at Simple,

Member, FDIC

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
No savings account or CDs

At NerdWallet, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.

We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

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 Sept. 25, 2018

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.

 

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,

Member, FDIC

Fee-Free Checking Account
APY
2.02%
Monthly fee
$0
Balance to waive monthly fee
$0

at Simple,

Member, FDIC

How does Simple compare?

Simple

Fee-Free Checking Account

NerdWallet Rating

at Simple,

Member, FDIC

APY

0.01%

Monthly Fees

$0

Bonus features

No overdraft/NSF fees

No Monthly Fee

10,000+ ATMs

Bank of Internet USA

Rewards Checking

NerdWallet Rating

at Bank of Internet USA,

Member, FDIC

APY

1.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

No overdraft/NSF fees

ATM reimbursements

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

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
This bank DOES NOT have your back.
If someone steals money from your account, you are screwed. They do not help. They do not return any money right away. This is a problem for people who have bills. This bank is good for a high-school or college kid. Adults need better banking. Simple is NOT that.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Not for the working man.
This bank is a joke, don't get it. I thought it would be best to begin this review with my conclusion. Story: Someone fraudulently charged $500 on my account. I reported it and filed a claim. Other banks would provide you with a “provisional credit.” In other words, they will return the money immediately while they conduct their investigation. Simple doesn’t do that. For Simple, what needs to happen first is that a dispute agent needs to review the claim. Once the claim is reviewed AND the dispute agent determines these were indeed fraudulent charges….then and only then… do you get your money back. I asked Customer Service if I could talk to a manager or someone from the dispute department because I’m out $500. I need the money. Who doesn’t? Apparently, their dispute department is not customer-facing and the manger would “only tell me the same thing” the Rep. told me. At this point, I asked about the timeframe regarding the dispute agent’s review. To this, the Customer Service Rep. responded that there is no way to determine how fast the review would take place. In other words, who knows when I’ll be getting my money back. In short, if money is important to you, or if you have bills, do NOT use this bank. They will not help you. You are at the mercy of their crappy claims handling process and at the timing of when the fraud takes place. This bank is a joke.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.