Advertiser Disclosure

Pros

No monthly maintenance fees or minimum balances.
Over 50,000 ATMs available.
No overdraft fees.

Cons

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

Overall

4.5

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 May 9, 2017

Checking

4.5

Simple offers a free, branchless 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.

Fee-Free Checking Account
$0
Monthly fee
None
Balance to waive monthly fee
Learn moreat Simple
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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Wonderful
I've had Simple for three years and have never had a problem. I've always received prompt and polite responses to my email inquiries and phone calls and the app is user-friendly and clean. When I issue a money transfer or send a check, it's instantly taken from my available funds vs. other banks that wait for the money to be withdrawn. The latter is bad (and I believe strategic) practice that invites overdraft fees. I've been using Ally online bank at the same time because they issue paper checks, which although nearly antiquated, there are still a few people out there who don't know any other way to exchange money or who are confused by/ distrustful of money transfers. That is Simple's only drawback-- no paper checks. Ally is comparatively awful with a corporate, Bank-of-America feel; an old-fashioned app and way of doing business, which is that they hide fees, hold your deposits for no reason and are generally dishonest. It seems that the millennial business model is trending toward minimalism, which Simple has in spades. They are transparent and, well, simple. I've recommended Simple to two other friends and they also have had no problems. We've also connected our accounts so that we can *instantly* transfer money to each other's accounts. If my friend needs twenty bucks, it's seriously just a 5 second click away. I'm impressed.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Less than 0
Avoid this bank at all costs! I have been using it for years and suddenly they have decided I can no longer have an account with them because of my temporary overseas contracts. Talking to them is like talking to a wall...they won't listen and have decided to close my account without all of the facts, when I called them about it they just kept saying it is impossible to reverse their decision. This has caused me more problems than I can count. Simple is a lie....not simple, a huge headache. RUN!!!!
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