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Find Your Perfect Loan – Any Amount, Any Time!

October 10, 2024

Finding the right loan can feel overwhelming, but it doesn’t have to be. Whether you need a small sum to cover unexpected expenses or a large loan for a significant purchase, there’s an option out there for you. The key is to find the best lender with the most competitive interest rates and terms. It may be from a credit union, online lender, or even from your local bank.

Let’s help you find your perfect loan anytime you need it!

Where to get a personal loan

Finding the right personal loan starts with understanding where to apply. Each type of lender offers unique advantages and potential drawbacks. Here’s a closer look at your options:

Online lenders

Online lenders let you apply for a loan from the comfort of your home. Depending on the lender and your qualifications, you can get a loan for $1,000 up to $100,000. Online lenders usually feature streamlined application processes, fast funding, and lenient loan requirements. You can often be approved and receive the funds in your bank account the same day. 

One key advantage of online lenders is their flexible requirements. Many lenders will approve borrowers with bad credit. Some place less emphasis on your credit score, preferring to look at income, debt levels, and employment stability. Others do not conduct a credit check at all. 

The downside of bad credit loans from online lenders is they often come with higher costs. When you have bad credit, you may be stuck with a 36% APR (annual percentage rate) – the maximum APR financial experts consider affordable. Of course, if your credit score is good – above 690 – then the APR you receive will be considerably less. 

It’s essential to do a little research and read customer reviews to ensure you’re working with a reputable company. While there are always lenders to steer clear of, there are also plenty of great options out there.

Credit unions

Credit unions are non-profit member-owned financial institutions. They are known for providing more personalized service and lower rates than banks. The National Credit Union Association (NCUA) actually capped the interest rate at 28% APR for credit union personal loans. Their loan amounts are also lower than banks ranging from $200 to $50,000.  If you’re already a member of a credit union, or willing to join one, this can be a great way to secure a personal loan.

Credit unions are known for their willingness to work with borrowers who may not meet traditional credit requirements. They often focus on building relationships and helping members achieve their financial goals rather than credit scores. Because they are nonprofit, any earnings are reinvested into member benefits, including better loan terms.

The main limitation is that credit unions require membership. Membership criteria may involve living in a specific area, working in a certain industry, or being part of an affiliated organization.

Cash advance apps

Cash advance or paycheck advance apps are revolutionizing the lending industry by offering small personal loans directly through mobile platforms. Approval often only takes a few minutes and funds are available within an hour for a fee. Loan amounts range from $20 up to $1,000.

These apps do not consider your credit score. Instead, they look at your income, bank activity, and spending habits to determine how much to lend you. The lack of a credit check does not translate into a higher interest rate as they don’t charge interest.

Most cash advance apps do charge fees. The fee model varies. It could be a monthly subscription, one-time fee, or optional tip. There’s often a fast funding fee if you need the money the same day. Otherwise, you can receive the funds for free within one to three business days. 

Advances are typically deducted from your next paycheck. While this can make budgeting tight, most apps let you change the date or have lenient consequences if you’re unable to pay on time. Many – not all – do not charge late fees or report missed payments to the credit bureaus. Typically, they simply won’t let you borrow again until you repay the money owed. Check with your app to find out its exact rules.

Banks

Banks provide the reassurance of working with a long-established financial institution. They are a traditional source of loans with borrowing options from $1,000 to $50,000 (up to $100,000 for some). Banks are a great choice if you have an existing relationship with one. Many offer competitive interest rates and flexible repayment terms. They tend to be particularly favorable for customers with strong banking relationships and good credit.

To apply, you can visit a branch in person or apply online. If you choose to apply in person, a specialist can walk you through the different loan products and help you find the right one for your financial situation. Either way, the process often takes longer as it involves more paperwork and manual underwriting.

The main drawback to banks is that they have stricter eligibility requirements. The bank may require a good credit score or necessitate that you have an account with them before lending to you. It’s harder for borrowers with less-than-perfect credit to qualify, but, if you’re eligible, a bank loan can be an excellent option for low rates and predictable terms.

How to compare personal loans

Choosing the right personal loan requires understanding the key factors that affect its cost and convenience. Here’s how to evaluate each aspect:

Annual percentage rate

The annual percentage rate or APR represents the total cost of borrowing. It includes both interest and fees, expressed as a yearly percentage. It’s one of the most important factors to compare because it determines how much you’ll pay over the life of the loan. 

