Chime is a fintech that offers access to a range of fee-free banking services. These include a chequing account and a high-interest savings account, a no-fee overdraft facility and a Visa debit card.
Chime is hugely popular in the United States, but it’s not available to Canadians. So if you’re looking for Canadian fintechs and neobanks that offer similar products and services, check out these Chime alternatives.
Is Chime available in Canada?
No, Chime is not available in Canada. You’ll need to be living in the United States to open an account with Chime.
But there are several providers that do offer low or no-fee digital banking in Canada, so let’s take a closer look at seven Chime alternatives.
Top 7 Chime alternatives in Canada
1. EQ Bank
EQ Bank is the direct banking arm of Equitable Bank. Launched in 2016, this digital bank is a Canada Deposit Insurance Corporation (CDIC) member and offers a wide range of personal banking products.
EQ Bank offers the Notice Savings Account and Personal chequing account, while also supporting free withdrawals from any ATM in Canada. Other products include TFSAs, RRSPs, a US dollar account, GICs and an online mortgage marketplace.
EQ Bank also offers a streamlined online platform and mobile app, making it well worth a look if you’re searching for Chime alternatives in Canada.
The EQ Bank Personal Account offers the spending flexibility of the Chime Account with the interest earning power of Chime's High-Interest Savings Account. On one hand, the Personal Account functions like a chequing account, supporting unlimited transactions with no monthly fee. On the other, it also works as a savings account—you can earn 4% interest on your balance if you have your pay directly deposited into the account.
No monthly fee or minimum balance requirement
Unlimited transactions
Earn up to 4% interest
Fee-free ATM withdrawals across Canada
No physical branches
No cheques
You need to meet terms and conditions to earn the maximum interest rate
Min. Age
18
Account Fee
$0
2. Simplii Financial
Simplii Financial is a digital bank owned by CIBC. Launched in 2017, this branchless bank aims to make banking simple.
Open an account with Simplii and you can manage it online, via the Simplii Financial mobile app and at CIBC ATMs. Products include Simplii’s High Interest Savings Account, which offers one of the highest promotional interest rates in Canada.
It also offers foreign currency savings accounts, newcomer and student banking packages, a Cash Back Visa credit card that pays up to 4% cash back on eligible purchases, mortgages, personal loans and lines of credit.
The Simplii No Fee Chequing Account comes with $0 transaction fees, $0 e-Transfer fees, interest on your balance and a debit card, all with no monthly fee. Pair this account with the Simplii High Interest Savings Account to help your money grow even faster.
Earn $300 when you sign up for a new account
Enjoy unlimited free transactions and e-Transfers
No monthly account fee
Earn 0.01% interest on your balance
No minimum deposit requirements
Earn a referral bonus
Simplii is an online only provider
You can only earn the welcome bonus if you're a new Simplii customer
Residents of Quebec cannot open a Simplii account
Min. Age
18
Min. Age Teen Account
12
Account Fee
$0
Overdraft Fee
$4.97
ATM Out-of-Network Fee
$1.50
U.S. ATM Fee
$3
International ATM Fee
$3
3. KOHO
KOHO offers a fee-free, spending and savings account that supports unlimited transactions and pays 3% interest like a savings account. And because your account is linked to a prepaid Mastercard, you can spend your money whenever you want (and get cash back from KOHO partners for doing so).
What makes KOHO an enticing Chime alternative is its user-friendly app. The app, which is rated 4.8 out of 5 by iOS users and 4.6 out of 5 by Android users, makes it easy to send transfers, check your balance and track your spending.
You also get access to features such as a credit building tool and the ability to set savings goals, offering plenty of bang for your buck from a free account.
KOHO offers an online savings account with a host of added perks. You can earn 2.5% interest on your balance and you also get a linked reloadable prepaid Mastercard that you can use to make purchases, where you can earn cash back on your spending. KOHO also offers a suite of budgeting tools to help you track your spending and save more money, plus it provides access to a line of credit that you can use to build your credit history.
$0 transactions and eTransfers
Earn cash back
Small monthly fee is charged (however it can be waived)
Min. Age
18
Account Fee
$4
Transaction Fee
$0
Interac e-Transfer Fee
$0
NSF Fee
$0
4. Wise
Founded in 2011, Wise was originally known as TransferWise and specialized in international money transfers. It now offers a host of other products and services to customers who need to send and receive international payments, exchange foreign currency and make purchases while travelling overseas.
Its Multi-Currency Account allows you to convert and hold funds in 40 currencies, while you can also receive international payments in 9 currencies. And with a Wise card in your pocket, you can get the mid-market exchange rate when you pay for purchases abroad.
