at Simple,

Deposits are FDIC Insured

Pros

No monthly maintenance fees or minimum balances.
About 40,000 domestic ATMs available.
No overdraft fees.

Cons

No way to deposit cash directly.
Simple's bill-pay feature can't process some payments, including taxes.

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Overall

4.0

Simple is a free, all-digital checking account designed to be used mostly on your smartphone. It comes with a Visa debit card and a handful of first-rate mobile banking tools.

 

Ratings methodology | Updated Jan. 31, 2019

Checking

4.5

Simple offers a free checking account with mobile budgeting tools — but no way to deposit cash directly. The mobile app keeps a running tally of how much money is "safe to spend" after accounting for scheduled bills, savings and transfers. It's a good bet for those who want to avoid fees and overdrafts and want to bank primarily over an app.

 

If you have a protected goals account and fund it with at least $2,000, that money will earn 2.02% APY.

 

Need a place to stash your savings? Check out NerdWallet’s best high-yield online savings accounts

Fee-Free Checking Account
APY
0.01%
Monthly fee
$0
Balance to waive monthly fee
$0

at Simple,

Deposits are FDIC Insured

How does Simple compare?

Simple

Fee-Free Checking Account

NerdWallet Rating

at Simple

APY

0.01%

Monthly Fees

$0

Bonus features

No overdraft/NSF fees

No Monthly Fee

10,000+ ATMs

Chime

Spending Account

NerdWallet Rating

at Chime,

Member, FDIC

APY

N/A

Monthly Fees

$0

Bonus features

No Monthly Fee

No overdraft/NSF fees

10,000+ ATMs

Discover

Cashback Debit

NerdWallet Rating

at Discover,

Member, FDIC

APY

N/A

Monthly Fees

$0

Bonus features

No Monthly Fee

10,000+ ATMs

Live help 24/7

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Fair
Fees
High
You can't get money out!!
I accumulated a large balance to take advantage of the interest rate but with there being no wire transfers and limits on ACH amount, they basically trap your money making it hard to access in ways a traditional bank would never do. Their customer support doesn't give you consistent answers or timelines. I can always wire money or ACH up to all of my balance at another bank. Terrible - stay away!
Overall
Customer service
Poor
Website / app
Good
Rates
Excellent
Fees
Low
Randomly retires debit cards leaving you DOA
Brand new card 1 month old. Suddenly stops working on pay day!!! I call and they tell me the system randomly retired my card. Leaving me with no access to my money until they get me a new card!!!! Go figure. Switching to my credit Union. Goodbye Simple
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