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Have you ever tried to make a payment which met with an error? If yes, believe me, you are not alone. It happens with everyone. At this, a large number of people start cursing their luck and service provider for poor services. But, we forget that all money transfer services including debit and credit cards come with some limits. How much money one can send, receive, and withdraw; everything is pre-decided. Exceeding limit may result in payment failure.This same perspective also goes with Chime online banking. If you are a Chime user, you must know about the Chime Spending limit.
You might have $5000 in your Chime bank account, but don't forget that you can't spend the whole amount in a day. Similarly, you can send an amount and withdraw money up to a certain limit. As when I realized that many Chime users don't have an idea about the daily spending limit on Chime, I thought it would be a good idea to explain the maximum money sending and payment limit on Chime bank.
To help you understand all about payments related restrictions in Chime, I am going to answer some of the most frequently asked questions. So, let's get to the point without any further delay.
Also Read: How to request money on Chime?
As we all know that Chime offers a broad range of services, its limits also could be divided in many ways. Such as the Cash Back at Point of Sale (POS) limit is up to $500.00 per day. And Over The Counter Withdrawal limit is set up to $500.00 per day. Also, the Card Purchases limit is set up to $2,500.00 per day. But, a piece of good news is that there is no limit to the number of transactions per day. It means you can make as many transactions as you wish without any problem as long as you don't exceed the maximum amount limit.
The best part of the Chime is that signing up and setting up an account is totally free. Not only this but also many remarkable features are free such as adding an external bank account and enabling direct deposit. Furthermore, ordering a Visa Debit Card, requesting money, and pay to a friend is also free.
What is the Chime ATM Spending limit? It may be your next question. Be informed that any Chime user can spend $2500 per day through a Chime ATM card. However, it is also worth noting that fees and charges on cash withdrawal through Chime Visa Debit Card also depends upon the ATM owner-operators, Merchants, and participating banks.
Important Note: Cash withdrawal through Chime bank card may charge you up to $2.50 per transaction upon withdrawing money through out-of-network services. For example, if you swipe your card at VisaPlus Alliance and MoneyPass Alliance network ATM, a $2.50 fee will be applicable.
According to the latest updates and Chime's policy, users can't increase their spending limits. All the said limits are fixed and unchangeable. This feature of Chime is the only thing that I don't like. Also, what I have noticed is that many other payment apps such as Cash App, Venmo, and Zelle allow the users to increase spending limits after successful identity verification. But, on the other hand, there is no such feature available in Chime.
Also Read: How to activate Chime Visa Debit Card?
Needless to say how useful is the SpotMe feature on chime as it enables users to make debit card purchases that overdraw your account. The truth is, you can increase the free SpotMe limit from $20 to $100. But, don't forget that not all users are not eligible for SpotMe. Only those users who receive at least $500 through direct deposit in 31 days are eligible for SpotMe.
Now the million-dollar question is how you can increase the overdraft limit on Chime? A simple answer to this question is just- maintain a good balance in your Chime bank account and keep receiving money through direct deposit. If you do so, automatically, your limit will increase.
So, in short, the Chime spending limit is quite restricted. If you don't spend a lot of money in daily life, Chime can be the best choice as it offers quality services with no or minimal charges, unlike many other payment apps. If you know something that I didn't mention in this post, feel free to share that in the comment section.
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