Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #7839151
Complaint Overview
Complaint ID: 7839151
Company: Chime Financial INC
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Problem with a lender or other company charging your account
Sub-Issue: Transaction was not authorized
State: Colorado
ZIP Code: XXXXX
Date Received: 2023-11-11T12:00:00-05:00
Date Sent to Company: 2023-11-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The Chime Credit Builder account mimics a personal checking account but acts as a credit account in the name of building credit. Chime charges transactions as a credit transaction, but they will only authorize the transaction if I have the funds prepaid in the account balance and they immediately seize the funds and hold them until they " pay off '' the account each month. Reg E provisional credits are required to protect personal account funds due to unauthorized access to a consumer 's funds. Chime says my Credit Builder transactions do not qualify for a provisional credit under Reg E because it's a Credit transaction/loan. My major point of contention is that I called Chime and reported possible account breach and unauthorized access within a few hours of my phone being stolen. I reported the fraudsters had access to my telephone numbers and my email and the Chime app on my phone. Chime failed to take appropriate action and freeze the account and allowed fraudsters to log into the account, make transfers within the account, and allowed 16 charges over 3 days before they finally appropriately froze the account only at my insistence after I spent 3 hours 20 minutes on the phone with 7 representatives because I refused to get off the phone until they fully stopped all transactions and activity. Had I not been so insistent, more fraud would have happened with my personal funds. So we have a situation where Chime allowed the fraud after I reported it and they kept just under {$350.00} of my personal funds on deposit with them and are advising me that I may not see my money until XX/XX/XXXX ( XXXX months ) when the investigation concludes. I take exception to Chime taking advantage of me and holding my personal money while they investigate charges that were their mistake to allow.
Frequently Asked Questions
What is Complaint #7839151 about?
Complaint #7839151 was filed against Chime Financial INC regarding Checking or savings account specifically about Problem with a lender or other company charging your account. It was received by the CFPB on 2023-11-11T12:00:00-05:00.
How did Chime Financial INC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Chime Financial INC?
Yes, visit the Chime Financial INC company profile at readthecomplaint.com/company/chime-financial-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.