How Old Do You Have to Be to Get a Chime Account?
Understand the eligibility requirements and straightforward process to open a Chime account and manage your finances.
Chime is a financial technology company that provides mobile banking services. It operates by partnering with national banks, such as The Bancorp Bank, N.A. and Stride Bank, N.A., both Members FDIC, to offer various financial products. These services include checking and savings accounts, along with a branded Visa debit card. Chime focuses on providing a digital-first banking experience, emphasizing convenience and the absence of many traditional banking fees like monthly service fees or minimum balance requirements. The company’s business model is primarily based on interchange fees, which are fees merchants pay when customers use their debit cards.
Age Requirements for Chime Accounts
To open a Chime account, an applicant must be at least 18 years old. This age requirement aligns with federal regulations that generally mandate individuals be of legal age to enter into financial contracts and assume financial responsibility. Chime accounts are intended for individual adults and do not typically support joint accounts with minors or specific youth accounts.
While some financial institutions offer custodial or joint accounts for minors, Chime’s platform is designed for adult users who can independently manage their finances. Alternatives for younger individuals might include debit cards specifically designed for teens, often with parental controls, which are offered by other financial service providers.
Information Needed to Open a Chime Account
Before initiating the application process for a Chime account, prospective members need to gather specific personal and identification details. A full legal name, date of birth, and a valid Social Security Number (SSN) are required. These details are used for identity verification and to comply with financial regulations.
Applicants must also provide a current U.S. mobile phone number and a physical residential mailing address in the United States. This address ensures that official communications, including the physical debit card, can be delivered accurately. While a credit check is not required to open a Chime account, the company uses the provided information to verify identity. In some instances, additional forms of identification, such as a state-issued driver’s license, U.S. state ID, U.S. passport, or permanent resident card, may be requested to complete the identity verification process.
Steps to Open a Chime Account
Opening a Chime account can be done through their official website or by downloading the Chime mobile application. The process typically begins by selecting the “Sign Up” or “Apply Now” option.
After submitting the application, Chime reviews the information for identity verification. Most applicants receive approval within minutes, though in some cases, additional document uploads, such as a government-issued photo ID or proof of address like a utility bill, might be requested to complete verification. Once the account is approved, users gain access to their Chime Spending Account, and a Chime Visa Debit Card is typically mailed within one business day, arriving at the provided address within 7 to 10 business days. Users can also access a virtual debit card for immediate digital purchases while awaiting the physical card.