Chime SpotMe Program: How it Works | Pros & Cons

There’s no naysay when it comes to the cons of overdraft charges. Everyone has been affected. The charges that accrue end up even with the draft itself, sometimes even more.

In 2018 alone, Americans paid $34 billion in overdraft fees. Now, that’s an outrageous sum, if I am to say.

This refurbished robbery by traditional banks led to the SpotMe program by Chime. It eliminates these overdraft charges while giving you an untroubled shoulder to lean on when you need extra cash.

Unlike the traditional banks that want to make all the profit in the world, Chime is more concerned about your well-being.

Don’t be perturbed; there are no hidden charges or ulterior motives to this benevolence. These are just some T&Cs which are worthwhile.

The information you’ll need to know about the SpotMe program by Chime has been thoroughly discussed. Make sure to read to the end ‘cos a $350 service charge saved is worth the minutes used in reading.

So, next time you’re in a bind and need a little extra cushion to cover a debit card purchase, don’t worry–we can spot you!

Itemized is what we will discuss. Stay with us!

About Chime

Before we dive into the SpotMe program, we’ll give a little information on Chime.

Chime is an online-only company that partners with banks to offer its checking and savings accounts. Their debit card service which SpotMe is under is from The Bancorp Bank, you can use it everywhere, visa debit cards are accepted.

Bancorp provides private banking and technology solution that meets the need of non-bank companies.

According to the Nilson Report April, they are the #1 U.S. issuer of prepaid cards and the 8th largest issuer of debit cards.

The chances that you’ve not heard of The Bancorp bank are quite high, and this is on purpose. That’s because the bank places the companies it works with and their goals first.

Thanks to them, there is Chime and its SpotMe program that has been saving lives forever. They are the next best thing after a slice of bread.

What is SpotMe?

The SpotMe program by Chime is a service that gives you overdrafts free of any charge.

Simply put, they give you cash advances when your balance is zero.

Eligible members of Chime can make purchases with their debit cards with no overdraft fee attached.

The overdraft amount will be deducted from your next deposit.

Generally, SpotMe lets you make purchases with your debit card that overdraws or exceeds your account without an overdraft fee of $20, even up to $100.

Some other apps that can give you a cash advance/overdraft.

Who are those Eligible for the Chime SpotMe Program?

To qualify to overdraw from your Chime account with no service fee, you must receive a $500 direct deposit 31 days before the drawing. Then, you can overdraw up to $20 on debit card purchases.

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What is the maximum amount I can overdraw using the Chime SpotMe program?

As we mentioned earlier, a direct deposit of $500 gives you access to a chargeless overdraft of $20 on debit card purchases.

Likewise, at the discretion of Chime, you can also receive an overdraft of up to $100 or more from the Chime SpotMe program.

However, your Chime Account history, direct deposit history and amount, spending activities, and other risk-related factors will be thoroughly scrutinized.

In cases like this, people employ the services of credit repair companies. But, since the risk items are from your Chime account, credit repair companies may have little influence.

Noteworthy is that your overdraft limit will be displayed in the Chime mobile app. It may be increased or lowered by Chime at any time. Perhaps, charges are accruing to your limit; you’ll be duly notified.

Similarly, note that Chime members cannot manually increase their SPotMe limit.

How Does the SpotMe Program of Chime Work?

Chime members that have a direct deposit of up to $500 can enroll in the SpotMe program. In case you forget there’s a program like this, don’t worry Chime will notify you.

$500 gives you access to a free overdraft of $20. But, when other factors like account activity and history have been reviewed, you can get up to $100 of overdraft.

So, when you make a debit purchase that exceeds your balance, Chime will spot you up to your limit. Remember that this only happens when you enroll in the Chime SpotMe program.

As a result, when you make the next deposit, Chime will apply the negative balance to the deposit. They also give you a voluntary option of ‘pay it forward.’

This will allow them to help more customers under the SpotMe program. Also, it will not affect your SPotMe eligibility if you don’t oblige.

For your grocery purchases, you can scan your receipts for money.

Unlike traditional banks and credit services that require linking your savings account before an overdraft can be approved, Chime requires no such thing.

Just maintain a direct deposit of $500 a month, and you’re eligible for an overdraft.

Behind the scene, a bank issues the debit card you’re using for purchases Bancorp so you cannot escape.

What kind of purchases can I make using SpotMe?

The SpotMe program by Chime only covers debit card purchases.

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You cannot overdraw for ATM withdrawals, Pay Friends transfers, ACH transfers (including direct debits and services like Venmo or Square Cash), or Chime Checkbook transactions.

It is strictly for purchases using your Chime debit card.

You might be wondering how to get started. We’ve got you covered. It is right below.

How do I enroll in the SpotMe Program?

Open the Settings tab in your Chime app to determine if you’re eligible for the SpotMe feature. Use the latest version of the app.

Once you agree to the SpotMe Terms and Conditions, you are officially enrolled.

Then, you can make debit card purchases that overdraft your account up to your limit, with no overdraft fees involved.

Pros and Cons of Chime SPotMe Program

The benefits of SpotMe outweigh the cons. We will list them below.

  • No overdraft fee. You’ll be saved a $35 overdraft fee.
  • No account link-up is required
  • Up to $20 to $100 monthly overdraft amount
  • Repayment is on the next deposit

Now to the cons of Chime SpotMe program. They are:

  • The overdraft only applies to debit card purchases. That is way too streamlined for robust users.
  • You use only direct deposit, and cash deposit can be difficult.
  • An online-only account with no access to physical branches. Tech-averse individuals might find this feature inept.

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Difference Between Chime SpotMe Program and Other Overdraft Programs

Comparison ElementsChime SpotMe OverdraftOverdraft Protection
FeesNoneUp to $35.
Overdraft amount$20 to $100 monthly Up to $10,000
Number of overdrafts allowedUnlimited as long as you remain within the monthly limitUp to 7 overdraft
Link Second accountNot requiredYes (unless you opt for an overdraft line of credit)
Type of overdrafts allowedDebit card onlyAny checking account transaction
RepaymentOn the next deposit ASAP or an additional amount of up to $35 may apply every five business days if the account remains overdrawn.


Chime SpotMe program enables you to get an overdraft free of charge. Although their services are streamlined to your debit card purchases only, it is better than nothing. Calculate the overdraft charge for a year and see the outrageous sum the SpotMe program has saved you.

Give it a shot today!

In addition, it is imperative to use credit cards wisely.

The Wealth Circle cares!


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