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
Poor
Fees
High
worst customer service
I have been banking with simple for about 6 months and it has been nothing but a headache!!! There are all these rules and holds and blah blah blah... Every time I want to do anything with my account, there is an issue with doing what I want. Most recently, I had a rather large check to deposit. I go to deposit and there is a $2000 limit on deposits. WHAT??? What is the alternative? Send an endorsed check with your bank info on it through the mail!!!!!! WTF?? That isn't a safe route to take. So I called them to raise the deposit limit and they flat out said no. No conversations, no exceptions, nothing. Just no. The horrible customer service person told me I could deposit my check to another bank and then deposit smaller amounts from the other account. Umm...why the hell would I need other bank account??? I have been consistently disappointed by this bank and will close the account and go elsewhere. I can not and will not work with a bank that literally does nothing to help their customers out.
Overall
Customer service
Fair
Website / app
Excellent
Rates
Fair
Fees
Low
Actively discriminates against lawful permanent US residents
Simple bank actively discriminates against lawful permanent US residents (green card holders) excluding them from opening a savings account. They are currently being sued in California about this.
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