Split Your Pay is a feature that lets you divide your direct deposit (DD) between your Savings, Credit Builder, and Checking Accounts. You set the percentages, and Split Your Pay ensures your money is transferred seamlessly when your DD is deposited—no manual transfers required!
This feature gives you greater control over your money, making saving and budgeting simple. With no minimum DD amount required, Split Your Pay works for large or small direct deposits.
You can access Split Your Pay on the Chime app by going to Settings > Direct deposit setup or Savings > Automatic Savings.
How does Split Your Pay work?
- Customizable allocations: Choose what percentage of your DD goes to each account—Savings, Credit Builder, or Checking.
- Automatic transfers: Your money is moved automatically based on the percentages you set.
- Flexible updates: Adjust your allocations anytime in the Chime app.
What if I have outstanding balances with Chime?
If you have outstanding balances from SpotMe, Instant Loans, or MyPay, those amounts will be repaid first. The remaining funds from your direct deposit will then be split based on your Split Your Pay settings.
For example, a SpotMe repayment of $20 will come out of the direct deposit before the money is split between your accounts.
Repayments are processed in this order:
- SpotMe balances
- Instant Loan payments
- MyPay repayments
- Split Your Pay allocations
This makes sure your outstanding balances are repaid before your funds are divided into your accounts.