Tag: How To

 

Learn How To Avoid Checking Account Fees

Most Americans own a checking account. And most of the banks who offer checking accounts charge a variety of fees for account holders to use them. What are these fees? Is it possible to bank with paying them? Are there alternatives to traditional banks? We will take a close look at these questions and also compare one of the major multinational banks, Chase, with a new online banking option, Chime, to see who comes out on top in the game of checking account fees.

Checking Accounts – What Is The Purpose Of Having One?

A checking account is a kind of deposit bank account that allows withdrawals and deposits. It can be accessed using checks, setting up an automatic transfer, or using your debit card. Consumers use this account for paying bills and making most financial transactions. For this reason they are referred to as demand accounts or transactional accounts. Another factor that sets this account apart from a saving account is the fact that there are no limits on the number of transactions you can complete in a month. Also, it allows you unlimited deposits.

How Checking Accounts Work

There are two ways of setting up a checking account – at a bank branch or through a financial institution’s website. Once they are set up, you are able to deposit funds. Account holders can use ATMs, direct deposit and over-the-counter deposits. As we have already mentioned, accessing funds is a lot easier with a checking account. Account holders can write checks, use ATMs or use electronic debit or credit cards connected to their accounts.

Even easier, they can set up internet or smartphone applications for making deposits or transfers.The majority of consumers are already informed about the advantages of electronic banking. Advances in this field of banking have made checking accounts more convenient to use. Paying bills via electronic transfers eliminates the need for writing and mailing paper checks. Also, it is possible to set up automatic payments for routine monthly expenses.

What To Consider Before Opening A Checking Account

First, it is good to know that banks often offer different versions of the account for different types of clients. This is the first thing that makes a difference in finding the right bank. There are many features to consider before opening a checking account.

Fees: The best account will have no fees or low fees, if possible. Try to find accounts with little to no monthly maintenance fees and large ATM networks tol help you avoid becoming a victim of fine print and ending up with hefty fees.

Service Charges: Banks make much of their money by charging fees, and they can charge you for any number of things. For example, there are charges for duplicate bank statements, PIN generation, demand draft, and account balance updates, among other things.

The best solution to avoid paying non-recurring fees is to explain the situation to the bank. This is a potential option in the case that you are a customer of a big bank. Customer service representatives at big banks are often authorized to overturn hundreds of dollars in charges if you ask them to cancel the charge. However please be aware of one thing – these are usually one-time deals.

Overdraft Protection: Why is it important to choose an account with a lenient overdraft policy? In a situation where you have spent more money than is in your account, the bank may cover the difference. This is known as overdraft protection.

Overdraft protection is one way in which banks make a lot of money to the detriment of its account holders. The less you know the better for the bank. Many banks don’t tell customers about charging for each transaction that leads the account to use an overdraft. For example, if you overdraft your account, you will be charged an overdraft fee for that particular purchase as well as for each subsequent purchase after you’re in the red.

This is not all, be aware of something else. According to the account holder agreement, many banks have provisions stating that in the event of an overdraft, transactions will be grouped in the order of their size, regardless of the order in which they occurred. At the end of the day, the bank will charge a fee for each of the transactions on the day the account is overdrawn. If you do not cover the amount, your bank may also charge you daily interest on the loan.

You can avoid these fees if you choose to link your checking account to another one of your accounts, such as a savings account or line of credit. Another way is by opting out of overdraft coverage.

Electronic Funds Transfer: With an electronic funds transfer (EFT), it’s possible to have money directly transferred into your account without having to wait for a check to come in the mail. Additionally, when you use your debit card to make a purchase at a store or online, the transaction is processed using an EFT system. Most banks no longer charge to make an EFT.

Direct Deposit: Direct deposit is another form of electronic funds transfer and another feature from which banks are able to benefit. This feature allows your employer to electronically deposit your paycheck into your bank account. Direct deposit is important since it gives the bank a steady flow of income to lend to customers. Because of this, many banks will give you free checking if you get direct deposit for your account.

ATMs: Be aware of fees that may be associated with the use of ATMs. ATMs make it convenient to access cash from your checking account or savings after hours. However, sometimes using an ATM from another bank could result in surcharges from both the bank that owns the ATM and your bank. Nevertheless, surcharge-free ATMs are becoming even more popular. They can be as much as $5 or more in different parts of the country.

Cashless Banking: The debit card provides the ease of use and portability of a major credit card. Anyone who uses a checking account knows how important it is to keep it safe. Many banks offer zero-liability fraud protection for debit cards. This is one way of fighting against the identity theft and a good way to protect your account.

Interest: Those who were thinking about opening an interest-bearing checking account should be prepared to pay plenty of fees. If you can’t maintain a minimum balance, you’ll have to pay a monthly service fee. This minimum amount is typically the combined total of all your accounts at the bank, including checking accounts, savings accounts, and certificates of deposit.

Chase vs. Chime

Chase

Chase is the consumer and commercial banking subsidiary of JPMorgan Chase & Co. It is one of the four largest banks in the United States. Chase does offer basic checking and savings accounts that may be an option for second chance banking customers. The opening deposit fee is $25, and the maintenance fee is $12.

However, you can waive the monthly fee if you meet the required criteria:

  • Direct deposits totaling $500 or more made to this account
  • OR, a balance at the beginning of each day of $1,500 or more in this account
  • OR, an average beginning daily balance of $5,000 or more in any combination of this account and linked qualifying deposits/investments

Chase ATM Fees

That’s just the beginning. When it comes to ATM´s, the situation is pretty much the same. If you have a checking account at Chase bank you will have to pay these fees when using ATM from a different bank:

  • $2.50 for any inquiries, transfers or withdrawals while using a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Fees from the ATM owner still apply
  • $5 per withdrawal and $2.50 for any transfers or inquiries at ATMs outside the U.S., Puerto Rico and the U.S. Virgin Islands. Fees from the ATM owner still apply

Chase Overdraft Fees

What will happen in case you don’t have enough money in your account, or it is already overdrawn? Chase will charge a fee. In case of insufficient funds, Chase pays an item and then will charge you $34 for each item (maximum 3 Insufficient Funds and Returned Item Fees per day). However, they will not charge you in certain situations:

  • If your account balance at the end of the business day is overdrawn by $5 or less
  • They will not charge these fees for any item that is $5 or less, even if your account balance at the end of the business day is overdrawn

Chase will return an item when your account doesn’t have enough money and charge you $34. In the case where they return the same item multiple times, you will be charged the Returned Item Fee only once for for that item within a 30-day period. The good thing is that these fees do not apply to withdrawals made at an ATM.

