Chime Has Been Suddenly Closing Accounts, Sometimes Not Returning Customers' Money

[superpatriotman]

https://www.propublica.org/article/chime

Chime, a “neobank” serving millions, is racking up complaints from users who can’t access their cash. The company says it’s cracking down on an “extraordinary surge” in fraudulent deposits. That’s little consolation to customers caught in the fray.

Chime built a base of 8 million customers between its launch in 2013 and 2020, then jumped to 12 million over the past year, according to Cornerstone Advisors. Many of the new accounts began with deposits from federal stimulus payments, according to a recent analysis by Cornerstone and StrategyCorps, two financial service companies that specialize in consumer research.

All that growth has made Chime, which is based in San Francisco, a hit in Silicon Valley. Venture capitalists have given the company a valuation of $14.5 billion, and the company’s CEO said in late May that Chime might prepare to go public as early as this fall.

Be careful out there!

[elleng]

1. neobank???

[C_U_L8R]

2. You take the blue pill, the story ends, you wake up in your bed... broke

Take the red pill... same result but you get an NFT.

[elleng]

3. Right.

[XanaDUer2]

4. For a nanosecond I considered a neobank

then I thought naw. Hope they get access to their money

[SallyHemmings]

5. Thanks for posting!

My daughter and my bonus children have Chime accounts.

[Budi]

6. Comments From the Chime customers after the 3rd Shutdown issue

"Chime (ALSO) had an outage on October 16th, 2019, the third such outage since July.
This left customers unable to make purchases or use their debit card to access cash.

The corporate office for Chime is located in San Francisco, California. Chime is backed by The Bancorp Bank"


http://corporateofficehq.com/chime-bank-corporate-office/

COMMENTS:

...says

June 16, 2021 at 11:55 pm

I’m extremely pissed off! My account closed due to savings account problems at the end of April.
I requested for my check to be sent to my address on May 16. I’ve been regularly checking in on my check and everything was fine until a member told me i had to provide proof AGAIN to get my check sent to said address! At that time it was June 4, i was told on June 6th that they canceled and resent my check without my consent!! Why would you do something so dumb if it takes up to 20 days??? & I’ve been persistent with emails of how urgent i needed that check.
Now it’s June 16 as of today and it’s STILL NOT PROCESSED AND I STILL DONT HAVE A TRACKING NUMBER!! I have to pay rent on June 24th and it makes no fckn sense that we’re in a pandemic and chime is this unprofessional! I’ve asked to speak to corporate many times and is gettin ignored or they send me to somebody else! I never talk to the same person! It’s annoying and I’m PISSED
(Scroll down page to READ MORE comments...)
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Chime Facts
Founder: Chris Britt & Ryan King
Date Founded: 2013
Founding Location: San Francisco, California
Number of Employees: 200

Chime Executives
CEO: Chris Britt
CFO: Ryan King
COO: Matthew Newcomb

(Maybe a good idea to search the background & affiliations of these 3 execs.)

Here's Forbes' bio on Chris Britt.
Prior work with VISA & GREENDOT
https://www.forbes.com/profile/chris-britt/?sh=39509d717277