Chime uses multiple banks to hold your money, depending on your account type

Chime itself is not a bank — it is a financial technology company that partners with actual banks to hold your deposits. When you open a Chime checking account, your money sits at either Chime Financial, Inc. (a bank chartered in Delaware) or Stride Bank, N.A. (based in Oklahoma), depending on which product you choose and when you opened your account. Both are real banks with FDIC insurance, which means your deposits up to $250,000 are protected by federal may provide.

The reason Chime uses multiple banks is historical. Chime started with Stride Bank as its partner, then later created its own bank charter through Chime Financial, Inc. to handle more of its own operations. Older accounts may still be held at Stride; newer accounts typically use Chime Financial. You can find out which bank holds your specific account by logging into the Chime app, going to Settings, and looking at your account details — the bank name appears there.

Key Takeaways

  • Chime Financial, Inc. and Stride Bank, N.A. are the two banks that actually hold Chime deposits, and both are FDIC-insured.
  • Your specific account is held at one or the other depending on when you opened it and which Chime product you use.
  • You can see which bank holds your account in the Chime app under Settings and account details.
  • The bank that holds your account is the one that processes your direct deposits, debit card transactions, and ACH transfers.

How Chime's partnership with banks works

Chime does not process transactions itself. When you swipe your Chime debit card or set up a direct deposit, the actual bank — either Chime Financial or Stride — handles the transaction on the backend. Chime's role is to build the app, customer service, and the user experience you see on your phone. The bank handles the actual movement of money, the routing numbers, the account numbers, and the FDIC insurance.

This is why your Chime account has a real routing number and account number tied to a real bank. When your employer sends a direct deposit to your Chime account, they are sending it to whichever bank holds your account. When you use your Chime debit card at a store, that transaction clears through the bank's network, not through Chime's servers.

FDIC insurance and what it covers

Both Chime Financial, Inc. and Stride Bank, N.A. are FDIC-insured banks. This means that if the bank fails, the Federal Deposit Insurance Corporation will reimburse you up to $250,000 per account holder per bank. If you have $15,000 in your Chime checking account, all of it is protected.

The FDIC insurance covers money in checking accounts, savings accounts, and money market accounts. It does not cover investment products, cryptocurrency, or funds held in third-party apps connected to your Chime account. If you use Chime's savings feature or keep money in a Chime savings account, that is also FDIC-insured as long as it is held at one of the two banks.

Why Chime uses two banks instead of one

Chime started as a fintech company without its own banking license. To offer checking accounts and FDIC insurance, it partnered with Stride Bank, which already had a charter and the infrastructure to hold deposits. This worked well for years, and many Chime customers still have accounts at Stride.

In 2020, Chime obtained its own bank charter and created Chime Financial, Inc. This gave Chime more control over its own operations and allowed it to move new customers to its own bank. However, Chime did not force existing customers to move their accounts, so Stride Bank still holds deposits for many Chime users. Over time, as accounts are closed and reopened, more of Chime's customer base has shifted to Chime Financial.

How to find your account's routing and account numbers

Your routing number and account number are specific to the bank that holds your account. You need these numbers to set up direct deposit, make wire transfers, or link your Chime account to another financial institution. Both numbers appear in the Chime app under Account Details or Settings.

If you are setting up direct deposit with your employer, you can give them your routing number and account number directly from the app. Some employers also accept a voided check, which you can request from Chime. The routing number will tell you whether your account is at Chime Financial or Stride — you can search the routing number on the Federal Reserve's website to confirm.

What happens if one of Chime's partner banks fails

If Chime Financial, Inc. or Stride Bank failed, the FDIC would step in and either find another bank to take over your account or reimburse you directly. Your money would not disappear. The FDIC has a process for this: it typically takes a few business days for the FDIC to either transfer your account to a new bank or send you a check for your balance, up to the $250,000 limit.

In practice, bank failures are rare, and FDIC-insured banks are heavily regulated. Chime's partner banks are subject to regular audits and capital requirements by the Office of the Comptroller of the Currency (OCC). This means the banks holding your money are not small or unvetted — they are federally chartered institutions with ongoing oversight.

How Chime's debit card connects to your bank account

Your Chime debit card is issued by the bank that holds your account, not by Chime itself. When you use the card, the transaction is routed through the bank's payment network. The bank deducts the money from your account and sends it to the merchant. Chime's app shows you the transaction in real time, but the actual processing happens at the bank level.

This is why your Chime debit card has a card number, expiration date, and CVV — these are standard features of any bank-issued debit card. The card is connected to your account at Chime Financial or Stride, and transactions are processed according to that bank's rules and the rules of the payment networks (Visa or Mastercard, depending on your card type).

Frequently Asked Questions

Is Chime a real bank?

Chime Financial, Inc. is a real bank with a federal charter. Chime the company is a fintech that operates the app and customer service, but it partners with banks to hold deposits. So the answer is: Chime Financial is a bank, but the Chime app is not — it is a technology platform built on top of a bank.

Can I move my account from Stride to Chime Financial?

You cannot transfer an existing account from one bank to another. However, you can close your Stride-held account and open a new Chime account, which will be held at Chime Financial. Your money will transfer, but you will get a new account number and routing number.

What is the routing number for Chime Financial?

Chime Financial, Inc. uses routing number 065400137. Stride Bank uses routing number 121122676. You can confirm which one applies to your account by checking the Chime app or searching the routing number on the Federal Reserve's website.

If I have money in Chime, is it insured if the company goes out of business?

Yes. Your money is held at a bank (Chime Financial or Stride), not at Chime the company. If Chime the fintech company closed, your money would still be at the bank and still FDIC-insured. The bank would continue to operate your account or transfer it to another institution.

Does Chime charge fees to use a bank account?

Chime does not charge monthly account fees, overdraft fees, or minimum balance fees. However, the bank that holds your account (Chime Financial or Stride) sets the terms. You can review Chime's fee schedule in the app or on its website to see what charges may apply in specific situations.