What is the Cost to Build An App Like Chime?

If you’re wondering, ‘How much does it cost to build an app like Chime’, you are on the right blog. 

With the rise of digital banking, people are turning to this industry to find opportunities and make successful apps. 

This is where loan approval apps like Chime have revolutionized how people manage their money. 

But, creating an app like Chime isn’t about just coding some numbers, it’s about offering a seamless experience, ensuring top-notch security, and integrating features users love. 

This is what brings us to, the “What’s the price tag to create a neo-bank app like Chime?”

The cost to build a Chime-like app can range from $30,000 to $140,000+ based on different factors that we will get into detail in this blog. 

Whether you are a startup or an established business, understanding the Chime app development cost is your first step to bringing your fintech vision to life. 

Ready to dive deeper? Let’s break it down.

What is Chime?

Chime is a trailblazer in the Fintech world, offering a mobile-first banking experience that’s redefining how people handle their money. 

Unlike traditional banks, Chime operates entirely online, offering a mobile-first experience that’s fast, user-friendly and fee-free.

With fintech features like early deposits, automatic savings, and a credit builder tool, Chime has become a favorite for millions, It is designed to help users manage their money smarter, without the hassle of hidden fees or outdated systems. 

Since its launch, Chime has grown to over 13.5 million users, making it one of the most successful fintech apps in the US.

Its success lies in its simplicity, innovation, and focus on customer needs- qualities that make it a great model for anyone looking to build a mobile banking app like Chime. 

The app is currently available on both Android & iOS. So, you can download and try it for yourself. 

Now, coming to what makes Chime such a great inspiration for Fintech app development projects? Here’s the Key answer: 

• • As stated by Chim’s CEO, the company adds 20,000 new accounts every day. 
  • The demographic breakdown of Chime’s users reveals that 61.24% are female and 38.76% are male. 
  • Its primary marketing channels consist of 51.50% direct traffic and 26.74% organic search.
  • Chime boasts approximately 22 million customers, with 11 million of them utilizing Chime as their main account.
  • Chime generated a remarkable $2.15 billion in revenue for 2024, reflecting the ongoing growth of the platform.

Why Build an App like Chime in 2025?

If you’re planning to create a neobank app like Chime, there might be a lot of ifs and buts. 

Before we know about the cost to create an app like Chime, it’s important to have clarity, Let us give you the clarity to take the leap:

1. The Demand for Digital Banking is Skyrocketing 

As you know by 2025, the global digital banking market is expected to hit $30.1 bn. This shows people are ditching traditional banks for apps that offer convenience, speed, and innovation. 

Why not develop a fintech app like Chime and tap into this growing market? 

2. Early Deposits and No Fees are Game-Changers 

If you want to make an app like Chime, then learn from Chime. With 80% of users citing choosing this app for its early deposit feature, makes it a major draw. 

Offering no-fee banking can set your app apart in a crowded market. Now, imagine building a mobile banking app like Chime that users can’t stop raving about.

3. Credit-building tools are in High Demand

Over 45 million Americans have no credit score or have a poor one. 

This is where Chime’s credit builder features play a role in helping users improve their credit without the risk of overspending. 

Its cash advance tool, SpotMe, offers a fee-free overdraft ticking all the boxes of top cash advance apps. Including this in your app could make it a must-have for millions. 

4. Mobile Banking is the Future

Consumers in today’s banking landscape, especially millennials and Gen-z value a smooth banking experience. 

It is pretty clear that 65% of Americans use mobile banking apps, and the number is only growing. 

With the right banking features and user experience, your Chime-like solution can become an essential tool for their day-to-day life. 

So, these are some for Chime-like app development, now we’re right back to where you started- the cost to build an app like Chime. 

Cost to Develop a Mobile Banking App like Chime

So, What’s the cost of Chime-like app development?

The cost to develop a mobile banking app like Chime can be somewhere between $30,000 to $140,000+ which can fluctuate based on different elements. 

You might know when considering how much does it cost to create an app like Chime, factors like development team location, complexity, and technology stack play a significant role. 

This is why it’s a big challenge to analyze app development costs. 

Here’s a breakdown of the cost to make an app like Chime:

Just a glimpse of mobile banking app development cost. 

For further understanding, we are going to break down different factors to know the true estimate of the cost to create an app like Chime.

