• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Financial Panther

A Lawyer Side Hustling Towards Financial Independence

  • Home
  • About
  • Blog
  • Side Hustle Reports
  • Best Credit Card Offers
  • Gig Economy / Side Hustles
  • Student Loan Strategy
  • Resources
  • Archives
  • Press
  • email-iconfacebook-icontwitter-iconpinterest-icon
email-iconfacebook-icontwitter-iconpinterest-icon
IMG_3252
Hi, I'm Kevin and I'm an attorney, sharing economy expert, and the blogger behind Financial Panther. I paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer. I started this blog to share all I know about personal finance, travel hacking, and making more money by side hustling. Click here to learn more about me.
As Seen On
Popular

The Dream of Barista FIRE

7 Best Cashback Apps That Everyone Should Use

The Ultimate Guide to Bank Account Bonuses

See All
Side Hustle

The Ultimate List Of Gig Economy Apps

Latest Side Hustle Report

Monetize Your Life And Get Paid To Live

See All
Debt

Student Loan Refinancing Strategy

Paying Off $87,000 Of Student Loans In 2.5 Years

Secret To Paying Off Debt, Be A Weirdo

See All
Saving/Investing

How To Get a 5% Interest Savings Account

Simple Way To Start Investing

The Financial Panther Money System

See All
Get Exclusive Content Delivered
Right to your Inbox.
Latest Posts

Chime Bank $75 Referral Bonus – Step By Step Guide

Last Updated on January 7, 2021January 7, 2021 7 Comments
This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Chime is a free online bank that offers a $75 referral bonus if you open a new Chime account using a referral link. To earn the $75 referral bonus, you need to do the following: 

  1. Open a new Chime bank account using a referral link (here’s my Chime referral link). 
  2. Make a direct deposit of $200 or more within 45 days of opening your account. 
  3. The $75 bonus posts to your Chime account within 2 business days of meeting the requirements, but typically posts instantly once the requirements are met.

When it comes to bank account bonuses, Chime is one of the easier banks out there to earn the bonus with and is one of the first banks I recommend for anyone new to earning bank account bonuses. Here’s why:

  • No Fees. Chime has no minimum balance requirement and no monthly fees or maintenance fees of any kind. Since it has no fees, this makes it a very easy bank account to manage. 
  • Bonus Terms Are Easy To Meet. The terms you have to meet to earn the Chime referral bonus is easy to meet, making this one of the easier bank account bonuses out there. The account requires a $200 direct deposit to earn the bonus, which at first glance might seem difficult, but in fact, almost any ACH transfer from an external bank account into your Chime account will trigger the direct deposit requirement.
  • Bonus Posts Instantly (Or At Most, Within 2 Business Days). Some banks have a long waiting period before your bonus posts. Chime’s terms say your bonus will post within 2 business days of meeting the direct deposit requirement, but in my experience, the bonus almost always posts instantly.
  • You Can Refer People With Your Own Referral Link. A big thing about Chime is that once you open a Chime account, you get your own Chime referral link. You’ll earn $75 for every person you refer to Chime and the person you refer will also earn $75 once they open a Chime account with your link and meet the bonus requirements. This makes Chime a very profitable bank account if you have people you can refer. 

In this post, I’ll walk you through exactly what you need to do to earn the $75 Chime referral bonus, as well as provide some additional strategies to make your bonus go even farther. 

But first, some background about Chime before we get started.

What Is Chime Bank? 

Chime is an online bank account that you can access through the Chime app or via the Chime website. The most important thing about Chime is that it has no fees of any sort. This includes no minimum balance requirement, no monthly fees, no maintenance fees, and even no overdraft fees.

chime referral bonus
A screenshot from Chime’s website listing their fees – which is no fees at all.

Chime is a fintech company, which means that it has a really good mobile app. Indeed, among bank mobile apps, I’d consider Chime one of the nicest and most intuitive banking apps out there. 

Another interesting feature of Chime is how fast it posts transactions. Direct deposits and transfers into the account post 2 days early, which is nice since it means you get access to your money sooner. 

I currently use Chime as a sort of business bank account for myself. I’ve made it so that all of my gig economy earnings go directly into my Chime account. This means I get my pay earlier than I otherwise would, and it helps me to organize my business earnings and expenses. 

