Chime vs Peak Bank
The two banks compared as banks: the charter, branches, checking, the other products they offer, their apps and their deposit rates. Each fact has its source and the date it was confirmed.
Choose Chime or Peak Bank
Choose Chime if
- You want a checking account from the same bank. Peak Bank does not offer one.
- You want a credit card from the same bank. Peak Bank does not offer one.
- You want an investment account from the same bank. Peak Bank does not offer one.
Choose Peak Bank if
- You want CDs. Banksparency tracks no CD at Chime.
- The savings rate matters most. Peak Bank advertises the higher savings APY.
Chime and Peak Bank compared
| Field | Chime | Peak Bank |
|---|---|---|
| What each bank offers | ||
| Savings account | YesBanksparency rate data | YesBanksparency rate data |
| CDs | None trackedBanksparency rate data | YesBanksparency rate data |
| Money market account | None trackedBanksparency rate data | None trackedBanksparency rate data |
| Checking account | YesBank site, confirmed Sep 27, 2026 | No, Idaho First Bank sells checking accounts under its own nameBank site, confirmed Sep 27, 2026 |
| Credit cards | YesBank site, confirmed Sep 27, 2026 | No, Idaho First Bank sells credit cards under its own nameBank site, confirmed Sep 27, 2026 |
| Personal loans | Small loans only ($100 to $2,000, for select members)Bank site, confirmed Sep 27, 2026 | Not statedBank site, confirmed Sep 27, 2026 |
| Mortgages | NoBank site, confirmed Sep 27, 2026 | No, Idaho First Bank sells mortgages under its own nameBank site, confirmed Sep 27, 2026 |
| Investing | YesBank site, confirmed Sep 27, 2026 | NoBank site, confirmed Sep 27, 2026 |
| Deposit rates | ||
| Best savings APY | 4.00% APYAdvertised, newest reading Nov 7, 2026 | 4.27% APYAdvertised, newest reading Nov 11, 2026 |
| Best CD APY | None listed | 3.69% APY, 12 monthsAdvertised, newest reading Nov 11, 2026 |
| Checking | ||
| Account compared | Chime Checking AccountBank site, confirmed Sep 27, 2026 | No checking account |
| Monthly fee | NoneBank site, confirmed Sep 27, 2026 | No checking account |
| How to avoid the fee | No fee to avoidBank site, confirmed Sep 27, 2026 | No checking account |
| Overdraft fee | NoneBank site, confirmed Sep 27, 2026 | No checking account |
| Zelle | NoBank site, confirmed Sep 27, 2026 | Not statedBank site, confirmed Sep 27, 2026 |
| Branches and ATMs | ||
| Branches | No branchesBank site, confirmed Sep 27, 2026 | No branchesBank site, confirmed Sep 27, 2026 |
| Fee-free ATMs | MoneyPass (in 7-Eleven), Allpoint and Visa Plus Alliance, 47,000+Bank site, confirmed Sep 27, 2026 | No checking account |
| Other banks' ATM fees | Not statedBank site, confirmed Sep 27, 2026 | No checking account |
| Apps | ||
| App Store rating | 4.8 of 5Store listing, confirmed Sep 27, 2026 | 4.7 of 5Store listing, confirmed Sep 27, 2026 |
| Google Play rating | 4.7 of 5Store listing, confirmed Sep 27, 2026 | 4.5 of 5Store listing, confirmed Sep 27, 2026 |
| The bank behind it | ||
| Charter | Not a bank. Deposits are held at The Bancorp Bank, N.A.; Stride Bank, N.A.Bank site, confirmed Sep 27, 2026 | Idaho · the charter, Idaho First Bank, is one of 10 insured banks chartered thereFDIC call report, Q2 2026 |
| Size | No FDIC filing | Not shown: the figure describes the charter, Idaho First Bank |
| Deposit growth | No FDIC filing | Not shown: the figure describes the charter, Idaho First Bank |
“Not stated” means the bank’s own pages say nothing that answers the question. “Not confirmed yet” means no one has confirmed the fact against its source.
How each bank has moved its rates
Banksparency reads each bank’s rates every day. A bank that cuts often, or lets a promotion lapse to a lower rate, costs more over a year than its rate today shows.
Chime
- Chime High-Yield Savings Account: 2 rate changes since Jan 21, 2026, 2 raises.The last was on Oct 6, 2026, up 0.25 points.
Peak Bank
- Envision High Yield Savings: 4 rate changes since Jan 21, 2026, 1 cut and 3 raises.The last was on Oct 2, 2026, up 0.26 points.
- 12-month CD, the highest CD rate: one rate change since Jan 21, 2026, 1 raise.The last was on Apr 1, 2026, up 0.18 points.
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
Chime
Chime is not a bank and files no call report. Its deposits are held at partner banks.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Peak Bank
The two figures answer different questions, so they sit side by side and are not combined. The 4.27% applies to balances under $500,000. A larger balance earns 3.40% on the whole amount.
In Q2 2026, Idaho First Bank paid a higher average rate on savings and money market deposits than 98% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
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