Simple

3.9 out of 5 stars
92 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.

Mar 23, 2017
Great for college students
Thomas777999 Account Holder

Simple offers a good product for those who don't have very many assets and/or don't require brick and mortar services.  Its great for those starting out in life, like college students etc. it allows them to easily track their spending and set goals.  I had this account right up until I purchased my first property, which proved to be more trouble than it was worth.  That being said, the customer service at Simple is awesome, they were always super helpful.      

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Mar 22, 2017
The good and the bad...
acobrazil Account Holder

... based on my experience. 

Good

Very simple as the name implies. I used it mostly for some auto payments and for goals, which is an awesome feature. Not having a physical branch didn't bother me because Simple wasn't my primary bank account. I also never had any fees charged to my account,

Bad

A few months ago they changed their partnering bank so I had to go through the process of changing account number, routing number and debit card. Aside from the temporary hassle that goes with that, once complete that was done and dealt with... no biggie.

A few weeks after that I started seeing several transfers to and from my own accounts (from Simple to my other bank account and vice versa). I know I did not do those. It seemed like they were creating the transfers themselves as most of them were under $1, and sometimes under $2. When I reached out to them, they first told me my account was hacked and forced me to change my user name and password, which I did.

The following day, however, I got a message that my account had been compromised and they would have to close it altogether. And in that same message they were "sorry to say" that they were unable to offer me a new account at the time. 

Summary, it was an ok experience overall, but I'm glad I never made them my primary bank account. And given the latest troubles I'm not sure I'll be eager to go back if they were to offer me a new account in the future.

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Mar 14, 2017
Detached
Stopgivingbadsvc Account Holder

I'm going back to a bank with brick and mortar branches so I can get actual banking done with ease.

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Mar 03, 2017
Can't Go Wong - NO FEES
Anonymous Account Holder

Goals are the best feature. Budgeting built-in.

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Mar 02, 2017
Simple is what banking should be.
carobrown Account Holder

I've been using Simple for 4 or 5 years... I first got my card back when they were doing invite-only beta testing and I've never looked back.  The app is intuitive and easy to use; it's the only budgeting tool that has ever worked for me.  The support team is amazing; responses within 24 hours always, from real people who take the time to understand my issue and genuinely want to help.  The lack of fees is refreshing and gracious in today's banking world.  The card is cool looking (we're all a little vain).  Long story short, Simple is the bright spot in an industry that makes me anxious and worried.  I can't say enough good things about them.

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Mar 01, 2017
Goals made simple.
Rcordero212 Account Holder

Love the service, quick replys and the mobile app is great.

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Mar 01, 2017
Amazing bank for the digital world
Anonymous Account Holder

Amazing customer service, fast deposits. Absolutely love this bank!

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Mar 01, 2017
This bank is doing some great things!
Zyraph Account Holder

For those worried about an online-exclusive bank, please don't worry about this one! Their customer service team is the best I've ever had to talk to, and they always solve any issues I've had with a smile! I quit my credit union for these guys, and it was the best decision I ever made!

If you want a bank that won't punish you with fees, go with this one. It's so great, I tell all my friends about it!

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Mar 01, 2017
Both good and bad
Wildcat445 Account Holder

The application process was smooth. The online system is great.  I like the feature where they will mail out a physical check if needed. Fees?   Practically non-existent.  But the one major negative is the very poor processing of physical checks mailed to them for deposit.  My last deposit (and I do mean my last) with them, I sent in three checks. One got processed in nearly two weeks.  The other two they couldn't find, and then finally got them going after more than another week had passed. I have been told repeatedly that USPS first class mail take "about a week" to get there.  Nonsense.  The USPS site shows 2-3 days and in my personal experience, I get mail locally or across the country in two days in just about all cases, occasionally three...maybe once a year I'll get one or two beyond three days.  Yet any time I have sent in checks, it takes a least a week.  Even when I sent them my first deposit via an overnight envelope to their suggested physical address, it still took days for them to process the deposit.

With the backing bank changing to BVVA Compass, I will likely be leaving them, as I have heard nothing but really bad reviews of that bank.  I am already having to find a credit union locally to replace them, and then I'm back to worrying about all the fees and find print that these institutions sneak in on you.

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