In the world of modern banking, people constantly search for financial institutions that offer innovative features, low fees, and user-friendly experiences. Digital banking users in the United States are projected to grow year-over-year to nearly 217 million by 2025.
That number was 197 million in March 2021. One such banking service that gained popularity in recent years is Chime. However, like any other service, there may be better fits for Chime.
Whether you’re looking for better interest rates, more robust features, or a unique banking experience, there are plenty of alternatives for Chime to consider. In this blog, we will introduce you to top Chime alternatives:
Online Banks like Chime – Top 15 Best Chime Alternatives
|1. Beem||2. One Finance||3. Premium|
|4. Revolut||5. Discover Bank||6. Ally Bank|
|7. Current||8. Varo||9. Capital One 360|
|10. Aspiration||11. Axos Bank||12. Quontic|
|13. MoneyLion||14. Monzo||15. Metal|
#1 Online Banks like Chime – Beem
Beem, the best Chime alternative, is a digital banking platform that has been steadily gaining traction among users who seek a flexible and modern banking experience. Beem offers a range of features and benefits, including:
- High-Yield Savings: Beem offers competitive interest rates on its savings accounts, allowing you to grow your money faster.
- Early Direct Deposit: Like Chime, Beem lets you receive your paycheck two days earlier with direct deposit.
- No Hidden Fees: Beem prides itself on being fee-transparent, making it easier to manage your finances without unexpected charges.
- Debit Card: Beem provides a Visa debit card that can be used for online and in-store purchases.
- Bill Pay: You can easily pay your bills through the Beem app, streamlining your financial responsibilities. Also, use Beem to get timely alerts and manage all your payments in one place.
#2 Online Banks like Chime – One Finance
One Finance is another alternative to Chime that aims to simplify your financial life. Some key features of One Finance include:
- High-Interest Checking: One Finance offers a checking account with a competitive interest rate, allowing your money to work for you.
- Auto-Savings: This feature automatically transfers a percentage of your income into your savings account, helping you save effortlessly.
- Virtual and Physical Cards: One Finance provides virtual and physical debit cards for easy access to your funds.
- Mobile Banking App: Their user-friendly mobile app makes managing your accounts and monitoring your spending easy.
- Budgeting Tools: One Finance offers budgeting tools to help you keep your finances in check.
#3 Online Banks like Chime – Premium
Premium is a banking alternative that combines traditional banking services with innovative features. Some of the standout features of Premium include:
- High-Yield Savings: Premium offers competitive interest rates on savings accounts, helping you grow your wealth over time.
- Cashback Rewards: Premium offers cashback rewards on certain purchases, putting money back in your pocket.
- Investment Options: You can invest in stocks and ETFs directly from your Premium account, making it a versatile financial platform.
- Financial Planning: Premium provides access to financial planning tools and resources to help you achieve your financial goals.
#4 Online Banks like Chime – Revolut
Revolut is a global fintech company that offers various financial services, including banking, currency exchange, cryptocurrency trading, and more. Some key features of Revolut include:
- Multi-Currency Accounts: Revolut allows you to hold and exchange multiple currencies with competitive exchange rates.
- Cryptocurrency Integration: You can buy, sell, and hold various cryptocurrencies within the Revolut app.
- Budgeting and Analytics: Revolut offers budgeting tools and spending analytics to help you manage your finances effectively.
- International Transfers: You can make international transfers at competitive rates without hidden fees.
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#5 Online Banks like Chime – Discover Bank
While Discover Bank is a more traditional banking option compared to some of the other alternatives mentioned, it offers several advantages, such as:
- High-Interest Savings and CDs: Discover Bank is known for its high-yield savings accounts and certificates of deposit (CDs).
- Cashback Checking: The Discover Cashback Debit account offers cashback rewards on debit card purchases.
- No Monthly Fees: Discover Bank is fee-friendly, with no monthly maintenance fees for its checking and savings accounts.
- ATM Access: You can use your Discover debit card at over 60,000 ATMs nationwide.
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#6 Online Banks like Chime – Ally Bank
Ally Bank is a well-established online bank known for its user-friendly interface and competitive offerings. Here are some key features and benefits of Ally Bank:
- High-Interest Savings: Ally offers competitive interest rates on its savings accounts, allowing you to grow your money faster.
- No Monthly Fees: You won’t have to worry about monthly maintenance fees, making it a cost-effective choice.
- ATM Access: Ally Bank provides access to a vast network of ATMs across the United States, and they reimburse up to $10 per statement cycle for out-of-network ATM fees.
- Mobile App: Their mobile app is intuitive and user-friendly, making it easy to manage your accounts on the go.
#7 Online Banks like Chime – Current
Current is a fintech company offering a modern banking approach for individuals and families. Here’s what you can expect from Current:
- Teen Banking: Current allows parents to set up accounts for their teens, teaching financial responsibility and providing control over their spending.
- Early Direct Deposit: Get your paycheck two days earlier than traditional banks when you set up direct deposit.
- No Hidden Fees: Current prides itself on transparency with no hidden fees, and it offers a free basic account.
- Savings Pods: Current offers a feature called Savings Pods, which helps you save for specific goals.
#8 Online Banks like Chime – Varo
Varo is another mobile-centric banking platform that aims to simplify your financial life. Here are some highlights of Varo:
- Varo Advance: Qualifying Varo customers can access small cash advances when needed without traditional overdraft fees.
- High-Yield Savings: Varo offers a high-yield savings account with competitive interest rates.
- No Monthly Fees: Enjoy fee-free banking with Varo, including no monthly maintenance fees.
- Mobile App: Varo’s mobile app offers a user-friendly experience, allowing you to monitor your finances and set savings goals.