It is important to know that you can avoid overdrawing your account by making a deposit or transferring funds to cover the overdraft before the business day ends. Here are the options, the places where you can do it:

  • At a branch before it closes
  • At an ATM or when using the Transfer Money option on chase.com, Chase Mobile, or using Chase QuickPay, with Zelle, before 11 p.m. Eastern Time (8 p.m. Pacific Time)

Chime

Chime is an online-based account. There are no brick and mortar locations. Rather, all business is conducted through the internet platform or mobile app. It is free to open a Chime account, with no monthly fee required. That means you aren’t required to put any money in to start or to keep a certain amount of money in your account to avoid a monthly fee.

There are no ATM fees to use a Chime issued Visa debit card, so long as you use one of the 60,000 approved machines around the country. There are also no overdraft fees to worry about. If an account is in danger of going into the negative, Chime will simply decline the transaction. No charge, no punishment.

You Can Find A Way Around Banking Fees

This world is full of opportunities. Advances in electronic banking and banking, in general, should make our lives easier. So it makes sense to consider the option of online banking, like Chime. There is convenience as well as the benefit of no banking fees.

 

How To Avoid Checking Account Fees

Financial institutions and retail banks offer checking accounts, also known as a demand accounts or transactional accounts, to allow account holders to access money using checks, cash withdrawals, automated teller machines (ATM), or electronic debit cards. It simplifies the transactions for individuals with its accessibility and automated deposits, payments, and withdrawals. However, some banks charge their account holders a checking fee for their checking accounts. These fees may range from $4 to $20, it varies depending on the bank and nature of checking account.

MyBankTracker, a website that provides financial services and aids to consumers, conducted a survey in 2017 concerning the checking account usage in the United States. They found that 13,347 or roughly 67% of 21,186 respondents had less than $1,000 available in their checking accounts. Moreover, the data showed that Americans contributed an approximate $3.5 billion in monthly service fees to the top U.S. banks – Bank of America, Citibank, Wells Fargo, Chase, and U.S. Bank. Additionally, the average monthly fee for checking accounts of multinational banks is $10.99 a month, while the minimum maintenance balance to waive the checking fee is $1,500.

Avoiding Bank Fees

Generally, the primary way to avoid monthly bank fees is to maintain the required minimum balance in your accounts. The minimum balance requirement of most banks in the United States for standard checking accounts is anywhere from $100 to $1,500. Additionally, account holders can waive fees through the following methods:

  1. Direct Deposits – direct deposit is the electronic transfer deposit from an employer or benefits provider (social security or pension) to the account of the recipient. Many banks will waive monthly fees if the account holder makes a certain number of regular deposits.
  2. Debit Card Purchase – account holders can often waive monthly fees by making a certain number of purchases or payments using their bank issued debit cards.
  3. Customer Age – many banks do not charge fees to customers under the age of 21. However, once they attain the legal age, financial institutions will require payment on their accounts. Some banks offer a variety of checking account especially for teens with provision from an adult.
  4. Overdraft Protection – banks have mechanisms in place to prevent account holders from spending more money than they have. Those mechanisms often require hefty fees, though. The best way to avoid them is to opt out of overdraft protection and to link your checking account with a savings account or line of credit to cover any instances of overdraft.

Comparing Two Banking Options

The question becomes, is it really possible to use banking services in the United States without paying checking account fees. We will now take a closer look at two banking options to see what consumers face. The traditional bank, Wells Fargo, offers services similar to its main competitors and charges a variety of fees to do so. The modern non-traditional banking account, Chime, offers the same kinds of services but does so without fees or brick and mortar locations.

A Closer Look At Chime Accounts

Chime offers an alternative to traditional banking. These accounts operate entirely online. There are no brick and mortar locations. As a result, there is virtually no overhead for Chime to operate. This equates to no fees for account holders. Customers can open both checking and savings accounts. They can make deposits, do online bill pay, transfer funds, check balances, and budget their finances all online. Chime also issues Visa debit cards for customer use. Chime offers an online platform as well as an award winning mobile banking app. So account holders can access their accounts any time and from anywhere.

Chime has no minimum opening deposit, no monthly maintenance fees, no minimum balance requirement, no overdraft fees (charges are simply declined if they would put an account in the negative), no ATM fees (for in-network withdrawals), and no card replacement fees. There are no hidden fees either.

A Closer Look At Wells Fargo Accounts

Wells Fargo offers five different personal checking accounts to its account holders — Opportunity Checking, Everyday Checking, Teen Checking, Preferred Checking, and Portfolio. All types of Wells Fargo checking account require a minimum of $25 deposit to open and conditions to waive the checking account fees.

Opportunity Checking

This checking account comes with online banking where account holders can view their balances, transfer funds, and statements online. They also have free access to the Wells Fargo Online Banking with BillPay and My Spending Report with Budget Watch to track their finances and expenditure. Wells Fargo also offers a platinum debit card for everyday purchases and bill payment for participating retail shops and providers online or via smartphones and tablets. Account holders also get free access to Wells Fargo branches and ATMs nationwide. Opportunity Checking guarantees a zero liability protection for unauthorized debit transactions, 24/7 fraud monitoring, account alerts for low balances and suspicious activities, and a debit card with a unique security code for fraud protection.

The Opportunity Checking is best for lower account balances with the lowest monthly service fee, and individuals who are unable to open standard accounts. The minimum opening deposit for Opportunity Checking is $25, while the monthly service fee is $10. However, account holders can waive the monthly service fee during each period with:

  • A minimum daily balance of $1500, or
  • Direct deposit with a sum of at least $500, or
  • At least ten debit card payments which include purchases using signature, PIN, online, and phone or mobile wallet. Wells Fargo does not include ATM and ACH (Automated Clearing House) in debit card transactions.

Everyday Checking

Everyday Checking is suitable for a variety of customers including college students from 17 to 24 years old with low account balances. It offers online bill payments and transfers, mobile deposit, security-enhanced chip platinum debit card, text banking, budgeting, expenditure, and cash flow tools, 24/7 customer service, text banking, and access to ATMs. Everyday Checking also includes Wells Fargo Mobile where account holders can check their balance, pay bills, or transfer money through smartphones and tablets via the Wells Fargo Mobile application. Moreover, the members can send money to anyone with a bank account from the United States without sharing their account numbers.

