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Simple

4.0 out of 5 stars
89 Reviews

From Account Holders in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

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Most Helpful Positive Review

Aug 13, 2016
TJ416 Account Holder

No fees; Even when my account went inactive for months! I love my BANK account. No drama just SIMPLE. 

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Most Helpful Negative Review

Oct 06, 2016
Dont be fooled by the modern interface
Anonymous Account Holder

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.

Final verdict-

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.

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These reviews were written by current and former account holders in the last year.

Feb 22, 2017
Great when learning to adult
CerineUnity88 Account Holder

...But not much beyond that. I've had my Simple account since 2013 and loved it in the beginning. I was able to save easily, customer service was great, etc. Not being able to deposit cash is annoying but not really a deal breaker. Fast forward to last year when I tried to buy a house. Simple had no way of wiring funds when I closed, and suggested I send the mortgage company a traveler's check instead, which isn't accepted for extremely large sums (like when buying a house). Luckily for me I went in with someone else who is with a credit union, so I was able to transfer that money to him before we closed. Transferring large sums like this right before closing is strongly discouraged by mortgage companies and increases the chances of being declined. (I had to make many phone calls to my mortgage complany and their bank, and essientially be given permission for this transaction. All days before we closed.) This was incredibly stressful on top of the normal stresses of buying a house. A couple of months later I opened an account with the same credit union for easier transfering of money, although I kept Simple as my primary account.

This year Simple has changed to a new parent bank, BBVA Compass, and I'm not sure if the wiring situation will change or not. However I've had problems with migrating my account to this new bank. I submitted all the new account information for direct deposit to my payroll servces, instructed by Simple, and was told to wait for a nofitication (from Simple) that my direct deposit had gone through. Well, it's been nearly a month and one round of paychecks and I still don't have access to the new account, or my paycheck. My mortgage is coming up soon and it appears that my money has gone through to the new account, only I can't finish migrating over. This was discovered during a conversation with one of Simple's reps, who has not yet gotten back to me on how I can access my new account. I'm just sort of left stranded with dwindling savings and no idea when or if I can get my money soon (or at all). 

I really wish more banks had the same user interface features as Simple or that Simple wouldn't have these strange problems. Day-to-day scenarios are usually fine, but if anything weird happens it's a confusing, painful process to be sorted out, oftentimes creating a tedious workaround with other banks because Simple doesn't offer something basic, like wiring funds. Glad I didn't have them when I studied abroad!

It may be time to take the leap to a fully "adult" credit union. 

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Feb 22, 2017
They closed my account...
Anonymous Account Holder

... because they said I was abroad too often. i travel for business a few times a year for 2 months at a time. No toher bank/broker/credit card company has an issue with (actually they probably appreciate the foreign currency and internation ATM fees they charge me). Bu Simple said no and determined they had to close my account. BAD

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Feb 07, 2017
Absolute scam
Anonymous Account Holder

I opened my bank account in Nov. 2016 for my wedding money that was given to me, they were going to be adding shared accounts so that my fiance and I would both be able to access the money. As soon as I deposited the first check, my account was frozen due to Simple needing verification documents. I sent my documents and called to confirm they had what they needed. The agent was very kind and stated to expect a support message from the "Verification" team later that day. 24 hours later I still had no message so I called to ensure that they didn't need anything. The caller stated that this process takes time and that they would get back with me. I asked the agent what kind of time we were talking and she stated she had no idea, but that they would get back to me. I allowed 4 days to pass, and still heard nothing. Mind you, my account and MY money was locked. I then called and spoke with someone again who stated she couldn't tell me when the team would review my documents, nor would I be able to speak with that team. I even spoke with 2 different managers who stated they couldn't give me any answers but that it would take time for them to unlock my account. Not to mention, the final phone call I had with them the two support team members were rude, condescending, and absolutely robotic in their responses. 

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Feb 04, 2017
Worst Customer Service Possible
Anonymous Account Holder

For day to day transactions, Simple is efficient as an online bank should be. If there are any issues with the account, however, the customer service provided is bare minimum. It is worse than any public utility company, or cable provider offers. They are polite, but they will not solve your problem. They do not have phone reps that can handle complex issues either, all escalations are handled via email. Essentially, if they make any errors that result in your assets being frozen or possibly misappropriated, then you will not be able to get them back.

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Feb 04, 2017
Worst Customer Service Possible
Anonymous Account Holder

For day to day transactions, Simple is efficient as an online bank should be. If there are any issues with the account, however, the customer service provided is bare minimum. It is worse than any public utility company, or cable provider offers. They are polite, but they will not solve your problem. They do not have phone reps that can handle complex issues either, all escalations are handled via email. Essentially, if they make any errors that result in your assets being frozen or possibly misappropriated, then you will not be able to get them back.

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Feb 02, 2017
Very Efficient and Customer Focused
mattpaulauskas Account Holder

Sometimes it can be difficult to deal with a bank that has not physical presence, but Simple does a good job of minimizing that pain.  Their website and apps are great and provide quick and easy access to my account information and a customer  support rep if I'm having trouble.

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Feb 01, 2017
the best bank I have ever worked with
Anonymous Account Holder

easy to use, great communication...simple makes me feel like I have a friend to rely on who keeps better track of my funds than I do! user friendly, in the best possible way. customer service is never less than stellar, always. they are fast, trustworthy, and always looking out for your best interest. simple lives up to the name, couldn't say enough good things!

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Feb 01, 2017
the best bank I have ever worked with
Anonymous Account Holder

easy to use, great communication...simple makes me feel like I have a friend to rely on who keeps better track of my funds than I do! user friendly, in the best possible way. customer service is never less than stellar, always. they are fast, trustworthy, and always looking out for your best interest. simple lives up to the name, couldn't say enough good things!

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Feb 01, 2017
Inept support.
Anonymous Account Holder

If you use a proxy they may assume the worst and lock your card under their interpretation of the Money Laundering terms of the Patriot Act. Once locked you will be restricted to ACH transfers only. This has happened to me and two of my friends. Customer support is clueless.

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Feb 01, 2017
Fantastic direction of the Bank system
sladeisbarefoot Account Holder

Banking always seemed a pain. However, Simple doeas a fantastic job of pushing the "save everyday" and "envelope budget" ideas directly to yor money which makes the process very direct. My experience at the beginning in 2014 was a tad rough at first to get started (this being a new concept). However, once settled and using all the tools offered, it shines very nicely. I do recommend trying them out, but to really "try" it. You have to commit 100% to make it work. Using it halfway can get convoluted.

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