Bank account feature · SpotMe (fee-free overdraft coverage) and MyPay (pay advance line of credit)
Chime SpotMe and MyPay: what it costs and what the record shows
SpotMe lets eligible Chime Checking members overdraw debit card purchases and cash withdrawals by $20 up to $200 with no fee, repaid automatically from the next deposit; tips are optional. MyPay is a separate revolving line of credit from Chime's partner banks that advances part of an upcoming paycheck, free within 24 hours or for 3% ($2-$5) instantly.
Checked against the company’s published terms and official records on 2026-10-18.
$3 to use $100 for 7 days with instant transfer (MyPay), no tip. Your cost depends on the amount, the days and the options you pick: try your numbers.
- What it is
- Bank account feature
- Who runs it
- Chime Financial, Inc. (a financial technology company, not a bank); banking services by The Bancorp Bank, N.A. or Stride Bank, N.A.; MyPay services by Chime Capital, LLC (NMLS ID 2316451)
- Most you can get
- SpotMe: limit starts at $20 and may go up to $200. MyPay: page advertises up to $750; footnote says eligible members may be offered a $20-$1,000 credit limit per pay period.1
- Monthly membership
- None
- Instant transfer
- SpotMe: no fee. MyPay: instant advance fee of 3% of each advance (minimum $2.00, maximum $5.00); standard delivery is free.2
- Standard transfer
- MyPay standard: free, up to 24 hours to your Chime Checking Account. SpotMe covers eligible transactions at the time of purchase.
- Tips
- SpotMe: optional tips are offered after you repay a negative balance; Chime says tipping or not tipping has no impact on eligibility. No tips are described for MyPay.3
Whether an app is “legit” comes down to facts you can check: who runs it, what it charges, whether it is licensed or registered where a state requires it, and what regulators and courts have said about it. Those facts for Chime SpotMe and MyPay are below, each with its source. A feature of a bank or payment account; you need that account (and usually direct deposit into it).
What you pay
| Charge | What the company says |
|---|---|
| Instant transfer | SpotMe: no fee. MyPay: instant advance fee of 3% of each advance (minimum $2.00, maximum $5.00); standard delivery is free.2 |
| Standard transfer | MyPay standard: free, up to 24 hours to your Chime Checking Account. SpotMe covers eligible transactions at the time of purchase. |
| Tips | SpotMe: optional tips are offered after you repay a negative balance; Chime says tipping or not tipping has no impact on eligibility. No tips are described for MyPay.3 |
| Loan terms | APR: MyPay: 0% APR stated in the MyPay Agreement (the optional instant fee is the only charge). SpotMe: no interest.. MyPay is a revolving line of credit; advances are repaid by automatic debit from your Chime Checking Account when your qualifying deposit arrives (no more than four automatic debit attempts). Your statement shows a Due Date. MyPay (Bancorp agreement): Alabama, Alaska, Arizona, Arkansas, California, Delaware, District of Columbia, Florida, Georgia, Hawaii, Indiana, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia and Wisconsin. SpotMe: no state list published on the pages checked.2 |
| ATM and third-party fees | SpotMe terms note out-of-network ATM fees and third-party fees may still apply when SpotMe covers an ATM withdrawal or cash transaction.3 |
| Late fees or interest | SpotMe: Chime does not charge interest or fees; failure to repay does not affect your credit, but a negative balance not repaid within 90 days may lead to suspension of the Chime Checking Account and after 120 days the account may be closed. MyPay: no interest (APR 0%) and no penalty or late fee for not paying by the Due Date; non-payment is Default, which can end advances and close the MyPay account; the agreement says the debt will not be referred to a third-party debt collector.2 |
What the marketing says, and what it leaves out
- “SpotMe: "no overdraft fees" / "fee-free”: No SpotMe fee, but it only works inside a Chime Checking Account with qualifying direct deposits (and, per the FAQ, Chime Plus or Prime status); Chime asks for optional tips; ATM and third-party fees can still apply.
- “MyPay: "no interest”: 0% APR is accurate, but instant delivery costs 3% of the advance ($2 minimum, $5 maximum); the free option takes up to 24 hours.
- “MyPay: "up to $750”: Chime says most members start around $40-$100; the agreement says maximum available advances start at $20.
The real cost, worked out
Same formula as our calculator: total cost ÷ amount × 365 ÷ days. Tips are left at $0 because they are optional; a tip adds to the cost.
| Example | You pay | Per $100 | APR |
|---|---|---|---|
| $100, instant transfer, repaid in 7 days | $3 | $3 | 156% |
| $100, instant transfer, repaid in 14 days | $3 | $3 | 78.2% |
| $100, free standard transfer, repaid in 7 days | $0 | $0 | 0% |
How Chime SpotMe and MyPay works
- Open a Chime Checking Account and activate your Chime card.
- Set up qualifying direct deposits of $200 or more to Chime.
- SpotMe: once eligible, eligible card purchases and cash withdrawals can overdraw up to your SpotMe limit; repaid from your next deposit.
- MyPay: in the app, choose an amount up to your available limit (minimum $20) and pick free (within 24 hours) or instant (3%, $2-$5) delivery.
- MyPay advances are debited from your Chime Checking Account when your next qualifying deposit arrives.
Steps summarized from Chime MyPay page4.
