Chime: My experience so far

Kevin Morris12 said:Yeah, totally free. 🙂

I'm guessing this is on a German bank account again?

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Kevin Morris12 said: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.

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.

https://support.chime.com/en-us/cards/...debit-card?p=

@electricbadger89
People in Germany, Austria, and the Netherlands might be able to get Maestro.

electricbadger89 said:I'm guessing this is on a German bank account again?

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Exactly, the US-based account. 🙂

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.

https://support.chime.com/en-us/cards/...debit-card?p=

@electricbadger89
People in Germany, Austria, and the Netherlands might be able to get Maestro.

Yes, it looks like they've updated those requirements.

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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I’ve had this account since May, and I haven't even had any steady income like a paycheck hit it yet. Still, various amounts go in and out all the time, and I've never run into any issues with freezes or anything like that.
They actually bumped my overdraft limit up to $800 today.

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... 🤣

So, when on earth is this thing actually going to land here in the States, and honestly, can it even hold a candle to Revolutionary or those other big players out there?

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granitesailor25 said:So, when on earth is this thing actually going to land here in the States, and honestly, can it even hold a candle to Revolutionary or those other big players out there?

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They actually cleared the regulatory hurdles for the US about a year ago. As of right now, though, the feature set is pretty thin compared to Revolut, and they don't have any crypto support yet.

mellowhawk33 said:They actually cleared the regulatory hurdles for the US about a year ago. As of right now, though, the feature set is pretty thin compared to Revolut, and they don't have any crypto support yet.

If they actually have the permits, does that mean we can open an account?

I checked the website, and we still aren't on the list:
Link:

A buddy of mine is looking into opening a German-style bank account through a service that ships everything via FedEx. If they require a video call for verification, can he just do it in English, or is he stuck needing someone who speaks German? 😍
Also, is it possible to set the app interface to English while the actual account is registered in Germany?

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Everything can be in English.

analogjackal11 said:Everything can be in English.

Thanks!
They’re asking for all the basics—name, age, where you're from, even a shipping address...
Roughly how long does one of these conversations usually drag on?

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It usually takes about 7 to 8 minutes.

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. 🙂

Kevin Morris12 said:It usually takes about 7 to 8 minutes.

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. 🙂

Amy
Thanks so much!

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Arthur Baker3 said:If they actually have the permits, does that mean we can open an account?

I checked the website, and we still aren't on the list:
Link:

https://support.n26.com/en-eu/account-and-personal-details#opening-an-account

Not yet. But my workaround using the VPN is still holding up just fine.

Wait, did Chime seriously just start hitting us with conversion fees over the weekend?

So I had another transaction pop up, but honestly, it’s just more of the same stuff from Monday.

I reached out to support and they were basically like, "Look, Chime doesn't even add a conversion fee," and they claimed they couldn't even see any kind of "markup" on my transaction at all.

🤔

Isn't that just a markup based on the Federal Reserve exchange rate? Everyone’s going to be forced to show those numbers eventually... I mean, some of our local banks have already started doing it.

So, I guess that might be what's actually going on there.

Can I actually use my card for dropshipping if someone wants to send me a payment from above? Also, is there any chance the IRS might just freeze the whole thing?