Chime is a very famous fintech platform that allows people to keep their money and make transactions online. The best part about Chime is, they follow high-security standards so all your money and transactions are safe with them. They also offer cards that make the transaction easier.
Not only can you use the Chime cards to make online and offline transactions but you can also use them to withdraw money from ATMs as well as banks and credit unions. If you use their partnered ATMs then you would not need to pay any extra fee for withdrawing money. But in order to withdraw money from Chime cards, it is very important to know the Chime withdrawal limit, so that you do not end up overusing your card.
In this post, we are going to tell you about the Chime withdrawal limit and from where you can withdraw money using a Chime debit card. We will also tell you how you can increase the withdrawal limit of your Chime card. So are you ready to know it all? Let’s get started.
How Much Can I Withdraw from Chime Card?
Chime has become a very famous banking service in the USA. As per the Chime Revenue and Usage Statistics, more than 12 million people use Chime and more than 8 million people use Chime as their primary bank.
The Chime withdrawal limit totally depends on where you are withdrawing money from. For ATMs, the Chime daily withdrawal limit is $500. Although, there is no limit on the number of times that you can withdraw money from an ATM. For banks and credit unions also, the withdrawal limit is $500. Also, if you are using any non-partnered ATM or any bank or credit union for withdrawing money then you will also need to pay an extra fee. You can get more money using your card along with your signature and PIN.
Chime ATM Withdrawal Limit
If you want to withdraw money from an ATM then you can withdraw up to $500 daily. Although there is no limit on the number of times you can take money from the ATM using a Chime debit card. Also, you can get money for free from Visa Plus Alliance and MoneyPass ATMs because they are Chime free ATM.
Otherwise, you would need to pay Chime ATM fees of $2.50 on every transaction for an out-of-network ATM. Moreover, there can be some additional ATM fees as well. So if you have a chime debit card, it is better to go for Chime fee free ATM.
Chime Over the Counter Withdrawal Limit
In case you own a Chime Visa Credit Card then you can also withdraw money from any bank or credit union. The Chime daily limit for Over the Counter withdrawal is $500. You will also need to pay a fee of $2,50 for every withdrawal that you make through a bank or a credit union.
Chime Card Purchase Limit
Do you use Chime cards very often for your purchases? If yes, then you need to know about the Chime spending limit. You can make purchases of up to $2,500 daily. But you need to keep in mind that this is the total limit of your card for one day.
So if you withdraw $300 from an ATM then you would only be able to make purchases of $2,200. Also, this limit includes both online and in-store transactions. You can also pay your debts using the Chime debit cards because there are several payday loans that accept Chime.
Chime Purchase Limit with Signature and PIN
If $500 is not enough for you and you need some extra money urgently then you can use your Chime card along with your signature to withdraw cash up to $2,500. This total limit includes your ATM transactions, purchases, over the counter withdrawal, fees, etc.
Chime Pay Friends Limit
Just like PayPal and Venmo, now you can also use Chime to send and receive money to and from your friends and family. This process is extremely simple, you just need to enter the amount and select the contact number of the person whom you want to send the money to and then enter your PIN and then click on the OK button. Using Chime, you can send and receive up to $2,000 daily.
Chime ACH Deposit Limit
Chime allows you to deposit money into your Chime account using ACH. The daily ACH deposit limit for Chime is $10,000 and the monthly ACG deposit limit is $25,000. In order to send and receive money from Chime, you just need to link Chime to another fintech app and by just entering the amount and PIN, you would be able to make transactions. This way you can send money from Chime to Cash App. Also, Chime works with Zelle as well.
Why Do Cards Have a Withdrawal Limit?
Both credit cards and debit cards come with a withdrawal limit, but have you ever wondered why there is a withdrawal limit in the first place? Well, there 2 major reasons why cards have a withdrawal limit:
For safety purposes, it is very important to keep a limit on the money withdrawal. Otherwise, if someone steals your credit card and somehow gets access to your card password, you can end up losing all your money. So to avoid this, all the cards and banks put a limit on their daily and monthly transactions.
If there would be no limits on daily withdrawal, people would end up withdrawing as much money as they want. Then it would get difficult for people to get money who actually need it. So to ensure that there is enough cash for everybody in need, the banks and card companies go for a daily withdrawal limit.
Where Can I Withdraw Money from My Chime Card?
If you have a Chime Visa Debit Card then you can withdraw money from an ATM as well as a bank or credit union. In order to withdraw money from a Chime debit card from an ATM, you just need to load the Chime card into the ATM machine, enter the amount and password, and just within a few seconds, you will get your money. But you need to keep in mind the chime ATM limit. You can only withdraw money up to $500 using an ATM for Chime.
What ATM is Free for Chime?
Do you know you can withdraw money using your Chime debit card for free? Yes, you heard it right. Throughout the nation, Chime has partnered with more than 38,000+ ATMs so that you can get free Chime ATMs and withdraw money without paying any extra fee. You can withdraw money for free from Visa Plus Alliance and MoneyPass ATMs because they are Chime free ATMs.
But even for these ATMs, the Chime ATM limit would be the same, i.e. $500. It is better to go for ATMs that have partnered with Chime otherwise you would have to pay Chime ATM fees of $2.50 on every cash withdrawal.
How Can I Find ATMs for Money Withdrawal for Free?
Now that you know about the free ATM for Chime, let’s see how you can find these ATMs around you. It is extremely simple. You just need to go to the Chime application and at the bottom, you will find an ATM tab. You just need to click on that icon and you will easily find all the Chime ATM locations around you.
As soon as you click on the ATM icon, the Chime App will get your location through GPS and will give you a list of all the Chime free ATM. Other than this, you can also search for a Chime ATM near me on google and you will get to know about all the Chime ATM locations near you.
