Why Chime Bank is a SCAM

An episode of the The Carter Farr Show podcast, hosted by Carter Farr, titled "Why Chime Bank is a SCAM" was published on February 4, 2020 and runs 10 minutes.

February 4, 2020 ·10m · The Carter Farr Show

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Summary

In todays video we going to see if Chime Bank is a scam!  Lets talk about and review Chime Mobile Bank App and go over all the features and whether or not it’s actually a good bank!  The current interest rate and Annual Percentage Yield (APY) for the Chime Savings Account is . 01%. Which Means if you leave $25,000 in your account for 10 years you would make $25 OVER TEN YEARS! That is way too low! A good bank will have over a 2% apy. THATS WHY I THINK CHIME IS A SCAM!  They are loaning the money for around 8-10% and they cant give the clients more!   What Is Chime? Many of us are getting fed up with traditional banks. Banking is something that we need to have access to, but the associated fees and other nuisances that go along with it are less than desirable. Chime Bank is an online or “mobile-only” bank that offers you an alternative to traditional banking methods. If you are sick of having to pay high fees or if you don’t want to deal with overdrafts, then you might be interested in this banking method.  It makes things convenient and offers you a streamlined service that’s easy to understand.   PROS Avoid fees FDIC-insured No foreign transaction fees Lots of ATMs Simple direct deposit  CONS Depositing cash Customer service The interest rate isn’t great for savings No physical branches  Best high-yield savings accounts First Foundation Bank – 2.40% APY. BrioDirect – 2.30% APY. SFGI Direct – 2.27% APY.  We’ll both get $50 when you open a Chime bank account and set up direct deposit! https://chime.com/r/carterfarrGet Your FREE STOCK!!!  MOOMOO: http://bit.ly/moomoostock

Episode Description

In todays video we going to see if Chime Bank is a scam! Lets talk about and review Chime Mobile Bank App and go over all the features and whether or not it’s actually a good bank! The current interest rate and Annual Percentage Yield (APY) for the Chime Savings Account is . 01%. Which Means if you leave $25,000 in your account for 10 years you would make $25 OVER TEN YEARS! That is way too low! A good bank will have over a 2% apy. THATS WHY I THINK CHIME IS A SCAM! They are loaning the money for around 8-10% and they cant give the clients more! What Is Chime? Many of us are getting fed up with traditional banks. Banking is something that we need to have access to, but the associated fees and other nuisances that go along with it are less than desirable. Chime Bank is an online or “mobile-only” bank that offers you an alternative to traditional banking methods. If you are sick of having to pay high fees or if you don’t want to deal with overdrafts, then you might be interested in this banking method. It makes things convenient and offers you a streamlined service that’s easy to understand. PROS Avoid fees FDIC-insured No foreign transaction fees Lots of ATMs Simple direct deposit CONS Depositing cash Customer service The interest rate isn’t great for savings No physical branches Best high-yield savings accounts First Foundation Bank – 2.40% APY. BrioDirect – 2.30% APY. SFGI Direct – 2.27% APY. We’ll both get $50 when you open a Chime bank account and set up direct deposit! https://chime.com/r/carterfarrGet Your FREE STOCK!!! MOOMOO: http://bit.ly/moomoostock