Update 4/9/24: Looks like another round of shut downs have been sent out. Hat tip to reader Phil
In the last week we’ve received a few reports from readers about their Chime accounts being shut down. Some readers are receiving an e-mail titled ‘Account Closure Notification’ whereas other account holders try to log in only to be told the account has been suspended. The Chime e-mail states the following:
Following a recent review of your Spending Account, we regret to inform you that we have made the decision to end our relationship with you at this time. Your Spending Account will be closed on August 06, 2020.
If you have a Chime Savings Account, per the terms of your Deposit Account Agreement, your Savings Account will also be closed.
If you have direct deposits, ACH Debits, or recurring debit card payments, please notify the originators immediately to avoid disruption with your future deposits or payments. Direct deposits, ACH debits, and recurring debit card payments may be rejected after August 06, 2020, however we still encourage you to redirect your ongoing direct deposits and bank transfers to avoid any delay in receiving your funds.
Kind regards,
The Chime Team
This is leading to some account holders being unable to access funds. Chime has not given any explanation regarding these account closures at all and even when sending out e-mails has given very little if any time to withdraw funds and stop recurring payments. A lot of readers have accounts from the $50 referral bonus.
Hat tip to readers Dan & Kyle, you can also find a lot more people reporting the same issues on reddit
Mypoints has earn 40,800 (up to) when opening a chime account and making two $200 direct deposits.
This is funny, I called the morning of April 5th and requested for my account to be closed and got the email above later that day. Good try Chime but you can’t break up with me, I already broke up with you.
Same here.
Chime scamming customers is nothing new. Do a Youtube search for Chime Scam and see all of the complaints.
Bank is clearly cheeks. Will be donezo within a year, probably then bailed out by the gubmint
They are not even a bank. Yeah, they will probably fail soon.
What make you think that? By your logic, Alliant will also be going under soon as both of them close several accounts every year or every few years.
Wouldn’t use Chime outside of meeting bonus requirements and collecting the bonus. I did like the app and want to give it a fair try. Used it for a bit for everyday activity, tried doing a mobile check deposit for a couple hundred dollars (AF refund check from a large financial institution), they sent me a message saying they’d not allow it and recommended trying another bank. Deposited at my local bank, closed Chime.
Hope they close mine. Never use it.
Every time Chime closes an account, an angel gets its wings?
Every time a fintech goes bankrupt, an angel gets its wings.
Funny I’m doing a DD bonus now 3 $200 DD for $10 each
I also use chime as a burner account for cash transfers out from luvkyland, mcluck, scratful, pulz.
Hope they don’t close me out.
I received the same Chime offer that you did. What are you using for your DD?
Part of real DD I’m in okta/workday as HR so it’s easy.
Never understood why people use chime
It’s a nice burner account.
Why not just open a separate acconut with your existing bank specifically as burner
Because if you do something, they don’t like, you might permanently damage a relationship with that bank.
I’ve heard of burner phones, which hide your identity from others when making phone calls.
Didn’t you need to submit your SSN and other personal information when you signed up for Chime? How could Chime or other banks accounts be referred to as “burner” accounts?
Low risk if its closed.
It seems that you misunderstood my question. It is obvious to me that the 3 of them are discussing doing some kind of frowned upon (or worse) activities with their Chime accounts.
I am asking why they would use the term “burner” to describe that as that term doesn’t make logical sense.
$100 bonus and over $1k in referral bonuses.
Trash company.