December 28, 2021Blog Posts

Chime’s “No Overdraft Fees” Claims Supported

The National Advertising Division (NAD) of BBB National Programs determined that Chime Financial, Inc.’s advertising for its “SpotMe” program disclosed the material information necessary to ensure that claims about its program are substantiated and that Chime’s “no overdraft fees” claims are supported.

Further, NAD found that the Chime homepage adequately qualifies its “no fees” claim so that consumers understand that out-of-network ATM fees are not among the hidden fees it eliminates. However, NAD recommended that Chime qualify claims on its “No Hidden Fees” webpage and television advertising to make clear that the eliminated fees do not include out-of-network ATM fees.

The following express claims were challenged by NAD as part of its independent routine monitoring of truth and transparency in U.S. national advertising:

  • “Banking with no hidden fees”
  • “Say goodbye to hidden fees when you bank through Chime. No overdraft fees. No minimum balance fees. No monthly fees. No foreign transaction fees.”
  • “Say goodbye to hidden fees*” (at the bottom of the webpage: “*Out-of-Network cash withdrawal fees apply. Third-party and cash deposit fees may apply.”)
  • “And if I’m ever in a pinch, Chime SpotMe even lets me overdraw my account fee-free on debit card purchases.”
  • “I don’t have to worry about overdraft fees. There’s no surprises, no hidden fees.”


New research from The Strawhecker Group analyzes key trends and consumer attitudes.

Download a free infographic covering several findings from the full report.

Consumers have increasingly adopted Buy Now, Pay Later (BNPL) services for multiple reasons; a desire for financial flexibility, a way to avoid incurring credit card debt, or to purchase items outside of their budgets. However, despite its popularity, consumer debt and missed payments have led to calls for additional research and regulation. Read the press release.

To take a closer look, The Strawhecker Group (TSG) conducted a survey of over 1,500 U.S. consumers in early 2021 with the goal of understanding domestic attitudes and perspectives on the use of BNPL services. The complete findings, a selection of BNPL provider profiles, and market landscape details can be found in the firm’s new report Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes.

Highlights of this extensive 81-page report include:

  • Buy Now, Pay Later Background
  • Key Players in the Buy Now, Pay Later Space
  • Buy Now, Pay Later Consumer Survey
  • Concluding Thoughts: The Future of Buy Now, Pay Later
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