Like Chime, Wise also offers a highly-rated mobile app that makes managing your money a piece of cake. With an average user rating of 4.7 out of 5 from thousands of reviews across Google Play and Apple’s App Store, it’s as user-friendly as they come.
The Wise Multi-Currency Account lets you hold and convert funds in 40 currencies. You get the mid-market rate when you exchange currencies, and it's easy to send payments to recipients all over the world. You also get local bank account details in 9 different currencies so you can receive international payments, while you can use your Wise card to spend in more than 160 countries.
Easy to open and manage your account online and via the app
Get the mid market exchange rate
Convert to 40 currencies
Get local bank account details in up to 9 currencies
No physical branches
Watch out for transfer fees
Min. Age
N/A
Account Fee
$0
5. motusbank
motusbank is an online-only bank owned by Meridian Credit Union. Launched in 2018, it offers savings and chequing accounts as well as investments, mortgages and HELOCs.
The motusbank No Fee Chequing Account supports unlimited free Interac e-Transfers as well as bill payments, debits and withdrawals, there’s no minimum balance requirement either, and it’s easy to manage your account via mobile and online banking.
When you open a motusbank High Interest Savings Account, you can earn 0.95% interest without having to pay any monthly fees. There's no minimum balance required to earn interest, it's easy to access your money when needed, and you also get the peace of mind provided by up to $100,000 of CDIC protection.
Competitive interest rate
No monthly fees
Unlimited debit purchases and withdrawals
Fee-free access to over 43,000 ATMs in North America
No physical bank branches
Higher rates available from other providers
Min. Age
18
Account Fee
$0
Transaction Fee
unlimited
Interac e-Transfer Fee
N/A
6. Neo Financial
Neo Financial is a Canadian fintech that has offered an alternative digital banking solution since 2019. It provides a hybrid chequing/savings account, credit cards, mortgages and actively managed investment portfolios.
Neo Money offers access to a high-interest savings account with no monthly fees, and the Neo Money prepaid Mastercard provides easy access to your funds. You can also earn cash back at a wide range of partner retailers, plus track your spending through a mobile app and get personalized insights from Neo AI.
The app itself scores an average rating of 4.8 out of 5 from over 25,000 iOS users, so Neo Financial is another solid option if you’re searching for the best alternatives to Chime in Canada.
Neo Money offers a high-interest savings account that pays 3% interest on your balance. But you can also withdraw your money at any time, and use your prepaid Neo Money Mastercard to make free everyday transactions. Even better, you earn cash back when you shop at thousands of Neo partners, with up to 5% cash back available at some partners..
Competitive savings interest rate
Earn cash back across multiple spending categories
Easy to track your spending and cash back through the app
No monthly fee
You'll need to upgrade to a paid plan to earn more cash back and access all features
No Physical branches
Min. Age
N/A
Account Fee
$0
Transaction Fee
$0
Interac e-Transfer Fee
$0
7. Tangerine Bank
Tangerine Bank is a wholly-owned subsidiary of The Bank of Nova Scotia and first started life in Canada as ING Direct. This online bank offers a wide range of personal and business banking products across Canada, including savings accounts, TFSAs, RRSPs, credit cards and more.
Its No-Fee Daily Chequing Account offers fee-free everyday banking and access to over 3,500 Scotiabank ABMs across Canada. Meanwhile, Tangerine’s World Mastercard lets you earn up to 2% cash back in selected spending categories and provides access to Mastercard Travel Rewards.
The Tangerine Savings Account pays 0.3% interest on every dollar you deposit in your account. There's no monthly fee and no minimum balance requirement, while it's easy to manage your account online or via the Tangerine mobile app. You can also automate your savings by setting up a regular deposit to your savings account.
Easy to open and manage your account
No fees on everyday banking
No minimum balance requirement
CDIC coverage
Other accounts have higher interest rates
No physical branches
Min. Age
16
Account Fee
$0
Transaction Fee
$0
Interac e-Transfer Fee
N/A
What is Chime?
Chime is a fintech company that offers a range of no-fee banking services to its customers. Its products include a chequing account with no monthly fees, a high-interest savings account and a secured credit card.
Chime also offers a fee-free overdraft facility known as SpotMe, which provides up to $200 of overdraft protection for debit card purchases and cash withdrawals, and offers early access to your paycheque when you get it direct deposited into your account.
You can manage your account through the Chime mobile banking app. Available for iOS and Android devices, the intuitive app has been downloaded millions of times.
Chime was launched in 2014 and is headquartered in San Francisco, California, USA.