The minimum opening deposit for Everyday Checking is $25, and the monthly service fee is $10. To waive the fee, account holders have the option to do one of the following each statement period:

  • The principal account holder is 17-24 years old. Wells Fargo will impose the standard monthly fee on the 25th birthday of the account holder, or
  • A minimum of $1,500 daily balance, or
  • At least ten debit card purchases and payments, or
  • A total of at least $500 direct deposit from pension, social security, or salary, or
  • A linked Wells Fargo Campus Debit Card or ATM for college students.

Teen Checking

Wells Fargo offers a Teen Checking account for adolescent individuals from ages 13 to 17 (ages 13 to 18 in Alabama) with an adult account co-owner. It allows teens to spend money using their debit cards or ATMs independently with the proper guidance of their parents in withdrawals and purchases. Some benefits that Teen Checking holds for its primary owners are 24/7 online access to manage their accounts, accessibility of money management tools to develop their budgeting skills, and an online alert and notification via text message or email. Parents have the ability to evaluate the account activities of their child, transfer funds from their account to their child’s, and to enroll in the optional Overdraft Protection from their Wells Fargo savings account to avoid unintended overdrafts.

There is a $15 overdraft fee for every deficiency on Teen Checking account. The minimum initial deposit to open a Teen Checking account is $25, but there is no monthly service fee.

Preferred Checking

Preferred Checking is appropriate for customers who want to earn interest, who maintain higher account balances, and Wells Fargo Home Mortgage holders. Account holders can earn interest with a balance of at least $500 in their checking accounts and can receive a discount of $10 on personal style checks. It comes with a security-enhanced chip platinum debit card, 24/7 customer service, online bill payments and transfers, mobile deposit, tools for the budget, expenditure, and cash flow, and text banking.

There is a minimum $25 initial deposit to open a Preferred Checking account and a $15 monthly service fee. Wells Fargo can waive the charge if the account holders meet one of the following during the statement period:

  • A total of $10,000 in minimum deposit balances, or
  • A sum of at least $1,000 direct deposits from social security, salary, and pension, or
  • A connected Wells Fargo Home Mortgage.

Portfolio Account

This type of checking account is designed for customers who carry high balances. It has an interest rate discount on personal loans, home equity credit (subject to approval), and auto loans. It also comes with a personal credit card from Wells Fargo Visa, chip technology-enhanced platinum debit card, and an annual relationship bonus for Wells Fargo Propel World American Express Card. The Portfolio Account has no monthly maintenance fee for secondary linked accounts, no fee for bank services including Wells Fargo Personal Wallet checks, Overdraft Protection advance fee, and money orders. There are also added benefits, particularly for customers with a total qualifying balances of at least $250,000 or the Wells Fargo Plus holders such as waived fees for services, reimbursement of ATM fees, and no Overdraft Protection transfer fee.

The minimum initial deposit for opening a Portfolio Account is $25, and there is a monthly service fee of $30. Wells Fargo can waive the service fee if the customer meets one of the following requirements during the statement period:

  • At least $25,000 in qualifying connected bank deposit accounts, or
  • At least $50,000 qualifying linked brokerage, credit, and bank balances.

Can Those Pesky Fees Be Avoided?

It appears that there is a way to avoid fees associated with checking accounts. One way is to follow the advice of always maintaining a positive balance in your account. Even if you do so, though, you could still be hit with some other hidden fees from your traditional bank. Another option is to open a non-traditional banking account with Chime. With this type of account, you will never have to worry about a negative balance or about hidden fees. There simply are none.

 

How To Get Paid Two Days Early Than Others

Doesn’t everybody get tired of waiting for days for their paychecks? Or getting frustrated when they are late paying the bills because of delayed paychecks? If so, how do the words ‘get paid up to 2 days faster’ sound?!

It’s safe to say that most employees don’t like the feeling of waiting too long for their hard-earned money to come in. Sometimes paychecks are even lost in the mail or stolen. It only adds to their waiting time if the employer has to replace the paycheck, adding to frustration. So how could hardworking employees avoid this? Get paid fast and early, that’s how.

Direct deposit is a solution to cut the waiting time for a paycheck. These are some of the reasons why a direct deposit is better than a regular paycheck:

  1. It is faster. Once the employer deposits the pay of the employees, it will be electronically transferred immediately to their bank accounts.
  2. It is convenient. Employees who choose to use this method do not need to wait for their paychecks to come in the mail, then get in line at the bank to deposit it. With early direct deposit, the money is already cleared and ready to withdraw.
  3. It is accessible and efficient. People can access and control their accounts with the use of their mobile banking apps whenever and wherever they are.
  4. It is safe. People do not have to worry about paychecks getting lost. Every transaction is electronically-generated.
  5. It’s basically free with many bank accounts.

Everyone should be reminded that to take advantage  of the direct deposit feature, one should have a bank account. Before opening an account, the consumer should also think about the different banking fees. Major banks impose different rates for these fees. For those consumers who do not have extra money to pay for them, they could just open an account with Chime, an online banking account. Chime does not charge monthly fees and there are no hidden charges, so it’s a great alternative to traditional banks.

How does direct deposit work exactly?

When the Federal Reserve accepts the payroll submitted by the employer, it notifies the banks regarding employee salary. It is then up to the banks whether to release it earlier or exactly on payday. Most major banks wait for the actual payday but Chime is one of the fastest banking accounts, making the deposit of pay up to 2 days faster.

This is possible because of Chime’s Early Direct Deposit feature. If a payday falls on a Friday, employees with a Chime account usually receive their pay on Wednesday.  Account holders can make saving more money possible with the Automatic Savings program which allows users to automatically transfer 10% of their paycheck to their savings account every time they get paid.

Consumers should seriously consider receiving pay through direct deposit. Overall, it is convenient, safe, and fast; especially for Chime account holders who get paid faster with their account than others who bank elsewhere.

 

How to Build a Budget for Your Dream Job

If you hate your job or just aren’t fulfilled, starting your own business can sound really tempting. But, before you get ahead of yourself: launching a business comes with its own set of challenges.

For starters, you’ll need to factor in expenses, like paying for new software, buying insurance, outfitting an office, and even outsourcing certain tasks. Your income can also be spotty, especially when you’re just starting out. And, let’s not forget: unpredictable income can throw off your own personal finances.

