Navigating Chime’s Routing Number for Seamless Direct Deposits
Many Americans are turning to digital financial institutions like Chime® for their primary checking accounts. However, it’s important to note that Chime is not a bank; it’s a financial technology company. This distinction can sometimes cause confusion when users try to perform basic financial tasks, such as setting up payments or documenting assets for third parties.
For those using direct deposit to receive their paychecks, it’s crucial to provide the correct details to employers. If you’re a Chime user, here’s a guide to help you determine which bank name and routing number to use and how to set up direct deposit.
### Chime Routing Number
Chime doesn’t have its own routing number. Instead, customers should use the routing number of the bank that partners with Chime to provide banking services. This could be either The Bancorp Bank, N.A. or Stride Bank, N.A. The routing number for The Bancorp Bank is 031101279, and for Stride Bank, it is 103100195. You can find out which bank services your Chime account by logging in and checking the direct deposit tab or by looking at the back of your Chime Visa debit card.
### The Bancorp Bank
The Bancorp Bank has been in the financial industry for over 20 years and is a leader in the prepaid card sector, having issued over 175 million active cards. Like Chime, The Bancorp focuses on providing accessible financial products and fostering an inclusive environment. The address for The Bancorp Bank is 345 N. Reid St., Sioux Falls, SD 57103.
### Stride Bank
Founded in 1913, Stride Bank offers a range of consumer and commercial financial products, including banking, wealth management, and mortgages. The address for Stride Bank is 324 W. Broadway Ave., Enid, OK 73701.
### Setting Up Chime Direct Deposit
Setting up direct deposit with Chime is straightforward, though the process may vary slightly depending on your employer’s requirements. Generally, you’ll need your bank information, account number, and routing number. There are three ways to set up Chime direct deposit:
1. **Find Your Routing Number Manually**: On the Chime website, click “Move Money” to view your account and routing numbers. On the app, tap “Move Money” and then “Move your direct deposit.” Share these numbers with your employer on their payroll forms.
2. **Download a Completed Form**: Chime can provide completed direct deposit forms. Click “Print” or “Download” on the website or “Get completed form” on the app. Print the form and give it to your employer.
3. **Find Your Employer Through Chime**: The app offers a simple way to set up your direct deposit online. If your employer participates, you can search for them by clicking “Find employer” and following the on-screen steps.
### Key Features of Chime
Chime is a financial technology company that partners with banks to offer affordable banking and financial services. Its accounts typically don’t have annual or monthly fees, overdraft fees, or minimum balance requirements. Chime focuses on creating accessible products and offers several benefits:
– Fee-free accounts
– Fee-free overdrafts up to $200 for eligible members
– Early access to paychecks (up to two days early) with direct deposit
– Secured credit cards
– Access to over 60,000 fee-free ATMs
Instead of profiting from fees charged to users, Chime relies on transactions and the revenue generated when members use their Chime cards for purchases.
### Should You Use Chime for Direct Deposit?
Chime has an A rating from the Better Business Bureau and a 4.16-star rating from thousands of customer reviews. While some users report issues with customer service and adding money to their accounts, many appreciate the benefits Chime offers, such as no monthly fees, fee-free overdrafts, early access to paychecks, and other desirable features.