Capital One vs Chime

Choose Capital One if…

• US customers who want fee-free online checking and a credit card from the same bank
• 360 Checking has no monthly fees, minimums or overdraft fees
• 70,000+ fee-free ATMs across Capital One, MoneyPass and Allpoint

Choose Chime if…

• US workers who want a no-fee checking account, early paychecks and a simple way to build credit
• No monthly fee on the core checking account
• Credit Builder secured card for people with thin or poor credit

What is Capital One?

Capital One is a large US bank best known for its credit cards, and also runs 360 Checking and savings accounts that are managed mainly online and in its mobile app. The 360 Checking account has no monthly fees, no minimum balance and no overdraft fees, and comes with access to a large fee-free ATM network plus Zelle for sending money. The app handles card lock and unlock, mobile check deposit, credit score tracking through CreditWise, rewards redemption and a subscription manager, and its assistant Eno flags unusual charges. A small number of Capital One Cafés and branches give in-person help in some cities. It suits US customers who want a mainstream bank with no-fee everyday accounts and good credit card options under one login. Discover is now part of Capital One. Deposit accounts are FDIC insured. It's only for US residents, and branch coverage is thin outside a few regions.

What is Chime?

Chime is a US financial technology company that offers checking and savings accounts you open and manage from a phone app. It is not a bank itself: the accounts and Visa cards are provided by partner banks, which gives deposits pass-through FDIC insurance. The pitch is everyday banking without the usual fees, plus features aimed at people living paycheck to paycheck: getting direct deposits up to two days early, SpotMe fee-free overdraft coverage, small advances through MyPay, and a secured Credit Builder card that reports to the credit bureaus. Sending money to other people is built in through Pay Anyone. The core checking account has no monthly fee, though some optional features such as instant advances can carry fees. There are no branches, so cash deposits go through retail partners, and support runs through the app and phone line. It is available only in the United States, on iOS, Android and the web.