So, what to do if you’re still nervous about branching out on your own? We’ll show you how to save money and build a budget so you can afford to work in your dream job. Read on to learn more.

How much money do you need each month?

In order to know exactly how much you need to save, you’ll first need to tally up your monthly living expenses.

If you already have a budget, this will be pretty easy. Just add up all of your line items to see how much you can spend and save each month. Voilà. If you don’t have a budget, this will be a little more challenging.

Take 20 minutes or so to tally up all of your monthly recurring expenses — bills, food, clothing, entertainment, etc. Then, add up any monthly savings you already have (such as for pets or education), as well as the monthly share of your infrequent bills (like semi-annual car insurance payments or annual life insurance premiums).

Gold Plan: Create a Runway

Far and away, the best way to budget for your dream job is to save up a cash cushion of at least six to 12 months’ worth of your living expenses. People in the startup world call this a runway. That’s because it’s essentially just a long period where you can focus on launching your new business without having to worry about being derailed by money troubles at home.

It sounds like a lot of money, and indeed it is, and doubly so if you’re starting from scratch. But if you can shave off expenses from your budget and commit to setting aside a certain dollar amount each month (plus any extra income), you’ll get there even sooner.

Silver Plan: A Mini Runway

Alright, so we realize that saving up a years’ worth of expenses is out of the question for some folks. If you can do it, then all the more power to you.

But if you can’t, the second-best option is to at least save up a few months’ worth of expenses. Ideally you’d have at least this much money in your emergency fund all year, even if you’re earning a stable income.

A shortened runway or savings buffer of at least a few months’ worth of income may not allow you the full freedom of a years’ break from money stress, but it will at least provide you a little bit of time.

Bronze Plan: Earn at Least What You’re Making From Your Day Job

Pretty much any responsible financial adviser will tell you that you need to save something before you quit your day job.

But, even that’s not always possible. Sometimes you lose your job for whatever reason — maybe it was a temporary position, maybe you were laid off, or maybe even fired (womp womp).

If you’ve already been hustling on the side, one option is to take your side hustle full-time and turn it into your own business. In this case, it’s best to already be earning the cost of your monthly expenses, solely from your side hustle. So if you need $2,500 per month to get by, you’d want to make sure you’re at least earning that much from your day job before you take the leap.

Again, it still sounds like a lot of money and it is. But if you’re down to this last option with no savings to sustain you while you launch your business, you need to be sure that you can earn a full-time income first. And the best way to ensure that this happens is if you’re running an existing side hustle. If not, you don’t need to abandon your hopes of a dream job quite yet. Instead, a better option might be to find another job now just to pay the bills. You can still focus on growing your business on the side, but think of it as using your day job to support your business until you have enough savings to safely take your business full-time.

You Can Do This

Budgeting to launch your dream career as a business owner sounds like tough work. But it’s the best way to give your business a fighting chance.

By planning ahead and saving up for your leap, you can sustain losses and wonky paychecks until your business is established. You won’t need to shut down at the first bad month you have because you won’t be able to afford your rent, for example.

Owning your own business is challenging, but you can do it — especially if you get your personal finances in order first.

 

How to Prepare for Holiday Travels

If you’re like me, any mention of the holidays in September is likely to make you cringe. “Too soon!” your mind screams.

But tell that to your wallet. And your bank account. The holidays may seem far away but you know how time works in adult years…basically the season of visiting your relatives will be here tomorrow.

Luckily for you: we’re here with a friendly nudge to get your financial butt in gear and prepare for holiday travels.

What should you consider before booking a flight?

Booking flights for holiday travel should never be a haphazard affair. It requires some thought and research to make sure you’re getting the best rate. Holiday flight prices can be truly scary, so to find the best prices, here’s what you need to consider:

  • What airports are nearby?
  • Are your dates flexible?
  • Will you need extra luggage space for gifts?
  • What is the baggage policy?
  • Do you have credit card points that you can use to cover or offset this trip?

By searching different airports and dates, you may be able to save some serious money. For example, I booked a flight recently and the difference between flying out of Los Angeles compared to Burbank was more than $100. Another pro tip: consider flying out on a red eye or flying on the day of the holiday for better deals. I’ve done both, and while not super fun, I did save money and still arrived in time to celebrate with family.

And, here’s another thing to think about: if you know you’ll need to check your bag(s), research baggage fees ahead of time. This way you’ll know what to expect and can plan for the possible added expense. Lastly, check your credit card to see if you have miles or cash back that can offset this trip. Depending on the card, you may also have other travel perks like access to an airport lounge or waived baggage fees.

How far in advance should you book your flight?

Finding the best flight price can be a little tricky but buying at the last minute during the holiday season is definitely a no-no. So, when exactly should you book your flight for your holiday travels?

According to travel site SkyScanner.com, booking flights for the holidays is cheapest in September. In September, prices are on average, 5 percent cheaper. And, booking 14 weeks before Christmas – the week of September 17 – is the best week to book flights. If booked during this time, you’ll score an average of 7 percent in savings.

To get the best deal, you can also set up a price alert using SkyScanner or Google Flights. CheapAir also has a calendar of some of the best days to fly if you’re traveling for Thanksgiving and Christmas.

What time should you book your flight?

According to the Holiday Flight Report created by CheapAir, the best time to buy for Thanksgiving is in August or September. For Christmas – as shown above – the best time is in September.

If you want to go a step further, the best day and time to book your flight may be a Tuesday around 3 p.m., according to FareCompare.com.

How much should you budget for holiday travel?

Holiday flights are always more expensive because the demand is so high. Airlines know people will be traveling during this time and they can charge a premium.

Even buying at the best time can still be fairly expensive. According to The 2018 CheapAir Holiday Flights Report, you can expect to pay around $400-$500 per flight on average.

On top of that, you’ll want to consider your accommodations. Will you have a place to stay or will you need to book a hotel or an AirBnB? You will also want to budget for any activities and entertainment during your time away. And, of course, make sure to budget in the amount you may need to spend on gifts once you arrive at your destination. Indeed, the amount you need to save for your trip will depend on your particular situation.

Regardless, holiday travel is pricey, so start saving up now! Using Chime, you can save easily with our Automatic Savings program. You can also save effortlessly when you spend money with our round up option.

