Forget about going to the bank to make online transactions. Do you know that online banks like Zelle have made it easy to pay for services and transfer money without walking to a bank? Chime is one of those online banks that allows you to open a bank account without going to a physical location. The platform has garnered popularity over time and is one of the most sought-after online banking platforms.
Although Chime allows you to send money to people easily, some wonder if the almighty Chime works with Zelle. This article will give insights into what Chime is and whether it allows you to integrate your Zelle account.
What Is Chime?
Chime is one of the simplest online banking platforms for sending and receiving money from friends, colleagues, and family members. Unlike other online banking platforms, Chime allows you to open a simple checking account for your transactions. Additionally, the online banking platform offers users a secured credit card to help them pay for goods and services online.
Features of Chime Online Banking Services
You can also leverage the two bank account options available on the Chime account opening platform to manage your funds. You must remember that Chime checking accounts do not have maintenance fees. Also, a Chime checking account does not have a minimum balance requirement. You can get early payments for up to two days if you use direct deposits. With Chime’s SpotMe feature, you can enjoy a fee-free overdraft of about $200 when you make $200 or more monthly direct deposits.
The checking account from Chime also allows you to enjoy automated savings features while transferring money to family, friends, and colleagues at no cost. Interestingly, you can send money instantly with up to a $2,000 monthly limit. A Chime bank account also ensures you can use more than 60,000 ATMs nationwide. Chime also offers a free debit card replacement feature, and the platform works well with Apple Pay and Google Pay.
Another prominent feature of the Chime platform is the high-yield savings account. The high-yield savings account does not have any fees and also does not have any minimum balance requirements. The financial technology company does not require minimum deposits to open the Chime high-yield savings account. Unlike traditional banks, the Chime high-yield account does not have a cap on the interest you can earn while saving.
If you seek to advance your credit score, you can use Chime’s secured Visa credit card. One exciting thing about credit cards is that you do not need a credit check. Also, the online bank does not have direct deposit, overdraft, or maintenance fees. However, you need to note that Chime charges a $2.50 ATM withdrawal fee when you use an out-of-network machine to withdraw cash.
What Is Zelle?
Zelle is another online bank that makes it easier to send and receive money from clients, friends, and other people you trust. This cash app ensures that you can send or receive money with people with accounts in the United States. If both sender and recipient are on Zelle, getting funds credited into the recipient’s account takes a few minutes. Hence, most businesses prefer to use Zelle accounts for various business transactions.
Features of Zelle
Zelle provides an account with routing and account numbers to its users. Moreover, you do not need to pay money to create an account because the mobile banking app helps you for free. With Zelle, you get a free account. This simple, fast, free mobile payment service helps you do everything faster than most brick-and-mortar banks.
One advantage of Zelle is that it can transfer funds for business transactions. Also, the brand, owned by Wells Fargo, has a suitable payment method for every user that wants to enjoy services backed by credit unions. One prominent and may be the most essential feature of the Zelle app is that you can integrate your Zelle account with other banking apps.
Zelle has the edge over other banks because it does not require the recipient’s banking information. You will only need the recipient’s registered email or phone number to initiate the funds transfer. Zelle’s setup process is one of the easiest you can find anywhere. You don’t have to doubt its credibility because the online bank has collaborated with several U.S. banks.
Is Using Chime With Zelle Possible?
So, does Chime work with Zelle? Chime and Zelle are excellent online banking platforms you can leverage to send money. Until recently, you could add your Chime debit card to your Zelle account. However, this Chime integration is no longer available for users.
How, then, can you use this financial institution if it does not allow you to link your Chime account to your Zelle account? You can leverage Chime’s “Pay Anyone” feature to make instant money transfers to anyone you desire. Interestingly, you can leverage the feature to transfer funds to Chime and non-Chime users.
Why Does Chime Not Support Zelle Account Integration?
Chime is one of the online challenger banks trying to oust big names like Wells Fargo, Bank of America, Stride Bank, Bancorp Bank, JP Morgan, and others. While Chime is on its own trying to gain prominence, Zelle, on the other hand, collaborated with these traditional banks to curb the rising competition from Cash App, Chime, Venmo, and other online banks.
Since Chime is a competitor, Zelle does not allow you to integrate the bank’s debit card on its platform. Instead, you can use the Chime app to send money to people using their Zelle account details.
Frequently Asked Questions
1. Is it safe to use your Chime account to transfer money?
It is safe to transfer money using the Chime app. Ensure that you do not give out your bank’s login credentials to anyone because Chime will not take responsibility for stolen funds. You can integrate your Chime debit card number on other mobile payment services if the Zelle bank option does not work.
Also, you can leverage the Chime instant transfer feature for your banking services without any transfer fees after sending money to an external account. You can also leverage the Chime website to enjoy live customer support and other features.
2. Can you use a recipient’s mobile number for an instant transfer on Chime?
Chime does not allow you to send funds to people using their mobile numbers. However, you can use the recipient’s account details to send money to them from the Chime website or app.
3. What is the weekly transfer limit for a Chime account?
Your Chime account has a $10,000 daily transfer limit and a monthly transfer limit of $25,000. However, there seems to be no weekly transfer limit while using your Chime account.
Chime is an online banking platform that offers checking and savings accounts. It enables users to send and receive money. Zelle is another online bank that allows users to quickly send and receive money within the US. It offers a free account with routing and account numbers. While Chime does not currently have the ability to link to a Zelle account, it offers similar services for sending and receiving money.
Paul Martinez is the founder of EcomSidekick.com. He is an expert in the areas of finance, real estate, eCommerce, traffic and conversion.
Join him on EcomSidekick.com to learn how to improve your financial life and excel in these areas. Before starting this media site, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.