If you use Chime and Paypal, you might be wondering on the question “Does Chime work with Paypal” and how to get the best of both the apps. In this post, you will get the complete details on how to connect Chime with Paypal and transfer funds from Paypal to Chime or vice versa.
Chime is a unique combination of fintech and bank and offers you the benefit of full-fledged bank account, which is FDIC insured. It is actually a fintech run in partnership with banks The Bancorp Bank and The Strides Bank, N.A. It offers online-only banking services at very low to almost no fees.
On the other hand, PayPal is a popular money transfer service using which you can pay and transfer funds. Being a money transfer service, it also allows you to link bank accounts and debit cards or credit cards as a payment method.
And Chime is one of the bank accounts that can be linked with PayPal.
Note that in this post talks about how to go about linking your own Chime account to your PayPal account and transferring money between the twoaccounts. In case, you want to transfer from Chime to someone else e.g. your friend’s or family member’s PayPal, you can try using “Chime Pay Friends” which can also work for non-Chime members.
Does Chime Work with PayPal
You can link Chime Bank Account to PayPal, like any other bank or debit card and transfer funds from PayPal to Chime.
However, there are some intricacies involved and you may also run into some issues, which we will cover in this post.
How to Connect Chime Account to PayPal
You can connect your Chime to PayPal by linking your Chime account to PayPal, using any of the following ways:
- Way 1- Add Chime Bank Account to Paypal, using the Chime Bank routing number and account number details
- Way 2- Link a common external bank account to both Chime and Paypal, which can be used as bridge account to transfer funds
How to Link Chime Bank Account to PayPal
Step 1 – Go to PayPal Website and log-in with your credentials
First step is to go to PayPal website, where you will get the option to link your bank account. It is preferable to use the PayPal website than the app, since it gets your more options.
Step 2- Click on “Link a Bank Account” and enter your Chime Routing Number and Account Number
Next run a search for “Chime bank” in the list. If it will displays “not found”, it will still give you an option to add “other bank” by entering the routing number and account number of bank, if it is not on the list (for which follow steps 3 onwards)
Step 3- Find or Confirm the Routing Number and Account Number for your Chime account on Chime App and enter the details in PayPal
To get details of Chime Routing Number and Account Number on Chime App, follow the steps below:
- Go to the “Move Money” on your Chime App
- Select “Direct Deposit”
- Name of bank for your Chime Spending Account, along with the Routing Number and Spending Account Number is displayed
Copy these numbers into respective fields in Paypal account
Step 3- Wait for PayPal to do 2 test deposits in your Chime Account (can take some days)
PayPal will deposit two small amounts (.02¢ or so) in your account
Step 4-Enter the details of deposits as requested by PayPal to confirm the ownership
You’ll need to confirm the details of test deposits on PayPal’s website to verify and confirm you as the owner of Chime bank account.
One ownership is verified, the bank details will show in the list of added bank accounts. It may show up as Chime [or the name of Chime banking partner -Bancorp Bank or The Strides Bank N.A]
How to send money from Pay Pal to Chime account
Once you have linked your Chime Account to Paypal, the steps to transfer money from Paypal are same as for transfer to any bank account.
- Open Paypal Website or App
- Click Transfer Money below your PayPal balance.
- Click Transfer to your bank.
- Select your Chime bank account under the “Standard” section, and click Next.
- Enter the amount you are transferring.
- Review and confirm transfer details, then click Transfer (amount) Now.
- Click Done to complete the transfer.
The standard transfer takes 1-3 business days.
Paypal won’t transfer to Chime Issue
If you face this issue where even after linking Chime to PayPal, the money transfer fails or cannot be completed- you can check if your address details in both PayPal and Chime account are matching.
Sometimes there is an issue of transfer failing due to security reasons where the address of the two accounts are not same. This can be an issue even if there are minor differences in address details, as it is likely caused by a system check.
How to Link Chime and PayPal [Way 2- using a common Bank account]
In case it does not work for you to link your Chime and Paypal account, you can consider adding a common bank account to both your Chime and Paypal accounts and use that as a vehicle to move money between the two accounts. It is preferable if you use a traditional bank account instead of a fintech bank, to keep things smooth.
Though this is requires you to jump through hoops, it does the job if your goal is to move money between the two accounts.
So you can easily link your Chime Bank Account to PayPal and transfer money between the two accounts. Hope this post was helpful.