Chime does not offer a traditional savings account, but it does offer a savings feature built into its checking account

Chime's main product is a checking account, not a separate savings account. However, Chime does include a savings pot feature that lets you set money aside within the same account. This is different from a standalone savings account at a bank like Ally or Marcus — there is no separate account number, no separate login, and no separate monthly statement. The savings pot is a tool inside your Chime checking account that helps you organize money toward a goal.

The savings pot does not earn interest. Chime's checking account itself also does not earn interest on your balance. If you are looking for a place to park money and earn a return, Chime is not the right choice. If you want a simple way to mentally separate "money I spend" from "money I am saving," the pot feature does that work.

Key Takeaways

  • Chime offers a savings pot feature within its checking account, not a separate savings account with its own account number.
  • The savings pot does not earn interest, and neither does Chime's checking account balance.
  • You can create multiple savings pots and name them for different goals, but the money stays in the same Chime account.
  • If you need interest-bearing savings, you will need to open an account elsewhere, such as a high-yield savings account at another bank.

How the Chime savings pot works

When you open a Chime checking account, you can create one or more savings pots directly in the Chime app. You give each pot a name — "Emergency Fund," "Vacation," "Car Repair" — and set a target amount if you want. Then you move money from your main checking balance into the pot.

The money in the pot is still part of your Chime account and still accessible. You can move it back to your main balance anytime, and you can spend it using your Chime debit card if you need to. The pot is purely organizational — it is a way to tell yourself "this money is for that goal" without actually locking it away or earning anything on it.

When a savings pot makes sense

A savings pot is useful if you struggle to keep money separate mentally. If you get paid and immediately see one big balance, you might spend it all. If you move part of it into a pot labeled "Emergency," you are less likely to tap it for everyday purchases. It is a behavioral tool, not a financial one.

A savings pot is not useful if you want your money to grow. Because there is no interest, your $1,000 in a Chime savings pot will still be $1,000 in six months. At a high-yield savings account elsewhere, that same $1,000 might earn $15 to $30 depending on the rate. Over years, that difference compounds.

Chime's other features

Beyond the savings pot, Chime offers early direct deposit — you can receive your paycheck up to two days early if your employer supports it. Chime also offers SpotMe, a feature that lets you overdraft up to a certain amount without a fee, though you do have to pay back what you borrowed. There is no monthly fee for a Chime checking account.

Chime does not offer credit cards, loans, or investment accounts. It is a checking account with some convenience features, not a full-service bank.

Where to put money if you want interest

If you want your savings to earn interest, you need to open a separate account at a different bank. High-yield savings accounts at online banks like Ally, Marcus, or Wealthfront currently offer rates between 4% and 5% annually, though rates change. You can open one of these accounts while keeping your Chime checking account — many people use Chime for spending and a high-yield account elsewhere for savings.

You can move money between Chime and another bank using an ACH transfer, which usually takes one to three business days. Some people set up automatic transfers — for example, moving $100 from Chime to their high-yield savings account every payday — to build savings without thinking about it.

Chime versus banks with savings accounts

Traditional banks like Chase or Bank of America offer both checking and savings accounts. Their savings accounts earn very little interest — often 0.01% or less — but they are separate accounts with separate account numbers. Some people prefer this separation for psychological reasons or because it makes tax reporting clearer.

Online banks like Ally offer checking accounts that earn interest and savings accounts that earn higher interest. If you want everything in one place and you want your money to earn something, an online bank might be a better fit than Chime.

Frequently Asked Questions

Can I earn interest on money in a Chime savings pot?

No. Chime savings pots do not earn interest. The money sits in your account at 0% return. If earning interest is important to you, you will need to move money to a high-yield savings account at another bank.

Can I have multiple savings pots in Chime?

Yes. You can create as many pots as you want and name them for different goals. Each pot is just a label for a portion of your Chime balance — the money is all in the same account.

What happens if I need to access money in my savings pot?

You can move money from your savings pot back to your main Chime balance instantly, or you can spend it directly using your Chime debit card. There is no waiting period or penalty.

Does Chime charge a monthly fee?

No. Chime checking accounts have no monthly maintenance fee. You do not pay to use the savings pot feature either.

Can I transfer money from Chime to a savings account at another bank?

Yes. You can set up an ACH transfer from Chime to any other bank account you own. The transfer usually takes one to three business days. Many people use this to move money from Chime checking into a high-yield savings account elsewhere.