Chime’s “MyPay” Sounds Good

But if past behavior is any indication . . .

Andy Spears
2 min readMay 15, 2024
Photo by Rami Al-zayat on Unsplash

Get paid between paychecks. Get a cash advance up to $500 with no interest and a $2 fee.

Pay it back with your next direct deposit.

It sounds easy and straightforward and like a positive way to manage cash flow.

It’s from Chime, a fairly popular fintech provider of banking services.

The Consumer Financial Protection Bureau (CFPB) issued the penalty after finding that Chime Financial delayed customer refunds for weeks and sometimes months, inflicting significant financial harm on individuals who simply wished to close their Chime accounts.


  1. Chime’s earned wage access cash advance may be the best deal out there in the space
  2. User beware. Chime is not always nice to customers who want to end a relationship




Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .