction when it posts to your Spending Account.

Transfer Timing

  • One (1) Round Up Transfer will be completed for each Purchase transaction made with the member’s Chime Visa Debit Card when the Purchase transaction settles. A Purchase typically settles within 1 to 3 business days of the transaction date; the timing depends on the merchant’s actions.
  • If a member’s Purchase is canceled or reversed for any reason (including disputes), the corresponding Round Up Transfer will not be reversed.
  • Pursuant to the Savings Account Agreement, Federal regulations limit the number of withdrawals from the Savings Account to six (6) per statement cycle. Any transfers initiated from the Savings Account after the sixth transfer will be blocked until the start of the next statement cycle. If you have reached the transfer limit from your Savings Account to your Spending Account for a calendar month, you will no longer receive Round Up Transfers to avoid limiting your access to funds.

Exceptions

  • A Round Up Transfer will not be made if a purchase transaction consists of a whole dollar amount, e.g., $5.00.
  • If, at the time of settlement of a Purchase, the member’s Spending Account has insufficient available funds to cover the full amount of the Round Up Transfer, the Round Up Transfer will not be made. This does not apply if the transaction is authorized through the SpotMe program. See the Terms and Conditions for the SpotMe program 
  • Retroactive Round Up Transfers are not permitted. This means, even if the member later adds value, or a credit posts to the Spending Account, previously unmade Round Up Transfers will not be posted to the Savings Account

Save When I Get Paid

How it works

Following the member’s activation of Save When I Get Paid, a percentage of each Qualifying Direct Deposit you receive will be transferred automatically from the member’s Chime Spending Account into the member’s Savings Account, immediately after you receive each Qualifying Direct Deposit (“Save When I Get Paid Transfer”). The Save When I Get Paid Transfer will appear as “Transfer to Savings” in your Account Statements and your Recent Transactions.

  • Save When I Get Paid Transfer Amount: Member may select one (1) to ten (10) percent of your direct deposit in the Chime Mobile App. Members may only select whole number percentages.
  • Save When I Get Paid Transfers will only apply to direct deposits of $500.00 or more.

A Qualifying Direct Deposit is any direct deposit received to the Chime member’s Chime Spending Account by an Automated Clearing House (ACH) deposit greater than $500. Pay Friends transfers, verification or trial deposits from financial institutions, transfers from PayPal or Venmo, mobile check deposits, and cash loads or deposits are not qualifying direct deposits.

Round Up Bonus

How it Works

Chime members who meet certain Criteria (as defined below) may be eligible for either a 5% or 10% Round Up Bonus. For members meeting the Criteria (“Bonus Members”), every Friday, the Bonus Member’s Savings Account will receive a reward credit equivalent to either five percent (5%) or ten percent (10%) of the total value of all Round Up Transfers completed on their Account since the prior Friday. The Round Up Bonus is calculated approximately between 10:00 AM and 1:00PM PST. This weekly reward will appear as a “Round Up Bonus” in the Bonus Member’s Savings Account transaction history and statement. The maximum Round Up Bonuses that may be credited between January 1 and December 31 of any calendar year, is $2,000 per Bonus Member.

Criteria

  • To be eligible to receive the 5% Round Up Bonus, you must:
    • Have an open and active Spending Account and a Savings Account;
    • Enroll in the automatic savings feature Round Up Transfers; and
    • Have signed up for Chime through one of the following partnerships:
      • Mobile Doorman
      • Fond
  • To be eligible to receive the 10% Round Up Bonus, you must:
    • Have an open and active Spending Account and a Savings Account;
    • Enroll in the automatic savings feature Round Up Transfers; and
    • Have signed up for Chime through one of the following partnerships:
      • Salesforce
      • Northwestern Mutual

Sponsor: Chime Financial, Inc., of San Francisco, California, d/b/a Chime

Banking Services provided by Stride Bank, Member FDIC. The Chime Visa Debit Card is issued by Stride, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

This Agreement is effective 08/2019

Banking Services provided by The Bancorp Bank 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. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank.

The Bancorp Bank and Stride Bank, neither endorse nor guarantee any of the information, recommendations, optional programs, products, or services advertised, offered by, or made available through the external website ("Products and Services") and disclaim any liability for any failure of the Products and Services.

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