Chime may owe you up to $150 if you closed your account after Jan. 1, 2018

Chime, a popular fintech company, is in hot water with the Consumer Financial Protection Bureau for failing to refund customers in a timely manner after they closed their checking or savings accounts. Thousands of customers had to wait months to receive their remaining balances, causing financial hardship for many.

As a result, Chime has been ordered to pay $4.5 million in penalties and refunds to affected customers. If you closed a Chime account after Jan. 1, 2018, and did not receive your remaining balance within 14 days, you may be entitled to a refund of up to $150.

To protect yourself from future banking woes, financial experts recommend having emergency savings at a separate bank and creating a budget to save for unforeseen circumstances. It’s important to have a financial safety net in place to avoid being caught off guard by unexpected delays or issues with your bank.

If you believe you are owed a refund from Chime, be sure to update your mailing address with the company and keep an eye out for communication regarding the refund process. It’s essential to stay informed and proactive when it comes to managing your finances and protecting your money.