Home Chime Help Chime Money Transfer: Is There Any Limit to Your Transactions?

Chime Money Transfer: Is There Any Limit to Your Transactions?

Chime is an online banking service that aims to provide all the banking requirements right on your fingertips. It is an app-only banking service and does not have any brick-and-mortar branches. Chime is preferred by many people over traditional banks because of its easy to use, convenient features as well as its transparency with its customers. Chime does not charge its users for any hidden fees, unlike traditional banks. Moreover, Chime comes with multiple features that are specifically designed to help working individuals, for example, Chime direct deposit and Cime Instant Transfer features. 

Chime was created by Chris Britt and Ryan King in 2013. It provides its services through the Bancorp Bank and Stride Bank. Opening an account with Chime also make you eligible to a Chime Visa debit card, which can be used at most retailers, markets, franchises, and ATMs. 

Chime has its own P2P service called ‘Pay Friends’ to send and receive money. Users can transfer money for free between Chime online bank accounts. Pay Friends is built into Chime mobile app and can be used to instantly send and receive money to friends, family, and others who have opened a Chime Spending Account. 

image credits – www.freepik.com

How to use Chime to transfer money to your friends?

  • Log in to you Chime mobile app
  • Click on the Move Money tab
  • Select Transfers option
  • Select Pay Friends
  • The app will ask you to enter the recipient’s name, Chime nickname, and phone number and email address. Fill the details carefully. You can also select the name of the recipient from your contact list.
  • Enter the amount of money you wish to send the recipient.
  • Confirm the amount and the Chime member and click continue.

Chime allows you to send up to $2000 every month. Learn more about Chime Spending limit here.

Chime nickname
Chime gives each of its users a nickname to access Pay Friends feature. It makes it easier to send and receive money between Chime app users. All you have to do is enter the recipient’s nickname and other details in the required field to send money to them

Transfer Limit when Sending money to non-Chime members.

Using Pay Friends, Chime users can also send money to people who are not on Chime. You would need a phone number and email address of the recipient. When you send money to a non-Chime member using Pay Friends, they receive an email and text notification asking them to open a Chime Spending Account in order to access their money. The spending limit here is also limited to the overall spending limit of $2000 / month. (Learn more about Chime ATM Limit here)

How to send money to non-Chime members:

  • Log in to your Chime app
  • Tap on the Move Money option
  • Select Transfers option
  • Select Pay Friends
  • Enter your friend’s number and email address or choose a contact from your contact list
  • Enter the amount you want to send and click continue.

Your friends will receive a text or email notification telling them that they have received money which can be accessed by opening a Chime Spending Account. If the recipient does not open a Chime account and claim the money sent to them within 14 days, the money will be returned to the sender’s Spending Account. 

How to Cancel chime money transfer cancellation?

You can cancel the ongoing money transfer on Chime if it is still pending. In order to cancel a pending transaction, tap the transaction in your Chime Spending Account and confirm the cancellation. As soon as you cancel the transfer, the funds are returned to you Chime Spending Account. 

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