How to Withdraw Money From Chime Savings Account (A Complete Guide)

Unlocking the secrets of withdrawing money from your Chime savings account is the goal of this comprehensive guide. We understand that when it comes to managing your finances, simplicity and ease are paramount, and Chime excels in providing just that.

In the following article, we will take you on a journey, breaking down the intricacies of accessing your savings with Chime. Whether your savings are earmarked for a specific purpose, serve as a safety net, or are simply there for rainy days, we’ve got the roadmap to guide you.

By the time you’ve absorbed all the insights we have to offer, you’ll be poised to harness the full potential of your Chime savings account. So, without further ado, let’s embark on the quest to make your money work smarter for you!

How to Withdraw Money From Chime Savings Account

To withdraw money from your Chime Savings Account, you must first transfer it to your Chime Checking Account. You can do this using the Chime mobile app or website.

To transfer money from your Chime Savings Account to your Chime Checking Account:

1. Open the Chime mobile app or website.
2. Log in to your account.
3. Tap or click on the Move Money tab.
4. Enter the amount of money you want to transfer.
5. Select From Savings and To Checking.
6. Tap or click Transfer.

The money will be transferred to your Chime Checking Account immediately.

Once the money is in your Chime Checking Account, you can withdraw it from an ATM or over-the-counter at a bank or credit union.

To withdraw money from your Chime Checking Account at an ATM:

1. Insert your Chime Visa Debit Card into the ATM.
2. Enter your PIN.
3. Select Withdraw.
4. Enter the amount of money you want to withdraw.
5. Confirm the withdrawal.
6. Take your cash and card.

To withdraw money from your Chime Checking Account over-the-counter at a bank or credit union:

1. Go to a bank or credit union that accepts Chime Visa Debit Cards.
2. Present your Chime Visa Debit Card to the teller.
3. Tell the teller that you want to withdraw cash.
4. Enter your PIN.
5. Take your cash and card.

Chime Savings Account Withdrawal Limit

The Chime Savings Account withdrawal limit is $515 per day. This limit applies to both ATM the withdrawals and over-the-counter withdrawals.

If you need to withdraw more than $515 in a day, you can transfer the money from your Chime Savings Account to your Chime Checking Account and then withdraw it from your Checking Account. There is no limit on the number of transfers one can make from their Savings Account to your Checking Account.

Please note that there is a $2.50 fee for each cash withdrawal from a Chime Checking Account, whether you use an ATM or withdraw over-the-counter at a bank or credit union. You can avoid this fee by using a MoneyPass, Allpoint, or Visa Plus Alliance ATM.

How to Get Money Off Chime Without a Card

There are a few ways to get money off Chime without a card:

• Transfer money to another bank account. You can transfer money/funds from your Chime account to another bank account using the Chime mobile app or website. Once the money is in your other bank account, you can withdraw it using a debit card or ATM.
• Ask a friend or family member to withdraw money for you. If you have a friend or family member who has a Chime account, you can ask them to withdraw money for you using their debit card. They can then give you the cash.
• Use a mobile payment app. Some mobile payment apps, such as Apple Pay, Google Pay, and Samsung Pay, allow you to add your Chime debit card to your account. You can then use these apps to make payments at stores and online without having to use your physical debit card.
• Get a prepaid debit card. You can apply for a prepaid debit card that is linked to your Chime account. Once you have the prepaid debit card, you can use it to withdraw money from ATMs and make payments at stores.

Please keep in mind that there may be fees associated with some of these methods. For example, Chime charges a $2.50 fee for each ATM withdrawal from a Chime Checking Account. Some mobile payment apps may also charge fees for certain transactions.

Is Chime Savings Account Good?

Whether or not Chime Savings Account is good for you depends on your individual needs and preferences. Here are some pros and cons to consider:

Pros:

• High annual percentage yield (APY): Chime currently offers an APY of 2.00%, which is higher than the national average for savings accounts.
• No monthly fees or minimum balance requirements: Chime does not charge monthly fees or require a minimum balance to open or maintain a savings account.
• Mobile app: Chime has a user-friendly mobile app that makes it easy to manage your savings account on the go.
• FDIC insurance: Chime savings accounts are FDIC insured up to $250,000 per depositor, per account ownership type, in the event of a bank failure.

Cons:

• No physical branches: Chime is an online-only bank, so it does not have any physical branches. This may be a drawback if you prefer to do your banking in person.
• Limited account features: Chime only offers savings and checking accounts. If you need other banking products, such as CDs, money market accounts, or loans, you will need to look elsewhere.
• Cash deposits can be difficult: Chime does not allow you to deposit cash at ATMs. You can deposit cash at certain retail locations, but this can be inconvenient.

Conclusion

Withdrawing money from your Chime savings account is a breeze, giving you the freedom to utilize your funds according to your needs. This comprehensive guide has demystified the withdrawal process, equipping you with the knowledge and confidence to efficiently manage your finances.

Always bear in mind that your Chime savings account is a valuable asset, whether you’re saving for emergencies, planned expenses, or future investments. By adhering to the steps we’ve outlined and staying vigilant about potential fees and limitations, you can make the most of your savings.

Financial responsibility is paramount to achieving your financial goals, and Chime is your steadfast ally in this journey. We encourage you to keep growing your savings, setting clear financial objectives, and making informed choices regarding when and how to access your money.