Chime Bank $75 Referral Bonus: Step-By-Step Directions

The reason you should open a Chime account is to earn the $75 referral bonus for new Chime account holders. The process should only take you a few minutes to complete, making this well worth your time. You can basically make $75 for just a few minutes of work.

Here are the step-by-step directions to earn your $75 Chime referral bonus.  

1. Open Your Chime Account Using A Referral Link. To earn the $75 Chime referral bonus, first, you need to open a Chime account using a referral link. Here’s my referral link to open your Chime account. Opening a Chime account should only take you a few minutes. 

2. Do A Direct Deposit Of $200 Or More Within 45 Days Of Account Opening.  The next step is to do a direct deposit of $200 or more. If your employer allows you to change your direct deposit easily, then you can do it through your employer if you want to do it exactly as the terms require.

The easier way to meet this requirement, however, is to do an ACH push of $200 or more from an external bank into your Chime account. While the terms do say a direct deposit is required, in practice, an ACH push from almost any external bank account will trigger the direct deposit requirement and get you your bonus.

To do this, you’ll want to go log into your non-Chime bank account, link your Chime account to that bank account, then transfer $200 or more into your Chime account. If the transfer works, then the bonus should post instantly, but at most, within 2 business days. 

When I did it, I used Discover Bank to meet the direct deposit requirement, which worked perfectly. Other good accounts to use are Ally, Chase, Capital One 360, Marcus By Goldman Sachs, and many others. 

chime referral bonus
I earned my referral bonus by doing an ACH push from Discover Bank to Chime. The bonus posted instantly.

3. Once The Requirements Are Met, The Bonus Should Post Within 2 Business Days. Once you trigger the direct deposit requirement, the bonus should post either instantly or within 2 business days. If the bonus doesn’t post within 2 business days, try doing a transfer from another bank.  

Remember, you need to do an ACH push into your Chime account to trigger the direct deposit requirement. This means logging into your non-Chime bank account, linking Chime to that account, and pushing the money into Chime all from that external account. You don’t do anything from the Chime interface when trying to meet the direct deposit requirement.

Pro-Tip: Refer Your Friends And Earn More Chime Referral Bonuses 

When you open your Chime account, you also get your own referral link that you can use to refer other people to Chime. You can currently get $75 for every person that you refer to Chime, up to $1,000 per calendar year. Note that in my experience, Chime actually seems to limit this number to $950 worth of referrals per calendar year. I’m not sure why this happens, but it’s something I’ve noticed on my end.

If you have a spouse or partner, you can (and should) refer them and have them follow the same process to earn the referral bonus. They’ll earn $75 for using your referral link and you’ll earn $75 for referring them.

Accordingly, someone with a two-person household can currently earn $225 with just a few minutes of work. You get $75 for opening your account. Then you get $75 for referring your spouse. And then your spouse gets $75 for using your referral link. This makes Chime a very easy $225 net gain for a two-person household. 

Final Thoughts 

Chime is a very easy bank account bonus that is the perfect introduction for beginners new to the world of bank account bonuses. Since it’s a totally free account, you don’t have to worry about managing the account or doing anything with it. I would typically recommend keeping your Chime account open forever so that you can keep referring people. 

The entire process to earn this bonus is really fast, so you should be able to earn your $75 Chime referral bonus with just a few minutes of work. You can open your Chime account and earn your bonus using my Chime referral link.

If you have two people, you’ll make $225 altogether with just a few minutes of work. This makes this referral bonus well worth taking advantage of.

If you’re interested in diving deeper into the world of bank account bonuses, I wrote the Ultimate Guide To Bank Account Bonuses, which you should definitely check out. That post goes into a lot of detail about how bank account bonuses work and how you can take advantage of them. 

financial panther

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the sharing economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the sharing economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

  • Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps Kevin uses to track his financial accounts.
  • SoFi Money. A really good checking account with absolutely no fees. You'll get a $50 welcome bonus if you open an account and fund it with at least $500.
  • M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $10 for opening an account.
  • Dobot. This is a great microsaving app that monitors the cash flow in your bank account and saves away small amounts for you each week. It's free and you'll get $5 when you use it.

Feel free to send Kevin a message here.

