My new Wise card finally arrived today! It’s actually pretty interesting—it doesn't have an American BIN, but instead shows one from Belgium, and it even features the "Visa Infinite" logo.
SCHEME / NETWORK: Visa BRAND: Infinite TYPE: Debit PREPAID: No COUNTRY: Belgium BANK: TELLER, A.S.
Just head over to Google, look under Goldman Sachs products, and you'll see everything currently available to you, including Chase Overdraft and Affirm. Think of Chase Overdraft as your pre-approved line of credit and Affirm as your option for installment plans. If they aren't showing up yet, don't worry—it just means they haven't cleared you for them quite yet. Usually, you just need to have spent a certain amount of money over the last few months before those options pop up.
Do I actually need a negative COVID-19 test for a "minor surgical procedure" at the Vinogradski clinic? Will they even perform it if I don't have one handy?
I've been calling them all day long and nobody is picking up, and even my primary care doctor isn't sure about their policy.
darkmaker94 said:Don't sweat it. Banks aren't going to scrap overdrafts. Even if interest rates drop, they're still going to rake in way more profit from those than they will from any standard loan.
That's pretty much all they've got. Honestly, I don't get how you can call it "silent" if you have to walk into a branch and ask for it. For instance, Bank of America automatically kicks an overdraft into gear the second your first paycheck hits the account, no questions asked—that's what I'd call a silent overdraft.
It's interesting, isn't it? If they had just added a line at the end saying, "We aren't offering authorized overdrafts at this time," I might still believe that what I currently have qualifies as an authorized overdraft. It truly makes no sense to you? Why would anyone go into a branch and sign mountains of paperwork for something that is supposedly "implied" and that other banks just set up automatically?
Regardless of how it ends up being phrased, I think I’ve used that negative balance maybe once in my entire life. If I remember correctly, it was after my second or third paycheck when I wanted to buy some insane computer—a Mac that was way beyond my means back then. I remember begging the teller at Goldman Sachs to see if she could squeeze out another hundred dollars over the limit she calculated. She knew exactly what I was buying, so she was actually quite sweet about it. 🤣🙏 I hope I never need it again. It’s nice to have a larger cushion available just in case of an emergency, but one should live as if it doesn't exist. 🙂
I’m looking at my JPMorgan Chase app right now, and they refer to my allowed overdraft as "Available Overdraft Limit." I actually picked this specific amount myself a few years back and signed some paperwork at the branch to have it approved for a 12-month term. Every eight months, like clockwork, they just send me a notification saying the limit has been extended for another 12 months (so, for example, it stays valid from August 12, 2021, through August 12, 2022). Since I first used that overdraft about xy years ago, it always seems to trigger right on that eighth month. So, here’s my question: would they technically consider this a "tacit" overdraft, or does that even make sense? Does JPMorgan Chase even have a concept of tacit overdrafting? 🤔
Venmo is the latest fintech service making waves—you can actually snag a $20 bonus for both you and a friend when you set up your first account with at least $20.
They’ll ask if you realize the call is being recorded, and then they need you to clearly state—or confirm—which bank you're opening an account with, how you heard about them, and why you want their services. Then comes the standard stuff: your full legal name, email address, whether you're the sole user of that email, your date and place of birth, citizenship, and your Social Security number. After that, the real show begins. They’ll have you waving your hand in front of the camera just to prove you aren't some pre-recorded video. Then, they’ll ask for permission to take a photo of you, telling you to look serious and stare directly into the lens. Once that's done, you spend another two or three minutes photographing your ID while they hunt for specific security features. They might ask you to tilt it to catch the light on a watermark or a seal in the corner, or tell you to put your thumb over one letter of a state emblem so only the other shows through. They'll even have you move the card quickly toward the camera to check for holograms. To wrap it all up, they send a verification code via SMS that you have to enter into the app right there during the call, and that's pretty much it. This is basically the standard identity verification process for most major US online banks, not just Chime... it's almost identical everywhere you go. 🙂
Edward Evans7 said:Do they actually freeze your account just like Chime does? I’m talking about when you land a deposit of, say, $100, and suddenly everything is locked up because they claim the funds aren't "verified" or whatever...
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They absolutely do.
You really have to be careful not to link your Chime account to anything involving cryptocurrency, as that goes directly against their Terms of Service. There is actually an international crypto forum where people absolutely tear into Chime; one after another, users find themselves getting flagged (thinking they'll fly under the radar), and then you're stuck dealing with a massive headache trying to resolve anything with them... 🤣
Since Chime is an American bank, it makes sense that they offer the most features within the States.
Though, looking at this link above, it seems they offer Maestro in Austria and the Netherlands as well, not just here in the US.
analogjackal11 said:I think I remember it being about making a specific transfer or transaction worth $100, but from what I can see now, maybe just having $100 sitting in your account is enough.
I honestly don't put much stock in PayPal; at this point, having an account there feels about as significant as opening a Gmail address—it doesn't really carry much weight. But Affirm is a whole different ballgame because you're dealing with actual credit, which is directly tied to your Equifax report.
Right, so the initial credit limit starts around $250, which seems to be the standard baseline they approve quite quickly. You probably won't see that limit available the very second you open the account, though; you’ll likely need to build up some transaction history first (though we can only speculate on the exact requirements). It’s a similar setup with getting access to the Chime Maestro card; that feature only "unlocks" once you've hit a certain spending threshold using your standard Chime Mastercard.
Consistently receiving deposits can definitely speed up the process of getting a higher overdraft limit, but even if you don't have steady income yet, you can likely qualify just by using the account responsibly over time. I know people who managed to land that initial $250 overdraft limit after just two months of using Chime, even without showing any significant income. I believe my colleague analogjackal11 mentioned before that he didn't have much income on his Chime account, yet they approved a nice overdraft amount for him today. I'm not entirely sure if Chime runs any Equifax checks (the American version of FICO and other credit bureaus) before approving limits, so perhaps using an Affirm card responsibly plays a role in that too...
p.s. a quick request to the moderators to rename this thread to "Chime." Honestly, the "coming to America" part feels redundant—who knows when it’ll actually expand further across the States? 😁
It’s been a while since I’ve actually used my overdraft, but I remember back when I was with Goldman Sachs a few years ago, they used to charge me this fee at the end of every single month.
It's actually quite interesting how they handle those overdraft charges. I decided to test the waters about two or three months ago by letting my balance dip into the negative just to see how they'd react. I wanted to see if they'd hit me with a fee immediately the following month, but they didn't. They only charged me yesterday (October 1st), and it turns out they calculate everything on a quarterly basis. They even sent over an email
Standard notification
Hey XXX,
This email is to notify you that our quarterly interest fee has now been deducted from your account balance.
This was calculated across any times where your balance dipped below zero (and you went into overdraft) in the last three months. You can see the amount of your interest fee in your balance statements in your mobile app or in Chime web.
No need to do anything on your side, we’ve automatically debited the amount from your account.
Since when did they start demanding pay stubs—let alone three of them? Isn't this all happening a bit haphazardly, without any real oversight or official verification? 🤔
