Is Chime considered a prepaid financial service?

Chime is often categorized as a financial technology company, providing mobile banking services through its partnership with The Bancorp Bank or Stride Bank, N.A. Although Chime offers a Visa debit card, it does not operate as a traditional prepaid card service where users load funds onto the card in advance. Instead, Chime's debit card is connected to a spending account that can receive direct deposits, support electronic fund transfers, and facilitate everyday transactions much like a conventional checking account. Chime also offers features such as automatic savings and no minimum balance requirements, distinguishing itself from prepaid cards and aligning more closely with modern online banking solutions.