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Many Americans are using digital financial institutions, such asChime®, for their primary checking accounts. However, Chime* is not actually a bank — it’s a financial technology company — which can cause some confusion for its users when they try to complete basic financial tasks, such as setting up payments or documenting assets for a third party.
Many people usedirect deposit to receive their paychecks, and Chime users should know the details provide to employers. If you use Chime, you can use the guide below to figure out which bank name and routing number to use and how to set up direct deposit.
What Is the Chime Routing Number?
Chime does not have its own routing number. Instead, customers should use the name and routing number of the bank that partners with Chime to provide banking services for their account. This is either The Bancorp Bank, N.A. or Stride Bank, N.A. For The Bancorp Bank, the routing number is 031101279. For Stride Bank, the routing number is 103100195.
You can find which bank services your Chime account by logging in to your account and checking the direct deposit tab. You can also find the name of the bank that services your account on the back of your Chime Visa debit card1.
The Bancorp Bank
The Bancorp has been a part of the financial industry for over 20 years. It has issued over175 million active cards and is a leader in the prepaid card sector. Similarly to Chime, The Bancorp dedicates itself to providing accessible financial products and creating aninclusive environment.
The address forThe Bancorp Bank is:
The Bancorp Bank, N.A., 345 N. Reid St., Sioux Falls, SD 57103
Stride Bank
Stride was founded in 1913. It provides consumer and commercial financial products, such as banking, wealth management and mortgages.
The address for Stride is:
Stride Bank, N.A., 324 W. Broadway Ave., Enid, OK 73701
How To Set Up Chime Direct Deposit
Setting up direct deposit with Chime is easy, but the process may vary slightly depending on your employer’s requirements. In general, you should expect to have your bank information, account number androuting number on hand.
There are three ways to set up Chime direct deposit.
1. Find Your Routing Number Manually
On the Chime website, you can click “Move Money” to view your account and routing numbers. On the app, you can tap “Move Money” and then “Move your direct deposit.” Then just share these numbers with your employer on their payroll forms.
2. Download a Completed Form
Chime can also provide completed direct deposit forms. You can either click “Print” or “Download” on the website or “Get completed form” on the app.Once you’ve done so, you can print the form and give it to your employer.
3. Find Your Employer Through Chime
Finally, the app offers a simple way to set up your direct deposit online. If your employer participates, you can search for them by clicking “Find employer” and then following the steps on the screen.
Key Features of Chime
Rather than a traditional bank, Chime is a financial technology company that partners with banks to create affordable banking and financial offerings. Its accounts often don’t have annual or monthly fees, overdraft fees or minimum balance requirements. Instead, Chime focuses on creating products that are accessible.
Chime provides the following benefits and features:
- Fee-free accounts2
- Fee-free overdrafts up to $200 for eligible members3
- Access paychecks up to two days early with direct deposit4
- Secured credit cards
- Over 60,000 fee-free ATMs5
Instead of profiting from fees charged to Chime users, the company relies on transactions and the moneyit makes when a member uses their Chime card to make a purchase.
Should You Use Chime for Direct Deposit?
Chime has an A rating from the Better Business Bureau and a 4.16-star rating from thousands of customer reviews. While some users cite issues withChime’s customer service and inconveniences associated with adding money to their account, others highly rate the benefits that Chime has to offer. Chime accounts have no monthly fees and offer fee-free overdrafts, early access to paychecks and other features that make its bank accounts desirable.
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Bank accounts with Chime are alsoFDIC insured up to $250,000 since The Bancorp Bank and Stride Bank are both members of the FDIC. In addition, Chime has plenty of other security features, such as encryption and the ability to disable your debit card to keep your funds safe.
Final Take
If you’re seeking an online bank account that lets you access your direct deposits up to two days early, Chime is a reputable company with affordable checking and savings accounts. However, if you want to work closely with a financial professional, you may want to seek a bank with more dedicated customer service.
FAQ
You have questions about Chime's routing number. We have answers.
- Why does Chime have two routing numbers?
- Chime works with partner banks to provide its services. Since the fintech works with two different banks, it also uses two different routing numbers. The routing number you should use will vary based on your particular account.
- Is Chime a bank?
- Chime is a financial technology company, not a bank. The fintech works with partner banks to provide banking services.
- What is the Chime bank name for direct deposits?
- You should not use Chime as your bank name if you need to provide bank information for your direct deposit forms.You will need to check your account to see which of Chime's partners, The Bancorp or Stride, provides your banking services.
Cynthia Measom and Sarah Sharkey contributed to the reporting for this article.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
1Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
2There’s no fee for the Chime Savings Account. Cash withdrawal and third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
3SpotMe® on Debit is an optional, no-fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
4Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally makes these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.
5Out-of-network ATM withdrawal and over the counter advance fees may apply. Seeherefor details.