Lower APRs save you money, but they may require good to excellent credit. Be wary of lenders advertising low interest rates but charging high fees that inflate the APR. Always compare APRs between lenders, not just the interest rate, to get the most accurate picture of costs.

Repayment term

The repayment term is the length of time you’ll have to pay back the money. It can range from a few months to several years. Shorter terms mean higher monthly payments but lower overall interest costs. Longer terms, on the other hand, reduce monthly payments but increase the total cost. 

Consider your budget when choosing a term. Can you afford a higher monthly payment to save on interest. Or do you need lower payments for flexibility? It’s very important to be able to make payments on time. Choose the shortest repayment term you can comfortably afford.

Fees

Fees can significantly affect the total cost of a loan. Common fees include origination fees (a percentage of the loan amount), late payment penalties, and prepayment penalties for paying off the loan early. 

While some lenders charge no fees, others may include them in the loan terms, raising the overall cost. Always ask for a breakdown of fees before committing to a loan. Look for lenders that offer transparency and minimal additional charges.

Funding timeline

If you need cash quickly, the speed of funding is crucial. Some lenders can deposit funds within a day or two, while others may take a week or more. 

Online lenders and cash advance apps tend to have the fastest turnaround times. They often can send the money the same-day if you pay a fee or apply before noon. Banks and credit unions usually have more extensive approval processes. Check the lender’s estimated funding timeline and ensure it aligns with your needs, especially for emergencies.

Unique perks

Many lenders offer perks that can set them apart. They may provide rate discounts for autopay, free financial education resources, or flexible payment options like skipping a payment after you’ve made a certain number of on-time payments. Other lenders might offer loyalty benefits if you have multiple accounts with them. Consider these perks when comparing loans. They may end up saving you money or make it more convenient to borrow from a specific lender.

Pros and cons of personal loans

Pros

– Can be used for a various purposes

– You can spread out large expenses

– Consolidate high-interest debt

– Predictable monthly payments

– Fixed interest rates

– Fast funding

– No collateral required

– Lower interest rates than credit cards

– Lump sum disbursement 

– On-time payments will build credit

Cons

– A strong credit profile and decent income are necessary for the lowest rates

– Increase your debt load

– No continuous borrowing

– Lenders may charge upfront fees

– Potentially high monthly payments

– Missed payments will hurt your credit score

– Cannot be used for business or educational purposes 

Ways to use a personal loan

Debt consolidation

Personal loans are often used to combine multiple high-interest debts into a single payment with a lower interest rate. The monthly payments are simplified into one more affordable bill. You have a timeline on when you’ll be out of debt. And you can save money on interest.

Home improvement

Whether it’s remodeling a kitchen or upgrading your HVAC system, a personal loan can provide the funds for home improvement projects. Unlike home equity loans, personal loans don’t require collateral, making them a less risky option.

Large expenses

Big-ticket purchases like appliances, furniture, or electronics can be financed through a personal loan. Loans allow you to spread payments over time instead of paying upfront.

Life events

Weddings, vacations, or other major milestones can be expensive. Personal loans can help you cover the costs without draining your savings.

Emergencies

Unexpected expenses, such as car repairs or urgent travel, can strain your budget. A personal loan provides quick access to cash to manage these situations.

Medical bills

Healthcare costs can be overwhelming. Personal loans can bridge the gap, helping you pay for treatments, procedures, or unforeseen medical expenses.

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Things to consider before applying

Taking out a personal loan is a significant financial decision. Before you borrow, assess your financial situation.

Check your credit

Your credit score plays a major role in whether you’re approved for a loan and at what rate. Check your credit score so that you know where you stand. Then, review your credit report for errors. If you find any inaccuracies, dispute them with the issuing credit bureaus. You can get your credit reports for free via annualcreditreport.com. A higher score can unlock better terms and lower costs.

Review your debt-to-income ratio

Your debt-to-income (DTI) ratio shows how much of your income goes toward paying debt. Most lenders prefer a DTI below 35%. Calculate yours to ensure you’re not over-leveraging your finances. If your DTI is too high, try to bring it down before applying.

Research lenders

Research multiple lenders, including banks, credit unions, and online platforms. Compare interest rates, fees, loan terms, and funding timelines to find the best fit for your needs.

Add a co-applicant

If your credit isn’t strong, adding a co-applicant with good credit can increase your approval chances and result in a better interest rate. This is because a co-applicant is equally responsible for paying the loan and so reduces the lender’s risk.

