Yes, you can withdraw money from your Chime savings account, but the method and timing depend on whether you're moving it to your Chime checking account or to an external bank
Chime lets you move money out of your savings account in two main ways: transfer it to your own Chime checking account (when ready, no fees), or send it to an external bank account (takes one to three business days, no fees). You cannot withdraw cash directly from a Chime savings account at an ATM or in person—Chime has no physical branches. If you need cash when ready, you would transfer to your checking account first, then use an ATM or debit card purchase.
The process is straightforward and costs nothing. Chime does not charge transfer fees, early withdrawal penalties, or monthly maintenance fees on savings accounts. The main limitation is that Chime savings accounts are designed for holding money rather than frequent access, but there is no hard cap on how many times you can withdraw in a month.
Key Takeaways
- Transfers from Chime savings to Chime checking happen when ready and cost nothing.
- Transfers from Chime savings to an external bank account take one to three business days and also cost nothing.
- You cannot withdraw cash directly from a savings account at an ATM; you must transfer to checking first.
- Chime does not charge withdrawal fees, early withdrawal penalties, or monthly fees on savings accounts.
- If you need cash the same day, transfer to checking, then use an ATM or make a debit card purchase.
Transferring from Chime savings to your Chime checking account
This is the fastest way to move money out of savings. Open the Chime app, go to your savings account, select "Transfer," choose your checking account as the destination, enter the amount, and confirm. The money appears in your checking account when ready. You can then use your Chime debit card at any ATM or retailer to access the cash.
There is no limit on how many times you can transfer between your own Chime accounts. Some banks restrict savings transfers to six per month under federal rules, but Chime does not enforce that limit on transfers between your own accounts. You can move money back and forth as often as you need.
Transferring from Chime savings to an external bank account
If you want the money in a different bank, you can set up an external transfer. In the Chime app, select your savings account, choose "Transfer," then "Send to another bank." You will need to enter the receiving bank's routing number and your account number at that bank. Chime will verify the account with two small test deposits (usually within one business day), and once verified, transfers take one to three business days to arrive.
External transfers are also free. There is no minimum or maximum amount, though very large transfers may trigger fraud review and take longer. If you are moving a significant sum, contact Chime support beforehand to let them know it is legitimate activity.
Getting cash without transferring to checking first
Chime savings accounts do not come with a debit card or ATM access. If you need cash, you must transfer to your checking account first. Once the money is in checking, you have several options: withdraw at any ATM that accepts Visa (Chime uses the Visa network), use your debit card to buy something and ask for cash back, or visit a branch of a bank that partners with Chime's surcharge-free ATM network.
Chime's surcharge-free ATM network includes over 60,000 machines at retailers like Walmart, Target, and CVS, plus ATMs at many regional banks. You can find participating ATMs in the Chime app by searching your location. Withdrawals at these ATMs are free; using an out-of-network ATM typically costs $2.50.
What happens if you close your Chime savings account
If you decide to close your savings account, Chime will ask where you want the remaining balance sent. You can transfer it to your Chime checking account or to an external bank account. The process takes a few minutes in the app. Once closed, the account cannot be reopened, though you can open a new savings account later if you change your mind.
Closing a savings account does not affect your checking account or your ability to use Chime's other services. There is no penalty for closing.
Limits on savings account withdrawals you should know about
Chime does not impose a withdrawal limit per se, but federal banking rules historically limited savings account transfers to six per month. Chime removed this restriction on transfers between your own accounts, so you can move money from savings to checking as many times as you need. However, if you are transferring to an external bank, that bank may have its own rules about how many incoming transfers it accepts per month—this is rare but worth checking if you plan frequent external transfers.
There is also no minimum balance requirement to keep a Chime savings account open, and no monthly fee. You can maintain a $0 balance indefinitely without penalty.
Frequently Asked Questions
How long does it take to transfer from Chime savings to checking?
Transfers between your own Chime accounts are when ready. The money appears in your checking account within seconds of confirming the transfer in the app.
Can I withdraw money from my Chime savings account at an ATM?
No. Chime savings accounts do not have ATM or debit card access. You must transfer the money to your checking account first, then use an ATM or your debit card. The transfer takes seconds.
Does Chime charge a fee to withdraw from savings?
No. Chime does not charge withdrawal fees, transfer fees, or early withdrawal penalties on savings accounts. All transfers—whether to your checking account or to an external bank—are free.
What if I transfer to an external bank and it takes longer than three days?
Contact Chime support with your transfer confirmation number. Delays sometimes happen due to the receiving bank's processing time, but Chime can investigate if it exceeds three business days. Most delays resolve within a week.
Can I set up automatic transfers from savings to checking?
Chime does not offer automatic recurring transfers from savings to checking. You must initiate each transfer manually in the app. However, you can set up automatic transfers from your checking account to external banks if needed.