15 Best Chime Alternatives: Online Banking Competitors & Similar Apps

Chime is a popular online banking app with a free checking account and company-branded debit card, based in San Francisco. Chime is a neobank that aims to disrupt traditional finance by offering various benefits. Despite not being an actual bank, it partners with licensed banks to provide basic protections for users. With a current valuation of $25 billion, Chime has attracted over 13 million users. However, it faces competition from various banks and banking apps. Here are the top 15 Chime competitors:

Top Alternatives Online Banks like Chime

Below is a table of 15 apps like Chime, including information about their headquarters, founders, and year founded:

RankApp NameHeadquartersFounder(s)Year Founded
1JPMorgan ChaseNew York City, New YorkChase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns, Washington Mutual2000
2CurrentNew York City, New YorkStuart Sopp2015
3VenmoNew York City, New YorkAndrew Kortina, Iqram Magdon-Ismail2009
4Bank of AmericaCharlotte, North CarolinaBankAmerica, NationsBank1998
5Cash AppSan Francisco, CaliforniaBlock (formerly Square)2013
6DaveLos Angeles, CaliforniaJason Wilk, John Wolanin, Paras Chitakar2016
7Wells FargoSan Francisco, CaliforniaHenry Wells, William Fargo1852
8VaroSan Francisco, CaliforniaAssaf Guery, Colin Walsh, Mykola Klymenko, Roger Van Duinen2015
9AspirationMarina Del Rey, CaliforniaAndrei Cherny, Joseph N. Sanberg2013
10N26Berlin, GermanyValentin Stalf, Maximilian Tayenthal2013
11MonzoLondon, United KingdomTom Blomfield, Jonas Huckestein, Jason Bates, Paul Rippon, Gary Dolman2015
12SimplePortland, OregonJoshua Reich, Shamir Karkal, Alex Payne2009
13RevolutLondon, United KingdomNikolay Storonsky, Vlad Yatsenko2015
14Ally BankDetroit, MichiganAlly Financial Inc.2009
15SoFi MoneySan Francisco, CaliforniaSocial Finance Inc. (SoFi)2011

1. JPMorgan Chase

JPMorgan Chase, with over 200 years of history, is the largest US bank, managing nearly $3 trillion in assets. Consumers mainly interact with Chase Bank, which operates 5,300 branches and 15,500 ATMs nationwide. Chase covers its operational costs through fees, while Chime attracts customers with a lower fee structure. As a licensed bank, Chase offers a wide range of products. In 2021, it generated $127.20 billion in annual revenue and $48.33 billion in profits, serving over 66 million US households.

2. Current

Current, the second-largest US neobank with three million users, offers similar features to Chime such as overdraft protection, a branded debit card, and faster payments. CEO and co-founder Sopp, with 20 years of finance experience, has created a distinct product by offering up to 4% APY for savings accounts, compared to Chime’s 0.5%. Additional features include automated savings and cashback rewards at participating merchants. Valued at $2.2 billion in April 2021, Current has raised $402.4 million in venture funding. Like Chime, Current doesn’t hold a banking license but partners with Choice Financial Group, an FDIC member.

3. Venmo

Venmo is a P2P payments app that allows free money transfers between users and is popular for its communication tools. However, its social features have raised privacy concerns, leading to a settlement with the FTC in 2018 and the publicization of a user’s account history in 2021. Venmo has expanded to offer various banking services, including payments to merchants, debit/credit cards, rewards, and cryptocurrency trading. Venmo has been owned by PayPal since 2013, following its acquisition from Braintree for $26.2 million.

4. Bank of America

Bank of America is the second-largest bank, managing $2.16 trillion in assets. Its digital banking services include a virtual financial assistant named Erica, and it has over 67 million users. The bank’s 4,100 branches and 16,000 ATMs provide in-person assistance. In 2021, Bank of America generated $89.11 billion in revenue and $30.56 billion in net income, with its consumer banking division contributing 35% of its revenue.

