I don't mean to belittle Chime. It looks like a neat and easy to use banking app. But strictly speaking it is not a bank - it doesn't have its own FDIC number. I believe that is an important distinction from regulatory and other legal aspects.
Technically you're right. Chime isn't a bank itself. But, the banking services are provided under the Bancorp Bank and Stride Bank. It is FDIC insured up to 250k.
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I don't mean to belittle Chime. It looks like a neat and easy to use banking app. But strictly speaking it is not a bank - it doesn't have its own FDIC number. I believe that is an important distinction from regulatory and other legal aspects.
Technically you're right. Chime isn't a bank itself. But, the banking services are provided under the Bancorp Bank and Stride Bank. It is FDIC insured up to 250k.