Chime is a deposit account with all the bells and whistles. Direct deposits are accepted, and the Automated Clearing House (ACH) Network allows for pre-authorized withdrawals and interbank transfers. Chime provides you with. An FDIC-insured deposit account that you can manage solely on your phone. account earns money by receiving commissions from Visa when consumers use its debit and credit cards. These standard banking products are not available. Fees for utilizing ATMs that are not part of the bank's network. Chime is an online-only banking institution that offers checking and savings accounts with two banks.