Chime is a popular choice with millennials, offering online banking services with almost no fees . If you are looking to transfer money from your Chime account to another bank account, this guide will walk you through all the steps.
Chime offers you the ability to transfer funds from your Chime account to other bank accounts, which you own. The transfer works through ACH [Automated Clearing House] transfer which can take up to 3 business days.
To be able to make the transfer to another bank account, you should have a Chime Spending Account with Chime Debit Card. Once you sign up with Chime App, Chime sends you the Chime debit card by mail on your registered address, within 7-10 days of enrollment.
How to Transfer Money from Chime to Bank account? You can transfer money from your Chime Account to your other external bank account, by linking the bank account in your Chime App (using online authentication). Once you link the other bank account, tap on the “Transfer Funds” option under “Linked Bank Accounts” (also available under “Move Money”). Then select your Chime Account in the “From” field and the other bank account under “To” Field. Next enter the amount you want to transfer and review details before confirming the transfer.
You should note that you can only transfer funds from your Chime App account to another bank account that you own and which you have linked in the Chime App.
In other words, you can’t transfer money to someone else’s bank account e.g. you cannot transfer money to your friend’s bank account. So, this is more of an option to Cash out your Chime Account funds.
Let’s dive into all the step by step details to do this with some helpful tips, screenshots.
How to Link Bank Account to Chime App
The first step in transferring funds is to link the other bank accounts in your Chime App. You can link an external account you own to your Chime Spending Account by following the steps below.
- Login to your Chime App and Go to Settings
- Tap “Link a Bank Account” from the list of options. You can also find the “Link another account” option on Chime App home screen under Linked bank accounts
- Select the bank in which you have an account which you want to link (from List of banks provided in Chime App) e.g. Chase etc.
- Enter your other bank’s login credentials to authenticate yourself (works through Plaid)
Once you complete the linking, you should be able to see the bank account name under “Linked Bank Accounts” on Chime App Home Screen
How to transfer money from Chime App to other bank account
After linking your external bank account in Chime app, here are the steps to follow to transfer funds :
- Login to Chime App and go to the “Transfer funds” option under “Linked Bank Accounts” on Chime App Home Screen. Alternatively, you can tap on “Move Money” option on Chime app home screen. Then select “Transfer Funds” under “Transfer Money and Pay Bills” section
- Next tap on the right arrow to “From” field (bank from which funds will be transferred). Select the Chime Bank Account” from where you want to transfer funds
- Next tap on the right arrow next to “To Field” and you will get the option to change bank account from any of the linked bank accounts
- Enter the amount you wish to transfer
- Next review the information and check if the transfer details are correct. Here, it also shows you an estimate of date by which the funds will be available in your bank account
How long does it take Chime to transfer money to another bank
The transfer through Chime works using standard Automated Clearing House [ACH] transfer and usually gets credited in 3 business days.
Chime App Transfer Limits
You can transfer up to $10,000/- a day (up to max $25,000 a month) from Chime Account to another bank account you own.
This is unless your bank has a lower limit for acceptance.
Another alternative some may try is to complete the transfer using Zelle
Unfortunately, Chime does not offer a Zelle transfer option within their app (as it is not in the list of Zelle partner banks)
So for this, you need to download the Zelle app. Then link your Chime account to Zelle, using the Chime debit Card details.
Then you can use Zelle to do the transfer using Chime Account funds.
Another Alternative- Add Chime Debit Card to Google Pay and then use Google Pay to transfer funds from Chime Account to Another Bank Account
You can also link your Chime Debit Card to Google Pay. And then use the Google Pay Service to transfer funds from your Chime Account to another bank account that you have added in Google Pay.
Using Google Pay can be explored as an instant transfer option to move funds from Chime Account to another bank account.
You can refer this page on Chime Website which talks about the instructions on how to add Chime Debit Card to Google Pay.
The Chime Transfer Funds provides you an easy way to move funds from your Chime account to your other bank accounts liked in your Chime App. The best thing is the transfer works free of cost and you can also instantly link the bank account. However, the movement of funds requires the standard bank transfer time of 3 business days.
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