Chime vs Varo Bank
Chime | Varo Bank | |
|---|---|---|
Get Started - | Online Savings Account - | |
Benefits and Features | ||
| Savings | 2.00% Annual Percentage Yield (APY). The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 17, 2022. No minimum balance required. Must have $0.01 in savings to earn interest. | 3.00% APY on all balances. Opportunity to earn 5.00% APY if your daily savings balance does not exceed $5,000 AND you make at least 5 Varo debit card purchases per month AND receive at least $1,000 in direct deposits in either the Varo Bank Account or Savings Account. |
| Checking | No monthly service fee; no minimum balance; no overdraft fees; no foreign transaction fees | No monthly service fee; no minimum balance; no overdraft fees |
| Customer Service | Mon-Fri 8am - 9pm (ET) and Sat-Sun 11am to 7pm (ET) | |
| Minimum Deposit to Open | ||
| Mobile App | ||
| ATMs | Over 60,000 fee-free MoneyPass, Allpoint, and Visa Plus Alliance ATMs | Over 55,000 fee-free AllPoint ATMs |
| Locations | ||
| Monthly Fee | ||
CreditDonkey® Reviews | ||
| Savings |  | |
| Checking | | |
| Customer Service |  | |
| Mobile App | | |
| Pros & Cons | Pros:
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Chime: Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Varo Bank: Pricing information from published website as of 10/06/2022 | ||
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