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Simple Checking Accounts Review

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Simple is an online bank that allows consumers to manage a bank account entirely via the mobile app. Banking services are provided by BBVA, a subsidiary of BBVA. Simple charges zero fees and provides its customers with convenient budgeting features to manage their spending and save up for future expenses.
 
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How is Simple rated?

Breakdown

4.8/5
Account Features
5.0/5
Fees and Restrictions
4.2/5
Support, Reputation, and Financials

Overall Rating: 4.7 / 5 (Excellent)

Simple relies on its mobile app to provide a banking experience that combines effective budgeting and easy banking. Simple charges its customers absolutely no fees and provides access to thousands of BBVA-branded ATMs nationwide. While its customer reviews may not be stellar at the moment, Simple's standout features are definitely worth trying.

Simple Account Features

Account Features - 4.8 / 5

Simple offers an online bank account that is entirely managed via the mobile app. Customers can deposit checks by taking a photo, set up direct deposits, and link Simple to their external bank accounts in order to transfer money easily. Simple is also compatible with mobile payment services, enabling customers to send money to friends and family. Simple also provides customers access to a wide network of BBVA ATMs which charge customers no fees. The Simple app also integrates popular features of budget management services, allowing customers to set up their monthly expenses and savings goals so they can have a more accurate sense of how much money they can spend at any given moment with the Safe-to-Spend® feature. Additionally, customers can share an account with their partner, allowing for more effective household budgeting.
Types of Checking Accounts
Free Checking Accounts
Online Checking Accounts
No-Fee ATM
No-Fee at Network ATMs
ATM Locations
Simple charges zero fees for ATM withdrawals, whether they're part of the Allpoint network or not. However, the bank that owns the ATM may charge a fee (except for Allpoint ATMs).
Integration with Mobile Payment Services
Venmo
PayPal
SquareCash
Card Blocking
Yes
Pay Bills Online
Yes
EMV Chip Technology
Yes
Bank Checks
No
Mobile App
Yes

Simple Fees and Restrictions

Fees and Restrictions - 5 / 5

Simple charges absolutely no fees. There are only two exceptions to this rule: when withdrawing money from an ATM outside BBVA's network, the bank that owns the ATM (not Simple) may charge a fee; and when making a foreign transaction with the Visa-branded debit card, Visa (not Simple) charges 1% International Service Fee. Outside of this, Simple promises they will not charge customers any fees for using their own money.
Maintenance Fee
$0
Minimum Balance
$0
Minimum Monthly Deposit
$0
Minimum Number of Transactions
0

Simple Support, Reputation, and Financials

Support, Reputation, and Financials - 4.2 / 5

Simple is partnered with BBVA, a subsidiary of BBVA, the largest bank in Europe. BBVA provides the banking services offered by Simple, and it holds stable financial ratings from two major credit rating agencies. Simple is rated B by the BBB, where, unfortunately, customer reviews are not so positive. On Trustpilot.com, a handful of reviews also leans towards the negative side. These reviews might not accurately represent the totality of customers' experience with Simple, however.
BBB Rating
B
BBB Total Complaints
124
BBB Resolved Complaints
19
Trust Pilot Rating
6.8 out of 5
Date Collected
2018-08-31
Year Founded
2009
Standard & Poor's Financial Rating
BBB+
Moody's Financial Rating
Baa2
Live Help 24/7
No
Customer Support Hours
M–F: 6 am–4 pm PT; Sat: 7 am–2 pm PT

Contact Methods

  • Phone
  • Email
  • Social Media

Company Profile

Full Name
Simple Checking Accounts
Company Website
https://www.simple.com/
Headquarters
Portland, OR

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