Why College Graduates Need a Chime Account

black woman chime bank, chime bank, mobile banking
This post may contain affiliate links. Please read full disclosure here.

Hi All,

Grad season is starting to wind down and reality is starting to set in. You are no longer giving your blood, sweat, and tears to an institution that never loved you. If you’re lucky you’re off backpacking and enjoying the down time before you start your new job. Perhaps you’re like me, submitting 10 applications a day and emailing several recruiters on LinkedIn. However, you are spending your newfound postgrad freedom, there is something you should be doing. Getting your finances in order. Now is the time to think about your savings account, fees from your bank, and the optimal banking experience to fit your needs. That’s where Chime comes in.


Banking with Chime is Free 99

If you’re like me, you likely signed up for a student account when you got to college. My university offered a Wells Fargo account linked to our OneCard. It was awesome during college. I could leave the house with one card and it would act as an ID and debit card. Unfortunately, college is over and I’ll soon be receiving a $10 monthly maintenance fee for not having a minimum balance of $1,500 or direct deposit linked to this account.

black woman chime bank, chime bank, mobile banking

Luckily for me, moving my funds to Chime meant I wouldn’t have to worry about those pesky fees while I’m in between jobs. What sense does it make to pay to have my money sitting around when there’s a free option right at my fingertips. Most of us will be paying Uncle Sam and Aunt Sallie thousands of dollars back. It may not seem like a deal now, but you’ll be glad you kept that $10 in your virtual wallet when you click that payment each month. On top of that, Chime accounts don’t have overdraft fees, foreign transaction fees, or ATM fees across 24,000 MoneyPass ATMs in the US. 

Mobile Future is Now

In 2015 when I was looking to switch banks, banking with Chime was on the top of my list. No fees, user-friendly interface, and Apple pay compatible. The only thing stopping me was the lack of mobile deposit. Occasionally I would receive checks from older family members, and it is such a hassle going to an ATM or uploading something to a computer. As of this year, Chime is now offering mobile deposit, and I’ve switched over to the green side. Having an app that will let you deposit checks, transfer funds, pay bills and manage your account inconvenient for someone who may be travelling from city to city. In addition to the app, Chime comes with a Spending Account (DDA), a Chime Visa debit card and a Savings Account.

You May Also Like:  Memorial Day In Atlanta

Paid to Save

Nothing screams financial wellness like a healthy savings account. One never knows what life may throw at you, so it is nice to have a cash cushion to help prevent your credit cards from being your crutch. Unfortunately, as of 2016, nearly 69% of Americans had less than $1,000 in their savings account according to a GoBankingRates survey. Thankfully Chime has created a way for members to effortless save as they earn. 

Simple actions with @Chime lead to better long-term savings habits Click To Tweet

 Chime members can automatically transfer 10% of every paycheck over $500 directly into their savings account.  When that direct deposit hits that account, your funds will go to your savings. You’ll be paying yourself in your sleep. If you also sign up for the Save When You Spend feature, every Friday Chime will pay members a 10% bonus on their round ups for the week to reward them for saving. Like I said, you’re getting paid to save. I cannot think of any other giving a 10% bonus on anything. These simple actions lead to better long-term savings habits.

We’re all just trying to live our best lives to match the shiny degrees hanging on our walls, so why not pursue financial wellness and make our pockets a little fatter!


For a limited time, Chime is giving Petitely Packaged readers a $5 bonus when opening an account. Don’t miss out and join today!