Chime just sent out an email (pic below) with a few updates for the new and improved account coming on February 10, to be called the ‘Chime Deposit Account.’ All accounts will automatically be upgraded to become Chime Deposit Accounts.
The main update that has importance to use is that they’re stopping the $5.95 inactivity fee. No need to worry anymore about creating activity so as to keep the card free.
I just did a transaction to keep myself fee-free – happy to hear that we can forget about doing those now. It may be time to just close down the account already as it hasn’t been useful recently, but I’ve been keeping it open for now.
I got excited for a moment about the 10% savings bonus, but it’s will be hard to game as it’s only on purchases. 🙂
Also interesting is that Chime will now have a routing/account number which can be used to pay things like credit card bills, etc. And they now have many fee-free ATM’s.
Chime is starting to sound more and more like a real competitive prepaid card for someone who needs one. For our purposes, the inactivity fee part is the main thing interesting here.
