at Simple,

Deposits are FDIC Insured

Pros

No monthly maintenance fees or minimum balances.
About 40,000 domestic ATMs available.
No overdraft fees.
Strong 2.02% APY on protected goals balances.

Cons

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

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Overall

4.0

Simple is a free, online 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, that money will earn 2.02% APY.

 

Simple also offers a bonus: Earn up to $500 on top of 2.02% annual percentage yield when you open a new Individual and Shared Protected Goals Account with qualifying activities.

 

Simple says: “How to earn a $250 bonus for each new Protected Goals Account (Individual and Shared): Open your new Protected Goals Account(s) by 7/31/19 4:59 p.m. PT. Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account(s) by 8/15/19 4:59 p.m. PT. Maintain a balance of at least $10,000 in each new Protected Goals Account through 10/31/19 4:59 p.m. PT. Eligible customers will receive the bonus credit to their Protected Goals Account by 11/15/19 4:59 p.m. PT.”

 

Need a place to stash your savings? Check out NerdWallet’s best high-yield online savings accounts

Checking & Budgeting
APY
2.02%
Monthly fee
$0
Balance to waive monthly fee
$0

at Simple,

Deposits are FDIC Insured

How does Simple compare?

Simple

Checking & Budgeting

NerdWallet Rating

at Simple

APY

2.02%

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

Axos Bank™

Rewards Checking

NerdWallet Rating

at Axos Bank™,

Member, FDIC

APY

1.25%

Monthly Fees

$0

Bonus features

No Monthly Fee

No overdraft/NSF fees

ATM reimbursements

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
HORRIBLE
This is BY FAR THE WORSE EXPERIENCE I’VE EVER HAD THEY WILL NOT RELEASE YOUR MONEY HORRIBLE CUSTOMER SERVICE NO AMSWER JUST TOLD I DONT KNOW AMD TO WAIT IT HAS BEEN 7 days still not answer they double charged my card and have a hold on my money and no reimbursement I would definitely never recommend this place as soon as I get my money I’m out
Overall
Customer service
Poor
Website / app
Fair
Rates
Fair
Fees
Fair
"Unbendable"
Multiple times I had an issue where the right thing to do was fairly obvious but couldn't be done due to "unbendable" policies. Imagine living in an unbendable world, that should word should be part of their mission statement. They aren't worth it, they have been eliminating features that they used to have instead of adding them.
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