Overall bank rating
The bottom line:
Editor's note, Jan. 7, 2021: Simple, a subsidiary of BBVA USA, has shut down. Accounts transitioned to and became serviced exclusively by BBVA USA. Read more about what the bank closure means for current Simple customers, and learn about alternatives worth considering. If you're in the market for a neobank account, see 19 alternatives.
Simple offered free, online checking accounts designed to be used mostly on your smartphone. It wasn't a bank, but partnered with a bank to offer insurance on its accounts. It had a Visa debit card and a handful of first-rate mobile banking tools.
- No monthly maintenance fees or minimum balances.
- 40,000+ surcharge-free domestic ATMs.
- No overdraft fees.
- No way to deposit cash directly.
- No bill-pay feature.
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
How we rate banks, credit unions and other financial service providers