If you miss an Instant Loan payment and have Autopay turned on, Chime will automatically try to pay the missed payment from your Chime Checking Account when a new deposit is received.
Here’s how it works:
- On your scheduled payment date, Chime will try to pay the full amount due for that billing cycle.
- If your account doesn’t have enough funds, Chime will make up to two more attempts later that month—but only after a new deposit is made.
These retry attempts can be triggered by any deposit, including:
- Direct deposits (e.g., paychecks, government benefits)
- Tax refunds
- External transfers from other banks
- Trial deposits used for account verification
- Peer-to-peer payments (e.g., Pay Anyone, Cash App, Venmo)
Important: If you're behind on payments, we’ll only try to pay if a new deposit is large enough to fully cover the oldest missed payment.
Example:
- If you’ve missed three payments of $35 and receive a $40 deposit, we’ll try to pay $35 toward the oldest missed payment.
- If the deposit is only $20, we won’t try to pay anything, since it isn’t enough to fully cover any single payment.
Instant Loans are made by The Bancorp Bank, N.A.