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Share on Reddit
Reddit
Email this to someone
email

Related

Read More

Filed Under: Bank Bonuses, Money Hacks

Reader Interactions

Comments

  1. Kyle says

    January 7, 2021 at 10:40 pm

    Just a word of caution. There is a really long thread on DOC with countless complaints from people who have had their accounts either locked or closed and people are literally fighting to get their money back (sometimes thousands of dollars). My wife was one of them. Luckily it was only about $65, but took months of emails, a BBB complaint, and a complaint to the Consumer Financial Protection Bureau to finally get access back. If you do this, I’d recommend only very small balances and closing the account as soon as the bonus posts. A quick Google search will show you how wide spread this is.

    Reply
    • Financial Panther says

      January 7, 2021 at 11:15 pm

      Hey Kyle,

      Story time. I was actually a victim myself of getting my Chime account shut down. I’ve been a Chime user since early 2019 (so nearly 2 years at this point). It’s been my primary bank account for all of my gig economy apps.

      In December, a friend of mine sent me some money via Chime’s P2P transfer option and in the notes field, she wrote “Kevin’s Racket.” The word Racket must’ve triggered some automatic thing in Chime because a day later, I got an email saying my account was on hold and to provide information about my recent transactions and provide identifying documents. I did all of that, then received an email not too long later saying my account was shut down. At the time, I had over $7,000 in my account and it was still the primary account I used.

      I tried to appeal it because this is an account I actually like, but they said no dice, my account is closed forever and they won’t reopen. I asked for copies of all my bank statements, which they emailed to me immediately. They told me that my funds would be sent to me by check after 14 days, so I’m still waiting on it. I’ve been told that my funds will arrive January 11th or 12th, so we’ll see.

      Frustrating to get my account closed, but seems like they are super cautious about anything that seems fraudulent.

      That said, I would not recommend closing your account. You should always keep your Chime account open because of the referral program. Open the account, get your bonus, take your money out. Then keep the account open with a penny in it or something and use it just to refer people. Don’t use Chime for anything else – I agree with you there.

      Curious, why was your wife’s account closed? There had to be something that triggered it.

      Reply
      • Kyle says

        January 8, 2021 at 12:04 am

        Her account was locked, and Chime repeatedly refused to tell us why. We asked several times via email and phone for additional details. They would only repeat a generic “account is not in compliance with internal policies” response. Her account was opened early last year simply to get her the bonus and me the referral, and she did the bare minimum to meet those requirements and hadn’t touched the account since. That was back in April. In August she attempted to log in to find the account locked/suspended. She was never informed by Chime that they had taken any action on the account.

        They then asked to submit pics of ID. The first could be her driver’s license and the second could be something as simple as a bill with her name/address, so that’s what she did. THEN they asked for a clearer picture of the license. She submitted that. THEN they asked for a picture of the back of the license, so she submitted that. THEN they decided the bill wasn’t enough, so they asked for a picture of her passport. She submitted that. THEN they asked for a picture of her holding her passport. That’s where we drew the line. One… this behavior raised some red flags with us. We’ve never heard of a bank asking for such a thing. Two… had we submitted the picture of her, were they just going to ask for something additional? We didn’t know when it was going to stop.

        As if this craziness wasn’t enough, their responses to the BBB and CFPB contained several untruths about how helpful they were trying to be and how forthcoming they were with information, which told us all we needed to know about this company. The CFPB complaint finally got them to reinstate her access (now after almost 4 months later). So she pulled her funds and closed it down. I closed my account almost immediately after they asked for a picture of her holding her passport (and a quick Google search revealing how widespread these suspensions/closings were).

        Reply
        • Financial Panther says

          January 9, 2021 at 10:57 am

          All I can tell is that Chime is very conservative when it comes to risk, which is why they close accounts that get flagged by some automated system. My guess is because it’s a fintech company that’s likely going to go public eventually, so they’re probably just extra conservative to avoid issues (you might be surprised to hear this, but Chime is currently the highest valued fintech startup in the US).

          I know why my account got the automatic flag – it had to have been because of my friend sending me money and writing “racket” which I assume is a keyword they flag.

          Personally, I wouldn’t have closed any of your accounts. Any account with a referral, you should always leave it open purely for referral purposes. But if it’s about principles, then sure, I get it.

          As a little update, Chime did send me my statement balance check within the time period they provided. I’m not happy my account got shut down because it means I lose out on a lot of potential future referrals, but it happens.