Can I Increase My Chime Withdrawal Limit?
The Chime withdrawal limit depends on a lot of things including your chime account balance, credit score, credit history, etc. If you want to increase your Chime daily withdrawal limit, then you can do so. In this section, we are going to tell you about all the important factors and tips that will help you in increasing your Chime withdrawal limit. We will also tell you how you can apply for a withdrawal limit increase.
Factors that Affect Your Withdrawal Limit
Different cards come with different withdrawal limits. It is even possible that people with the same kind of cards have different withdrawal limits. There are 3 major factors that affect the withdrawal limit of your credit or debit card.
1. Your Account Balance
Your account balance is basically the amount of money that you have deposited in your bank account. If your account balance is high, it means more money belongs to you. So the bank will allow you to withdraw more money from your account.
2. The Age of Your Bank Account
If the age of your bank account is more, you will become a trustable customer of the bank. So on the basis of that trust, the bank will allow you to withdraw more money as compared to the other new customers.
3. Your ATM Location
It is possible that your card may allow you to withdraw more money, but the ATM you are using to withdraw money has a lower limit. For example, if you are using a Chime Visa Debit Card, Chime will provide you a withdrawal limit of $500 per day, but if you are withdrawing money from an ATM that comes with a $300 daily withdrawal limit, then you would only be able to withdraw $300 from that particular ATM machine.
How to Apply for a Withdrawal Limit Increase?
Now that you know Chime allows you to increase your withdrawal limit, let’s see how you can actually get a withdrawal limit increase. You can follow the step-by-step process given below to apply for a Chime Withdrawal limit increase.
- First of all, you need to log in to your Chime account and go to the Settings options, you can do it either through their mobile application or by directly going to their official website.
- Now go to Account Limits and after that select Increase Limit.
- After this, you will be redirected to a form where you will have to provide some of your basic information like your income, expenses, why you want a withdrawal limit increase, etc.
- Once you fill out the form, click on the Submit button and then you just need to wait for Chime’s response. If Chime approves your Withdrawal limit increase request, they will let you know about it through call and mail.
Tips for a Good Chime Withdrawal Limit Increase
Do you want to apply for a Chime withdrawal limit increase? Then make sure that you follow the tips given below.
1. Increase Your Credit Score
In order to get a withdrawal limit increase, you will need to make sure that you have a good credit score. Because before approving your request, Chime will take a look at your credit score. To increase your credit score, pay all your bills on time and get rid of the debts as soon as possible.
2. Build Your Account Balance
You will only be able to get a withdrawal limit increase if you have a high account balance. So if you are looking for a withdrawal limit increase, instead of depositing your money in different bank accounts, try to keep more money in your Chime bank account.
3. Talk to the Chime Support Team
If you applied for a withdrawal limit increase and they did not approve your request then you can try to talk to the support team of Chime. If you are able to convince them that you need a withdrawal limit increase and you would be able to manage it then they might provide you with a withdrawal limit increase.
Why is it Important to Know Your Chime Withdrawal Limit?
It is very important to know your Chime withdrawal limit because it allows you to keep a track of your spending. Also, if you need a big amount of money, it saves your time because then you would not rush to an ATM and will directly go to a Bank in order to withdraw money.
Moreover, these limits also prevent overspending, because if there would be no limit on daily spending, you might end up using all your money in one day. These limits also save you from big money loss, because with the withdrawal limit, even if someone tries to steal your card, they would only be able to take $500 and you will have time until the next day to block your card.
Here is a list of all the withdrawal limits of Chime:
|Over the Counter Withdrawal||$500/Day|
|Direct Deposit Limit||No Exact Limit|
|Cash Back at Point of Sale Limit||$500/Day|
|PIN or Signature Operated Withdrawals||$2,500/Day|
|Chime Transfer Limit||$200/Day and $1,000/Month|
|Card Purchase Limit||$2,500/Day|
|Chime Mobile Check Deposit Limit||$10,000/Month and $2,000/Check|
|Chime Pay Friends Limit||$2,000/Day|
|Chime Credit Builder Card Limit||No Exact Limit|
FAQs: Frequently Asked Questions
Q1. How do I withdraw large amounts from Chime?
The Chime ATM near me will only allow you to withdraw $500. So if you need a bigger amount of money then either you can directly use your credit card to make direct purchases or in need of cash, you can withdraw money up to $2,500 using your signature and PIN.
Q2. Can I withdraw $1000 from Chime?
You cannot withdraw $1,000 from Chime ATM locations. But you can still go to the bank or credit union and withdraw money up to $2,500. But you need to keep in mind that if you go for this option, you will have to pay a fee of $0.50 per withdrawal to Chime and the bank or credit union might also have some additional fees.
Q3. Is Chime safe for large amounts of money?
Yes. Chime is totally safe for large amounts of money. Even though it is a completely online bank service and has no offline offices, it is completely safe because they use high security to protect your money as well as data. As per the Chime Revenue and Usage Statistics, in 2021, Chime was valued at $25 billion, so their popularity clearly shows that they are very safe and a large number of the public trusts them.
- David Garcia is a nationally-recognized consumer and money-saving expert who helps people make smart decisions with their money. He has been featured on NBC’s Today Show, Good Morning America, ABC News, and CNBC as well as in The New York Times & other media outlets. With more than 13 years of experience in the personal finance space, David is an experienced writer and researcher. He has written for major publications where he provides readers with actionable advice to save money on groceries, insurance, and more. With his work for various publications, David is an active contributor to the Credit Card Insider blog where he shares insights into credit cards such as rewards programs and interest rates.