Another tip: set aside a portion of your paycheck for your holiday travels. I have a savings account that I named “Travel Fund” and I set aside money each time I get paid. Having that money in a special account helps minimize stress during the holidays — which let’s face it, on its own is fairly stressful, even without all the extra costs.

Remember: the holidays are all about spending time with family and getting some much-needed down time. You don’t want to add debt to the mix so saving now can help you avoid using credit to pay for something you can’t afford.

Final word

You may think it’s too soon to start thinking about holiday travel plans, but in reality it’s never too early to start saving for the holidays. Being prepared and booking flights early can help you score the best deals and avoid the stress of scrambling at the last minute.

To boot, a little preparation, budgeting, and booking ahead can save you future headaches and allow you to enjoy the holidays — without worrying about money.

 

How to Make Your Life Work with Two Jobs

We talk a lot about saving money, but there’s another big way to improve your personal finances: Make more money. Working a second job can be a good way to do that, and a new study finds workers with two jobs perform just as well as colleagues with one job.

But moonlighting comes at the expense of personal and family time, the study published in the Journal of Business and Psychology finds. The study, led by Brian Webster, an assistant professor of management at Ball State University, looked at the job performance and engagement of a sample of bartenders and teachers who moonlighted in a range of jobs.

Webster believes successful moonlighters understand their employers expect them to be focused at work.

“There seems to be that recognition that if I’m at work and I’m doing this, I’m going to perform adequately,” he said.

If people can’t perform, they leave. Webster noted the study didn’t look at people who used to moonlight, but stopped.

This is good news for employers, who can count on their workers being focused, but that extra time and energy has to come from somewhere, and that somewhere tends to be family, the study finds. Only about 4.9% of workers have multiple jobs, according to the Bureau of Labor Statistics, but over the course of a lifetime, many people could find themselves moonlighting, Webster said.

So how can moonlighters find a healthy balance?

How moonlighting affects you

People moonlight for two reasons, Webster said: To make more money or to do something they enjoy, like an accountant teaching a class on weekends. Warren Robbins, senior sales associate for Policygenius, found himself needing to do the former in 2015, when he took a job as a bartender while working full-time at a health insurance company.

Robbins had just learned his partner, now his wife, was pregnant. The pregnancy wasn’t planned, and the two decided they needed more money.

His solution was to take a second job. Robbins worked 8 a.m. to 5 p.m. Monday through Friday at his day job and took on two overnight shifts at a bar, from Saturday night into Sunday and Sunday night into Monday at 4 a.m.

“My sleep schedule was all messed up,” he said.

The beginning of the week was tough, Robbins said. He would sleep all day Sunday after getting off work early that morning, work a night shift at the bar and then get to the office on maybe four hours of sleep.

His focus and drive at work suffered. So did his personal life.

“It was tough,” Robbins said. “I never saw my wife, and if I did, it was after work on a weekday. We never got to spend quality time.”

The only moments he could take for himself were during closing time, when he would pour himself a Guinness, lock the door and count the money as the sun rose.

How to find balance

Moonlighting can be stressful, but there are ways to make it better, said Paul Gionfriddo, president and CEO of Mental Health America. The first is to get enough sleep.

Sleep deprivation can take a toll on your mental and physical health, he said.

Also, take time each day to rest and recharge to relieve any stress from work.

“It’s free to sit back for 15 minutes and just rest,” Gionfriddo said. “It’s free to spend 20 minutes and take a walk.”

Find even a short amount of time for something you want to do, whether it’s family or a hobby, as a break from people telling you what to do, he said. If work becomes life and life becomes work, you can lose sight of who you are and who you want to be.

It’s important to be able to say why you’re working so hard, whether it’s to save for a trip, or support your family or retire early, he said.

“If you lose purpose in what you’re doing, then you’re in a real downward spiral that can lead to some real serious mental health problems,” Gionfriddo said.

You may not notice the signs of a problem, he said. You don’t necessarily have to feel suicidal to be clinically depressed.

If you feel excessively tired, or your eating habits suffer, those could be signs your mental health is suffering, Gionfriddo said.

“A lot of these things happen on a continuum,” he said. “It’s not that one day I have depression and the day before I didn’t.”

The Mental Health America website has free and anonymous screening toolsthat can tell you whether it’s likely you have a mental health condition like depression or anxiety. The tools also offer more information on mental health conditions, referrals to services, self-help tools and engagement with other people who may have the same condition.

If you do have a diagnosable condition, the law offers protections against being fired or disciplined for that condition, Gionfriddo said.

“There’s no shame in having a mental health condition or concern, even a diagnosed one,” he said. “In fact, the sooner you seek help for it if you think you need help, the quicker your recovery and the more likely your recovery is going to be.”

Before moonlighting, you may want to talk to your boss to see if your current schedule can bend enough to take on a second job, Webster said, or try to find a second job flexible enough that it won’t strain your existing schedule too much. You may also want to look for a second job that complements your existing job.

“If you enjoy what you do, the two jobs might benefit or contribute to each other in some way,” he said.

Robbins only moonlighted for three months. The birth of his son made his second job impossible. He wouldn’t moonlight again, given the choice.

“It was this period where you would get revived just to get depleted again,” he said. “I would never do that again.”

A second job isn’t the only way to boost your savings. Try making these small changes.

If you or anyone you know is experiencing suicidal thoughts please call the National Suicide Hotline at 1-800-273-8255 or contact them online.


This article originally appeared on Policygenius.com.

 

How to Pay off Debt Fast: Two Methods You Need to Know

Sad but true: if you have debt, you know that the balance in your savings account can be more of an illusion. It often seems like there’s an underwater glacier that’s pulling any net balance in your account to a negative.

But no need to despair. There are some tactics to help you methodically pay off money owed.

For instance, you may have heard the terms “avalanche” and “snowball” debt repayment methods tossed about. No, it doesn’t involve hiding out in a snowy mountain range until your debt load magically disappears, although that would be pretty awesome. Instead, these are two common tactics to pay off your debt, whether you have student loans, credit card debt, personal loans, car loans, and so forth.

As September is the Month of Budgeting here at Chime, we are taking a deeper dive into these two popular debt repayment strategies. Read on to learn more about  the pros and cons of both, and from there you can figure out which budgeting method is best for you.

Avalanche Debt Repayment Method

With the avalanche debt repayment method, you will first make the minimum payments on all your debts. You will then focus on tackling the debt with the highest interest rate, paying the minimum payment plus extra payments each month. After you’ve crushed the first one, you then take the money you would use to pay off that debt and move onto the debt with the next-highest interest rate. (Note: we highly recommend setting up automatic savings, so you don’t spend the money you need to pay off your debt.)