Factors Affecting the Cost to Create an App Like Chime

To build a neobank app like Chime, it is essential to comprehend the expenses and various elements that influence them. 

As cost is a combination of several factors coming together. To analyze the final price, you need to understand these factors. 

Now, let’s dive into the details: 

1] Feature of Your App

Talking about features, it is one of the most common factors affecting the cost to build an app like Chime. 

How? 

The complexity and number of features are what we are talking about. Suppose, you create an app with limited features, this might be cost-friendly. 

But, if you go for advanced features such as budgeting tools, mobile check deposits, or fraud detection, the cost to develop an app like Chime will go up.

2] UI/UX Design 

When it comes to the cost to create an app like Chime, design is also a factor to consider. 

Without any doubt, having a great design attracts users but it attracts a huge amount of expenses too. What you choose for your app wireframe and overall design will directly impact your budget.

From basic templates to animation, everything is designed but what you consider for your app determines your budget. 

The higher the level of design you opt for, the more it adds to the cost to create an app like Chime. 

3] Platform Selection

Once you have a mobile app idea, the tough call next up is to select a platform. 

Should go for Android app development services, iOS app development services, or both? This decision influences the overall cost to develop an app like Chime. 

For native development (Android & iOS), you’ll need separate teams for native apps or a cross-platform development approach.

This decision impacts the overall cost of developing an app like Chime, as making for both platforms requires more resources. 

4] App Security Factor

Planning to build a mobile banking app like Chime? App Security is a non-negotiable element. 

Financial apps handle the most sensitive data. 

This is where comes robust security measures including data encryption, 2 FA, and fraud detection systems, all these spike the total Chime-like app development cost but are important for ensuring user trust and regulatory compliance.

5] Development Team Location

Where your development team is based can make a huge difference in the overall cost to build an app like Chime. 

If you choose to hire a mobile app developer located in regions like the USA, or the UK, you might have to pay a bigger sum, while several other regions offer quality work without breaking the bank.

Refer to this table summarizing the hourly cost and what impact it has on Chime like app development cost.

6] Third-Party Integrations Factor

Third-party integration is key to a successful app. 

One might assume this adds to the overall Chime app development cost. Integrating third-party services such as payment gateways, KYC verification, & more to the overall cost to build an app like Chime.

Each third-party service typically comes with a subscription or licensing fee, depending on your use, it can increase the cost.

7] Tech Stack 

Choosing the right tech stack for your Chime clone app isn't just about picking tools- It can break or make the success of your app, both in terms of functionality and cost. 

The tech stack you go with determines how scalable, secure, and responsive your app will be, especially under huge traffic. 

If you go with cross-platform tools like Flutter or React Native, you can save a big part by building for Android & iOS for once. 

This can be way more cost-effective compared to developing separate native apps for each platform, which can skyrocket your overall Chime-like app development cost.

8] App Testing 

Without testing, it is not possible to launch an app. 

App Testing goes beyond just making sure everything works- it’s about catching security flaws, UI bugs, and backend issues before your users do. 

The more advanced the features and the greater the complexity of your app, & the more comprehensive and costly the overall testing process becomes. 

But, remember this investment is important to deliver a flawless user experience. 

9] Maintenance & Updates 

Once your app is live, time to work on maintenance and updates. 

As they will keep your app running smoothly. This includes adding new features, fixing bugs and starting up-to-date with regulatory requirements, especially in the financial sector. 

And, all this doesn’t come for free, they can spike your total cost to develop an app like Chime. 

Here’s how maintenance and updates can affect costs:

So, with these factors in front of you. You must have understood how much does it cost to create an app like Chime and the several factors affecting it. 

With the solid understanding being laid, time to understand how you can reduce the Chime-like app development cost. 

How to Reduce the Overall Chime-Like App Development Cost?

Investing in app development can be exciting, but it’s no secret Chime clone app development costs can be too much.

Fortunately, there are a few smart strategies you can implement to help reduce the overall cost without sacrificing quality. 

Let’s dive into some ways to keep your costs under control: 

A] Focus on Main Features

Firstly, pay attention to the main features, for which your user will be obliged to have a solution.

For instance, basic banking transactions (e.g., account balance, transfer, bill pay) are requirements.

Adding too many advanced features in the early stages can increase the development cost significantly.

B] Choose a Cross-Platform Development Approach

One of the biggest ways to cut down on the cost to develop an app like Chime is by opting for cross-platform development.

