![]() ![]() ![]() It’s easy to see why Chime has caught on. And despite our best efforts, we do make mistakes.” The statement also touted Chime as having “proven that basic banking services can be helpful, easy and free.” While it’s important for us to fight fraud, our top focus will always be to take care of our members. We are proud of Chime’s robust anti-fraud efforts, which have returned hundreds of millions of dollars to state and federal agencies during the pandemic. By some credible estimates, $400 billion worth of unemployment fraud alone may have transpired. “The past year has seen an extraordinary surge in activity by those seeking to illicitly obtain pandemic-related government funds and defraud US taxpayers. “As a leader in the US payments ecosystem and as part of our commitment to Chime members, we take seriously our responsibility to detect and prevent fraud,” asserted a statement provided by spokesperson Gabe Madway. As for the BBB complaints, Chime has said on the BBB’s website that it “takes these issues seriously” and that its “top priority is protecting its members.”Ĭhime portrayed the customer complaints as largely driven by the company’s attempts to crack down on accounts that use fraudulently obtained unemployment insurance or federal stimulus payments. Most of the company’s CFPB complaints have been “closed with explanation,” a designation that conveys that Chime has resolved the dispute privately with the customer the company is in the process of responding to the rest. Another says, “I’m a single mom of 4 kids and they stolen $1400 from me and refuse to give it back and now we are about to be evicted.” Chime doesn’t look much better on Google, where, according to the site’s “People Also Ask” feature, two of the questions most often posed about Chime are “Is Chime bank a real bank?” and, at various points in recent weeks, “Is Chime a ripoff?” or “Does Chime steal your money?” ![]() “Chime stole my entire unemployment backpay,” reads one typical post. One group has more than 100 posts and comments, almost all of them saying some version of the same thing. Meanwhile, several Facebook groups have sprung up with names like “Chime Bank has FAILED” and “Chime Thieves.” They’ve attracted some 700 members combined. Marcus, the new online bank created by Goldman Sachs, with 4 million customers, has generated seven such complaints.Ĭustomers have also filed 4,439 complaints against Chime at the Better Business Bureau, compared to 3,281 for Wells Fargo.Ī message from Chime to Jonathan Marrero after his account was closed suddenly. By comparison, Wells Fargo, a bank with six times as many customers and a lengthy recent history of misbehavior in its consumer bank, has 317 CFPB complaints tagged for closed accounts over the same time period. Of the 920 complaints filed about Chime, 197 were tagged as involving a “closed account.” The CFPB’s complaints are labeled inconsistently, and many of the other 723 also detail problems involving accounts that were closed against customers’ will. Many customers have told the CFPB that they can’t access their money or accounts, and that, among other things, Chime is slow to resolve problems. “For a company that most people have never heard of, I think that’s a lot of complaints,” said Lauren Saunders of the National Consumer Law Center. Chime, which provides app-based banking services to an estimated 12 million customers, has according to experts been generating a high rate of complaints, with 920 filed at the Consumer Financial Protection Bureau since April 15, 2020. ![]()
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