To keep things simple, let’s just focus on credit card debt. Let’s say you have three credit cards, each with varying balances and interest rates:

Card A – Balance: $800, Minimum Payment: $50; Interest Rate: 25%

Card B – Balance: $2,000, Minimum Payment: $45: Interest Rate: 22%

Card C – Balance: $500, Minimum Payment: $40: Interest Rate: 20%

Because you’re doing the avalanche debt method, you’ll first make minimum payments on all three cards. In this scenario, you’d then also throw down $200 each month toward the credit card with the highest interest rate (in this case Card A with an interest rate of 25%).

After you’ve finished paying off Card A, or “mother lode interest rate (25% APR)” card, (congrats, btw), you put the minimum payment on Card B ($45) and Card C ($40), plus an extra $200 toward Card B (with the second highest interest rate of 22%.) Once you’ve paid off Card B, you’re left with Card C to pay off.

Pros

  • Pay off your debts faster. Because you’re throwing down larger chunks of cash toward your debt, you’ll make faster headway.
  • You save more money on interest. Because you’re tackling debt that costs you more in pesky interest rates (they add up quickly, trust me), you’ll be saving more moola.

Cons

  • Depending on your situation, you may not be able to afford to make the minimum payments, plus extra every month. If you do, it may not feel like you’re making much of a dent.
  • If the balance with the highest interest rate happens to have the largest amount of debt, it could it could take months to pay it off.

Snowball Debt Repayment Method


With the snowball debt repayment method, you will also make the minimum payments on all your debts. But there are two major differences between the snowball and avalanche repayment methods.

1. Instead of focusing on interest, you make payments based on your balances.

2. Instead of first paying off the debt with the highest interest rate, you start with the one with the lowest balance.

So, to illustrate this, let’s use the same three cards as we did with our Avalanche Debt Repayment example:

Card A – Balance: $800, Minimum Payment: $50; Interest Rate: 25%

Card B – Balance: $2,000, Minimum Payment: $45: Interest Rate: 22%

Card C – Balance: $500, Minimum Payment: $40: Interest Rate: 20%

In this case, you’d start with making extra payments on Card C (balance of $500) until it’s completely paid off. Next, you’d take the extra monthly payments you were making on Card C and put them toward Card A, which is the card with the next-highest balance (balance of $800). Once Card A is paid off, you then put all your efforts into Card B (balance of $2,000).

Pros

  • You enjoy wins early in the game. It’s quite motivating to knock out your first debt.
  • Because you’re focusing on the debt with the smallest balance, you can make greater strides with less money.

Cons

  • The biggest downside of the snowball method is you don’t save as much in interest. In other words, you’ll be paying more.

So which method is best? In the realm of social science and human behavior, research reveals that even though rationally we may want to save more, most people stay more motivated by taking care of the debts with the smaller balances.

That being said, it’s still ultimately up to you to decide. We’re not here to sway you one way or the other. Like all things in personal finance, there’s no one-size-fits-all solution. It really depends on what motivates you the most. Would you rather save more in interest, or knock out the smaller debts first?

Tips on Getting Started

Ready to nip your debt in the bud? Here are some pointers on kick-starting the process: 

  • Add up all your debts. Once you’ve decided which repayment debt plan you’d like to go with, tally up all your debts so you can see your balances, interest rates, terms, and fees. Pro tip: there are lots of money management and money-saving apps that allow you to view your debts at-a-glance. The key here is to figure out which debt to tackle first. If it’s been a while since you’ve paid close attention to a particular account, reach out to a representative and get the deets. This will help you make an informed decision.
  • Track your progress. There are a ton of creative ways to track your progress, including a debt payoff thermometer, a Pac-Man style board game where each square or circle represents a certain amount of cash, and you color in each square as it gets paid off.
  • Open a savings account once your debt is paid off. Once your debt is paid off, you can take your money and throw it toward whatever you like—vacation, splurge fund, a car, and what have you. Just make sure you open a savings account for your new goal. This way you can ensure you’re making steady headway.

You Got This

No matter which debt repayment method you choose, here’s the thing: the fact that you’re making it a priority is king. And by keeping debt payoff top of mind, you’ll be on your merry way to crushing it.

 

How To Manage Your Money With Chime’s Mobile Banking App

Let’s face it — managing your money isn’t something that you’re taught in school (but learning about isosceles triangles sure came in handy.) Yet, learning how to manage finances is key to proper adulting.

Indeed, the best way to manage money can seem like a process of trial and error. But here’s a secret: using the right tools can make it much easier. That’s right. There are financial tools out there that can help you learn how to manage money and simplify the whole process.

Where should you start? With your bank. You may not realize it but your bank account is part of the foundation of your financial life. If your bank isn’t helping you manage your money, you can feel lost at sea. But with the right bank account app? You can get on the path of financial freedom and be the boss of your money.

Perhaps the best example of this is with Chime Bank. So, let’s dive in and find out how the Chime bank account app can help you manage your money.

1. Take control of your financial life

It’s time to take control of your financial life and make money moves that will benefit you now and in the future. Unfortunately, traditional banks make going to the bank seem like a pain. You may not like going to in-person branches, waiting in lines and dealing with tellers that treat you like a number. And, while traditional banks may have online banking apps, many of them are clunky and not very user-friendly.

When it comes to online banking apps, you’ll want to look for one that’s flexible, convenient and accessible. It’s also important that the app is intuitive and just makes sense. Chime’s online banking app fits the bill. It’s easy to use and works with your lifestyle so you can take control of your financial life.

Some other perks: you can cash checks on the go and easily transfer money from your Spending Account to your Savings Account. Plus, if you’re out to dinner and need to pay back a friend, you can easily transfer money to that friend using the Chime banking app.

Chime can help you stay on top of your financial life and make managing your money easier and convenient. No more bank visits, frustrating online apps or confusing websites. Chime has one of the best mobile banking apps, giving you the power to take charge of your money.

2. Know where your money is going

Wondering how to manage money? The first step is knowing where your money is going. But tracking can be tedious. Using the Chime bank account app, you know where you stand with your money at all times and where your cash is going.

You can get instant transaction alerts when you use your debit card. Not only that, but Chime sends you daily updates on your bank account balance.

