As Chime makes stimulus advances available to more customers, it could become a potent customer acquisition tool
to aid customers, and consumers widely may seek the safety of more established institutions.
However, laying down its own money without strong leverage to guarantee repayment is a big risk for the neobank. With 100,000 customers capable of receiving an advance of up to $200, Chime is putting up to $20 million of its own capital on the line. Furthermore, those $200 advances don't count as loans, and Chime doesn't report delinquencies to credit bureaus, leaving it very little leverage if the advances aren't paid back.
That said, its eligibility requirements will help elevate the chances that, when customers get their actual stimulus checks, they will funnel them into their Chime accounts, paying off any advance they may have used.
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