25,000 points (via Rakuten) or $300 (via TopCashBack) with new Chime account via portals

Shopping portal Rakuten is currently offering $250 back or 25,000 points (which you could be taking as either Amex Membership Rewards Points or Bilt points) with a new Chime account after receiving two qualifying direct deposits. That can be a terrific deal if you’re collecting points. If you’d prefer cash back, Top Cash Back is currently offering $300 back with a new Chime account.

The Deal

• Shopping portals are currently featuring increased rates for opening a Chime account. Note that Chime is an online banking account similar to a checking account.
  • Rakuten is offering $250 back / 25,000 Amex Membership Rewards points / 25,000 Bilt points
  • TopCashBack is offering $300 back

Key Terms

From Rakuten:

• Must be a new Chime member, set up payroll direct deposit, and receive your first paycheck within 30 days of signup.
• Must make a minimum first payroll deposit of $200 to qualify.
• The qualifying direct deposit must be made by the individual’s employer, payroll provider, or benefits payer by Automated Clearing House (ACH) deposit.
• Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
• See offer landing page for full terms

From TopCashBack:

• To be eligible to receive $300.00 cash back (the “Promotional Reward”) into your TopCashback account, you must: 1) have an open TopCashback account; 2) must navigate to the Chime enrollment flow from the TopCashback webpage using the applicable sign up link and open a Chime Checking Account (“Account”); and 3) receive a Qualifying Direct Deposit to the Account within 30 days of signup.
• A Qualifying Direct Deposit is a deposit of $200 or more by Automated Clearing House (“ACH”) that comes from your employer, payroll provider, gig economy payer, or benefits payer OR a deposit by Original Credit Transaction (“OCT”) from your gig economy payer.
• Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions and any deposit to which Chime deems to not be a Qualifying Direct Deposit.
• Eligible participants may only receive this Promotional Reward once.
• TopCashback is responsible for this promotion, these terms and conditions, and for the fulfillment of the Promotional Reward.
• By participating in this promotion, you consent to Chime notifying TopCashback that you have opened an Account and received a Qualifying Direct Deposit.
• TopCashback reserves the right to cancel or modify the promotion terms or terminate the participant’s eligibility at any time with or without prior notice. In the event that you have issues with this promotion, please contact TopCashback via the support center.
• Cash back will not track until the above conditions including valid direct deposit have been completed
• Please note: At this time claims are not accepted
• See landing page for full terms

Quick Thoughts

Chime is a Financial Technology company (FinTech), not a bank. Your money with Chime is actually held by participating banks (see the terms for details). However, for everyday purposes, a Chime account functions similarly to a checking account in that you get a debit card and can make ACH transactions.

The bonus here is low-hanging fruit for anyone able ot meet the direct deposit requirements, which have been relatively easy to meet in the past.

It is worth noting that we have sometimes seen better deals, like when Tim wrote about Inbox Dollars offering $540 back with a Chime account last year (since expired). Still, if you’re in the market for some more points through Rakuten and you can meet the terms for this offer easily, it could be an easy win.

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