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Get Paid When You Say™: Introducing MyPay From Chime
[May 15, 2024]

Get Paid When You Say™: Introducing MyPay From Chime

Chime®, The #1 Most Loved Banking App™ 1, today introduced MyPay™-a low cost, transparent and seamless offering that allows qualifying Chime members to access up to $500 of their pay before payday2. MyPay is the latest innovation from Chime that aims to disrupt the status quo in banking by addressing the needs of everyday people and helping them unlock financial progress™. In 2022, Americans earned $10 trillion in wages and salaries,3 but 73% of workers have to wait at least two weeks to receive their pay,4 leading many to rely on high-interest credit cards, payday loans or overdraft fees to make it to their next paycheck.

  • Free or Low Cost: MyPay funds are deposited to members' Chime checking accounts within 2 days for free, or they get funds instantly for a low, flat fee of $2 per advance.
  • Transparent & Simple: Unlike other products on the market, Chime has no subscription fees, and MyPay has no tipping, no mandatory fees, no interest5, and no credit check. MyPay puts consumers in control by providing a transparent and low-cost way to get their pay, including government benefits.
  • Seamless: MyPay advances are transferred to members' checking accounts (FDIC insured through Chime's bank partners) and accessible in the Chime app, for an integrated and easy way for our members to access their pay when they want before payday. No extra apps to download or services to subscribe to.

Eligible consumers can join a waitlist6 to sign up for early access, with onboarding beginning soon.

"For far too long, payday has come on a fixed schedule. For the 60% of Americans living paycheck to paycheck7, getting paid that way doesn't always work," said Chris Britt, Chime CEO and co-founder. "Two-week pay cycles are outdated, and people need good ways to access money between paydays. We are proud to offer people greater control over their pay and lead the way in transforming how people get paid in America. Chime believes everyone deserves fair and responsible access to their hard earned money when they decide, without the fees and interest associated with other products."

MyPay lets qualifying Chime members get an advance on their pay, up to $500 each pay period, based upon the eligible Chime member's limit2. Members will be able to see their available advance amount through MyPay, all within the convenience of their Chime checking account in the Chime app. Learn more about MyPay at

Since its founding, Chime has been recognized for providing innovative, easy-to-understand financial service products that address the liquidity and credit needs of everyday people. Chime was one of the first in the space to offer fee-free overdraft through SpotMe® 8, an innovation which disrupted the financial services industry for the better and spotted members billions of dollars in fee-free overdraft. Chime Credit Builder Visa® Credit Card9, an industry leading secured credit card that doesn't require a credit check, late fees or interest10, boasts millions of users and has helped people establish or improve their credit scores by an average of 30 points11.

About Chime

Chime is a financial technology company, not a bank, founded on the premise that basic banking services should be helpful, easy, and free. Chime builds products that allow us to succeed when our customers do and has a business model that doesn't rely on consumer fees such as overdraft, monthly service, or minimum balance fees. For additional information:

Chime is a financial technology company, not a bank. Banking services and MyPay™ provided by The Bancorp Bank, N.A. or Stride Bank, N.A.. The Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

1. Chime is recommended by more of its users than that of any brand per 2023 Qualtrics® NPS score.

2. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House ("ACH") or Original Credit Transaction ("OCT"). Your MyPay Credit Limit and Available Advance Amount may change at any time. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See MyPay Agreement (The Bancorp Bank, N.A. members) & MyPay Agreement (Stride Bank, N.A. members) for details.

3. "St. Louis Fed, Total wages and salaries, BLS"

4. "Bureau of Labor Statistics, Frequency of pay period in the CES survey, February 2023"

5. Option to get funds instantly for $2 per advance or get funds for free within 2 days. See MyPay Agreement (The Bancorp Bank, N.A. members) & MyPay Agreement (Stride Bank, N.A. members) for details.

6. Certain restrictions and eligibility requirements apply. See MyPay Waitlist Terms and Conditions for details.


8. SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, "SpotMe"). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.


Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member's Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners' discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe Terms and Conditions.


9. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime® Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

10. Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer.

11. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.


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