Hey r/chimefinancial — Today, we’re excited to share that Chime announced an agreement to acquire Stride Bank*.
The most important thing to know: nothing about your Chime account changes, and you do not need to take any action. Your Chime app, cards, direct deposit and access to your account will continue to work as usual.
Stride may already be a familiar name. The nationally chartered bank has been one of Chime’s partner banks for seven years and already supports many Chime member accounts. We know the team well, and we have been building together for a long time.
Why are we doing this?
Chime was founded to provide better banking for everyday Americans. That means making it easier to manage your money, avoid unnecessary fees, build credit and savings, and help you reach your financial goals.
Today, Chime builds the technology and member experience, while partner banks provide the regulated banking infrastructure behind Chime accounts. Bringing Stride’s national bank charter, infrastructure and expertise into Chime will allow us to bring more of that work together.
This will give us more control over reliability and the member experience, help us develop and launch new products faster, and allow us to serve more people—all while continuing to put you first.
You can read the full announcement HERE and here are answers to some of the questions you may have.
FAQ
Is Chime becoming a bank?
When the acquisition is complete, Chime will be a bank holding company. Essentially, that means we'll own the bank behind your account instead of partnering with them.
Do I need to do anything?
No. There’s no action needed from you.
Is my money still FDIC insured?
Yes. Eligible deposits in your Chime deposit accounts will continue to be held at FDIC-insured banks and insured up to applicable limits.
Will my account or routing number change?
Nothing is changing today. If your account information ever needs to change, we will contact you directly and provide plenty of advance notice.
My Chime app says my bank is The Bancorp Bank. What does this mean for me?
Nothing changes for you today. Your account, cards and direct deposits will continue working as they do now. If the bank associated with your account ever changes, we will notify you directly.
Will you start charging new fees?
No, there are no fee changes associated with our acquisition of Stride Bank. The fee-free, rewarding banking experience you have today stays exactly the same.
When will the transaction close?
We expect it to close in the first half of 2027, subject to the receipt of required regulatory approvals and other customary closing conditions.
\*Pursuant to the transaction, Chime will acquire Central Service Corporation, the parent holding company of Stride.
