Fintech platform Chime recently released a new premium membership tier called Chime Prime. The San Francisco-based company partners with banks nationwide to provide banking products and services to millions of users with no monthly fees or subscription costs.
Chime Prime is meant for users who use Chime as their primary checking account. The tier, which automatically unlocks for members with at least $3,000 in monthly direct deposits, provides benefits including cash back when using a Chime credit card; a yearly earned interest rate of 3.75 percent on savings; travel and lifestyle perks like luxury hotel benefits; and access to exclusive VIP giveaways and events.
Alongside the launch of Prime, Chime enhanced its Chime Plus rewards tier, granting members with at least $200 in direct deposits with increased cash back on a spending category of their choice with their Chime card.
“Chime has become America’s top choice for new checking accounts because we built a better, fee-free alternative to traditional banking,” Vineet Mehra, Chime’s chief growth officer, said in a company blog. “Chime Prime builds on that foundation. When members make Chime their primary account, they should receive more — more rewards, more savings and more benefits — without large balance requirements or subscription fees.”
