-
Financial Rates:
1.0
-
Customer Service:
3.5
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- No monthly maintenance fees
- Pay friends through the mobile app
- Chime Automatic Savings
- No credit check to open accounts
Cons:
- Limited accounts with low interest rates
- Does not offer ATM fee reimbursement
- No overdraft protection
- Daily withdrawal and spending limits
-
Financial Rates:
2.5
-
Customer Service:
4.5
-
Website Experience:
4.0
-
Bank Fees:
3.0
Pros:
- Low opening amounts for most accounts
- Good variety of accounts available
- Competitive interest rates on accounts
- Options to contact customer service
Cons:
- Cannot open all accounts online
- Accounts have monthly fees
- MMA have high opening amounts
- Tiered interest rates on some accounts
Chime accounts do not have monthly maintenance fees. The Spending and Saving account are completely free. There is not an overdraft fee or a monthly maintenance fee. There is no minimum balance required to keep in the account.
On the Chime app is a Pay Friends feature. You can send money to others instantly. You must have the person’s name, phone number, or email to transfer money. The intended person must have a Chime account or be approved for a Chime Spending account. You can only send up to $2,000 each month with this feature.
Chime offers an Automatic Savings tool. Each time you use your Chime debit card the amount rounds up to the nearest dollar. The extra amount is automatically transferred to your Chime Savings account. With direct deposit, you can have ten percent of your check automatically deposited into your savings account.
When you open a Chime account, they do not check your credit score or ChexSystems. If you have bad credit or no credit you can still be approved for a Chime account. Applying for a Chime account will not hurt your credit score.
Chime only offers a Spending account and a Savings account. The savings account with Chime does not earn a competitive interest rate. It does earn a small percentage of interest, but the rate is lower than traditional bank rates. The rate is not competitive with online or traditional bank interest rates. The checking account does not earn interest.
Chime offers 38,000 fee-free ATMs. If you use an ATM not included in the Chime network, you are charged a fee of $2.50 per ATM transaction. There is also a $2.50 fee for over the counter cash withdrawals. Chime does not reimburse these fees.
Most banks offer some type of overdraft protection. Chime does not. There is not a fee for over-drafting your account. But, if you do not have sufficient funds to cover the purchase, the transaction will not go through. You must have enough money in your account to cover transactions.
Chime limits the amount you can withdraw and spend with their Visa debit card each day. You are only allowed to withdraw $500 each day from an ATM, cash back during a point of sale transactions, or by an over-the-counter withdrawal. You are only allowed to make $2,500 in purchases with the debit card per 24 hours. The 24-hour period starts once the transaction is complete. Each of these different ways applies to the $2,500 allowed each day. No matter how you spend or withdraw the money, it cannot exceed $2,500 per 24 hours. Payments from the Chime Checkbook cannot exceed $10,000 in one month. You cannot make a check payment over $5,000.
Most Banesco USA accounts have low opening required amounts. The personal deposit checking and savings accounts only require $100 to open. The personal deposit CDs require $1,500 to open.
Banesco USA has a good variety of accounts. They offer personal checking, savings, and money market accounts. They offer personal and business CDs with terms from 3-months to 60-months. They offer business checking, savings, and money market accounts. Banesco offers personal and business international banking accounts, along with lending options.
The Banesco USA accounts offer competitive interest rates. The rates are competitive with other online accounts. The rates are much higher than typical bank rates.
There are a variety of ways to contact customer service. You can call during business hours or can have Banesco call you. You send an email, and customer service will call you. You can visit a local branch location or follow Banesco on social media. You can access account information anytime through BanescoVoice or logging in online.
Not all Banesco USA accounts can be opened online. To open their checking accounts, you must contact customer service. Other accounts may not be able to open online. Personal deposit money market and savings accounts can be opened online. Personal deposit CDs are also able to be opened online.
Most Banesco USA accounts have monthly fees. The fees range from $5 to $15 each month. To waive the fees, you must keep a set account balance in the specific account. This balance is not a combination of Banesco USA accounts. Those balances range from $100 to $2,500 depending on the account.
The Banesco USA money market accounts have high opening required amounts. Each of the personal deposit money market accounts require $2,500 to open. You must keep that amount in the accounts to avoid a monthly fee. If the amount falls below $2,500, the fee is between $5 to $15 per month.
Some Banesco USA accounts have tiered interest rates. The BanesFlex money market account requires $2,500 to earn any interest. But, to earn the most competitive rate offered you must have $100,000 in the account. Balances under this amount earn a much lower rate. The BanesGrown savings account only requires $300 to earn the most competitive rate.
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.65% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.40% |
|---|---|
| Rate | 4.30% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: $200 Bonus w/ Tiered Savings Account and Qualifying Activities |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $100 |
| Min to Earn APY | $5,000 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| MMA (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | Yes |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.10% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $1,000 |
| Min to Earn APY | $1,000 |
| Monthly Fee | $5.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†. Promoted offer: var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.