Chime is only available in the United States, which means you need to be a US resident to sign up for Chime. If you’re a Canadian resident who is interested in signing up for Chime, you’ll have to consider these alternatives instead.
Does Chime work in Canada?
Yes, if you have a Chime debit card from the US, you can use it anywhere in Canada where Visa is accepted. For reference, almost all retailers in Canada accept Visa. Keep in mind that you’ll need to enable international transactions on the Chime app before travelling to Canada.
Can you get the Chime credit card in Canada?
Although Chime offers a credit card to US residents, it does not offer a credit card in Canada. Chime’s credit card is designed to help build credit history and does not require a credit check when applying.
Chime is not a bank but a financial technology company. Its banking services are provided by The Bancorp Bank or Stride Bank, both of which are Federal Deposit Insurance Corporation insured.
But while it’s not a bank, Chime does provide access to the sort of products and services you’d expect from a traditional bank, including chequing and savings accounts.
Can you download the Chime app in Canada?
No, the Chime app is only available for download on the US versions of the Apple App and Google Play stores. That said, there are several highly-rated banking apps offered by banks in Canada with similar features. For example, both EQ Bank and Simplii’s mobile apps have very high user ratings.
What to consider when choosing an alternative to Chime in Canada
More and more people in Canada are turning to digital banking instead of brick-and-mortar financial institutions. In fact, over 4 million Canadians currently use a digital bank, and this is expected to grow to over 4.9 million people by 2028. Ready to join the crowd? Keep these factors in mind when comparing online banking alternatives to Chime:
Low fees. Digital banks stand out from traditional banks for offering low (or no) fees, unlimited free transactions and no minimum balance requirements. But that doesn’t mean digital banking is entirely free. Watch out for foreign transaction fee, NSF fees and other costs.
Interest rates. Another edge online banks have over the Big Banks is higher interest rates. You may be able to grow your money even faster with a new bank account offer. Just make sure you’re aware of the ongoign rates and fees that apply when the promotional period ends.
Customer service. If you prefer in-person customer support, visiting a local bank branch might be better than committing to fully online banking. But, with all its perks, digital banking might be better if you’re content with support via phone, live chat and/or email. Look at online reviews to see if customers are satisfied with the service their banks offer.
Money transfers. What are your options for sending and receiving money? Are Interac e-Transfers free? Most traditional banks support wire transfers, cheques and money orders, if you these are your preferred transfer methods. But digital banks may not offer these options.
Account protection. Canadian banks are federally regulated by the Office of the Superintendent of Financial Institutions (OSFI), and many banks insure customer deposits through the Canada Deposit Insurance Corporation (CDIC). Look for a regulated bank that uses security measures like encryption, multi-factor authentication and automatic timeouts to safeguard your money and data.
How do digital banks and traditional banks compare for Canadians?
Like Chime, there are many alternative banking options in Canada that compete with the traditional Big Banks, and we wanted to know how Canadians felt about all of these different options.
In our recent Finder: Consumer Sentiment Survey January 2025, we asked Canadians what type of financial providers they would consider opening an account with among the Big 5 Banks (RBC, TD, BMO, Scotiabank and CIBC), other brick-and-mortar banks (e.g. National Bank, ATB or CWB), digital banks or fintechs (e.g. Tangerine, Simplii Financial, EQ Bank or KOHO) and credit unions (e.g. Coast Capital, Meridian, Vancity or Alterna).
It turns out, that nearly half of Canadians (48.25%) would consider opening an account with digital banks and fintechs, similar to Chime.
Frequently asked questions about Chime in Canada
The CDIC is a federal Crown corporation that provides insurance for deposits at eligible banks and financial institutions. If you open an account with a CDIC member, up to $100,000 you deposit will be covered if your financial institution fails.
The key factor you need to be aware of with an online-only bank is that you'll need to access customer support online or over the phone. If you prefer face-to-face transactions, you may want to consider a bank with a large branch network.
A digital bank may also not be able to provide fee-free access to as large an ATM network as a traditional bank, and they tend not to offer the same extensive range of banking products and services as traditional banks. Find out more in our guide to digital banking in Canada.
Yes. Chime offers a secured visa credit card for US customers. You won't need to undergo a credit check to apply and there are no annual fees or interest to worry about. Chime also reports your payments to TransUnion, Equifax and Experian to help you improve your credit score.
To sign up for Chime you will need to be a citizen or resident of the USA. You'll also need to be 18 years of age or older and have a valid Social Security Number.
Chime offers fee-free withdrawals from a network of over 60,000 ATMs across the USA — use the Chime app to locate your nearest ATM. But if you withdraw money from a non-network ATM, a $2.50 fee applies.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio
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