The Chime SpotMe Program: How it Functions | Merits & Demerits

Contradicting to the ruses of overdraft charges. Directly, everyone has been affected. The charges that accrue end up being even with the draft itself and most times more, What is Chime, What is Spotme program, How to enroll in the chime program, Advantages and disadvantages of chime program, How to link up savings account to chime to use Spotme program, How does the Spotme program work.

Back in 2018 alone, Americans paid $34 billion in overdraft fees. This renovated robbery by traditional banks led to the SpotMe program by Chime aiming to eradicate these overdraft charges whilst providing you an easygoing way when you’re in dire need of extra cash.

Far from the fact that most of the traditional banks want to make all the gain in the world, Chime has stood out to be more concerned about your wellbeing

Nothing to worry about, there are no disguised agenda or extra charges to this charity. Just a few terms and conditions which are worthwhile.

All details you’ll need to know about the SpotMe program by Chime have been comprehensively discussed. To save a $350 service charge is worth the minutes used in reading.

When next you’re in doubt and need a little extra buffer to cover a debit card purchase, You have got no worries–we can spot you!

What Is Chime?

Ahead of going into the SpotMe program is all about, we’ll give a little detail on Chime.

Chime is an online-only company that partners with banks to deliver its checking and savings accounts. Their debit card service has SpotMe beneath from The Bancorp Bank, Visa debit cards are accepted, you can use them anywhere at all times.

Bancorp delivers private banking and technology solutions satisfying the need of non-bank companies.

On the report of Nilson Report April, they are the #1 U.S. issuer of prepaid cards and the 8th largest issuer of debit cards.

They are possibilities of you not having heard of The Bancorp bank which is actually on a purpose owing to the fact the bank prioritizes the companies it works with and their goals first.

What Is SpotMe?

The SpotMe program by Chime is a service that gives you overdraft free of any charge. On a lighter note, when the balance is zero, You are being given a cash advance.

Qualified members of Chime make purchases with their debit cards without having any overdraft fee connected.

Typically, SpotMe lets you make purchases with your debit card that overdraws or exceeds your account without an overdraft fee of $20 even up to $100.

Eligiblity For The Chime SpotMe Program?

Qualifying to overdraw from your Chime account with no service fee, there is a need to receive a $500 direct deposit 31 days foregoing the day of the drawing. Only then, you’ll be able to overdraw up to $20 on debit card purchases.

Maximum amount One Can Overdraw Using The Chime SpotMe program?

Aforementioned, a direct deposit of $500 gives you access to a chargeless overdraft of $20 on debit card purchases.

Correspondingly, at the choice of Chime, one can also receive an overdraft of up to $100 or more from the Chime SpotMe program.

Nevertheless, your Chime Account history, direct deposit history and amount, spending activities, and other risk-related factors will be exhaustively examined.

In most situations, people utilize the services of credit repair companies. Though, since the risk items are from your Chime account, credit repair companies may have very little or no leverage.

Worthy of note is that your overdraft limit will be shown in the Chime mobile app which is sometimes increased or lowered by Chime at any time. Possibly, when charges are being accrued to your limit, you’ll be duly informed.

How Does The Chime SpotMe Program Work?

Chime associates having a direct deposit of up to $500 is qualified to enroll in the SpotMe program. Not remembering there’s a program like this, you don’t have to be bothered Chime will notify you.

Primarily, $500 gives you access to a free overdraft of $20. Whereas, when other factors like account activity and history have been checked, you can get up to $100 of overdraft.

Accordingly, when you make a debit purchase surpassing your balance, Chime will spot you up to your limit, but remember this is only applicable when you enroll in the Chime SpotMe program.

As a matter of fact, when the deposit is made, Chime will apply the negative balance to the deposit giving you an unforced option of ‘pay it forward.

Chime unlike all other traditional banks and credit services doesn’t need you to link your savings account before an overdraft can be approved.

With keeping a direct deposit of $500 a month and you’re qualified for an overdraft.

What kind Of Purchases Can Be Using SpotMe?

The Chime SpotMe program covers only debit card purchases.

Overdrawing from ATM withdrawals, Pay Friends transfers, ACH transfers (including direct debits and services like Venmo or Square Cash), or Chime Checkbook transactions isn’t feasible, strictly for purchases using your Chime debit card.

Wondering how to get started, we’ve got you covered. It is right below.

How To Enroll In The SpotMe Program?

First, open the Settings tab in your Chime app to find out if you’re qualified for the SpotMe feature using the latest version of the app.

Having agreed to the SpotMe Terms and Conditions, you are officially registered.

On that occasion, you are eligible to make debit card purchases that overdraft your account up to your limit not including any overdraft fees.

Merits And Demerits Of Chime SpotMe Program

The advantages of SpotMe overshadow the scams. Listed below includes

  • No overdraft fee. You’ll be saved a $35 overdraft fee.
  • No account link up is required
  • Up to $20 to $100 monthly overdraft amount
  • Repayment is on the next deposit

The disadvantages of the Chime SpotMe program includes

  • The overdraft only applies to debit card purchases. That is way too streamlined for robust users.
  • You use only direct deposit and cash deposit can be difficult.
  • An online-only account with no access to physical branches. Tech-averse individuals might find this feature inept.


Chime SpotMe program enables you to get an overdraft free of charge. Although their services are streamlined to your debit card purchases only, it is better than nothing. Calculate the overdraft charge for a year and see the outrageous sum the SpotMe program has saved you.

Give it a try today!

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