Unnecessary charges and penalties are something that no wise person can ever like. In the list of unwanted charges that the bank applies, the overdraft fee is the one. As the name implies, an overdraft fee comes into the picture when any account holder spends money more than the available funds in the bank account. The different banks may have different overdraft fees structure. Usually, it ranges from $30 to $50 per item. It means the total penalty in the form of overdraft fees may reach up to $250 per year. Hence, it is quite normal to think of the best alternatives to avoid this disgusting fee. And that's where Chime SpotMe can come to your rescue.
If you don't know, be informed that Chime online bank is massively popular for free banking services. The best thing that millions of people love about Chime is its quick, safe, and reliable money transferring and deposit services. From opening an account and using a Chime credit card; everything is free. You can read our other blogs on Chime for more information.
So, let's come back to the main question- What is the Chime SpotMe feature, and how it does work? To help you understand all about the SpotMe feature on Chime, I am going to answer some of the commonly asked questions. Here we go:
What is the Chime SpotMe feature?
How can I avoid getting an overdraft fee? You have this question in your mind. Right? If yes, here is the answer- Chime Spot Me feature. Yes, with the help of this unique but simple feature, you can say goodbye to an overdraft fee. It means you will not incur any penalty on your account if you spend funds more than you have in your bank account. But, as of now SpotMe feature on Chime comes with a limit of $20 which you can increase up to $100. Now the question is how you can increase your SpotMe limit. Find an answer in the next section.
How to increase the Chime Spot Me limit?
In order to increase your Chime Spot Me limit, you can do a number of things. First thing is to enable Chime direct deposit. Yes, it may surprise some of you, but the fact is that Chime also offers free but awesome direct deposit service. So, the excellent thing you can do to increase your SpotMe limits from $20 to $100 is received payment in your Chime account through direct deposit at least once in a month.
Also, share and refer your friends to Chime. The more you share Chime among your friends, the better it would be for you. The next step is to maintain a sufficient balance in your Chime bank account and spend your funds through the Chime debit card. In short, to increase your limit of the SpotMe feature, you have to increase the engagement.
What are the Chime Spot Me reviews?
Undoubtedly, people have positive reviews about the SpotMe feature of Chime. Why? Because it is free to use, set up, and manage. According to the recently published reports, more than 5 million people are enjoying the Chime SpotMe feature with ease of mind. Also, from the point of savings, many experts have appreciated this feature. That's not all, once you receive your next direct deposit, Chime automatically compensates for the negative balance which is also an added advantage to your comfort.
Why is my Chime Spot Me not working? Fix it now!
The cases of problems with the Chime SpotMe feature are rare, but not fully deniable. So, the idea here is to keep in mind the below-mentioned instructions to make sure your SpotMe feature in Chime always works as expected.
The first point to bear in mind is that not everyone is eligible for the SpotMe feature in Chime. So, before you think that something is wrong with your Spot Me, check and make sure whether this service has activated or not.
Make sure your SpotMe button is turned on. To do so go to your setting on your Chime bank app and select the SpotMe.
Always remember that the Chime SpotMe feature works with only Chime debit card purchases. It does not work with ATM withdrawal, Pay Friends, and other kinds of transactions including credit card purchases.
In conclusion, we can say that the Chime SpotMe feature is not only a convenient but also a smart way to avoid overdraft fees. So, as you have learned all about the SpotMe feature on Chime, don't stop here. Go ahead and enjoy this feature.