What Is Chime Overdraft? –> 13 Questions Answered (Latest)

Overdraft fees can be a problem. If you wish to purchase something, even a small can of coke can lead to high overdraft charges. 

As you people are aware that Chime is a banking technology company that focuses on providing the best for its users. It created an overdraft option known as Chime SpotMe. It will provide you fee-free overdrafts up to $200.

 In this guide [Chime overdraft Limit] , further, you will get to know about how you can overdraft your chime card, how does chime overdraft work and much more. 

How can you overdraft your Chime Card ?

As you people know that Chime is a banking app that helps you effortlessly and conveniently manage and access your money through your phone as well as with a Chime debit card. It offers a lot of features that help you uplift your savings, build your credit and get cash whenever you require it.

  • If you are short of money on a purchase and think that Chime will help you or let you get by, you are wrong. For your information, Chime does not permit you to just overdraft on your card if in case you don’t have sufficient to pay for a transaction.
  • Now, if you want to overdraft on your chime card, then you can think about the option of registering in the SpotMe program. And then, if you wish to pay for something and don’t have sufficient , Chime will make up the rest and you don’t have to pay any extra fees for it. 

Note: If you planning to visit an ATM to withdraw money then let me update you that it won’t be possible because Chime won’t let you do that. Rather, they’ll turn down the transaction because of inadequate funds.

How can you overdraft Chime Card without SpotMe?

The reason why you cannot use overdraft without SpotMe feature on Chime are mentioned below: 

  • Chime is well-known for not being like the other traditional banks. Undoubtedly, there can be many situations in which you might need to overdraft a little bit on your card. It can because of any reason. 
  • Owing to their attentiveness or commitment to always help their customers, Chime created the SpotMe feature. If in case, you don’t have the SpotMe arrangement in your account, it won’t be possible for you to overdraft on your card.
  • Moreover, your Chime card will be turned down because of inadequate funds. 

How does Chime Overdraft Work’s ? 

chime overdraft
how does chime overdraft works

Let us understand how Chime Overdraft works in brief below:

  • Chime SpotMe(Overdraft) gives you $200 in fee-free overdrafts. 

Once you began using SpotMe, you can overdraft Chime by $20 straightaway and that particular amount can raise up to $200.  However, it will be based on your account history and activity. Also, SpotMe allows you overdraft your Chime card by debit card purchases or ATM withdrawal. There is no overdraft fee for this. 

There isn’t any fee to register in SpotMe. Once your account is set up to receive a justifying direct deposit of $200 or more a month, Chime will definitely cover up to $200 in overdrafts on your account. Moreover, it won’t charge any overdraft fee.

Let’s have a look with an example at how Chime SpotMe can actually help you acquire rapid cash without paying any raised fee, even when you have a negative balance account. 

  • For instance, if you someday visit your favorite restaurant for dinner and that dinner is for  $65, but you only have $50 in your checking account. With most of the other banks, if in case you use your debt card to pay for the dinner you’ll immediately be charged an overdraft fee of $35, turning that dinner out into a $100 affair! There can also be a situation that, your bank could unexpectedly diminish the charge leaving you in a tough and humiliating situation. 
  • However, if you have an access to SpotMe, you can easily pay with your Chime card. You already know that while using SpotMe, $15 overdraft will be covered, without any fee. Then, if next time you make a deposit to your Chime account, your $15 negative balance will be cleared immediately and you can again retrieve your full cash advance limit.
  • For your knowledge, it’s mandatory for you to know that SpotMe  only covers debit card purchases as well as  ATM cash withdrawals. SpotMe isn’t available for person-to-person transfers, ACH transfers, etc. 
  • You can open free Chime account. Sign up first and then you can use it. 

Can I overdraft my Chime card without direct deposit? 

If you people don’t have a direct deposit arrangement with your Chime account, it won’t be possible for you to overdraft. Also, if you want to involve in SpotMe service, you will be needing direct deposit with your account. You will be eligible for its program then. 

Furthermore, you will be in need of at least a $200 direct deposit to be settled into your account to reach the requirements.

What is the Chime overdraft eligibility? 

It’s important for you people to know about Chime overdraft eligibility

Chime members who gets $200 or more than this in qualifying direct deposits over the prior 34 days are eligible. 

Moreover, if you have activated your Chime debit card, you are definitely eligible for Chime overdraft.  

