Automatic Savings Account Agreement

To be eligible to enroll in the Automatic Savings Features associated with your Chime Checking Account, you must have an open and active Checking Account and a Savings Account.

To be eligible to enroll in the Automatic Savings Feature associated with your Chime Credit Card and Secured Deposit Account, you must have an open and active Chime Credit Card, Secured Deposit Account, and a Savings Account.

Chime reserves the right to cancel or modify the Automatic Savings Feature, or terminate your eligibility, at any time with or without prior notice, subject to applicable law.

You can activate or deactivate the Automatic Savings Feature at any time under the Settings screen in the Chime mobile app or Website at www.chime.com.

How it works

Following your activation of the Automatic Savings Feature, each purchase you make with your Chime Visa^® Debit Card (where you turn on Round Up Transfers for your Checking Account) or with your Chime Credit Card (where you turn on Round Up Transfers from the Secured Deposit Account associated with your Chime Credit Card), will be rounded up to the nearest whole U.S. dollar. For example, if you make a purchase for $15.37, this Automatic Savings Feature will round this up by $0.63 for a total of $16.00.

Once the purchase transaction settles, the Round Up Amount ($0.63 in the example above) will be debited from either the Chime Checking Account (for Chime Visa Debit Card purchases) or the Secured Deposit Account (for Chime Credit Card purchases), and the Round Up Amount will then be transferred to your Savings Account (“Round Up Transfer”). Round Up Transfers will reduce your Available to Spend amount for your Chime Credit Card. Round up Amounts can be between $0.01 and $0.99.

The Round Up Transfer will appear in your Checking Account (for Chime Visa Debit Card purchases) or Secured Deposit Account statements (for Chime Credit Card purchases) as, “Round Up Transfer to Savings Account.” They will appear in your Savings Account statement as, “Round Up Transfer from Checking Account”(for Chime Visa Debit Card purchases) or “Round Up Transfer from Secured Deposit Account” (for Chime Credit Card purchases).

Foreign currency purchases are rounded up to the nearest whole dollar after the purchase is converted to U.S. dollars and posts to your Chime Checking Account or Secured Deposit Account.

Eligible and Non-Eligible Purchases

Eligible purchases include any settled (i.e., fully completed) card present or card not present, Personal Identification Number (“PIN”) or signature purchase transaction made using the Chime Visa Debit Card or Chime Credit Card. This includes online transactions made using the 16-digit card number.

Non-Eligible purchases include any cash withdrawal from an Automated Teller Machine (“ATM”) or Over The Counter (“OTC”) cash withdrawal; bill payment transactions using the Chime Checkbook; cash back received at a Point-of-Sale device; Online Transfers between the Chime Checking Account and the Savings Account; ACH Credits initiated from the Chime Mobile App or Website to another bank account you own; and electronic Automated Clearing House (“ACH”) debit transactions.

Transfer Timing

One (1) Round Up Transfer will be completed for each purchase transaction made with your Chime Visa Debit Card or Chime Credit Card when the purchase transaction settles, i.e., is finalized. A purchase typically settles within 1 to 3 business days of the transaction date: the timing depends on the merchant’s actions. If your purchase is canceled or reversed for any reason (including disputes), the corresponding Round Up Transfer will not be reversed.

Exceptions

• A Round Up Transfer will not be made if a purchase consists of a whole dollar amount, e.g., $5.00
• A Round Up Transfer will not be made if this Automatic Savings Feature for the card you used to make the purchase is turned off at the time the purchase settles.
• If, at the time a purchase settles, your Checking Account or Secured Deposit Account has insufficient available funds to cover the full amount of the Round Up Transfer, the Round Up Transfer will not be made.
• Retroactive Round Up Transfers are not permitted. This means, even if you deposit money, or a credit posts to your Checking Account or Secured Deposit Account, previously unmade Round Up Transfers will not be posted to the Savings Account.