How to Overdraft $200 on Chime – A Comprehensive Guide

If you’re looking to overdraft $200 on Chime, you’re not alone. Many people find themselves in need of a little extra cash from time to time, and Chime has made it easy to do so.

In this article, we’ll walk you through the process of overdrafting $200 on Chime, step by step. We’ll cover everything from how to set up overdraft protection to how to avoid fees. So, let’s get started!

How to Overdraft $200 on Chime

Chime offers two different types of overdraft protection: SpotMe and Courtesy Pay. SpotMe lets you overdraft up to $200 without any fees, while Courtesy Pay allows you to overdraft up to $1000 with a fee.

To overdraft $200 on Chime, follow these steps:

1. Open the Chime app on your phone.
2. Click on the "Settings" tab.
3. Scroll down and select "Overdraft."
4. Turn on SpotMe by sliding the toggle to the right.
5. Confirm that you want to enable SpotMe by clicking "Activate."
6. Go to your account balance and ensure that SpotMe is enabled.
7. Make a purchase or a withdrawal that exceeds your available balance, up to $200.
8. Chime will cover the overdraft and deduct it from your next deposit.

That’s it! You’ve successfully overdrafted $200 on Chime using SpotMe.

How to Avoid Fees

If you use Courtesy Pay, you’ll be charged a fee for each overdraft transaction. To avoid these fees, we recommend using SpotMe instead.

SpotMe allows you to overdraft up to $200 without any fees, as long as you pay it back within 24 hours. If you can’t pay it back within 24 hours, you’ll be charged a fee of $2.50 for every $100 you overdraft.

So, if you overdraft $200 and can’t pay it back within 24 hours, you’ll be charged a fee of $5.00. But if you can pay it back within 24 hours, you won’t be charged any fees at all.

FAQ

What is SpotMe?

SpotMe is Chime’s overdraft protection program. It allows you to overdraft up to $200 without any fees, as long as you pay it back within 24 hours.

What is Courtesy Pay?

Courtesy Pay is Chime’s other overdraft protection program. It allows you to overdraft up to $1000 with a fee.

Can I choose which overdraft protection program to use?

Yes, you can choose whether to use SpotMe or Courtesy Pay. You can enable or disable them in the Chime app settings.

Key Takeaways

• Chime offers two types of overdraft protection: SpotMe and Courtesy Pay.
• SpotMe lets you overdraft up to $200 without any fees, as long as you pay it back within 24 hours.
• Courtesy Pay allows you to overdraft up to $1000 with a fee.
• To avoid fees, we recommend using SpotMe instead of Courtesy Pay.
• To overdraft $200 on Chime using SpotMe, follow the steps outlined in this article.

Conclusion

Overdrafting $200 on Chime is easy with SpotMe. Just follow the steps outlined in this article, and you’ll be able to cover your expenses without any fees. Remember to pay back the overdraft within 24 hours to avoid any fees, and consider using SpotMe instead of Courtesy Pay to save even more money.

Good luck, and happy banking!