So there will be no “OH MY GOSH how did my bank account balance get so low?!” moments. You won’t be left in the dark.

3. Avoid hidden fees

Benjamin Franklin said “Beware of little expenses. A small leak will sink a great ship.”

Perhaps the most annoying little expense is a hidden fee that you didn’t know about. This includes monthly maintenance fees from traditional banks — like, aren’t they supposed to maintain your account anyway regardless of how much is in your account? Isn’t that a bank’s job?

But at traditional banks, fees are everywhere. From monthly maintenance fees to overdraft fees, to ATM fees and foreign transaction fees. All of those fees can add up and cost you. In fact, the average household in the U.S. pays an astonishing $329 in bank fees every year.

When you’re trying to get your money right, you need to keep all the coins you can. Keep in mind: you’re the one trying to pay down your student loans, get out of credit card debt and save for that trip to Aruba you’ve been dreaming about.

With Chime online mobile banking, you can ditch fees forever. Seriously. No fees. No surprises. You can take that money and put it toward debt, savings, or something fun just for yourself. All of that money adds up and can make a difference.

4. Make the most out of payday

What’s your favorite day? When asked that question, most people would say “payday.” There’s something exhilarating and calming about knowing that money is hitting your bank account. It’s your reward for your hard work and a job well done. And, it also helps you pay your bills.

Imagine if you could get paid two days before payday. How exciting would that be? What could that do for your cash flow, your ability to pay bills faster and save more money? At Chime, we know the benefit of getting paid early. This is why we’ve created Early Direct Deposit. When you sign up for this option, you can get paid up to two days before your payday.

Your funds won’t be held hostage and you won’t have to deal with pesky physical checks. Getting your money early can help you take action on your financial goals.

Pay bills. Save money. Spend on the stuff that matters to you most. All without waiting for the money that you earned. Sounds like a win, right?

5. Supercharge your savings

You want to save for a rainy day. Save for your future. Save for your friend’s wedding next summer. Save for a ticket to Burning Man. It can all seem so overwhelming if you’re trying to figure out how to manage finances.

Using Chime’s online mobile banking app, you can save easily and effortlessly for everything you want. We have a Save When You Spend feature which rounds up your transactions to the nearest dollar and transfers that money from your Spending Account to your Savings Account.

So, if you go out for coffee and get a cappuccino for $3.75, that figure will be rounded up to $4 and twenty five cents will be transferred to your Savings Account. While that may not seem like a lot, your collective transactions add up and you’ll save a good chunk of change before you know it.

On top of that, you can automatically save 10 percent of each paycheck with Chime. This way, when you get paid, you know you’re already saving money without extra work on your part. Boom. Savings just got easier. Your goals just got closer.

6. Protect your hard-earned dough

If you lose your debit card it can be quite scary. After all, your card links straight to your checking account and this is where your money is housed. So, what can you do if you lose your debit card or it gets into the wrong hands?

Instead of waiting in a long line to talk to a customer service rep and answer a million questions, you can use the Chime app and put a halt to your transactions immediately. Simply open your Chime bank account app and block transactions on your debit card. This will prevent any new transactions or withdrawals from your account.

Additionally, Chime has a Zero Liability policy so you won’t be held responsible for any unauthorized charges. In an environment ripe for data breaches and identity theft, being protected is crucial. We take an extra security measure and require two-factor authentication and also have fingerprint authentication.

Final word

Ready to finally learn how to manage your money? A bank account like Chime can help you both manage your money and reach your financial goals.

Life is more than just paying bills and working. With one of the best mobile banking apps on the market, Chime aims to make managing your money simple and even, well, fun. Isn’t it time you lived a less stressful life?

 

Stop Wasting Money by Avoiding Bank Fees: Here’s How

It’s nice to feel like your financial institution has your back. After all, you entrust a bank to hold your money and help you manage it. With this in mind, why do so many big banks charge unnecessary fees?

Citibank and Bank of America both charge a $12 monthly maintenance fee if you can’t keep a minimum balance of $1,500 in your account or if you don’t have direct deposit. Wells Fargo has a $10 account maintenance fee if you don’t meet its requirements. On top of these charges, many big banks also charge a $35 overdraft fee.  These bank fees take a bite out of your hard-earned money and who benefits from this? The big banks — many of which have not had the best reputation lately or taken consumers’ best interests to heart.

But you don’t have to accept this. You can stop wasting money. Read on to learn more about bank fees and how you can avoid them.

The truth about bank fees

For many traditional banks, bank fees have simply been the status quo. Many consumers may not even realize they’re paying a monthly maintenance fee on their checking account or recognize that they could be charged multiple overdraft fees if they overdraw their account.

In fact, BankFeeFinder.com, powered by Chime, found that the average household is paying $329 in bank fees. That’s a cross-country flight! And as of 2016, overdraft fees from big banks were an astonishing $33 billion. Not million, billion.

Bank fees are unfair to consumers who are getting nickeled and dimed by their own financial institution. It’s especially unfair for young consumers who are just starting their financial lives, many of whom are saddled with debt and dealing with stagnant wages.

Many of these banks have minimum balance requirements in order to avoid the monthly maintenance fee. So, essentially, if you’re broke and don’t have how much money, you end up paying a price. Doesn’t that seem counter-productive? Your bank should be helping you build wealth, not punishing you because you don’t have a certain amount in your account.

As the big banks continue to charge unnecessary bank fees like monthly maintenance fees and overdraft fees, there are new options on the market that allow you to just say “no” to fees.

The rise of no fee bank accounts

In a post-Recession world, I think all of us are a little more mindful of our money. We’ve started questioning many of the structures that were part of the economic downfall — and subsequently bailed out.

While many of the big banks have recovered, American consumers have not, which sets the stage for major change in the banking world.

In the INC article “Why the Banking Industry is Ripe For Disruption,” author James Paine states: “To put it simply, the banking industry is ripe for disruption. The average consumer has little to no trust in their bank, they just use the cheapest option they can find. Combine that with a total lack of competition at the top-level of the industry and what you’re left with is an industry in desperate need of change.”

Because of this, there’s a new wave of startups looking to disrupt the status quo and shake things up in the banking industry. By doing things differently these new financial companies can put the power back in consumers’ hands and put money back in their pockets. These startups and online banking apps are providing a much-needed alternative to the old banking systems that no longer serve us. For example, the last several years have seen a rise in no fee bank accounts like Chime, Capital One 360 and Ally.

