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Chime Adds Cash-Back Feature to Debit, Credit Cards

Chime has partnered with Upside to launch a fee-free cash-back feature.

The new Chime Deals allows Chime members to take advantage of cash-back opportunities on everyday spending on things like gas, groceries and dining, the company said in a Monday (March 4) press release.

These offers are available at more than 30,000 locations nationwide and can be accessed with the member’s Chime Visa Debit Card or Chime Credit Builder Secured Visa Credit Card, according to the release.

“With more than [1 million] 5-star reviews for the Chime app, we know our members appreciate simple and convenient ways to manage their money,” Madhu Muthukumar, chief product officer at Chime, said in the release. “Now members can put more money back in their pocket by earning cash back on everyday purchases without the hassle of using additional apps, linking cards or submitting receipts.”

Members can find the locations making these offers by clicking “Chime Deals” on the home screen of the Chime app, the release said. When they do so, members will see an in-app map showing nearby deals.

The member can then activate the deal within the same window, redeem the deal within four hours by tapping or swiping their physical Chime card at the retailer’s location, and then see the cash back deposited in their checking account, per the release.

The cash shows up in the member’s Chime checking account within 10 days, according to a Monday blog post on the company’s website.

“Chime Deals helps Chime members get cash back at retailers they use every day,” the blog post said. “Go about your daily routine as usual, swipe or tap any of your Chime cards (credit or debit) to pay for everyday purchases, and see a little return along the way.”

Chime is among the FinTech firms that are disrupting the banking and payment services by offering fee-free checking accounts, high-yield savings accounts and mobile banking apps, PYMNTS reported Monday.

They also offer features such as early direct deposit, automatic savings tools and real-time transaction alerts, attracting millennials and Gen Z customers who value simplicity, convenience and financial transparency.