At the start I was happy with the banking services Simple offers. After using it for a few years, unfortunately I feel strongly that I need to put a review out there to let people know the difficult experiences I had, which ultimately caused me to leave its customer base.
If you are an entrepreneur, small business owner OR aspire to become one- THIS IS NOT THE BANKING SERVICE FOR YOU.
Simple banking does not provide a way for its users to deposit cash. While at the start this was a minor inconvenience for me, it became more problematic for me later.
My experience using their electronic check feature earns them a 'one star' rating. On several occasions the persons that were meant to receive the check I sent through Simple's system- never received them and I had to go through a process of contacting Simple customer service and get the checks sent a second time. This caused me extra time, inconvenience and worry and I lost confidence in the checking system all together.
This brings me to my "last straw" issue- I am a hairstylist- I worked as an employee and recently started renting a chair at a salon. This is a fairly minor change in the big picture of my job reality- but it meant that I needed to be able to start depositing cash on a regular basis. I went to a credit union and opened A PERSONAL ACCOUNT there- simple so I had the ability to deposit cash and write reliable checks as needed. This additional account is not classified as a business account and it is in my name only. - I then tried to write myself a check out of my personal credit union account into my simple account- at which time Simple declined it and specifically told me that I could not deposit a personal check to myself from another account. The message also told me to instead set up an external transaction account feature with in Simple- which has to be in my name specifically. So that is what I did. The external account connection was set up successfully and when I had a question about it- I called Simple's customer service- out of ignorance- I told the woman that I was in part using this new account for business. Who knew that would be such a big deal. I was told that connection with business accounts was not allowed and that I needed to disconnect that external transaction feature immediately. This is incredibly inconveniencing to me- because now I have absolutely no way to move money between my two accounts.
For those reading this- SIMPLE DOES NOT ALLOW SIMPLE ACCOUNTS TO BE USED AS BUSINESS RELATED ACCOUNTS AND DOES NOT ALLOW ANY ASSOCIATION WITH what they deem to be BUSINESS RELATED ACCOUNTS.
I can not recommend Simple to anyone who owns a small business- or would like to start one in the future. I am taken aback by this policy. There is NO ROOM FOR GROWTH with in this banking system. I was enamored with and drawn in by the 'simple' user interface and the youthful modern vibe the culture of the customer service people presents. BEWARE- because under that appealing interface is a big business rigid banking system (BANCORP+) that does not allow its users any options or the ability to grow their personal finances.
I had no option but to close out my Simple account and move entirely into credit union accounts. Again, extra time, headache and inconvenience for me.
The name of the company should be 'Basic' rather than 'Simple'
Its lack of options/ services proves to be inconveniencing in the long run.
Dont be fooled by the modern friendly interface- its a big business bank with limited services.