In early 2015, I decided that I wanted an online bank versus a physical banking while still maintaining some basic features and easy access to money. After some extensive research, I stumbled upon Simple. Simple is an online bank founded in 2009 and at the time it was partnered with Bancorp Sometime after I joined they moved to BBVA. Upon the move to BBVA, the features expanded and I have been in love ever since.
Simple is a mobile banking experience. Through the app and website, individuals have access to many different features including:
– deposit checks
– direct deposit
– link external accounts
– accept third-party payments
This bank is 100% fee-free meaning no minimum balances, maintenance, overdraft, or monthly fees, and ATM withdrawals are free as long as you use Simple ATM system (ATM locator within the app). Simple isn’t just a bank. It is a money management system. The company takes customer requests for features and roll out new ones all the time. Since its inception, there have been several new features that I can’t live without (Goals, Emergency Funds, Expenses, and Push Notifications).
Favorite Simple Features
Goals – This feature in Simple can function as both a digital envelope system and automate savings. To set the digital envelopes, you add the money to a goal, and as you spend that money, you move it from the goal to the safe to spend. Using Goals as a generic saving is essentially the same actions. Set an amount and date to have money saved and Simple does the rest. You can move money as often as you like (daily, weekly, biweekly, monthly, etc).
Emergency Fund Goal – This is a protected goal that can’t be accessed accidentally. Save at least $2000 and earn 2.0% APR.
Expenses – Turn on expense and save money automatically so that those recurring bills are automatically covered. The expenses feature is one of the best features of the Simple app. Gone are the days of having to worry about paying the monthly bills. Set the amount to be stashed, the date, the funding schedule, and Simple handles the rest. Expenses is a very useful
Instant push notifications – Knowing exactly when purchases occur, payments are made, money is deposited is just another amazing feature of Simple. I love the push notifications, and I can count the number of times this feature has alerted me to attempted fraud or incorrect payment amount.
By using Simple, I was able to get rid of the GoodBudget
Money Management Guides – https://acurlytransition.com/money-management-guides/