Chime is a fee-free mobile banking service, and it was created to make essential banking easier. It’s also free to use, so anyone can have an account and use it. Besides direct deposits, you probably wonder does Chime have mobile deposit. We’ll look into that, including the details, here.
Chime has a Mobile Check Deposit service, and you must qualify for it by receiving funds from specific senders. Those senders can be your payroll provider or employer, a gig economy payer, or government benefits, including Child Tax Credit payments. You’ll be allowed to receive a mobile check deposit if one of these senders has sent you at least $1 or a direct deposit.
Chime offers mobile check deposits, so you can learn more about it here if you’re interested in this service.
Does Chime Have Mobile Deposit? How Mobile Check Deposits Work
Mobile check deposits are one of the most convenient services Chime offers. It allows you to deposit checks from anywhere at any time, so instead of going to the bank, simply take a photo of the front and back of the check and deposit it with the Chime mobile app. Checks eligible for submission are personal, company, cashier’s, government-issued checks, tax refunds, and stimulus checks.
If you’re eligible for this type of service, you can deposit your check using the Chime app. Go to the “Move Money” option on the main screen, then “Mobile Check Deposit.” Select the type of check you wish to deposit and follow the rest of the instructions.
After depositing a check, it must clear in your bank account before you can access the funds. Meanwhile, you should keep the check in case your mobile deposit fails. If the deposit hasn’t arrived in your account after a week, you should contact your bank and see if you have to try making the deposit again.
How Do I Know If I’m Eligible For Mobile Check Deposits?
Chime determines if users are eligible for mobile check deposits based on the accounts they have with their platform, their direct deposit history and amounts, and some risk factors. After you make a mobile check deposit, Chime assesses the risk factors and your account and allows (or denies) the service.
Most often, the eligible parties are those that have received at least one direct deposit of at least $1 from one of the following sources:
- A company or a payroll service provider,
- A gig economy payer,
- Benefits from the government (including Child Tax Credit payments).
What Are Other Ways I Can Send and Receive Money on Chime?
Of course, mobile check deposits are just one of many ways you can send and receive money on Chime. The most popular and recommended way is direct deposits. They’re simple, quick, effortless, and typically work between users.
You can link an external bank account to your Chime checking account and even make a direct cash deposit at one of Chime’s 90,000 eligible retail locations if you want to find more ways besides check and direct deposits.
Direct deposits happen through your company or payroll provider. You must provide your Chime routing and checking account information to your employer or payroll provider to make the direct deposit possible.
You can do that by going to the Chime app and opening the “Move Money” and “Settings” tabs to access your routing and checking account numbers. You can also do this online when you log in to your account from the website.
Cash Deposits Are Available to All Users in Selected Places
Cash deposits are direct and quick but require users to visit one of Chime’s retail locations. Fortunately, the platform works with over 90,000 retail locations that accept cash deposits into any user’s Chime checking account.
For example, when you get to Walgreens, you can request the cashier to pay money into your Chime account. You can make up to three deposits that don’t go over $1,000 every 24 hours and $10,000 every month.
Walgreens and Duane Reade offer free, no-fee cash deposits at any of their locations. You can use other third-party money transfer retailers like 7-Eleven, Walmart, CVS, Dollar General, and Speedway (to name a few,) but they may charge fees or have limits.
External Deposits Are There to Connect Your Bank to Chime
You can link an external bank account to your Chime checking account by going to the “Move Money” option of the Chime app or by opening your account online. In the “Move Money” menu, select “Transfers” and input your bank’s login details.
Once connected, you can make unlimited transfers from your external account to your checking account, and most of the time, the cash will be available within five business days. However, external transfers from a bank account to Chime are currently accepted in the following banks only:
- Bank of America,
- Capital One 360,
- Charles Schwab,
- Navy Federal,
- PNC Bank,
- TD Bank,
- US Bank,
- Wells Fargo.
How Do I Know My Check Is Eligible For a Deposit?
You can quickly learn more about the eligibility requirements for your check. As mentioned above, your checks will be valid if they’re from a rightful employer, payroll provider, gig economy payer, or a government benefit.
However, there are some requirements even for such checks. You’ll be able to make a mobile check deposit with checks that fulfill the following criteria:
- If they’re only payable to you in USD,
- When they’re free of changes and signs of fraud,
- If they haven’t been previously deposited elsewhere,
- If they’re from a bank or financial institution that’s within the US,
- If they’re not older than six months,
- When they’re not digital reproductions.
Additionally, you’ll find the service unavailable if you try to deposit money orders, traveler’s checks, savings bonds, promissory notes, and starter and counter checks.
You Can Receive Money on Your Chime Checking Account in Many Ways
Chime offers many creative ways to deposit money into your checking account. They’re a reliable financial technology company that likes to make sending and receiving money easier. While every payment done via the app is a mobile deposit, you have mobile check deposits as a way of cashing checks. Save yourself from the trip to your local bank and take advantage of the convenience of a mobile banking app like Chime and its check depositing option.