Chime

Chime leads as the largest US neobank at a $25 billion valuation, serving 22 million customers with zero fees—a model 40% cheaper than the average traditional bank for underserved Americans. Founded in 2012, its SpotMe overdraft covers up to $200 without fees, achieving primary-banking loyalty at 3x the rate of #3 Klarna’s BNPL users. By targeting 60 million underbanked consumers, Chime generates $1.5 billion in annual revenue from interchange, a 20% higher margin than typical rivals. This customer-first approach has reduced account churn to under 5%, beating the industry average by 15 percentage points.