If you're looking for a bank account that works well with your SSI or SSDI benefits, you've probably come across both Chime and Purple. Both offer fee-free accounts and early direct deposit—but they're designed for different audiences.
So which one is actually better for people on disability benefits? Let's break it down.
In this article, we'll cover:
- How early direct deposit compares
- Fee structures and hidden costs
- Features built for disability recipients
- Representative payee support
- Which account is right for you
1. How Early Direct Deposit Compares
Both Purple and Chime offer early direct deposit, but there are some differences:
Chime:
- Offers early direct deposit up to 2 days early for most deposits
- Timing depends on when the payer sends the file
Purple:
- Offers early direct deposit up to 4 days early for government benefits like SSI and SSDI
- Also offers up to 2 days early for other deposits like paychecks
If your primary income is from SSI or SSDI, Purple's 4-day early access for government benefits can make a meaningful difference—especially when bills are due at the beginning of the month.
2. Fee Structures and Hidden Costs
Both accounts are marketed as fee-free, but it's worth looking at the details:
Chime:
- No monthly fees
- No minimum balance
- No overdraft fees (with SpotMe eligibility)
- Out-of-network ATM fees may apply
Purple:
- No monthly fees
- No minimum balance
- No overdraft fees
- Out-of-network ATM fees may apply
On the surface, both accounts are similar when it comes to fees. The real difference comes down to features and support.
3. Features Built for Disability Recipients
This is where Purple stands apart. While Chime is a general-purpose banking app, Purple is specifically designed for people who receive disability benefits.
Purple offers:
- Tools to track SSI and SSDI income
- Spending categories to help with budgeting
- Document storage for benefit letters and SSA correspondence
- Income monitoring to help you stay within SSI resource limits
- Support for ABLE account holders
Chime offers:
- General budgeting and savings tools
- Automatic savings features
- Credit-building options (Chime Credit Builder)
Important: If you receive SSI, staying under the resource limit is critical to maintaining your benefits. Purple's income monitoring tools are designed to help you track your resources—something Chime doesn't offer.
4. Representative Payee Support
If you're a representative payee managing benefits for someone else, the differences become even clearer.
Purple:
- Supports representative payee accounts
- Allows you to label and organize dedicated accounts
- Helps with SSA-6233 annual reporting
- Designed to keep payee funds separate and compliant
Chime:
- Does not specifically support representative payee accounts
- No dedicated tools for managing benefits on behalf of others
- May not meet SSA requirements for fund separation
For rep payees, using an account that doesn't support proper fund management can lead to compliance issues—or even loss of payee status.
5. Which Account Is Right for You?
Here's a quick summary to help you decide:
Choose Chime if:
- Your primary income is from employment, not benefits
- You want credit-building features
- You don't need specialized disability tools
Choose Purple if:
- You receive SSI, SSDI, or other disability benefits
- You want early access up to 4 days early for government payments
- You're a representative payee
- You need tools to track income and stay within SSI limits
- You want an account built specifically for your needs
Why Purple Is the Better Choice for Benefits
Purple was created for people who rely on disability benefits. Every feature—from early direct deposit to income tracking to rep payee support—is designed with your needs in mind.
With Purple, you get:
- Up to 4 days early access to SSI and SSDI
- No monthly fees or minimum balance
- Tools to manage benefits and stay compliant
- Support from a team that understands disability banking