What is Chime overdraft fee ?

chime overdraft fees
What is Chime Overdraft Fees?

An overdraft fee is a fee that your bank charges you whenever a transaction surpasses the available balance in your account. 

Transactions which are included

Online shopping 

ATM withdrawals

Online bill payments 

In-store purchases etc.

What are the different types of Overdraft fees ? 

Whenever you have a transaction that’s more than your account balance, your bank charges regular or standard overdraft fee. Generally, the overdraft fee is $34, however, bank can charge more or less, accordingly. 

Other types include :

  • Overdraft protection fee
  • Returned item fee
  • Non-sufficient fund fee
  • Extended overdraft fee

How can you avoid Overdraft fees ? 

There are various things you can do to avoid overdraft fee –

  • Don’t Be Afraid To Ask Your Bank to Waive The Fees
  • Get Paid Earlier With Direct Deposit
  • Read the Fine Print
  • Double-Check Your Budget
  • Check Your Balances Regularly
  • Switch to a Fee-Free Account
  • Build Up Your Emergency Fund

How much exactly does Chime ‘charge’ for overdraft? 

Chime basically does not have any overdraft fee. Most of the people like this thing about their banking services. 

Those people who qualify can overdraw their accounts by up to $20. There won’t be any penalty charged and you can use your debit cards to drop the accounts as low as negative $200.

Can you get 200 dollars from chime ?

If we talk about Chime and its banking associates, they are not like the other banks. 

Further, Chime believes in having its users back. It permits you to overdraft upto $200 without any fee. 

Also, you are not required to link your Savings account to your checking account. 

It doesn’t even charge any fee for you to participate in SpotMe. 

How do you get $200 Chime on SpotMe? (Chime SpotMe $200) 

SpotMe is definitely available to Chime users who have activated their Chime debit card as well as receive a justifying direct deposit of $200 or even more in a month. 

Once you people get yourself enrolled in SpotMe which is absolutely free, Chime will protect you whenever you overdraft your account by up till $200

Can I overdraft my Chime card for gas ? 

Definitely, you can simply overdraft your Chime card for gas. You just have to use your Chime card while paying. 

Further, Chime SpotMe not only covers your regular purchases on your debit card including- gas, Uber, grocery, etc., but you can also utilize it at ATM for cash withdrawals. 

Moreover, you will get cash back at Walmart as well as supported retail stores. 

When does Chime SpotMe Increase ?

Whoever is an eligible member of Chime, they will get ‘Boosts’ to send friends and family to increase their SpotMe limits. This is really a great benefit which Chime provides its users.

Moreover, your friends and family can also boost you back and help raising your limits.

Try this feature today and see how it works.

Wrap up ! 

We hope that this article was helpful and solved most of your queries. There can be situations in which you might need to overdraft to purchase something or to buy a meal. If you want to do this thing with Chime, you need to first register yourself in SpotMe services. 

Chime will always help it’s members in any case. 

Also Read:


Does Chime overdraft work at ATM ? 

If you have insufficient funds in your account, it’s not possible for you to overdraft your Chime account at the ATM. 
Do not visit to the ATM  and think that Chime will let you escape this. Rather, when you register with Chime’s SpotMe, you will be able to overdraw up $200 at an ATM, but there are various conditions for this. 

Where can you people overdraft Chime Card ? 

If you are using SpotMe, then definitely you can overdraft at gas station, ATM, etc. But, if you wish to send money to friends or somebody, you can’t do this with an overdraft. 

Is it possible to overdraft more than $20 with Chime? 

Yes, definitely you people can overdraft more than $20 with the help of SpotMe services. If you fulfil the requirements, you will then have the chance to overdraft up to $200 on transactions. 
Make sure you meet up all the conditions in order to qualify for the overdraft amount. 

Can you overdraft Chime card for a money order? 

If in case you are trying to get a money order and you don’t have enough funds to cover it, Chime won’t let you people go over.
You will be needing the total amount to finish the transaction for a money order. 

What is Chime SpotMe negative balance? (Chime SpotMe with negative balance) 

Once you enroll in Chime SpotMe, Chime will simply acclaim ‘qualifying transactions’ that ultimately results in a negative balance on your Chime Checking Account up to the limit. 

If in case you reach the limit, Chime won’t approve your any further ‘qualifying transactions’, till your next direct deposit or other deposit.