5. Cash App

Cash App, managed by Block (formerly Square), is a P2P payment app competing with Venmo and PayPal. Initially allowing free money transfers, it evolved into a digital wallet with various features like quicker payments, cryptocurrency transactions, commission-free stock investments, tax filing, and debit card applications. Cash App plans to introduce more bank-like features to attract customers from traditional banks and Chime. In 2021, it generated $12.32 billion in revenue and $2.07 billion in gross profit for Block, with 44 million active users and 13 million debit card subscribers.

6. Dave

Dave was created by its founder’s frustration with overdraft fees, which they had paid their whole life. The company has been supported by billionaire Mark Cuban, who invested in the founder’s previous startup. Dave’s ExtraCash product is its primary offering, which provides customers with up to $500 to pay off loans and avoid overdraft fees. Additionally, Dave allows users to earn cashback, receive early payment, and find side hustles. The neobank became the first to go public and raised $375 million during its IPO on the Nasdaq in January 2021, with investors valuing the company at $4 billion.

7. Wells Fargo

Wells Fargo, one of the top online banks like Chime, ranks third in assets under management with approximately $1.92 trillion and operates 7,200 branches and 13,000 ATMs nationwide. Serving over 70 million customers, it caters to one in three US households. In 2022, Wells Fargo significantly upgraded its banking app, introducing features such as mobile check deposits, Zelle payments, FICO score access, bill payments, and more. In 2021, Wells Fargo’s various divisions generated $78.49 billion in revenue, with the Consumer Banking and Lending division contributing $34.88 billion.

8. Varo

Varo is a mobile-first, online-only bank that provides a user-friendly app for managing checking and savings accounts. The app includes features like automatic savings tools, early direct deposit, and no-fee overdraft protection. Varo also offers fee-free access to a network of ATMs and has no minimum balance requirements for its accounts.

9. Aspiration

Aspiration is an eco-friendly online bank that provides a mobile app for managing finances. The app offers features like automatic savings, fee-free access to a network of ATMs, and cashback rewards on socially responsible purchases. Aspiration also plants trees for every purchase made with its debit card and donates a percentage of its profits to environmental causes.

10. N26

N26 is a European-based digital bank that offers a sleek mobile app for managing finances. The app provides real-time transaction notifications, automatic categorization of spending, and customizable savings goals. N26 also offers a range of premium accounts with additional features like travel insurance and exclusive partner discounts.

11. Monzo

Monzo is a UK-based digital bank that provides a user-friendly mobile app for managing finances. The app offers features like instant transaction notifications, spending categorization, and savings pots for setting aside money. Monzo also provides fee-free spending abroad and access to a network of fee-free ATMs.

12. Simple

Simple was an online banking platform that provided a user-friendly mobile app and web interface for managing finances. It offered features like automatic savings, budgeting tools, and real-time transaction notifications. Although Simple closed in 2021, its innovative approach to digital banking inspired many other banking apps.

13. Revolut

Revolut is a digital banking platform that offers a range of financial services, including currency exchange, international money transfers, and cryptocurrency trading. The mobile app provides tools for budgeting, spending analytics, and automatic savings. Revolut also offers premium accounts with additional features like travel insurance and cashback rewards.

14. Ally Bank

Ally Bank is a well-known online-only bank that offers a wide range of banking services. With no physical branches, Ally Bank focuses on providing excellent digital experiences through its mobile app and online platform. The app allows users to manage their accounts, transfer funds, deposit checks, and monitor their spending. Ally Bank offers competitive interest rates on its savings accounts and CDs, as well as low fees on its checking accounts.

15. SoFi Money

SoFi Money is a cash management account offered by SoFi, a personal finance company. The app provides users with access to fee-free checking and savings accounts, a network of fee-free ATMs, and competitive interest rates. SoFi Money also offers additional financial products, such as personal loans


In conclusion, the world of online banking like Chime has experienced significant growth in recent years, with numerous Chime alternatives emerging to cater to the diverse needs of customers. These digital banks and apps offer a range of features, from peer-to-peer payments to savings accounts with high interest rates. As technology continues to advance and consumer preferences shift, we can expect to see even more innovative solutions and Chime alternatives in the online banking landscape. This trend will likely lead to increased competition, ultimately benefiting customers with improved services and user experiences.

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