Consumer complaint received 2025-01-29 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Was approved for a loan, but didn't receive the money — 
Company: Chime Financial Inc
State: NC

Complaint narrative:
Chime has a feature called MyPay. MyPay is a cash advance option given based on your income. The amount you can advance usually starts at {$100.00} the fist month and will increase going forward one your income is re-evaluated. I originally was offered {$100.00} and it was repaid out of my next deposit. Going forward the amount increased every month until I reached the max of {$500.00} last month. This is where the deception started. This month my direct deposit went into my account and Chime was repaid their {$500.00} I was advanced in XXXX. After they were repaid the MyPay advance amount changed to {$300.00} which I understand because my income decreased however out of the {$300.00} I was offered I was only allowed to access {$25.00} on the fist day. The 2nd day I was only offered {$13.00} which doesn't even make sense because they have a {$20.00} minimum for their MyPay advance. Their terms for MyPay states that on day ONE of the advance being repaid they will allow you to access the amount equivalent to 2 days of the the deposit amount. In my case two days would be {$62.00} but I was only offered {$25.00}. Their system makes NO sense at all! in XXXX when the advance amountwas at {$300.00}, I was able to access {$200.00} on the first day. But somehow in XXXX I can only access {$25.00} of the {$300.00} advance offered, Their practices and calculations simply don't make sense at all. I have seen this same complaint online from at least XXXX of Chime 's customers and in almost every complaint, the issues start around month 3-4 of using MyPay. The fact that they repay themselves the full {$500.00} I used the month before, then offer {$300.00}, which I understand because of my pay decrease, but to then ONLY offer {$25.00} after they've repaid themselves {$500.00} without even a heads up actually puts their customers in a WORSE situation. They aren't even honoring their terms by allowing the 2 day worth of your income as your first withdrawal on day one of the repayment, is deceptive. After I repay this advance and and anything else I owe them, I am closing this account. I can't afford to repay {$500.00} and then only be able to get {$25.00}. Had they made it CLEAR that the daily amount accessible doesn't even equate to the {$20.00} minimum they require for an advance, I wouldn't have used it because I would have known this was a product that I wouldn't want to use. My regular account at the Credit Union allows a {$500.00} cash advance until your next payday however once you repay, you then have access to ALL of whatever amount they offer. No one can make a plan that works to pay their bills the next month when you have NO clue what Chime will allow you to access of the My Pay advance. It's a horrible, predatory product that they lure you into and then unexpectedly the everything changes and there is just no way of knowing what those changes will be. I know that their terms and conditions explain the advance amount can change based on income but it is NOT clear that the amount available each day changes. If you offer someone {$300.00} to use, let them use it especially since Chime has taken ALL that's owed to them. It doesn't help a customer to repay a {$500.00} loan and then offer them {$25.00} or {$13.00} a day until you get to {$300.00}. How does that help the customer?

Company response to consumer: Closed with explanation