          Reply
          • Kyle Andernacht says

            January 9, 2021 at 12:59 pm

            Yeah, I get it. But my closing wasn’t even about principles. Asking for pictures of my wife, refusing to provide anything other than a vague “policies” explanation, not telling us they took said action on the account, and then lying in their responses to BBB and CFPB… I lost every bit of trust in them. I didn’t want our money/personal information wrapped up with them in any capacity. Although the boat has certainly sailed on the personal info piece… not like they completely wiped it from their system. 🙂

            Reply
  2. Allison says

    January 11, 2021 at 8:56 am

    Hi Kevin! Just received my $75 bonus, so $75 should be coming your way soon too! Thank you so much for the detailed steps above. I have a question for you that’s both specific to Chime and more general to all bank account bonuses…

    Do you keep the direct deposit in the bank where you received the bonus for a certain amount of time? Now that I have received my Chime bonus, I would like to move that $200 elsewhere to earn another bonus, but I’m wondering if I should leave it there for a certain amount of time.

    Thanks!
    Allison

    Reply
    • Financial Panther says

      January 11, 2021 at 10:13 am

      Hey Allison, glad it worked!

      You’ll always want to read the terms of the specific bank bonus to see if you have to leave the money in there. Typically, the terms will have something like a required minimum balance for X number of days.

      That said, Chime is the easiest one because the direct deposit requirement is easy to meet, the bonus posts immediately, and you don’t need to leave any money in the account. You can transfer all of the money in the account out immediately.

      My advice would be to leave 1 cent in the account. You don’t have to do this, but that’s what I typically do with accounts that I want to keep open forever. In this case, I recommend keeping your Chime account open forever because you never know when you might be able to refer someone using your own referral link.

      I’d recommend pulling the money out via ACH transfer from your regular bank also. That is, go to your regular bank website and pull the money out of Chime from there. So if you have $275 in your account. maybe pull out $274.99 and leave 1 cent in your Chime account.

      Reply

Leave a Reply Cancel reply

Your email address will not be published.

Primary Sidebar

Close
Side Hustle Income(View Reports)
chart-icon
$119,193
Get exclusive content delivered right to your inbox.
Most Commented
Popular
  • Insight Card: A Step-By-Step Guide to 5% Interest(688)
  • Netspend Account: 5% Interest Savings and $20 Signup Bonus(589)
  • The Ultimate Guide to Bank Account Bonuses(135)
  • Bird Charger and Lime Juicer – Side Hustling As An Electric Scooter Charger(124)
  • My Postmates Review: Getting Paid To Bike Around Town(76)
  • I Quit My Job – Rejecting The Clear Career Path And Going Out On My Own(73)
  • The Dream of Barista FIRE
  • The Reverse Latte Factor – How You Can Side Hustle Your Way To Financial Independence
  • Where To Get 5% Interest Savings Accounts Now That Insight Is Gone
  • Monetize Your Life And Get Paid To Live
  • The Ultimate Guide to Bank Account Bonuses
  • Over 600,000 Miles Earned In One Year – A Recap Of My First Year of Travel Hacking

Categories

Top Posts Debt
Side Hustle Investing
Saving My Story
Travel Hacking FI

Footer

Top Resources

Get Started Travel Hacking

Automate Your Savings

Get 5% Interest On Your Money

How To Set Up a Solo 401k Account

Refinance Your Student Loans

Recent Posts

  • My Problem With Teslanaires And Bitcoin Millionaires
  • I’m Switching Banks – But Which Bank Should I Use?
  • Lili Bank Review 2021 – A Free Business Bank Account For Freelancers And Gig Workers
  • M1 Finance $30 Referral Bonus – Step-By-Step Guide
  • December 2020 Side Hustle Report – $1,582.47

Categories

  • Side Hustle
  • Saving
  • Investing
  • Side Hustle Reports
  • Top Posts
  • Financial Independence
  • About
  • Blog
  • Side Hustle Reports
  • Best Credit Card Offers
  • Gig Economy / Side Hustles
  • Student Loan Strategy
  • Resources
  • Archives
  • Press

Copyright © 2021 · Genesis Sample on Genesis Framework · WordPress · Log in

Copyright © 2021 FinancialPanther.com. All rights reserved. Privacy Policy * Disclaimer * Affiliate Policy* Contact Us