at Simple,

Deposits are FDIC Insured

Pros

No monthly maintenance fees or minimum balances.
About 40,000 domestic ATMs available.
No overdraft fees.
Earn 1.75% APY on protected goals balances.

Cons

No way to deposit cash directly.
No bill-pay feature.

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Overall

4.5

Simple offers free, online checking and savings accounts designed to be used mostly on your smartphone. It comes with a Visa debit card and a handful of first-rate mobile banking tools. It’s a good bet for those who want to avoid fees and overdrafts and want to bank primarily over an app.

 

Ratings methodology | Updated July 25, 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, and it lets you save up for monthly bills and other expenses with each paycheck. And it’s not all about online — you can still order checks.

 

» Compare your options with NerdWallet’s best online checking

Checking & Budgeting
APY
1.75%
Min. balance for APY
$0

at Simple,

Deposits are FDIC Insured

Checking & Budgeting
APY
1.75%
Monthly fee
$0
Balance to waive monthly fee
$0

at Simple,

Deposits are FDIC Insured

Account
APY
0.01%
Monthly fee
$0
Balance to waive monthly fee
$0

at Simple,

Deposits are FDIC Insured

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
Good
Fees
Low
Difficult website
This is not a simple account. The user interface is not user friendly. Very hard to figure out how to transfer funds, view rates and do anything.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Zero Customer Service
Simple has a beautiful sleek design and cool in-app features. But that's about it. I received a message saying that my account would be closed. No particular reason why. And at that point, I had not even received my debit card, so I messaged them back stating this. Two weeks later, I receive a canned reply saying that they can't tell me why they're cancelling my account, but to read the whole banking agreement. This has left me incredibly frustrated and going back to Bank of America. At least I have 24/7 customer support and speedy replies. Please do yourself a favor (and Simple, apparently) and don't bank with them. I know they've been around for at least a few years, and I thought they would improve with time, but it seems like they still haven't figured their stuff out.
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