Chime

Chime is a San Francisco-based financial technology company founded in 2012 by Chris Britt and Ryan King, officially launching to the public in 2014. It is not a bank — it operates through partner banks The Bancorp Bank, N.A. and Stride Bank, N.A. (both Members FDIC), which hold customer deposits and provide the underlying infrastructure for its checking and savings accounts. Chime went public on the Nasdaq (ticker: CHYM) in June 2025 at an $11 billion valuation, making it the largest neobank IPO in U.S. history at the time. As of early 2026, it has approximately 9.5 million active members and reported $1.6 billion in revenue for 2024, a 30.6% year-over-year increase.

The high-yield savings account is Chime's core savings product. It operates on a tiered APY system: the base rate of 0.75% applies to all members, which rises to 3.00% APY for Chime Plus members (requiring a single direct deposit of $200+ or $400+ total in the past 34 days), and climbs to 3.75% APY for Chime Prime members (requiring $3,000+ in monthly qualifying direct deposits). There is no minimum balance to open or maintain the account — you need just $0.01 to start earning interest, which compounds daily. No monthly fees apply at any tier.