Consider secured personal loans

Secured loans are backed by collateral. Collateral can be a vehicle, property, or savings account – anything of value. The advantage of secured loans is they often have lower interest rates, even for borrowers with bad credit. Lenders lower the rates and accept poor scores because they can seize your asset if you fail to repay. Assess whether this trade-off is worth the savings.

Consider your overall financial well-being

Ensure your budget can handle monthly loan payments without straining other obligations. Make sure that loan aligns with your long-term goals and stability.

How to get a personal loan

1. Calculate your payments

Before applying, determine how much you can afford to borrow and repay monthly. Use a loan calculator to estimate payments based on the loan amount, interest rate, and term. Ensure the payment fits comfortably within your budget to avoid financial strain. This step helps you set realistic borrowing expectations and prevents overextending your finances.

2. Pre-qualify and compare offers

Pre-qualifying allows you to check potential rates and terms without affecting your credit score. It also gives you insight into your approval chances. Most lenders offer this perk and only ask for basic personal information.

Prequalify and compare offers from at least three different lenders. Look at the APR, fees, loan amount, and repayment terms. Then select the best loan for your situation.

3. Gather documents

The exact documents you’ll need will vary based on your lender. Generally, you’ll have to provide proof of identity, income, and residence. Common documents include government-issued ID, pay stubs, bank statements, and utility bills. Having these ready speeds up the application process.

4. Formally apply

Once you’ve chosen a lender, complete the application online or in person. Provide accurate information and submit the necessary documents. Be prepared for a hard credit check. A hard inquiry may drop your credit score by a few points but it’s only temporarily. Approval times vary but can be as quick as a few minutes.

5. Get your money

After approval, review the loan terms before accepting. Read the fine print and make sure that you can afford the payments.

Funds are typically deposited directly into your bank account. Online lenders may provide same-day or next-day funding. Banks and credit unions may take a few days. Once you receive the funds, use them responsibly and stick to your repayment plan.

Frequently asked questions

1. How do I know which loan is best for me?

To figure out which loan is the right one, you will have to prequalify and compare offers. Take a look at the APRs, fees, repayment terms, and amounts. The best loan will have affordable monthly payments, few additional fees, and a low APR.

2. When will I receive the personal loan funds?

Funding timelines vary by lender. Online lenders and cash advance apps may send money into your account the same day or the next day.  Banks and credit unions might take several days. Check the lender’s processing time before applying, especially if you need funds urgently.

3. How do personal loans affect your credit?

Personal loans can impact your credit positively or negatively. Their effect mainly depends on how you handle them. Applying will likely trigger a hard inquiry, temporarily dropping your score. On the other hand, adding a loan to your credit mix can boost your score. Make on-time payments each month, and you will build credit. Late or missed payments will damage your score.

4. Can I get a loan with bad credit or no credit history?

Yes, some lenders specialize in loans for borrowers with bad or no credit. Options include online lenders, credit unions, or secured loans requiring collateral. Expect higher interest rates or stricter terms. Improving your credit before applying can help get you better offers.

5. What are good alternatives to loans?

If you don’t want to take out a loan, see if you can dip into savings, borrow from loved ones, or get a balance transfer credit card with a 0% APR introductory offer. Another route is to explore community assistance programs that can help with rent, utilities, and food. Call 211 to find resources near you.

6. What is the minimum income needed for a personal loan?

There’s no standard minimum income requirement; it varies by the lender. Lenders are usually more interested in your ability to repay the loan. They will also consider your DTI. If you have a low ratio – below 35% – you may qualify for a loan even with a low income. Other ways to get around a low income is to apply with a cosigner or ask for a smaller amount. Online lenders and credit unions are usually more flexible with their lending requirements.

Bottom line

Finding the perfect loan doesn’t have to be daunting. Whether you’re covering an unexpected expense, consolidating debt, or financing a major life event, there’s a loan tailored to your needs. 

Choosing the right borrowing option starts with understanding your financial situation. Both what you need to borrow and what you can afford to repay. Then, compare lenders, evaluate terms, and make an informed choice. By carefully weighing these factors, you can secure a loan that fits your needs and sets you up for financial success.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
2. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
3. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.
4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
5. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC
6. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.
7. You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.
8. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
9. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.
10. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.
11. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.
12. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.
13. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
14. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
15. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
16. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
17. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
18. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
19. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
20. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
21. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
22. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
23. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
24. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
25. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
26. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
27. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
28. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
29. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
30. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
31. Tipping or not tipping has no impact on your eligibility for SpotMe®.
32. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
33. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
34. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
35. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.
36. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
37. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
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About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

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