A careful and responsible customer’s conclusion - RUN AWAY NOW
I try to be evenhanded and fair in all my reviews. But the short answer is that dealing with Simple is like playing Russian Roulette using four loaded chambers out of six. I am not a whiner looking to blame the other guy, a screw-up with unreasonable expectations, or a malcontent looking for something to gripe about. I am perfectly OK with Simple (or any bank) taking reasonable common sense security measures, even when it causes some delay in availability of funds. I really wanted for Simple to work, and have bent over backwards to make this relationship viable. But my most recent experience went beyond the pale.
If you have a fairly straightforward financial life, have your paycheck direct deposited to Simple, don’t have any other bank accounts, and Simple’s very limited and very rule bound services meet your needs, you may be happy with them.
And if you drive 20 miles over the speed limit at all times, everywhere you go, you may never get a ticket.
But in both cases that happy glow you are experiencing is likely to be dashed before the ride is over.
I don’t have room, and you don’t have time for me to lay out the hot mess I experienced, so let me just give you the bullet points:
- I followed Simple’s rules to the letter
- Simple refuses to explain their actions or tell me how to avoid future problems
- They have created a $1,000 problem for me.
- The instrument involved was a USPS money order purchased by me at my post office the day it was deposited
- I did everything by the book according to their rules.
- Their was nothing remotely sketchy about the transaction
- Multiple Simple representatives, including supervisors have refused to discuss the facts of the matter with me (really) or explain what, if anything, I did wrong.
- With no feedback from Simple I have no idea what went wrong, or how to avoid problems in the future.
- Making deposits to Simple using legitimate “gold standard” financial instruments that they claim to accept, done properly and with care to get it right, is an absolute crap shoot.
As it happens, I can probably get this straight through the post office or my real bank (Simple is a fake bank in my book) and in this case I can live without the $1.000 for a few days. Will you be in a position to do that when it finally happens to you?
The answer is NOT Simple.