What are good alternatives to Chime?

Alternative Apps
1

Looking for apps similar to Chime because I want to explore other mobile banking options with features like fee-free banking and early paycheck access. Any recommendations?

2

1. SoFi

  • Homepage Link: https://www.sofi.com/
  • Pros: Fee-free banking, competitive savings APY, and tons of financial services like investing and loans all in one place. They also offer free credit score tracking and budgeting tools.
  • Cons: Doesn’t have physical branch locations (like most mobile banks), limited cash deposit functionality.
  • Features:
    • No monthly fees or overdraft fees.
    • Early paycheck access, up to two days early.
    • High-yield savings account with 4.50% APY (if conditions are met like direct deposit).
    • Integration with their investing platform for easy transfers.
    • Member benefits like financial planning and referral bonuses.
  • User Reviews: Customers highlight its ease of use and how it consolidates multiple financial services under one roof. Some wish for improved cash deposit options.
  • Verdict: SoFi is a robust alternative to Chime, especially if you want more comprehensive financial tools like investing and loans in the same ecosystem.

2. Varo

  • Homepage Link: https://www.varomoney.com/
  • Pros: Fully fee-free banking experience and very competitive savings APY.
  • Cons: Eligibility for high APY savings requires you to meet specific monthly conditions.
  • Features:
    • No overdraft fees or minimum balance requirements.
    • Cash deposits possible at Green Dot locations.
    • Early paycheck access.
    • Savings account with up to 5.00% APY if direct deposit and transaction conditions are met.
  • User Reviews: Users praise its simplicity and high-yield savings but note that the app can occasionally glitch during updates.
  • Verdict: A close competitor to Chime. Fantastic for saving money with great APY but may not suit those who rely heavily on cash deposits.

3. Current

  • Homepage Link: https://www.current.com/
  • Pros: Awesome for younger users or gig workers; early payroll deposit is a big plus.
  • Cons: ATM withdrawal fees apply outside their network. Not a traditional high-yield savings option.
  • Features:
    • No minimum balance or overdraft fees.
    • Early direct deposit.
    • Savings pods feature for budgeting and saving.
    • Cashback offers at select retailers.
    • Teen banking option (great for families).
  • User Reviews: Many love the teen banking account feature and budgeting tools, but some are disappointed by the lack of more comprehensive savings options.
  • Verdict: If you’re looking for straightforward banking with a twist of cash-back perks, Current is a solid choice.

4. Ally Bank

  • Homepage Link: https://www.ally.com/
  • Pros: Widely known, very reliable with strong customer support. High APY savings account and robust budgeting tools.
  • Cons: Doesn’t offer early paycheck access like Chime.
  • Features:
    • No monthly maintenance fees or minimum balances.
    • Savings account with 4.25% APY (as of 2023).
    • Extensive ATM network with reimbursement for out-of-network ATM fees.
    • Robust tools for setting savings goals.
  • User Reviews: Solid reputation for long-term savings and dependability, though some say it lacks the flashy, instant paycheck access features found in newer fintech.
  • Verdict: If early paycheck isn’t critical, Ally provides an excellent mix of savings and hassle-free banking.

5. Discover Online Banking

  • Homepage Link: https://www.discover.com/online-banking/
  • Pros: No fees across the board, excellent customer service, and cashback checking.
  • Cons: Limited features for mobile banking enthusiasts looking for bells and whistles.
  • Features:
    • Cashback on debit card purchases (1% on up to $3,000/month).
    • 24/7 customer service.
    • Savings accounts with competitive returns (3.90% APY as of 2023).
    • Large ATM network, no ATM fees.
  • User Reviews: Many praise its simplicity and consistent service. Some think it’s “too traditional” compared to mobile-first options like Chime.
  • Verdict: A dependable alternative with the attractive bonus of cashback on checking accounts.

6. Dave

  • Homepage Link: https://www.dave.com/
  • Pros: Gig workers and hourly employees love its cash advance and budgeting features.
  • Cons: Requires a membership fee of $1/month for full benefits.
  • Features:
    • Get paid up to two days early.
    • Predictive budgeting to prevent overdrafts.
    • $500 cash advance with no interest (instead, they ask for optional “tips”).
    • Tons of integrations for gig economy payments.
  • User Reviews: People appreciate how it helps avoid overdraft costs while on tight budgets, but some note that its features may slow if you’re heavily reliant on multiple income transfers.
  • Verdict: Great if you’re living paycheck to paycheck or need occasional upfront cash.

7. One Finance

  • Homepage Link: https://www.onefinance.com/
  • Pros: Innovative “pockets” feature to keep budget categories separate.
  • Cons: Fewer ATM locations compared to other mobile banks.
  • Features:
    • No monthly fees.
    • Optional overdraft protection.
    • Pockets system for budgeting (you can even share pockets with others).
    • Early direct deposit.
    • Cashback opportunities at specific stores.
  • User Reviews: Users like the concept of sharing specific budget pockets with family or partners, although ATM access could be more widespread.
  • Verdict: Awesome for families juggling shared finances or those who want help staying organized with their budgeting.

8. Capital One 360

  • Homepage Link: https://www.capitalone.com/bank/online-banking/
  • Pros: A solid hybrid of fintech innovation and big-bank stability.
  • Cons: Limited fee-free ATMs outside the U.S.
  • Features:
    • No fees or minimums.
    • Early payment deposits.
    • Physical bank branches available (huge plus if you want in-person service).
    • Competitive APY of 4.10% on savings accounts.
  • User Reviews: Customers like the early payday feature and connection to a traditional bank, though international users may feel restricted.
  • Verdict: Best of both worlds if you enjoy the innovation of mobile banking but like having a physical branch nearby.

9. Upgrade Rewards Checking

  • Homepage Link: https://www.upgrade.com/
  • Pros: Cashback on all purchases and a modern user interface.
  • Cons: Not ideal for those looking purely for savings-related features.
  • Features:
    • 2% cashback on everyday purchases.
    • No hidden fees or overdraft charges.
    • Large ATM network.
    • Integrates with Upgrade personal loans and credit cards.
  • User Reviews: Its cashback rewards receive praise, but customers seeking robust savings tools might find it lacking.
  • Verdict: Fantastic if your banking revolves around spending incentives rather than passive saving.

10. Aspiration

  • Homepage Link: https://www.aspiration.com/
  • Pros: Environmentally conscious features—plant trees for your purchases! Great for cashback.
  • Cons: Savings account APY is condition-heavy. No early paycheck access.
  • Features:
    • No maintenance fees on basic accounts.
    • Cashback for purchases at environmentally friendly retailers.
    • Savings account with up to 5% APY (with monthly subscription).
  • User Reviews: Applauded for its sustainability mission and cashback features, though users were split on whether their APY bonuses are worth the fees.
  • Verdict: A niche alternative for eco-conscious spenders. Not as feature-rich as Chime for everyday banking.

Each of these apps caters to different preferences—some excel at savings (Varo, Ally), others focus on spending perks (Current, Upgrade). If you love early paycheck access like Chime, SoFi and Varo are standout options. For cashback rewards, Discover or Aspiration might be more your speed.