What is Chime SpotMe cash advance?

Yes, Chime SpotMe effectively offers a type of cash advance by allowing you to overdraw your account by up to $200 without any overdraft fees or hidden charges. When you're short on funds, SpotMe covers your debit card purchases and ATM withdrawals, so you can keep using your account even if your balance dips below zero. To qualify, you need to receive at least $200 in monthly direct deposits into your Chime Checking Account. Repayment is automatic—any money deposited into your account will first go toward settling any negative balance. There’s no interest or fees involved, making it a convenient option when you need a little extra cash.

Some of the Chime cash advance requirements include:

1. Age: Be at least 18 years old.
2. Chime Account: Have a Chime Checking Account.
3. Active Card: Have an activated Chime Visa® Debit Card or Credit Builder Visa® Credit Card.
4. Direct Deposit: Receive at least one qualifying direct deposit of $200 or more into your Chime Checking Account within the past 34 days.
5. Regular Deposits: Maintain ongoing qualifying direct deposits into your account.

Once you meet these requirements, you can enroll in SpotMe through the Chime app. Your initial SpotMe limit will start at $20 and can increase up to $200 or more based on your account activity and direct deposit frequency. Chime will automatically cover eligible transactions that exceed your balance, and any negative amount will be repaid when your next deposit arrives.

In addition to the fee-free overdraft that Chime SpotMe provides, there are some other features you might find helpful in managing your finances.

SpotMe Boosts and Limit Adjustments

With Chime SpotMe, not only can you overdraw your account without fees, but you also have the option to adjust your SpotMe limit. You can manually lower your limit in the app if you want to keep tighter control over your spending. Plus, you can temporarily increase your limit by $5 for the month by receiving Boosts from friends and family who also use Chime. You can send and receive up to 4 Boosts per month, and each Boost lasts until the start of the following month. Chime may also offer promotional increases to your SpotMe limit from time to time.

Use with Credit Builder Card

SpotMe isn't just for your Chime Debit Card—it also works with the Chime Credit Builder Visa Credit Card. Both cards share a single SpotMe limit, giving you flexibility in how you spend. You can easily switch between cards in the app settings, making it convenient to manage your finances with the card that works best for you.

Real-Time Notifications

Chime keeps you in the loop with real-time notifications. You'll get automatic alerts whenever SpotMe covers a transaction, when your negative balance is repaid, and if there are any changes to your SpotMe limit. These notifications help you stay on top of your account activity and make informed decisions about your spending.