Yes, you can have multiple savings accounts with Chime

Chime lets you open more than one savings account on the same Chime checking account. You can create up to 10 savings accounts total, each with its own balance and name. This means you can separate money by purpose — one for emergencies, one for a vacation, one for a car down payment — without moving between different banks or managing multiple logins.

Each savings account earns the same interest rate and has no monthly fee. The accounts are linked to your single Chime checking account, so deposits and transfers between them happen instantly. You control which account receives your direct deposit, or you can split your paycheck across multiple accounts automatically.

Key Takeaways

  • Chime allows up to 10 savings accounts on one checking account, each with a separate balance and custom name.
  • All Chime savings accounts earn the same interest rate with no monthly maintenance fees.
  • You can set up automatic transfers between your savings accounts and checking account instantly through the Chime app.
  • Direct deposit can be split across multiple savings accounts, so money goes where you want it without manual transfers.
  • Each savings account is FDIC insured up to $250,000, so your total protection across all 10 accounts is $2.5 million.

How to create a second or third savings account

Open the Chime app and tap the savings tab at the bottom of the screen. Select "Create a Savings Account" or the plus icon. Name the account (for example, "Emergency Fund" or "Vacation 2025") and choose whether to link it to your checking account. Confirm, and the account opens immediately with a $0 balance.

You can create all 10 accounts this way, one at a time. Each one shows up as a separate tile in your savings tab, so you can see all balances at a glance. Naming them clearly helps you remember what each account is for and makes it easier to move money to the right place.

Moving money between your Chime accounts

Transfers between your Chime savings accounts and checking account are instant and free. Tap the account you want to transfer from, select "Transfer," choose the destination account, enter the amount, and confirm. The money appears in the other account immediately — there is no waiting period or processing time.

You can also set up automatic transfers on a schedule. In the app, go to the account, tap the menu, and select "Recurring Transfers." Choose the frequency (weekly, biweekly, monthly), the amount, and which account to transfer to. This works well if you want to move a fixed amount to your emergency fund every payday without thinking about it.

Splitting your direct deposit across multiple accounts

When you set up direct deposit with your employer, you can direct a portion of your paycheck to each savings account. You will need your Chime routing number and account numbers for each savings account you want to use. Most employers allow you to split a paycheck into up to three accounts, though some allow more.

To find your account numbers, open the Chime app, tap the account you want, select the menu, and choose "Account Details." Copy the account number shown there. Give your employer the routing number (the same for all Chime accounts) and the specific account number for each savings account where you want money to land. Changes usually take effect on your next paycheck.

FDIC insurance across multiple savings accounts

Each Chime savings account is FDIC insured separately up to $250,000. This means if you have 10 savings accounts with $250,000 in each, all $2.5 million is protected if Chime fails. Your checking account is also insured separately for up to $250,000. The insurance covers the account holder (you) at that specific bank, so multiple accounts in your name at Chime all count toward separate limits.

This protection is automatic — you do not need to do anything. Chime holds the FDIC insurance through its partner banks (Stride Bank and Chime Financial Technology, depending on your account type). If you have questions about your specific coverage, Chime's support team can confirm the details of your accounts.

When multiple accounts make sense

Multiple savings accounts work best when you have distinct financial goals with different timelines. An emergency fund (money you might need in the next month) can sit in one account while a down payment fund (money you will not touch for two years) sits in another. This separation makes it harder to accidentally spend money you set aside for something specific.

Multiple accounts also help if you receive income from different sources and want to track each one separately. A freelancer might have one account for client payments and another for business expenses reimbursements. Parents might create separate accounts for each child's college fund or gift money. The naming feature makes it easy to see at a glance where your money is and what it is for.

Limits and things to know

You can have up to 10 savings accounts, but you cannot have more than one checking account with Chime. If you need a second checking account, you would need to open it at a different bank. All your savings accounts must be linked to your single Chime checking account — you cannot have a savings account that stands alone.

Interest rates are the same across all your savings accounts, so there is no advantage to spreading money across multiple accounts to earn more. The rate Chime offers changes over time and is published on their website. Transfers between accounts are instant and free, but transfers to accounts at other banks follow standard ACH timelines (one to three business days).

Frequently Asked Questions

Do I need separate logins for each savings account?

No. All your Chime accounts — checking and all savings accounts — use the same login. You see all of them in one app and switch between them by tapping the account name or icon. This makes it easy to move money around without logging in and out.

Can I close a savings account without closing my checking account?

Yes. In the Chime app, go to the savings account you want to close, tap the menu, and select "Close Account." You must transfer any balance to another account first. Closing one savings account does not affect your checking account or your other savings accounts.

What happens if I exceed the 10-account limit?

Chime will not let you create an 11th account. If you need more than 10 separate savings goals, you would need to combine some accounts or use a different bank. Most people find 10 accounts more than enough for their needs.

Can someone else access my savings accounts?

Only if you give them access to your Chime login. Chime does not offer joint accounts or authorized user features like some traditional banks do. If you want someone else to manage money in a savings account, you would need to share your login credentials, which is not recommended for security reasons.

Do savings accounts earn interest if I keep moving money in and out?

Yes. Interest accrues daily on your balance, regardless of how often you transfer money. There is no penalty for moving money between your own accounts, and transfers do not reset the interest calculation. The interest rate Chime offers is typically lower than some online banks, so compare rates if maximizing interest is your priority.