Update 4/9/24: Looks like another round of shut downs have been sent out. Hat tip to reader Phil
In the last week we’ve received a few reports from readers about their Chime accounts being shut down. Some readers are receiving an e-mail titled ‘Account Closure Notification’ whereas other account holders try to log in only to be told the account has been suspended. The Chime e-mail states the following:
Following a recent review of your Spending Account, we regret to inform you that we have made the decision to end our relationship with you at this time. Your Spending Account will be closed on August 06, 2020.
If you have a Chime Savings Account, per the terms of your Deposit Account Agreement, your Savings Account will also be closed.
If you have direct deposits, ACH Debits, or recurring debit card payments, please notify the originators immediately to avoid disruption with your future deposits or payments. Direct deposits, ACH debits, and recurring debit card payments may be rejected after August 06, 2020, however we still encourage you to redirect your ongoing direct deposits and bank transfers to avoid any delay in receiving your funds.
Kind regards,
The Chime Team
This is leading to some account holders being unable to access funds. Chime has not given any explanation regarding these account closures at all and even when sending out e-mails has given very little if any time to withdraw funds and stop recurring payments. A lot of readers have accounts from the $50 referral bonus.
Hat tip to readers Dan & Kyle, you can also find a lot more people reporting the same issues on reddit
William Charles
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