How Does Chime Display Upcoming Deposits?
Chime® is a fintech company that provides affordable and convenient banking services through an online platform. They offer fee-free checking and savings accounts, as well as a credit card. Their app is highly rated, with a 4.8 rating in the App Store and a 4.6 rating on Google Play.
If you’ve recently started using the Chime app, you might be curious about its features, such as whether it shows pending deposits. The answer is yes, Chime does show pending deposits in the app. Here’s how you can view them:
1. Open the Chime app.
2. Find and tap on the “View Transactions” option. Pending transactions will be listed at the top of the screen.
3. Transactions in gray are pending deposits, which will turn green once they clear and the funds are available.
Pending deposits in your Chime account come from checks you deposit. Direct deposits and cash deposits do not appear as pending because they clear immediately upon receipt. This is why you can access your money up to two days early with direct deposits through Chime. Cash deposits made at local retailers usually post within two hours. External transfers will only show up once they clear and the issuing bank releases the funds.
The timing of deposits in your Chime account varies by transaction type. Direct deposits are credited as soon as Chime receives them, typically between 12 a.m. and 6 a.m. on the deposit day, and you should have access to the funds by 9 a.m. on payday. Transactions between Chime members appear instantly. Cash deposits at participating retailers like Walgreens or Circle K post within two hours. External account transfers can take up to five business days to clear, with transfers initiated from the external account usually appearing within three business days. Transfers initiated in the Chime app and mobile check deposits may take longer.
Pending transactions are credits and debits that the bank is still processing. For example, a restaurant charge might take a day or two to finalize, including the tip. Similarly, a check deposit might be held until the bank verifies it. Pending deposits are funds that the bank has not fully released to your account yet. Chime adjusts your available balance to reflect pending transactions, helping you manage your finances and avoid overdrafts or declined transactions.
Most deposits clear within one business day, but banks may hold funds for up to five business days if there are concerns about the deposit, such as frequent overdrafts, a new account, or a large check over $5,000. This allows the bank to verify the transaction and ensure the funds are released by the issuing bank.
Chime is a great choice for those seeking a fee-free checking and savings account with a user-friendly app and features like early direct deposit. However, Chime is not a bank and may not be suitable for everyone, especially if you need full banking services like certificates of deposit and loans. For those needs, consider traditional banks or full-service online banks.