Forum

Chime Bank
 

Chime Bank DOES NOT work with PayPal, it may have worked in the past. If any of you are CURRENTLY using Chime Bank with PayPal let me know, as in my experience it has not worked. Did a transfer and received these emails days later before the money hit my account:

"A recent transaction with your bank account ending in x-xx** didn't go through.
As a result, we have removed this bank account from your PayPal account.
To re-add this bank account to your PayPal account, please confirm with your bank that all information is correct. Alternatively, you can add another bank account.
We apologize for any inconvenience this may cause.
Sincerely,
PayPal"

as well as

"We received an automated response from your bank informing us that the bank account you were trying to use for this payment has been closed.
As a result, we were unable to charge your bank account for this transaction. We will not attempt to debit your bank account again"

I will be back with another thread on whether or not Simple Bank works. Trust me, I am just as disappointed as you! :smash:

Re: Chime Bank
 

OP, can I ask which account type you tried - chequing or savings?

Re: Chime Bank
 

It was a checking account.

Re: Chime Bank
 

Doesnt mean they dont work. Sometimes there are just glitches. I've had it happen before.

Re: Chime Bank
 

That has happened with my chase account as well on my personal paypal acc with matching address. Chime is a great bank I'm going to be honest support is amazing the app is great the card replacement is free. Which is awesome because I lose my stuff a lot.

Re: Chime Bank
 

Good experience contribution :thumb:

Re: Chime Bank
 

your bank is virtual bank.
thats paypal sending smal anount to verify your bank.
after they asking 1 amount refund from your bank.
if the bank does not refund the smal amount its mean that is virtual bank and paypal not allowing to ad any virtual bank.
i wish u try to add gobank or trasferwise.

Re: Chime Bank
 

Chime does NOT work along with all the other virtual banks out there for Stealth. Crap "banks" like Metabank, NetSpend, WalmartMoneyCard, Go Bank, etc.

The problem is these so called "banks" are used by fraudsters, and they have a lot of scrutiny placed on them. It's also a problem for PayPal since they can't pull back the two small microdeposits, thus the account confirmation will usually fail.

Re: Chime Bank
 

Hello I read a lot through the forum but I could find the answer, could you please tell me what virtual bank cards (the ones that comes with account number and routing number) are good to verify a new paypal account?
Thank you in advance for your help

Re: Chime Bank
 

these virtual banks are designed for the "unbanked". not people funneling tens of thousands of dollars in mismatched name deposits, etc. i highly doubt any of them will work.

as nickopedia said, i would assume a lot of these apps will have a ton of security checks in place to protect them from getting shut down. look what happened to Robinhood, a huge company now, that tried getting into the game without checking regulations. they immediately had to shut the service down. you are more than welcome to fire up your phone and go on a rampage apply for virtual accounts, but don't act all surprised when you get smoked. i haven't seen anyone on the forum confirm that any of these VB's are worth shxt.

Re: Chime Bank
 

There are a whole TON of these apps and so-called mobile "banks" and prepaid cards out there now, mainly targeting the "unbanked" segment as the poster above described.

I think of them as "veneer" services; they are just a cover for some real bank.
They always use a partner institution to transact with the real banking system (which also offer the pass-through FDIC insurance.)

The three largest are:
The Bancorp Bank
Green Dot Bank
MetaBank

Between them they have hundreds, if not thousands of products and partner firms. There are others, too, but these are the biggies.

For the most part trying to add any of the three banks I listed above will be problematic since they have been so much trouble for PayPal before. Heavily used/abused crap.

Re: Chime Bank
 

you're right all the way. i looked into a few of them and they are all literally backed by banks known on this forum for over a decade.

so the app is just some cover up crappy company trying to ride the fad wave of targeting "unbanked" people and then partnering with one of these shxt prepaid banks we all already know about. wolves in sheep's clothing......

Re: Chime Bank
 

some people are under-banked. that's a similar situation to being un-banked

Re: Chime Bank
 

There are also people who have considerable assets and money, but elect not to participate in the traditional banking system for their own reasons. Some of them are immigrants, or don't trust banks.

Even the virtual banking products like Bancorp, Greendot, etc require an SSN and have to comply with the basic federal regulations as the big banks do. Basic KYC/AML. There are no loopholes in the USA unless you use a stored value gift card that don't, but they are so heavily restricted you can't really use them with PayPal anyway.

PayPal is is more or less a real bank now, and the regulations now are forcing them into complying with KYC and that means they will confirm why you are, or severely restrict what you do. In the USA financial space, there is no such thing a a "stealth" banking product anymore.