Yes, Chime does work with Zelle, but not directly. I'll show you later, how to setup Chime with Zelle.
Chime is a popular financial institution that offers fee-free banking services including a free checking account with virtual debit card, among others.
Chime features a cash advance feature known as Chime SpotMe which lets users borrow money from the platform.
Zelle, on the other hand, is a popular P2P payment app that let's users send and receive money securely.
Zelle has been one of the convenient and quick ways to move money between banks.
Zelle works with most U.S. banks and credit unions, and since Chime is not a bank, many users are wondering "does chime work with Zelle?"
If you're one of them, keep reading.
That being said, this article focuses on briefly answering the question does Chime work with Zelle and at the same time, showing you how to setup Chime to work with Zelle.
Table of Contents
Does Chime Work With Zelle?
We all know Zelle works with U.S. banks and credit unions, and since Chime is an online-only financial institution, Zelle's support for Chime must be put into question.
In a direct point of view, Chime does not work with Zelle. However, there's a way or walkaround for using Chime with Zelle: — it's simple and straightforward.
At the moment, Zelle can only be used with traditional banks. Consider financial institutions with physical structures, including Bank of America, Wells Fargo, JP Morgan, Citigroup, and Regions. Banks that only conduct business online cannot use Zelle.
Chime cannot be used with Zelle directly because it is an online bank.
Therefore, using a physical bank as the middleman is the best solution to get around this problem. This will be covered in later paragraphs.
How to Set up Chime to Work with Zelle?
Download both the Chime and Zelle app. You will also need to have accounts with Chime and Zelle.
- Open Zelle app and search for Chime.
- You won't see Chime as a supported bank since Zelle does not support Chime.
- You should see a "don't see your bank?" option show up.
- Click on that and enter your Chime debit card number and other details.
After completing this, you will be able to use your Chime account to transfer money using Zelle.
What Bank Does Chime Use for Zelle?
Chime uses Stride Bank and The Bancorp Bank.
Chime must offer banking services outside of the corporation because it is technically not a bank but a FinTech company.
However, clients may relax knowing that their money is secure because all Chime accounts are FDIC-insured.
This means that the insurance on their accounts will be limited to a total of $250,000 for each individual account.
Spreading this out among numerous accounts is a good idea if a consumer has more than this in one account.
Therefore, if a customer has two accounts (let's say a checking account and a savings account), they can assign $250,000 to each and be insured on both.
The insured amount in a joint account with one additional person is up to $500,000.
Even though the majority of people rarely use this information, it is nevertheless a good idea to be aware of it in case someone receives a financial windfall.
Also Read: Best Online Bank Providers In The World
How Fast is Zelle Payments Sent Using Chime?
It should just take a few minutes if both accounts for Zelle and Chime were recently created.
The entire process won't take long at all because the transfers from Zelle to your bank and then from your bank to Chime can each be completed in a matter of minutes.
It will probably take 1 to 3 business days if an account needs to be created or if you need to transfer money outside of the bank that is compatible with any of them.
It takes time because, for a newly created account, Zelle and/or Chime must confirm the user's identification and ensure that their financial information was entered accurately.
The money will be ready to be released after this is completed. It is best to double-check that all the information was entered accurately and that there were no typos if no money is received after a few days.
Name, number, address, routing number, and account number are details to double-check.
If everything still seems to be in order, get in touch with Zelle or Chime to find out what is delaying the procedure.
On both websites, which can be found in the last section, they each feature a list of their customer services.
What Fees to Expect when using Chime with Zelle?
The fact that Zelle doesn't charge users a fee to send or receive money is one of its distinctive features.
Other peer-to-peer fund transfer platforms, like Venmo or Cash App, impose a variety of fees for quick withdrawals or credit card payments.
If the transfer is for a large amount, the costs, which may be as high as 3% of the transfer, can add up to a significant amount.
How to Send Money from Zelle to Chime
To send money from Zelle to Chime, you'll need to use a linked bank account that is supported by Zelle (a traditional bank account is preferred).
You will next need to provide your bank account and routing numbers to Zelle and Chime.
The account number, which is often between 8 and 12 digits long, is for your individual account at the bank of your choice.
The routing number, which is always 9 digits long, is the number linked to your bank.
Now, open your Zelle app and send the money to your linked bank account.
Once the funds in your bank account, you can now conveniently move it to your Chime account.
What's the Weekly Transfer Limit for Between Chime and Zelle?
If the transfer is made from Zelle to a bank that does not participate in Zelle network, the weekly transfer cap is $500.
This is the weekly transfer cap because Chime isn't immediately accessible through Zelle.
The weekly cap, however, is significantly higher if the bank is a Zelle participating bank.
The cap set by Bank of America is $3,500. It is $2,500 at Wells Fargo, Citibank, and TD Bank.
Chase has a $2,000 cap.
The weekly cap for USAA and PNC is $1,000.
It might make more sense to utilize a different bank to complete a transfer that requires more money than $500 so that it can be completed in a single transaction.
Chime has daily and monthly transfer caps for payments from outside accounts.
The daily and monthly transfer caps are $10,000 and $25,000, respectively.
Troubleshooting Chime and Zelle Setup
The simplest method to solve problems involving Chime and Zelle setup is to either speak with their customer service representatives directly or browse their websites for frequently asked questions.
You can look up your problem on the help page for Chime.
You can access the link here: Help (chime.com). Additionally, anyone can browse through Chime's FAQ website.
Alternatively, you can get in touch with their Customer Support by dialing 1-844-244-6363 or sending an email to support@chime.com.
Customers of Zelle can check the FAQ section for any problems they may be experiencing. The page can be accessed by clicking this link:
Support - Common Issues | Zelle (zellepay.com). Visit this website (Contact Zelle Consumer Support | Zelle (zellepay.com)) and click the Other button to send a written message to Zelle.
Your name, email address, phone number, and message should be included. Within two business days, Zelle will address your issue.
The phone number to call Zelle is 1-844-428-8542 if that's how you prefer to get in touch.
Final Thoughts: Does Chime Work With Zelle
Chime is a popular financial services company that offer fee free banking services.
Zelle is a popular P2P payment service that facilitates the transfer of funds between banks.
Zelle supports physical banks at the moment and does not directly support Chime since this one is a online-only FinTech company.
However, you can link your Chime debit card to Zelle or use a linked bank account to transfer funds between both apps.
Frequently Asked Questions
Is Zelle compatible with Chime?
No, Zelle is not compatible with Chime. However, you can link a Chime debit card to Zelle and transfer funds between both apps.
How do I transfer money from Zelle to Chime?
Link your Chime debit card to Zelle and transfer funds to your Chime account.
Why is Zelle not working with Chime?
Zelle is not currently working with Chime because Chime is an online FinTech company, and Zelle only works with brick-and-mortar banks for the moment.