Chime Launches Premium Membership Tier to Drive Deposits
Fintech company Chime has introduced Chime Prime, a new premium membership tier designed to reward customers who make Chime their primary checking account. Members who receive at least $3,000 monthly in qualifying direct deposits automatically gain access to the tier at no cost. Chime Prime offers substantial benefits including 5% cash back on a chosen spending category, 3.75% APY on savings, fee-free overdraft protection, up to $500 early access before payday, and priority customer support. The company also upgraded its existing Chime Plus tier, increasing cash back rewards from 1.5% to 2%. With digital banks now serving as primary financial institutions for 13.8% of U.S. consumers, Chime's strategy reflects broader industry trends toward mobile-first banking. The company reported 9.
