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

4.5

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
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

Radius Bank

Rewards Checking

NerdWallet Rating

at Radius Bank,

Member, FDIC

APY

1.00%

Monthly Fees

$0

Bonus features

No Monthly Fee

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
Good
Fees
Low
Awful Awful Awful
I tried to open an account and deposit required money in late August to take advantage of their promotion bonus. Simple failed to process the application in a timely manner then said I missed the deadline (September 16) for the promotion. I still cannot get my deposit back. They said they still have to process the application before they can return my money. So I lost the promotion money and the interest I would have received during the time they said they were processing my application and I don’t know when I will get my money back. Sounds like a scam to me. Simple sent a list of documents needed. I could not send the entire deposit amount (message said amount exceeded daily amount) so I sent 1/2 of the required deposit. I tried to send via my email account but kept getting an error message. Apparently not all email web addresses work with Simple’s portal. I copied the error message and sent to Simple via their support tab. I received no response. I called and they said to try another email account. I used my work email account to send the documents. I explained my concern about the deadline for the promotion. The representative said she would have the team expedite my application. I had her verify receipt. Then no status from Simple for a few more days. I called again - they said there was an issue with a photo of one of the edges of an image I sent - they said to re-send. I re-sent, again no response. I couldn’t deposit any additional monies because Simple put my account on hold. I called and was told they were still processing my application. I asked about the promotion and they said I didn’t deposit the required amount by 9/16 so no bonus would be paid. I requested they honor and pay the bonus because it was due to their delays in processing and their freezing my account so I couldn’t deposit the required amount. I then requested in writing that they close my account and return my money. Response I received today is that they are still processing my application and cannot close my account or return my money until they finish processing my application. Not a reputable company and not simple to open an account!
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
ABSOLUTELY HORRIBLE!
This so called “bank” is horrible! I had an issue where my account was compromised and $722.16 was taken. I sent them a support message at 5 am when I noticed it was withdrawn. I was told by the reps that they had shut down my account and not debits nor ACH transactions could be taken from my account. I infomrmed them that the money that was taken was for a VERY important bill and I requested a provisional credit. I sent in all the documents THE SAME DAY, and even provided proof as to why I needed MY money NOW. All I was getting was the run around. The worthless reps continued to say “We see this is important. We will send a message to “that” team” I called back in several times that day and that was al I was told. As of today, nothing still has not been done to give my money back. This bank is horrible, the reps are incompetent, the procedures that they have in place to help the customers, non- Existent...... Don’t waste your time using this bank.
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