Spray the inside of your slow cooker with cooking spray to prevent sticking.
In the slow cooker, combine refried beans, cream cheese, sour cream, and taco seasoning, stirring until smooth.
Add the cheddar cheese, Monterey Jack cheese, green chiles, and salsa, mixing until everything is well incorporated.
Cover and cook on low for 2.5 hours, stirring every 45 minutes to ensure even melting.
Once the dip is hot and all the cheese is melted, give it a final stir and garnish with fresh cilantro.
Serve immediately with tortilla chips, keeping the slow cooker on warm setting.