Advertiser Disclosure

Pros

No monthly maintenance fees or minimum balances.
Over 55,000 ATMs available.
No overdraft fees.

Cons

No way to deposit cash.
Simple 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 | Reviewed May 12, 2016

Checking

4.5

Simple offers a free, branchless checking account with mobile budgeting tools — but no way to deposit cash.

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
Poor
Website / app
Poor
Rates
Poor
Fees
High
Zero Stars If Possible
Do you love having a bank freeze your account? Do you love being ignored by customer support when you ask the status of your account? Do you love asking a question and no one on staff including managers have no kind of answer for you? Do you love an inefficient bank? Do you love the same regurgitated answer over and over and over? Then this bank is for you! You know how people say "It's great until it's not." I would say reserve judgment until you run into your first problem. See how it's handled. As for me, poor customer service, poor account management, and poor management--period--will hopefully result in this bank going under. I am a "current" customer, but trust me, once my account is available, all my money will be going elsewhere and the account closed.
Overall
Customer service
Good
Website / app
Excellent
Rates
Poor
Fees
Low
I don't know how I manages money before...
Seriously. I was previously with BofA and overdrafted constantly. I was not good at managing my money. Combine that with a paycheck to paycheck living and I always seems to be $10-20 short, resulting in overdraft fees. I was hesitant on switching to Simple, not having that brick and mortar building felt like such a leap, but I was seriously sick of not managing my money well. A friend had just switched and she showed me how she was using it to budget. I've now been with Simple for over a year and a half and still really enjoy it. Some issues I've come across... -checks. I use to live in an apartment where I had to mail the check. It was such a pain, and took at least 5 days to process before sending out, so I always had to schedule it like two weeks in advance. I now live at a place where you can pay online so no longer an issue. -cash deposit. There have been a couple times this has been a pain. I do conventions where I sell my art work sometimes, having a large amount of cash I always had to turn it into a money order vs just depositing it. -changing bank providers. At the end of 2016 Simple changed from Bankcorp to BVCA. It was a pain, not going to lie. Everyone had to get new bank account numbers and cards. I also seemed to not get my email on time..I had my friend who also had Simple get hers two weeks earlier than I did. Luckily it was before the cut off date, but still a huge pain. -savings. Not having a savings to instantly fall back on isn't the greatest. I bank with Ally and they have a pretty quick transfer, but still not instant. To solve that I just have a goal set aside with an a couple hundred to cover emergencies in case I can't transfer right away. The reason I've this bank with all those issues listed above is seriously this is the only way I've been able to manage my money. I have a huge amount of student debt + regular bills. Having the safe to spend really helps me see how much money I have left over from paying bills and how much more I can put to my loans. I've sort of considered being with Simple like financial training wheels. The goals are great too. Every year after Christmas I've started a new goal set for the year a head so I actually have money to spend on Christmas presents. When I have any goals hit $100 I transfer it to my savings for better interest rates. Specially if it isn't something I'm going to touch for a year. Simple interest rates aren't that great.. I've never really had any huge issues with them in which I needed to contact customer service. I only had a fraud charge once. Someone used my card for $30 at a doctor's office across the country. They canceled my card and notified me immediately. When I wrote back to them though asking what the fraud charge was they didn't write back till the next day. Luckily it was only $30 which was probably why I'm letting the lack of response slide. I also rarely get cash out so the ATM's aren't a huge deal. Overall this bank isn't for everyone. They have some cool app features, but if things like having checks and instant access to savings is something you need..it might not be the right fit.
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