Lauren Saunders of the National Consumer Law Center said:įor a company that most people have never heard of, I think that’s a lot of complaints. Moreover, Chime’s problem resolution response is slow. Of those, several hundred complaints detail problems with accounts being closed against customers’ will or difficulty accessing their accounts or money. Since April 15, 2020, dissatisfied customers filed 920 grievances against the “neobank ” which averages out to 2.1 per day. However, in the past year, the Consumer Financial Protection Bureau (CFPB) received an inordinately large number of complaints about the app’s services, reports ProPublica on July 6, 2021.
The app-based financial technology company currently serves an estimated 12 million members. Even though Chime is not a bank, it claims to be redefining traditional banking and targets consumers looking for the ease the app promises.
