Fintech Chime to Let Customers Access Their Paychecks Early (1)

Chime Financial Inc., the fintech known for its fee-free banking services, is now offering consumers the option of accessing as much as $500 of their paychecks before they arrive.

It’s the first time Chime has veered into offering a service known as earned-wage access. Chime’s offering, called MyPay, lets consumers unlock some of their earned pay for free within one to two days of making a request, or instantly for a $2 fee.

The allure of earned-wage access has attracted dozens of financial-technology firms as it’s grown in popularity, along with companies such as retailers Walmart Inc. and Amazon.com ...