Who can get it
SpotMe: Chime Checking Account and an activated Chime debit card or Chime Card; the SpotMe page says eligibility requires $200+ in qualifying direct deposits each month and its FAQ says members must have Chime Plus or Chime Prime; the SpotMe terms set the base requirement as a single qualifying direct deposit of $200+ or $400+ cumulative in the preceding 34 days. MyPay: 18+, Chime Checking Account, activated physical Chime card, live in a MyPay state, and a $200+ qualifying direct deposit (footnote lists three paths: two employer/gig deposits of $200+, one such deposit plus an additional data source, or one government benefits deposit of $200+, within the preceding 36 days).3
How it is paid back
SpotMe: the negative balance is repaid automatically from your next direct deposit or other deposit, whichever is sooner. MyPay: Chime debits your Chime Checking Account for outstanding advances when your qualifying deposit arrives, by your Estimated Pay Date.3
Which banks it works with
Only what Chime SpotMe and MyPay’s own help center or terms say. “Not stated” means we found no official statement either way, not that it won’t work. Compare all apps by bank.
| Bank or account | Status | What the app says |
|---|---|---|
| Chime | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Cash App | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Varo | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Current | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Chase | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Wells Fargo | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Bank of America | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
| Capital One | Own account only | “Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.”1 |
State licenses and registrations
- Indiana: listed as “Chime Capital, LLC” on the official list (checked 2026-10-18).
- Missouri: listed as “Chime Capital, LLC” on the official list (checked 2026-10-18).
- South Carolina: listed as “Chime Capital, LLC” on the official list (checked 2026-10-18).
- Utah: listed as “CHIME CAPITAL, LLC DBA: CHIME” on the official list (checked 2026-10-18).
Official record
- 2024-05-07 Consumer Financial Protection Bureau, consent order. The CFPB found that Chime failed to refund remaining balances to consumers within 14 days after their accounts were closed in thousands of instances, which it found unfair. The order required a $3.25 million civil money penalty and at least $1.3 million in redress; it concerns closed-account refunds, not SpotMe or MyPay. Status: Post Order/Post Judgment (per CFPB page). Official document
- 2024-02-27 California Department of Financial Protection and Innovation, consent order. DFPI found that Chime's handling of some consumer complaints submitted to the Department in January-March 2021 violated the California Consumer Financial Protection Law. Chime agreed to a $2,500,000 penalty and to refrain from handling complaints in an unfair or untimely manner; the order does not concern SpotMe or MyPay. Status: Signed by DFPI February 27, 2024. Official document
- 2021-03-29 California Department of Financial Protection and Innovation, settlement. DFPI found Chime's use of the URL chimebank.com before February 2020 and of the words 'bank' and 'banking' in parts of its business violated California Financial Code section 561, since Chime is not a licensed bank. Chime, neither admitting nor denying, agreed to change its website, app and advertising. Status: Settlement agreement dated March 29, 2021. Official document
- 2021-03-25 Illinois Department of Financial and Professional Regulation, Division of Banking, consent order. Illinois found Chime's use of chimebank.com and of 'bank'/'banking' violated Section 46 of the Illinois Banking Act. Chime agreed to cease and desist from using chimebank.com and to pay a $200,000 civil penalty, neither admitting nor denying the findings. Status: Settlement Agreement and Consent Order 2021-DB-01. Official document
Searched: CFPB enforcement actions (consumerfinance.gov); California DFPI enforcement actions; Illinois IDFPR enforcement; FTC (no Chime action found via government index); Government index queries 'Chime SpotMe MyPay', 'Chime Financial Inc settlement order state regulator', 'Chime' (dfpi.ca.gov), 2026-10-18; no action found specifically about SpotMe or MyPay. A complaint or lawsuit contains allegations; it is not a finding unless a court or agency says so.
Cheaper ways to cover a gap
- Ask your employer whether it offers pay advances through payroll, and what they cost you.
- Federal credit union payday alternative loans (PALs) are capped at 28% APR.
- Ask the bill’s company (utility, landlord, lender) for a payment plan or a few days’ extension.
- Call or text 211 for local emergency help with rent, utilities and food.
Details and official links for each option
What we could not confirm
- chime.com returns 403 to direct requests; Chime pages and agreements were read through a fetch tool that summarizes, so quotes are short and exact wording of long footnotes was not captured in full.
- Conflict on SpotMe eligibility: the SpotMe page says $200+ in qualifying direct deposits each month plus Chime Plus or Prime status; the SpotMe terms (Bancorp, 04/2026) state a single $200+ deposit or $400+ cumulative in 34 days. Not resolved.
- MyPay state list taken from the Bancorp MyPay Agreement only; the Stride agreement list was not compared.
- Whether SpotMe is available in every state was not found in the pages checked.
Sources
- Chime SpotMe page
- MyPay Agreement (The Bancorp Bank), effective 06/2026
- SpotMe Terms and Conditions (The Bancorp Bank), effective 04/2026
- Chime MyPay page
- SpotMe Terms (Stride Bank)
- MyPay Agreement (Stride Bank)
- CFPB enforcement action: Chime Financial, Inc. (May 7, 2024)
- California DFPI Consent Order, Chime Financial, Inc. (Feb. 2024)
- California DFPI Settlement Agreement, Chime Financial, Inc. (Mar. 29, 2021)
- Illinois IDFPR Settlement Agreement and Consent Order 2021-DB-01
All checked 2026-10-18. Fees change; the company’s current terms are the ones that count. Spotted a change? [email protected]