Chime is not a bank — it's a financial technology company that partners with banks to offer accounts

When you open a Chime account, you are not actually banking with Chime. Chime is a financial technology company, which means it builds apps and services but does not hold your money itself. Instead, Chime partners with two banks that do the actual banking: Chime Bank (which is a division of Stride Bank, N.A.) and Chime Savings Bank (which is a division of Bancorp Bank, N.A.). Your money sits in one of these two banks, depending on which Chime account type you have.

This matters because it affects where your money is protected. The Federal Deposit Insurance Corporation (FDIC) insures deposits at actual banks up to $250,000 per account holder per bank. Because Chime's money is held at real banks, your Chime deposits are FDIC-insured — but only up to $250,000 at each partner bank. If you have both a Chime checking account and a Chime savings account, they may be insured separately depending on how they are structured, so the total protection can be higher.

Key Takeaways

  • Chime is a technology company, not a bank, so your account is actually held at either Stride Bank, N.A. or Bancorp Bank, N.A.
  • Your deposits are FDIC-insured because they sit at real banks, protecting your money up to $250,000 per bank.
  • Chime's partner banks are the ones that appear on your statements and routing numbers, not "Chime Bank" as a standalone entity.
  • Understanding the real bank name matters if you need to contact your bank directly or verify your account protection.

How Chime's partnership structure works

Chime acts as the middleman between you and the bank. You read the Chime app, create an account through Chime, and use Chime's interface to manage your money. Behind the scenes, Chime sends your information to one of its partner banks, which opens the actual account and holds the funds. You never directly contact Stride Bank or Bancorp Bank — Chime handles all customer service and the app experience.

This is why your Chime debit card works like a regular bank card: it is connected to a real bank account with a real routing number and account number. When you check your account details in the Chime app, you will see a routing number and account number that belong to either Stride Bank or Bancorp Bank, depending on your account type. These are the numbers you use if you need to set up direct deposit or wire transfers.

Which partner bank holds your account

Chime uses Stride Bank for most of its checking accounts and Bancorp Bank for some savings products and specialty accounts. The specific bank depends on the account type you open. When you sign up, Chime will tell you which bank your account is at, and you can also find this information in your account settings or on your statements.

Both Stride Bank and Bancorp Bank are real, FDIC-insured banks, so the protection is the same regardless of which one holds your account. The main difference is the routing number and some minor features, but from your perspective as a Chime user, the experience is nearly identical.

Why Chime uses partner banks instead of being a bank itself

Becoming a bank requires federal and state licenses, significant capital, and ongoing regulatory oversight. Chime chose to partner with existing banks instead because it allows the company to focus on what it does best: building technology and offering low-cost accounts. This model is common in the financial technology industry — many apps and online banks work the same way.

For you as a customer, this partnership model is actually a benefit. It means your account has the same legal protections as any other bank account, including FDIC insurance and the same fraud protections. You get the convenience of a modern app without sacrificing the safety of traditional banking.

How to find your actual bank name and routing number

Open the Chime app and go to your account settings or account details. You will see your routing number and account number listed there. The routing number will tell you which bank holds your account: Stride Bank's routing numbers start with 084 or 085, and Bancorp Bank's routing numbers start with 031.

You can also call Chime's customer service and ask which bank your account is at. They will tell you when ready and can explain any account-specific details. If you need to verify FDIC insurance coverage, you can visit the FDIC's website and search for the bank name to confirm it is insured.

What this means for your account security and protection

Because your money is held at a real bank, it has the same legal protections as money in any other bank account. FDIC insurance covers deposits up to $250,000 per depositor per bank. If you have a Chime checking account and a Chime savings account, they may be insured separately, potentially giving you up to $500,000 in coverage across both accounts — but this depends on how the bank structures them.

Chime itself does not hold your money, so if Chime the company were to fail, your money would still be safe at the partner bank. This is an important distinction: the safety of your deposits does not depend on Chime's financial health, only on the bank's.

Frequently Asked Questions

Is Chime Bank a real bank?

Chime Bank is a division of Stride Bank, N.A., which is a real, FDIC-insured bank. However, you cannot open an account directly with Stride Bank — you open it through Chime. Chime is the technology company that manages the customer experience.

Will my direct deposit work if I give my Chime routing number?

Yes. Your Chime routing number belongs to either Stride Bank or Bancorp Bank, and direct deposit will work just like it would at any other bank. Your employer or benefits administrator can deposit money directly into your Chime account using the routing and account numbers from your Chime app.

What happens to my money if Chime goes out of business?

Your money stays at the partner bank (Stride Bank or Bancorp Bank) and remains FDIC-insured. Chime is just the technology layer — the actual bank holds your deposits, so your account is protected regardless of what happens to Chime as a company.

Can I contact Stride Bank or Bancorp Bank directly about my account?

You can contact them, but they will likely direct you back to Chime because Chime manages the customer relationship. For most issues, Chime's customer service is the faster route. However, if you have a specific question about FDIC insurance or banking regulations, the partner bank can answer it.