#9 Online Banks like Chime – Capital One 360
Capital One 360 is the online banking arm of Capital One, a well-known financial institution. Here’s why you might consider Capital One 360:
- Extensive Product Lineup: Capital One 360 offers a wide range of banking products, including checking and savings accounts, CDs, and credit cards.
- No Minimums: Many of their accounts have no minimum balance requirements.
- 360 Cafe: In select cities, you can visit Capital One 360 Cafes for in-person banking assistance and financial education.
- Competitive Rates: Capital One 360 offers competitive interest rates on savings accounts.
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#10 Online Banks like Chime – Aspiration
Aspiration is a socially conscious neobank that allows you to align your spending with your values. Here’s what sets Aspiration apart:
- Sustainability Focus: Aspiration offers features like Plant Your Change, where you can round up purchases to plant trees, and a commitment to fossil fuel-free investments.
- Fee Flexibility: You decide the fees you pay, even if it’s zero. Aspiration operates on a “Pay What Is Fair” model.
- Cash Back Rewards: The Aspiration Plus account offers cashback rewards on purchases.
- High-Interest Savings: Aspiration offers a high-yield savings account with competitive interest rates.
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#11 Online Banks like Chime – Axos Bank
Axos Bank, formerly known as BofI Federal Bank, has gained popularity for its extensive suite of online banking services. Here are some of the standout features of Axos Bank:
- No monthly fees: Axos Bank offers a range of checking and savings accounts with no monthly maintenance fees, making it an attractive option for those who want to avoid hidden costs.
- ATM fee reimbursements: With Axos Bank, you can use any ATM in the U.S. and get your ATM fees reimbursed. This feature can save you money, especially if you frequently withdraw cash.
- High-yield savings accounts: Axos Bank provides high-yield savings accounts with competitive interest rates, helping you grow your money faster.
- Mobile banking: Their user-friendly mobile app makes it easy to manage your accounts, pay bills, and transfer money on the go.
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#12 Online Banks like Chime – Quontic
Quontic is a digital bank that focuses on offering a unique blend of features and services. Here are some of the aspects that set Quontic apart:
- High-yield checking and savings: Quontic offers competitive interest rates on both checking and savings accounts, allowing your money to work for you.
- Cashback rewards: Their checking account provides cashback rewards on debit card purchases, putting money back into your pocket.
- Customizable mobile app: Quontic’s mobile app allows you to personalize your banking experience with features like account nicknames and budgeting tools.
- Mortgages and lending: Quontic also offers mortgage and lending solutions, making it a comprehensive banking option for those seeking various financial services.
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#13 Online Banks like Chime – MoneyLion
MoneyLion is an all-in-one financial platform that combines banking, investing, and lending. Here are some of the notable features of MoneyLion:
- Zero-fee checking: MoneyLion offers a zero-fee checking account with features like early paycheck access and a cashback rewards program.
- Investing platform: With MoneyLion, you can invest in stocks and ETFs, helping you grow your wealth alongside your banking services.
- Credit building: MoneyLion offers credit-building tools and services to help improve your credit score over time.
- Personalized financial advice: Their app provides personalized financial advice and insights based on your spending habits and financial goals.
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#14 Online Banks like Chime – Monzo
Monzo is a UK-based digital bank that has gained a strong following for its innovative approach to banking. Here are some of Monzo’s standout features:
- Real-time notifications: Monzo sends real-time notifications for every transaction, helping you stay on top of your spending.
- Budgeting tools: Monzo’s app includes budgeting features that categorize your spending and provide insights into your financial habits.
- Savings pots: You can create separate savings pots within your Monzo account to save for specific goals.
- International travel: Monzo is known for its favorable currency exchange rates and minimal fees when using your card abroad.
#15 Online Banks like Chime – Metal
Metal is a banking and financial platform that offers a premium banking experience. Here are some of the features that set Metal apart:
- Metal card: Metal provides a sleek metal debit card that comes with various perks, including cashback on purchases.
- Cryptocurrency integration: Metal allows you to buy, sell, and store cryptocurrencies within the app, making it a great option for crypto enthusiasts.
- Cashback rewards: Metal offers cashback rewards on select purchases, providing added value to its users.
- Priority customer support: Metal offers priority customer support to its users, ensuring quick assistance when needed.
While Chime is a popular choice for online banking, exploring alternatives is essential to find the banking experience that best suits your needs and preferences. The alternatives mentioned in this blog, including Beem, Axos Bank, Quontic, MoneyLion, Monzo, and Metal, offer various features and benefits that can cater to different financial goals and lifestyles.
Before making a switch, take the time to assess your banking requirements and compare these alternatives to determine which one aligns best with your financial objectives.
Remember that the right bank depends on your needs, so be sure to research and make an informed decision. Meanwhile, check out Beem Everdraft™ to get $20 – $1,000 instant cash for financial emergencies like paying bills, gas, groceries & medicines.
Q. Are there any banks like Chime?
Yes, there are several banks and financial institutions that offer services similar to Chime. These banks typically provide online banking, no-fee checking accounts, and mobile apps for easy account management.
Some popular alternatives include Axos Bank, Quontic, MoneyLion, Monzo, and Metal.
Q. Is Chime or Beem better?
Chime and Beem are both online banking platforms, but the better option depends on your specific needs and preferences. Beem offers banking services with a focus on community and social features, while Chime is known for its straightforward online banking services.
To determine which is better for you, consider factors like your banking requirements, desired features, and location.
Q. What are the top alternatives for Chime in 2023?
As of 2023, some of the top Chime alternatives include: Beem, Axos Bank, Quontic, and MoneyLion
Q. Are there any Chime alternatives available in Canada?
Canada has a selection of online banks and financial institutions that offer services similar to Chime. Some Canadian alternatives include Tangerine, Simplii Financial, EQ Bank, and KOHO.