Simple vs. Chime vs Axos? Which one is best in US

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Simple vs. Chime vs Axos? Which one is best in US

S Scott

All of my banking is currently done through Chase. I have a main personal checking account where I keep most of my cash and pay all my bills/credit cards from, then I have an additional checking and additional savings account.

The primary purpose of the extra accounts was putting aside money for 1) home savings (unforeseen repairs, etc.) and 2) general extra savings (unforeseen medical bills, emergencies, etc.). Currently and for the first time ever I'm incurring fees on both accounts which is what spurred me to look into this.

Curious what people would recommend for me. Simple looked neat because of the Goal feature (I like being able to separate my savings into different categories which was the reason I started the two accounts in the first place).

The other Chase checking features I use are:

automatic bill pay
Quickpay/Zelle
mobile check deposit
ATM though I rarely take out cash

Generally speaking, I put most of my expenses on my credit cards and then pay them from the main Chase checking account.

Thoughts?

HannahMarla

I didn't have very good experience with axos.

I recently set up a Etsy store (not advertised here because that isn't what this is about), and got my first sale. Unfortunately my Etsy account had bank information that was very old and outdated at this point. I didn't even realize the bank was still in existence. Etsy asked me to contact AXOS, which when I used them was bank of the internet, years prior, I had used it just for paypal actually. When reaching out to AXOS they verified I was me, then promised me a check within 2 weeks. This was Nov 30.

Jan 3, I get an email .I don't often check the email they have on file, and when I was celebrating my friends birthday party, then my reply while as the Result: They sent me a check for what little was in the account, without verification. IDK

What Does everyone else think of this?

Chris Adams

CHIME Vs AXOS

Axos Bank Pros

Axos Bank offers a good variety of bank accounts.
They offer cash-back and interest-earning checking accounts.
They offer a checking account for those over 55 and for teens.
Axos offers money market and savings account, along with CDs. Their CD terms range from three to 60 months. Axos offers checking, savings, and money market accounts for businesses. They also offer lending options for personal accounts and business accounts.

There is not a set account balance required to earn interest.

The Axos Bank accounts do not have monthly fees.
The accounts do not have set balances that you must keep in your account to avoid fees.
These accounts are free.

The minimum opening required amount for Axos accounts are low. Most of the Axos checking accounts require $50 to open.

Chime Bank Pros

Chime accounts do not have monthly maintenance fees.
The Spending and Saving account are completely free.
There is not an overdraft fee or a monthly maintenance fee. There is no minimum balance required to keep in the account.
On the Chime app is a Pay Friends feature. You can send money to others instantly.
Chime offers an Automatic Savings tool. Each time you use your Chime debit card the amount rounds up to the nearest dollar. The extra amount is automatically transferred to your Chime Savings account. With direct deposit, you can have ten percent of your check automatically deposited into your savings account.
When you open a Chime account, they do not check your credit score or ChexSystems. -
Chime only offers a Spending account and a Savings account.

Chime offers 38,000 fee-free ATMs. If you use an ATM not included in the Chime network, you are charged a fee of $2.50 per ATM transaction.

HannahMarla

The Axos Bank Rewards Checking account is easy to open and maintain, requiring only a $50 minimum opening deposit and forgoing any minimum balance requirements after that. You also don't have to worry about fees for monthly service, overdrafts and non-sufficient funds.

Although it's an NEO BANK(online bank), Axos Bank still provides account holders with free access to tens of thousands of ATMs across the country. Deposit cash into your checking account, use eligible ATMs through the Axos Bank website or on its mobile app, available in the Apple App Store or Google Play Store.

You can also deposit cash at a Green Dot Network locations, like at a CVS, Kroger or Walmart.

S Scott

Simple Bank Vs Chime

Simple's online banking terms -
here are the rates, fees, and other terms you'll get with a Simple account:

Minimum balance required to open: None
Monthly fee: None
Overdraft fee: None
ATM fees: None with Allpoint ATMs, though you won't be reimbursed for fees incurred outside of the network
Foreign transaction fee: Up to 1% charged by Visa
Online checking APY: 0.00%
High-yield savings APY: 0.60%
Certificate of deposit APY: 0.50%

Simple is not just a bank account—it’s also an app that helps you oversee your finances with a sleek user interface and money management tools. If you’re someone who’s looking for a bank account and a budgeting solution, this could be a good choice. But you need to be at least 18 years old with a Social Security number to open an account, and you need a device running Apple iOS 11.0+ or Android 6.0+ (Marshmallow) to use the app.

Chris Adams

CHIME APY - Chime Savings Account APY

Annual Percentage Yield – Chime's savings account earns 0.50% annual percentage yield (APY), which is considered a high-yield rate.

CHIME doesn't charge monthly fees or require a minimum balance.
There is no cap on the amount of interest you can earn.
As long as you have at least a penny in your account, you'll earn interest.