Comparing an app-only checking account to a member-bundled bank? Here’s how RMO Bank’s MyEveryday Checking stacks up against Chime on account model, branches, FDIC insurance, and ecosystem.
Both keep the everyday fee at $0 — the real difference is the model behind the account.
Both RMO MyEveryday Checking and Chime keep the everyday checking fee at $0. RMO is a membership-based bank with retail centers and a wider ecosystem; Chime is a branchless, app-only model. Membership fees may apply on the RMO side; see membership.
RMO MyEveryday Checking vs. Chime on account model, branches, and ecosystem.
| Feature | RMO MyEveryday | Chime |
|---|---|---|
| Monthly maintenance fee | $0, no waiver | No monthly fee |
| Provider type | Membership-based bank (via Partner Banks) | Branchless financial-technology company |
| Branch network | RMO retail centers | App-only, no physical branches |
| ATM network | Nationwide network (in-network ATMs) | Partner ATM network |
| Checking tiers | Four tiers, incl. MySecure second-chance option | Single mobile checking account |
| Online & mobile banking | MyRMO digital banking with bill pay & check deposit | Mobile-first app |
| Member-to-member transfers | RMOPay built in — no separate signup | In-app person-to-person transfers |
| Bundled benefits | Protection, insurance, roadside, payments under one membership | Standalone account — no cross-division bundle |
| FDIC insurance | Yes — up to $250K per depositor | Yes — via partner banks, up to $250K per depositor |
Comparison describes each provider’s generally available model for context. See RMO Bank account agreements and Chime’s account disclosures for complete fees, terms, and conditions.
Chime is a streamlined app-only experience; RMO is a bundled bank with retail centers. Here’s how each tends to win.
Become an RMO member and open MyEveryday Checking online in minutes.
Update your employer’s direct deposit and any merchant auto-pays to point at the new RMO account.
Once a full pay cycle has cleared at RMO, close the Chime account.
Both keep the everyday checking fee at $0. RMO MyEveryday Checking has a $0 monthly fee with no waiver requirements, and Chime is known for a mobile-first checking account with no monthly fee. The real difference is the model, not the fee: RMO is a membership-based bank with retail centers, while Chime is a branchless financial-technology company.
No. Chime is a branchless financial-technology company; banking services are provided through partner banks, and the experience is mobile-first with no physical branches. RMO operates retail centers in addition to MyRMO digital banking, so you have both an app and in-person options.
RMO is membership-based: a single membership bundles RMO Bank checking, savings, CDs, and money market accounts with RMO’s other divisions — protection, insurance, roadside, payments, and more. Chime offers a standalone mobile checking account; RMO checking is part of a wider member ecosystem.
Yes. To switch from Chime to RMO, open the new RMO account first, then update your direct deposit (employer) and any auto-pay merchants to point at the new account. Most institutions complete the switch in 1–2 pay periods. Once direct deposits and auto-pays are flowing to RMO, close the Chime account.
Yes. RMO Bank deposit accounts are FDIC-insured through Partner Banks (Members FDIC) up to applicable limits ($250,000 per depositor, per insured bank, per ownership category). Chime is not a bank; its banking services are provided through partner banks, and FDIC insurance is provided through those partner banks.
Become an RMO member and open MyEveryday or one of the four checking tiers. FDIC-insured, $0 monthly fee on the entry tier, no waiver hoops.