Instead of building separate iOS and Android apps, you can go for cross platform development using tools like React Native or Flutter to build one app that works on both platforms.

This decreases development time, and cost, and makes upgrades easy to do.

C] Work with a Skilled but Cost-Effective Development Team

While looking for the best mobile app development company , location of the firm can play a significant role in the Chime clone app development cost.

For example, the teams from the countries in Eastern Europe and Southeast Asia region are generally creating high-quality stuff at cheaper prices than developers in North America or Western Europe.

Doing some research into hiring offshore developers could save you a lot.

D] Use Pre-Built Solutions and Third-Party Integrations

Consider integrating third-party tools and services.

For instance, using payment gateways like Stripe or PayPal for transactions, or Plaid for linking bank accounts, can save you a lot of development time and costs.

E] Plan for Scalable Architecture

If you plan for your app to scale from the start, you can avoid the need for major system overhauls down the line.

A well-thought-out, scalable architecture ensures that you don’t have to rebuild significant parts of the app as your user base grows, which can prevent future expenses.

F] Use Pre-Designed UI/UX Templates

This is one of the more expensive parts of the app development process, but you can also reduce the cost by choosing pre-designed templates.

Although custom UI/UX designs are amazing, templates can get you started with a polished look and feel at a tiny fraction of the price.

As the cost part is done so far, time to know about how Chime-like apps make money.

How Does Chime Like App Makes Money? 

If you’re wondering how a Chime clone app generates revenue, you’re not alone. 

Building a Chime-like app can be an exciting venture, but understanding the business models behind it is key to creating a sustainable platform. 

Let’s break down how these apps make money:

► Monthly Subscription Fees

Starting with the main revenue streams for apps like Chime, “Monthly Subscription fees.’’

While many features are free, users can opt for premium services like higher withdrawal limits, better interest rates on savings, or additional financial tools. 

► Transaction Fees

Even though many Chime-like apps promote free transactions, they can still make money through transaction fees.

For example, if a user performs an out-of-network ATM withdrawal or a particular payment method, the app may charge a nominal fee. Such fees, when multiplied out by a large number of users, can quickly become substantial.

► Interest on Customer Deposits

Similarly to traditional banks, chime "like app" banks can earn money through the practice of holding the users' deposits and earning interest on the deposits.

These apps often partner with banking institutions to offer savings accounts, and they earn a portion of the interest that’s generated through the funds deposited by users.

► Referral Fees from Partners

Another source of revenue for Chime clone apps is by referring users to other companies.

For example, they could integrate with other financial offerings, such as loans, insurance, or investment services. Every time a user registers for these services via the app, the app gets a referral fee.

► Overdraft Protection Fees

Some Chime-like apps offer users a line of credit for overdraft protection. If a user spends more than their balance, they may pay a fee (or interest) for using that service.

Although some apps advertise "no fees", this can be a backend revenue stream, which is not free.

► Affiliate Marketing and Product Recommendations

Chime clone apps may generate revenue through affiliate marketing, too.

By recommending financial products, tools, and/or services to their users, they can collect commissions on each transaction or sign-up that comes through the app.

► Loan Interest (if applicable)

If your Chime-like app offers microloans or personal loans, you can also make money by charging interest on the loans that are provided to users.

This is an enhanced function, but it is a reliable sales channel that digital banks and financial apps all take advantage of.

How JPLoft can Help You Build a Mobile Banking App like Chime?

Building a mobile banking app like Chime requires expertise, creativity, and a solid strategy. 

JPLoft is a top name when you look for the best mobile banking app development company. We have a team of expert developers, designers, and professionals who can bring your innovative financial apps to life. 

Recognized by Clutch, DesignRush, and other platforms, we take pride in launching solutions that not only offer seamless solutions but also increase ROI. 

Let’s Connect to Make Your Dream Come True!

Conclusion

Building a Chime-like app is a great investment, and knowing the cost is just the start of a great journey. 

As you can see, the cost to develop an app like Chime is influenced by several factors, including app features, security, and development team location. 

Each factor comes with its own set of costs, so it’s crucial to prioritize what you need for your Chime clone app. 

By understanding these factors, you can make informed decisions and budget accordingly.

Have questions about the cost of your mobile banking app or want to dive deeper? Let us know!