Chime

Chime provides a technology platform for bank accounts, payments and related financial products, earning revenue primarily from card interchange. Chime itself is not a bank. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; eligible deposit-insurance coverage applies to deposits at the partner banks, not to Chime itself.⁠[3]

In Plaid’s Intelligent Finance interview, Britt described Jade as an in-app AI assistant that reviews spending history, flags anomalies and identifies potentially excessive bills. He presented broader debt, bill and savings management as a future ambition, advocating explanations and user assent before AI acts. He also reiterated that bank-holding-company status remained contingent on approval of the Stride transaction.⁠[4]

The company’s timeline records a card without monthly fees or minimum-balance requirements in 2014, Get Paid Early in 2015, expanded checking and savings accounts in 2016, and Pay Anyone in 2017. SpotMe followed in 2019 and the secured Credit Builder card in 2020.⁠[3]

On March 29, 2021, CaliforniaCaliforniaCalifornia is a U.S. state on the Pacific coast; its capital is Sacramento and its largest city is Los Angeles. California was admitted to the Union on September 9, 1850, as the 31st state. Its population at the 2020 Census (April 1, 2020) was 39,538,223, the largest of any state.Open the full entry’s Department of Financial Protection and Innovation settled with Chime over its prior use of chimebank.com and certain banking terminology. Without admitting or denying the findings, Chime agreed to discontinue that domain unless authorized and to make clear in its website, app and advertising that it was not a bank and that banking services came from partner banks.⁠[5]

Chime acquired New York-based Salt Labs in 2024, subsequently developing it into Chime Enterprise to bring Chime products to employees through their employers. In September 2026, it opened an approximately 84,000-square-foot, three-floor East Coast hub in Manhattan’s Flatiron district for product, engineering, enterprise and other teams.⁠[6]

A February 2024 California consent order required Chime to pay $2.5 million, improve complaint handling, maintain around-the-clock support and submit compliance reports. The investigation covered January 2020 to September 2022 and found unfair conduct in some complaint handling. Chime accepted the order without admitting or denying the findings.⁠[7]

On May 7, the CFPB found that Chime had delayed returning balances after thousands of account closures, including thousands in which refund checks were not issued within 90 days. Its order required a $3.25 million civil penalty, at least $1.3 million in consumer redress and corrective action.⁠[8]

Chime priced its IPO at $27 per share, initially announcing 32 million shares comprising company shares and sales by existing stockholders. The offering closed on June 13, 2025 with 36.8 million shares including the underwriters’ option. Chime received approximately $770.6 million net of underwriting discounts and offering costs; proceeds from selling stockholders’ shares did not go to the company.⁠[9][10]

In its 2025 shareholder letter, Chime reported approximately $2.2 billion in annual revenue, up 31%, and 9.5 million active members. It also reported completing migration to ChimeCore, its proprietary payments processor and ledger, which it described as a foundation for faster product development and lower processing costs.⁠[11]

Chime pledged 1% of its equity to the Chime Scholars Foundation. An August 2026 announcement reported nearly $10 million in scholarships since 2022 for almost 1,500 students. The 2026–2027 cohort received $3 million for 800 students, supporting degrees, certificates and vocational education.⁠[12]

On September 8, 2026, Chime announced an agreement to acquire longtime partner Stride Bank for $590 million in cash. On completion, the bank would be renamed Chime Bank and become a wholly owned subsidiary. Closing was expected in the first half of 2027, subject to OCC and Federal ReserveFederal Reserve SystemThe Federal Reserve System is the central bank of the United States. Created by the Federal Reserve Act of 1913, it consists of the Board of Governors in Washington, D.C., twelve regional Federal Reserve Banks and the Federal Open Market Committee (FOMC).Open the full entry approval and other conditions; Chime projected over $100 million in annual net after-tax synergies.⁠[13][14]

On November 3, Chime expanded its WorkdayWorkdayWorkday is a US enterprise software company founded in 2005 by Aneel Bhusri and Dave Duffield; it provides cloud applications and AI agents for HR, finance and IT, is headquartered in Pleasanton, California, and is listed on Nasdaq under the ticker WDAY.Open the full entry partnership so employees of Workday customers could select Chime through Enhanced Direct Deposit without manually entering account details. The integration requires no additional employer setup and is free for employers, complementing the companies’ Workday Wellness relationship. The announcement notes that certain optional financial services may still carry fees.⁠[15]

Results released November 4 reported quarterly revenue of $718 million, up 32%, net income of $44 million and a third consecutive GAAP-profitable quarter. Active Members reached 10.9 million, up 20%. Chime reported expanding Chime Invest to all members and introducing joint accounts, while continuing to expect the Stride transaction to close in the first half of 2027.⁠[14]