A portion of this interchange fee is paid out to Chime.When you make a purchase with your Chime Visa Debit Card, Visa charges an interchange fee to the merchant.Financial institutions charge merchants these fees whenever a customer uses a debit or credit card to make a purchase. Yikes.Ĭhime makes money primarily from interchange fees. According to S&P Global Intelligence, big banks raked in a staggering $2.34 billion in overdraft fees in the first three months of 2021 alone. 1 So you might wonder how Chime manages to make money without slamming you with fees.Īfter all, fees are lucrative among traditional big banks.
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