Are you looking for ways to transfer or move money from a Chime Credit Builder Account? Well, you are on the right blog.
Chime is one of the most popular financial banks available, although not a physical bank, but offers its services in a virtual space.
People do consider using Chime because of its no-credit-check, no interest rate and it requires no minimum security deposit.
Indeed it is a stress-free financial technology, you don’t necessarily need to deposit before you can create a Chime account.
Chime offers a credit-builder account that can help you build your credit history, or rather start building up your credit scores.
Chime builder cards are slightly different from traditional credit cards. While the traditional credit card may offer some percentage of interest rate to their customers, chime offers a $0 interest rate.
As mentioned, with the Chime builder credit, there isn’t any credit check to apply, it comes with no rewards or sign-up bonus.
This simply means that the Chime credit builder card does not offer any form of reward or bonus when you sign up with them.
However, sometimes you might need to transfer the money available in your credit-builder account, probably to your Chime spending account, or withdraw funds from your Chime spending account.
In this article, I will show you how you can move funds from your Chime credit builder card.
How To Move Money From Chime Credit Builder Card
To get the Chime credit builder card, you need to have a Chime spending account, with about 200$ deposited in the account within the last 365 days.
It is quite easy to transfer money from your Chime credit builder card, Chime ensures that you can only transfer or spend the money available on your card, which is stated in the Available to spend.
To move money from the Chime credit builder card can be done with the following steps:
- Step 1: Open the Chime App and log in
- Step 2: Tap on the Move Money option on the Home screen of the application. Under the Home screen select the Move Money, the move money feature is available if you want to move money to your spending account.
- Step 3: Tap Transfer Funds. Once you select the transfers fund, this is a feature available on Chime to make transfers of money from your chime credit builder to your spending account.
- Step 4: Next tap Chime Credit Builder Secured Account
- Step 5: Select your Spending Account
- Step 6: Enter the amount you want to send
- Step 7: Review the details before authenticating the transfer.
Ensure you have reviewed and cross-checked the details before confirming the transfer.
Can You Withdraw Cash from Chime Credit Builder?
Are you wondering if you can withdraw cash from the chime credit builder?
Well, the answer is yes, withdrawing cash from your Chime builder works closely with how you withdraw your funds from your normal commercials bank.
For you to withdraw money from the Chime credit builder, you must have the chime credit builder card.
It works similar to a debit card and can be used to withdraw funds from all the chime networks without a fee.
Once you have the Chime credit builder card, you are good to go in withdrawing from your Chime credit-builder account.
However, using the Chime credit builder card, you are limited to withdrawing more than 500$ per day, if the amount in your account exceeds that.
But if you have less than 500$ in your Chime credit-builder account, you are only allowed to withdraw the amount available.
However, it is important to note that if you’re using the Chime credit builder card on a non-Chime network, you are likely to withdraw funds based on some charges.
You will also need to set a pin for your Chime builder card before you can start using the card.
Undoubtedly, withdrawing funds from your Chime credit builder isn’t a big task, if you know how to withdraw funds from your bank account using the debit card, then you certainly would understand how to withdraw funds from the Chime credit builder.
All you have to do is to look for ATMs closer to you, to do this:
Open the Chime application, under the homepage, tap the ATM Map, this will locate the ATMs nearest to you.
Can I Use My Chime Credit Builder with No Money?
Unfortunately, you can’t use the chime credit builder with no money, the chime credit builder offers a kind of secured card service that requires some amount of money to be deposited, this mostly for security reasons.
The amount you deposited is regarded as your credit limit.
Before you can use the Chime credit builder you must have made a direct deposit of about 200$ to your Chime spending account.
However, while you don’t necessarily need a minimum amount before you can use the credit builder card, this is because the amount deposited is your credit limit, and you won’t be able to spend exceeding your credit.
Can You Add Cash to The Chime Credit Builder?
Yes, with the help of chime cash deposit partners. All you have to do is, locate a particular retailer that accepts cash deposits like Walgreen locations.
According to Chime, they have more than 90,000 retail locations.
When you get to a particular retail location, ask the cashier to make a direct deposit to the Chime checking account.
However, you are only limited to 3 deposits in a day, and can’t deposit money exceeding $10, 000.
If you are using a registered chime retailer, you don’t necessarily need to pay an application fee, but if you are using other several third-party money transfer systems, like Walmart, and the likes, might request some fee payment.
These payments are normally insured by the FDIC.
Can You Use My Chime Credit Builder Card at The Atm?
Yes, you can use the Chime credit builder card in an ATM, once you have the card and card pin, you are good to go.
However, it is important to note that if you are using a non-chime network, an application fee might be inclusive.
Also, you can only withdraw the amount available on your Chime credit-builder account.
Using the Chime credit builder card you are restricted from withdrawing more than 500$ per day.
Are There Any Fees on The Transfer of Money from Chime Credit Builder to The Spending Account?
There aren’t any transfer fees applied if you are transferring money from your Chime credit builder to your Chime account.
Chime prioritizes liberty, you have no limitations on the amount you can transfer or the number of times you can make transfers from the Chime credit builder to the Chime spending account.
This is because these two services work together.
Can I Overdraft My Chime Credit Builder Card?
You can’t overdraft your credit builder card, overdraft is mostly applicable to unsecured credit cards.
Unfortunately, Chime Credit Builder Card offers a secured credit card, making you limited to spending only the amount available only on your Chime builder credit card.
Also, you can’t force your way of making an overdraft, else, the transaction will be declined.
What is the Chime Credit Builder Card Limit?
Using the Chime credit builder card, you are open to no limit, you can add as much as you can on your chime credit builder.
However, Chime offers a limit on the amount you can spend a day, which must not exceed $10, 000
MORE ON CHIME:
While Chime, isn’t a physical bank, a virtual bank is not limited to providing basic banking services.
With the help of mobile applications, you can transfer money to your friends, who are using Chime, withdraw money from your chime account and as well deposit money to your Chime checking account.
Chime also offers a credit-builder card, that can help you build your credit, without any minimum payment fee, or limitations in making transactions.
With the Chime Mobile application, you can transfer money from your Chime credit builder to your Chime spending account, with ease.
There are also several things you need to be aware of, while using Chime, in terms of the available limits of withdrawal, the minimum required overdraft that stands as your credit limit, and so on.