Staying in control of your finances shouldn’t be a hassle. Thanks to digital apps like Chime and Cash App, it doesn’t need to be. Both companies have cottoned on to the demand for low-cost, fuss-free banking solutions, and have provided exactly that with their user-friendly apps. But does Visa’s Chime card work with Cash App? Fortunately, the answer is a decided yes. Linking the two apps isn’t only possible, it’s easy, making transferring funds from your Chime account to Cash App, or from Cash App to Chime a breeze. Here’s everything you need to know about using Chime with Cash App.
What is Chime?
Chime was established as recently as 2013, but despite being a newcomer to the banking scheme, it’s already doing big business – over eight million customers now use Chime, making it the 5th-largest bank in the US. A large part of its appeal is its simplicity – there are no fees (unless you use an out-of-network ATM), and just three products – a savings account, a secured credit card, and a checking account with a debit card. All three products can be managed seamlessly under one app.
What Is Cash App?
Like Chime, Cash App is a new banking system that’s already making huge inroads into the market – according to Time, it grossed $385 million in 2020 – a giant 212% increase on the previous year. As a peer-to-peer payment service, it allows users to transfer payments quickly and easily, in much the same way as transactions are made using online payment services. In addition to allowing users to transfer money via a mobile app, Cash App also offers a bank account with a debit card, along with impressive features such as the option to use the app to buy and manage stock options and invest in Bitcoin.
Are Cash App and Chime Compatible?
One of Cash App’s main benefits is its simple, easy-to-navigate interface, which makes the process of transferring money easier than ever before. Once you have Cash App, you can use it to send money to anyone with a linked bank account – and yes, Chime is accepted. If you’re the one with a Chime account, it’s also possible to link your account or card (or even both) with Cash App so you can ‘cash out.’ However, you might want to bear in mind the cost of transferring to a card – for each instant transfer you make, you’ll be charged a 1.5% fee. If you’d rather avoid the fees, simply connect Cash App to your Chime bank account rather than your debit card. It’s also worth remembering that Cash App will only allow you to hold one account and one debit card on file at one time, so if you want to add your Chime accounts to the app, you’ll need to remove any other bank accounts or debit cards you’ve already linked to the app first.
How Quickly Can You Transfer Money Between Chime and Cash App?
Once you’ve linked your Chime and Cash App accounts, you can start moving money between the two apps straight away. But how long does it take to transfer money between the two? Ultimately, it all depends on which direction the money is going, and whether you’ve linked the accounts via your debit card or bank account. If you’ve linked the accounts via a debit card, transfers from Chime into Cash App are instant. Transfers from Cash App to Chime are also instant, providing you’re willing to swallow a 1.5 percent fee. If you’re not, select the free transfer option to receive your money in 1 – 3 business days. If you’ve linked the accounts via your Chime bank account, transfers into Cash App can take up to 5 business days. Transfers from Cash App into your Chime account will take between 1 – 3 business days. Both transfers are free of charge.
How to Link Your Chime Card to Cash App
The first thing you’ll need to do before you can start using Chime and Cash App together is to link your card with Cash App. Once that’s done, you’ll be able to start making instant transfers immediately. As per atimeforcash.net, linking your accounts can be done using the following steps:
Open Cash App on your smartphone. If you haven’t already installed the app, install it now for free (options are available for both Android and iOS).
Select the banking icon on the bottom of the screen. Select the option to link banks to start linking the accounts.
Enter your full Chime debit card number as directed. Select the option to add your card details. Enter the card’s three-digit security code, expiration date, and associated zip code in the relevant fields.
Wait for the confirmation message from Cash App confirming the card has been linked correctly. Once received, you can start transferring money right away.
How to Link Your Chime Bank Account to Cash App
If you want to connect your Chime bank account to Cash App, either in addition to your debit card or instead of it, the process is just as straightforward as linking your debit card. Just remember that while you won’t have to worry about transaction fees when you transfer money between your accounts, the transfer can take several more days than it would between Cash App and a debit card.
Open Cash App on your smartphone (if you haven’t already installed the app, now’s the time to download it for free).
Select the banking icon on the bottom of the screen. Select the option to link accounts to start the process.
Select the tab for the cardless option to link Cash App to your Chime bank account. Click to continue after reading through the guidelines. You’ll now be presented with a list of bank accounts – scroll through the names until your find Chime. Enter your Chime account details as prompted.
Once you’ve finished inputting your Chime account information, you should receive a security code that will let you verify your Chime account. Enter the code as directed. Continue to complete the process. Now that your accounts are linked, you will be able to start making transfers immediately.