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Chime is a popular online banking service that offers various features such as spending accounts, savings accounts, credit builder cards, and mobile check deposits. However, if you are not satisfied with Chime or want to switch to another bank, you may want to cancel your membership and get a refund for any transactions that you made with Chime. In this post, we will explain how to do that and what are the terms and conditions of Chime's refund and cancellation policy.

How to Cancel Chime Membership

To cancel your Chime membership, you need to follow these steps:

  1. Log in to your Chime account on the website or the app.
  2. Go to Settings and select Account Information.
  3. Scroll down and click on Close My Account.
  4. Confirm your decision by entering your password and clicking on Close Account.

Note that closing your account will deactivate your Chime debit card, credit builder card, and any direct deposits or automatic payments that you have set up with Chime. You will also lose access to your spending account, savings account, and any money that you have in them. You will also not be able to receive any refunds or payments that are sent to your closed account. Therefore, make sure that you withdraw or transfer your funds before closing your account.

Can You Cancel a Chime Payment?

If you made a payment with your Chime debit card or credit builder card and want to cancel it, you may be able to do so depending on the status of the transaction. If the transaction is still pending, you can cancel it by contacting the merchant or the recipient and asking them to reverse the charge. However, if the transaction has already been posted, you cannot cancel it through Chime. You will need to contact the merchant or the recipient directly and request a refund.

How Can I Get a Refund Through Chime?

If you are eligible for a refund from a merchant or a recipient, you can get it through Chime as long as your account is still active. The refund process may vary depending on the type of transaction and the merchant's policy, but generally, it involves these steps:

  1. Contact the merchant or the recipient and request a refund. Provide them with your transaction details and the reason for the refund.
  2. Wait for the merchant or the recipient to process your refund request and issue a refund to your Chime account.
  3. Check your Chime account balance and transaction history to see if the refund has been posted. Depending on the merchant or the recipient, it may take up to 10 business days for the refund to appear in your account.

Note that if you closed your Chime account before receiving a refund, you will not be able to access it through Chime. You will need to contact the merchant or the recipient and provide them with an alternative method of payment for the refund.

How Long Does Chime Take to Refund a Pending Transaction?

If you canceled a pending transaction with your Chime debit card or credit builder card, it may take up to 7 business days for Chime to release the funds back to your account. This is because Chime has to wait for the merchant or the recipient to confirm that they have reversed the charge before releasing the funds.

How Do I Cancel a Dispute?

If you filed a dispute with Chime for an unauthorized or incorrect transaction and want to cancel it, you can do so by contacting Chime's customer service. You will need to provide them with your dispute details and explain why you want to cancel it. However, note that once you cancel a dispute, you cannot reopen it or file another one for the same transaction.

Does Chime Charge a Transaction Fee?

Chime does not charge any fees for using its debit card or credit builder card for domestic transactions. However, if you use your cards for international transactions, you may incur fees from Visa or Mastercard depending on their exchange rates and policies. These fees are usually around 3% of the transaction amount and are deducted from your account balance.

How Do I Avoid Chime Fees?

Chime does not charge monthly fees, minimum balance fees, overdraft fees, or transfer fees. However, there are some situations where you might incur fees from Chime or third parties. For example, if you use an out-of-network ATM, you might have to pay a fee to the ATM owner. To avoid this, you can use one of the 38,000+ fee-free ATMs in the MoneyPass® and Visa Plus Alliance networks. You can find the nearest fee-free ATM using the Chime app or website.

Another situation where you might face fees is when you make a cash deposit at a Green Dot location. Green Dot is a service that allows you to add cash to your Chime account at participating retailers, such as Walmart, CVS, Walgreens, and 7-Eleven. However, Green Dot charges a fee of up to $4.95 per deposit. To avoid this, you can use direct deposit to get your paycheck or benefits deposited into your Chime account for free. You can also transfer money from another bank account or use mobile check deposit to add funds to your Chime account without fees.

Does Chime Charge an Insufficient Funds Fee?

Chime does not charge an insufficient funds fee if you try to make a purchase or payment that exceeds your available balance. Instead, Chime will decline the transaction and send you a notification. However, if you have enrolled in SpotMe, Chime's optional overdraft service, you might be able to make the transaction without paying any fees. SpotMe allows eligible members to overdraft up to $200* on debit card purchases and cash withdrawals with no fees. You can choose to tip Chime for this service, but it is not required. You can also adjust your SpotMe limit or turn it off at any time in the app.

Will Chime Refund International Transaction Fees?

Chime does not refund international transaction fees. If you use your Chime debit card for purchases or withdrawals outside of the United States, you will be charged a 3% international transaction fee by Visa. This fee is not charged by Chime, but by Visa as a standard fee for processing transactions in foreign currencies. Therefore, Chime cannot waive or refund this fee.

How Do I Avoid International Transaction Fees?

If you want to avoid international transaction fees, you have a few options. One option is to use a credit card that does not charge foreign transaction fees. However, this might not be feasible or desirable for everyone, especially if you want to avoid debt or interest charges. Another option is to use a prepaid travel card that allows you to load money in different currencies and avoid conversion fees. However, this might also come with some drawbacks, such as limited acceptance or hidden fees.

A third option is to use a digital wallet or payment app that supports international transactions without fees. For example, you can use PayPal, Venmo, Cash App, Zelle, or Apple Pay to send and receive money internationally without paying any fees. However, this might require both parties to have the same app and a compatible device. Also, some apps might charge fees for currency conversion or withdrawal.

What Happens When a Refund Is Issued to a Cancelled Debit Card?

If you cancel your Chime debit card because it was lost or stolen, and then receive a refund from a merchant for a purchase made with that card, don't worry. The refund will still be processed and credited to your Chime account as usual. You don't need to have the physical card to receive the refund.

However, if you close your Chime account completely and then receive a refund from a merchant for a purchase made with your Chime debit card, the situation might be different. In this case, the refund might be rejected by Chime and returned to the merchant. You will then have to contact the merchant directly and provide them with an alternative method of payment for the refund.

How to Contact Chime

If you have any questions or issues regarding your Chime account, card, or refund, you can contact Chime by:

  • Emailing [email protected]
  • Calling 1-844-244-6363
  • Chatting with them in the app or on their website

Chime's customer service hours are:

  • Monday through Friday: 6 am to 10 pm Central Time
  • Saturday and Sunday: 7 am to 9 pm Central Time

The Bottom Line

Chime is a popular online banking service that offers a debit card, a credit builder card, and a cash rewards card. However, if you decide to cancel your card or close your account, you should be aware of the implications for any refunds that might be issued to your card.

We hope this post has helped you understand what happens when a refund is issued to a Cancelled debit card, and how to contact Chime if you need any assistance. Based on our research, we give Chime a score of 4 out of 5 for their return and refund policy.