Our Simple review explains how Simple is not a perfect bank service, but they do have a series of functions and features that some people may find attractive. It is an online bank account that was made for mobile phone users. The Simple checking account comes with a debit card and a mobile app. Their mobile tools are great for people who very attracted accounts they can manage on their phone. If you are more of a desktop or branch banker, then you may not enjoy having to use your phone every time you wish to action a transaction.

Simple Review – Benefits And Features

  • It has its own app that you can download and use for free
  • Send payments for free with other Simple bank users
  • Check deposits via your Smartphone
  • A safe-to-spend function you can use on the Simple app
  • Block and unblock you card with the Smartphone app

Perks And Downsides

[+] They do not charge overdraft fees on their standard checking accounts
[+] There is no maintenance fee
[+] You do not have to maintain a minimum balance
[+] They have over 55,000 ATMs in their network
[+] The service was custom-made for administration and use from a mobile device

[-] There is no way to deposit cash into your accounts
[-] You are unable to visit a branch or talk to a real person face-to-face
[-] Moving money from one account to another causes delays
[-] Their banking practices are not very professional at times
[-] It can take funds quite a while to clear in your bank
[-] You are unable to transfer money to other people’s bank accounts

Checking Account

Our Simple review found that they offer a free online-only checking account. They have a mobile app that you may use to administer your account, and it has budgeting tools that shows a running total of your bills. Your checking account is subject to very few fees, and they have even eliminated their replacement card fee and their account inactivity fee. Their online/website account administration GUI is not very good, which is why we say that Simple is the sort of account you should try if you prefer mobile banking over Internet and face-to-face banking.

No Branches And No Way To Deposit Cash

If you want to move money into your Simple bank account, then you have to do it with a debit card and/or with a transfer from another company. Simple is very similar to a third-party money/wallet account like the Google Wallet or PayPal. You may move money to other Simple users for free in the same way you may move money for free between PayPal and Google Wallet users. Simple’s budgeting tools are great, but it is up to you if their tools and apps make up for the fact you cannot deposit money into your account.

Is The App Worth The Bother?

It is not a bad app. I don’t want to push it too hard because Simple isn’t a fantastic bank, nor do they offer a fantastic service, but their app is serviceable. Most people will probably find the goal-setting function very helpful, and if you ally that with their safe-to-spend function, it makes for a useful app. The app allows you to block and unblock your card with just a tap, which is a brilliant idea that more banks and online money accounts should try.

Simple review - App

Account Freezing

Try to avoid conducting important business with your Simple bank account. The bank has a habit of freezing accounts for reasons that vary from you trying to conduct transfers, to the bank experiencing technical problems. I have read quite a few articles and online reviews where people complain about their account being frozen for no good reason. It did happen to me, and I discuss it in the conclusion, though they did tell me why they froze my account (because I tried to transfer money to another person’s bank account).

Simple review – Biggest Selling Point

Get other people to sign up with Simple and you may transfer money between yours and your friend’s Simple accounts for free. The transfers also happen very quickly. In this regard, Simple is very similar to third-party money services such as PayPal. Another lesser known and ergo less popular selling point is their “safe-to-spend” function. It makes it so that you do not overdraw. The safe-to-spend feature removes math from the situation and “Simply” lets you spend if you have the money.

Simple Review – Fees And Charges

Simple do not charge fees. There are no maintenance fees, no charges to withdraw, no fees for deposits, no charges for replacing your card, and no inactive account fees. You cannot overdraw your account, so they will not charge you an overdraft charge. Below is an image of a screenshot from their website. It shows how they have no fees.

Simple review - Bank charges no fees

Whom Should Take Note Of This Simple Review?

If you are looking for an online area in which to store and use your money, then consider a Simple bank account. However, you may have noticed within our Simple review that you cannot deposit cash directly into your account. If you deal with cash on a regular basis, then you are making a mistake if you decide that your Simple account should be your main bank account. If you wish to make quick transfers for free between yourself and your friends, then you should all sign up for Simple bank accounts (or PayPal accounts or Google Wallet accounts). A Simple bank account is not so good if you wish to transfer money to other people’s bank accounts. If you are looking to transfer money to other people’s bank accounts, then you need to avoid Simple.

User Comments And Reviews

[+] Safe-to-spend function is mostly unknown by the online reviewing community, but the people who know about it will often rave about it on forums and review websites

[+] Goal setting helps some users administer their accounts. They do not mind the basic no-frills account because it allows them to set budget goals on their phone.

[+] They have 50,000 ATMs in their network, which is handy if you live near one and you have regular access to one.

[+] The fact that you cannot incur fees with the company is great. Only International debit card transactions come with a charge of 1% of the transaction total.

[+] Simple Bank receives a fair amount of praise from the online community because its app is easy-to-use and popular.

[-] Deposits sometimes take far too long to process, and they take even longer to clear.

[-] Only full US citizens may have a Simple bank account. Some online users have complained that they cannot get an account if they are not full citizens.

[-] They should let users deposit money somehow. One wonders if we are still living in the 1800s. Cash money isn’t extinct yet.

[-] The fact that one of Simple’s investors is BBVA comes as a big shock to some people. Most people are morally against doing business with such a bank.

[-] Some people complain that international transfers and deposits take far too long. Some have complained that they take up to ten days.

Conclusion – Simple Review



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My experience with Simple was not fantastic, but I have given the company the benefit of the doubt in this Simple review because Simple’s service is pretty good and moderately well rated. One bother for me was when I tried to create a transfer to another bank account. Simple froze my account and it was difficult trying to unfreeze it. I don’t know if this is a common problem, but it is the reason I wouldn’t have Simple as my main bank account. I cancelled my account anyway when I discovered that one of the banks invested in Simple is BBVA. They are the ones taking taxpayer money with one hand and dragging people into poverty with the other. Avoid Simple at all costs until the BBVA is no longer suckling at its teat.