At Chime, we’re committed to offering a no monthly fee checking account with the simplicity and accessibility of a mobile app. No fee bank accounts are becoming the new norm and we’re excited to be a part of this trend. Because seriously, fees suck.

Avoiding bank fees with Chime

Chime was created as an alternative to costly banks and fees. Our mission is to help consumers not only keep their money but get ahead with their money. We’re not profiting off you at every corner.

We’ve ditched the unruly bank fees that many traditional banks still charge. Instead, we offer:

  • No monthly fee checking accounts
  • No overdraft fees
  • No minimum balance requirements
  • No foreign transaction fees
  • No in-network ATM fees
  • No ACH bank transfer
  • No card replacement fee

In fact, you don’t have to stress about having a certain amount in your account to avoid a monthly maintenance fee. If you lose your card, we’ve got you covered as well and won’t hit you with a fee. We won’t add insult to injury and charge an overdraft fee if you overdraw from your account. Even more, when you’re traveling you won’t be charged foreign transaction fees. We’re committed to being fee free and helping you hold onto your hard-earned dough.

Opening a no fee bank account

Not sure how much you’re losing to fees? Check out BankFeeFinder.com to see how much you may be paying in fees. Those fees can add up fast and it’s time to reclaim your money. It was yours to begin with and you can keep it that way by using online banking apps that don’t charge fees.

Whether you are opening your first bank account or you’re ready to switch from a big bank, it’s easy to join Chime. In fact signing up for Chime will take less than two minutes. It’s totally free and won’t affect your credit score. So, if you’re looking to avoid bank fees, you can open an account with Chime and ditch your old bank for something better (if we do say so ourselves).

Final word

In this day and age, there’s absolutely no reason for you to pay bank fees. Why settle? You can opt for something better that won’t hit you up for a fee for every little thing. Using online banks like Chime, you can say goodbye to fees forever. Imagine if you had $329 a year back in your pocket. What would you do with it?

 

How To Spend $100 On Back-To-School This Year

The average parent will spend around $500 per child of their hard-earned money on back-to-school supplies.

For many parents, this price-tag seems daunting. But here’s the good news: you can still get your kids the school supplies they need without spending anywhere near $500. In fact, with careful planning, you can spend $100 (or less) on back-to-school necessities this year. Take a look at our 5 tips below and start saving money right now.

1. Shop Your Home

Before you even set foot inside a store, take inventory of what you have at home. Do you have binders that are in good shape? Do you have boxes of crayons, markers, or pencils that your child can use instead of new ones? Shop your home first by seeing what supplies you already have available. Then, cross off the items, gather them together, and make a list of all the remaining school supplies that you still need to buy.

2. Buy Only What’s Needed

If you’ve received a list from your school district stating what you need to buy for your child this year, only buy the items on the list. And, unless the list states a specific brand or size, choose the cheapest option available. As long as the particular item will serve its purpose and get your child through the school year, there’s no need to pay extra for the brand name. For example, in the Midwest, Crayola Crayons cost about $4.98 for a pack of 24 crayons. Yet, store brands from Target or Walmart only cost $2.98 for the same 24-pack.

Remember, you only have a $100 budget. If you want to make sure you don’t go over that amount and you’re only buying what you absolutely need, go shopping with only $100 in your checking account (you can always move money to your savings account and then back to your checking account later.). While some banks may charge you for dipping below a certain amount, in your checking account, you can always switch to a no fee bank to avoid that.

If your child needs more crayons (or any other school supplies) throughout the year, purchase them when the time comes. And remember: if you purchase extra items that aren’t on the list provided by your school, they may sit around your house all year. Wasted money.

3. Buy Online

Along with only buying what you need, you can receive significant savings on back-to-school supplies by shopping online. Not only does this save you time, but different stores will typically offer online only deals on school supplies.

Popular stores like Staples, Walmart, Target, and even Amazon will send out emails about back-to-school deals. If you haven’t signed up for these email lists, now is a great time to do this. This way you can get deals delivered right to your email in-box.

Another great reason to shop online for back-to-school supplies is that you’ll often qualify for free shipping straight to your home, or even to your local store if you’d rather pick up there. The items you find and pay for online are still eligible for returns, so there is no risk to you if you choose to shop online for back-to-school supplies. Instead, it’s just another way to save money, time and energy.

4. Use Coupons

If you have to buy brand name items, or if you want to save even more money, coupons, price matching deals, and savings found on apps can shave even more dollars off your back-to-school shopping bill. Almost all major retailers offer price matching, so if you find a product cheaper somewhere else, you can alert the store you’re purchasing from and they will match the price. The major retailers want your business, so don’t be shy. Take advantage of price matching to get the best deal for you.

If you decide to use coupons, remember to read and understand the store’s policy on how you can use your coupons. Each store is different, and it’s better to know the policy up front so you aren’t wasting time later. For example, some stores will not accept a store coupon on top of a manufacturer’s coupon. So, if you have a store coupon and manufacturer coupon for the same item, you may only be able to use one. The bottom line: read the policy, get your coupons in order, and make sure you have everything squared away before using them.

Even if you don’t use price matching or coupons, you can still save money or earn money back through your purchases. Apps and websites such as Ebates, Ibotta, and Checkout 51 all give you cash back for purchasing certain items or shopping at particular retailers. All you have to do is submit your receipt and the cash back or savings is then added to your account.

Also, if you use your Chime Visa® Debit Card, your purchases will round up with each transaction, thus adding more money into your savings account without having to think about it..

5. Check Out Discount Stores

Last but not least, don’t be afraid to check out discount stores or thrift stores. These stores aren’t just for cheap clothing or household items. You can find a plethora of back-to-school supplies for $1 or less. Plus, if your local thrift store offers discount days or extra coupons, you can use those to save even more.

If you decide to shop at a discount store, it’s important to remember that you may not find name brand items. However, if that’s not important to you, a discount store like the Dollar Tree can help you spend just one dollar or less on each item you buy. In other words, if you buy 40 items you may get away with spending only $40, which is well under your new $100 budget for back-to-school supplies.

Don’t Bust Your Back-To-School Budget

While the average parent may spend $500 on back-to-school supplies, you don’t have to spend anywhere close to this much money. It is possible to stick to a $100 budget for your child’s school supplies. All it takes is a little planning and willingness to shop around for the best deals.

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