Never thought I would actually get excited about my bank, but Simple is so awesome!
I had my card compromised made the company aware of the issue and they sent me a new one and it happened again!!! then they cancel me because 'I" failed to keep my information safe! unbelievable!! When attempting to speak to someone there they refused to actually speak to me and only thru the app. This was just a small balance account for myself for little things for my son and I to do things and they have left me high and dry. absolutely the worst customer service I have ever received.
The previous reviewer has Simple pretty much exactly. Their website and mobile app are great tools that work well and make budgeting easier than any other stand alone software I've found. Unfortunately, the banking side of things is riddled with problems. Check deposits adhere to arcane rules and delays (only the first 200 dollars is available the next business day, the rest clears at some point in the future), transfers from another bank take three business days to process, and recent maintenance introduced a host of check hold display errors. Using their integrated customer support messaging feature seems to be on a permanent three or four day delay, however calling customer support seems to work relatively well, but are only open during limited weekday hours.
One of the more deceptive thing that's advertised on the site is their range of fee-free ATMs. They list several chain businesses where one can "find free ATMs", however they must be through STARsf. I discovered this after finding a fee on my statement for a machine I used at one of the businesses listed beneath their finder. It was my mistake for not double checking, but this is definitely misleading.
If things like Schwab Bank (which offers same-day check-deposits, saturday hours, 24 hour customer support, and unlimited fee-free ATMs), Simple cannot compete. I will gladly use less elegant software and use a bank that works where it counts. I tried simple for two months and am rushing back to my previous bank.
I tried out Simple Bank for three months this summer. The things I really liked about Simple were the beautiful interface and the goals feature.
Problems began when I finally signed up. They never sent the card and it took a month and a half to receive it. I don't know what happened, but after talking to customer service a few times they said they would "overnight" it. It still took several days to receive.
I shrugged it off because I really wanted to try out the goals feature. I started transferring in funds and was initially satisfied. All was well. Then they did a huge maintenance update in August. After that, everything fell apart. Ever since then, they've had numerous glitches and bugs. Balances fluctuate for no reason and my card was locked out for 3 days during the update. I had no access to my own money. Since then, it feels like Simple has fallen apart.
Simple also won't let you write personal checks—they have to print and mail them out for you. A check I had sent to my business partner never arrived. That was extremely embarrassing. I tried to contact customer service for over an hour and couldn't get through. I used the messaging feature to contact customer service and it's taken three days each time to get a response. Very unreliable—the delay made me look very unprofessional to my partner.
I'm actually kind of sad about the whole thing because I had high hopes for Simple. They have a great looking website and customer service used to be great. I explained it this way to a friend:
Simple Bank is like taking a plain cheap $2 bundt cake from Walmart, and having Martha Stewart frost and decorate it in the most lavish fashion. It would look amazing, but would still taste like cardboard.
Simple has a beautiful website and app but the infrastructure is still deeply flawed.
In conclusion—I'm going back to my old credit union. They have a lame looking website, but at least they have it all together.
I have been using Simple for about 1.5 years and I am very glad I did! I have always had trouble saving money and Simple was absolutely a life saver for me. I had been making approximately the same income for 3 years and not managing to save any money. After using simple for one year, still making the same income, I managed to save $15,000!
Their customer support was excellent, every time I messaged them a question they would respond the same day. I usually prefer to communicate by message rather than phone so it worked out well for me. I also love their interface.
The best thing about this bank, is when you make a transaction it posts to your account IMMEDIATELY (as in within a couple of minutes at the most). So your displayed balance is never missing any transactions so you never end up thinking you have more money than you actually do. I have never experienced another bank with this feature. It takes away the need to independently keep a ledger of how much you spend.
HOWEVER. I would not recommend signing up for this bank today. For the last month or two, they have been having some major problems. I tried to have two checks sent a few weeks ago and have no idea whether or not they were ever sent. I sent them a message two days ago and they have not responded. I tried calling and they ask that you only speak to a representative about emergency issues. I stayed on the line for a few minutes and decided to keep waiting for them to respond to my message instead.
Fortunately, I have USAA as my backup bank, so I can send checks from there for expenses that I need to pay currently.
The experience I had in the past with an amazing online outweighs the current problems they are having, so I would recommend giving them a bit more time to figure out their issues and then signing up. I would strongly suggest keeping your old bank account as a backup and keep a small reserve fund in case they have issues in the future.
Opened an account because I liked the feature to send personal checks. One to my friend went alright after the first check sent and disappeared out of my transactions list and ended up sending two so I was refunded one. Then I tried sending a check to my college for tuition and they never posted it to my student account and now I'm waiting for a response to get a refund on my check that has found a black hole here on earth.
Not very satisfied. Now that I think of it, I would rather have a correct numerical balance on my account rather than a nice looking app and falsely led customer service. They've definitely got some tuning up to do and I'm not going to count on it being anytime soon.
The worst banking experience I can even imagine. I opened an account back in the beginning of August and have yet to receive a card from them. Without a card I have zero access to the funds in the account. I contacted support after about a week and was told, "There was an issue and we are FedEx overnight shipping the card". After another week passed I was told, "There was an issue and it will be resolved shortly". Over a month later, still no card. I have contacted support numerous times and have been continually told, "We are working on the issue, but do not have a time frame for delivery". It's pathetic. The only alternative they give me is to transfer the funds back into my original bank account if I want access to them. WOULD NOT RECOMMEND.
It's fantastic how the goals, payments, and when-to-work work together to give you a fantastic outlook of how much money you have and what you will need. It makes managing your cash flow so much easier! Also, the mobile app and website allow you to interact with your transactions at a much more meaningful level. You can mark a transaction as a friends night out and see all the related transactions, or for a specific trip or event and make it easier to find later on. Receipts can be attached, either a photo or document, to the transaction in case you ever need them.
Simple to is simply Best baking experience ever. The app is indispensable, the service and support is priceless. I'm almost hesitant to share because I don't want it to be ruined in someway by others. It's rare and amazing and I want it to stay that way.
First, I have written 4 reviews in my whole life, so I only write when I have conviction for something that I love or gives me great grief. I started off banking with Simple about two or three months ago and loved it. After this last update to their server, it has been one of the most challenging experiences that I have ever endured. It started with double postings in my spending log, at times it would give me inaccurate balances. Following this came the worst part....NOT MAKING PAYMENTS. I attempted to pay a credit card and send a check 3 times with no luck. After I let them know of my displeasure they gave me alternatives, including going through another bank?!? I thought their motto was that they wanted to replace my bank? After starting to migrate to another bank, I cancelled all scheduled payments through Simple. The real kicker is...yesterday they sent out a payment to my credit card and it wasn't scheduled. Customer service went south too, it takes on average 3 days to hear back from them and they will do whatever it takes to not get on the phone with you. I highly recommend avoiding this bank.
Another funny thing, they created a nice new shiny app to go along with their bank while these problems were unfolding. My suggestion, make sure you operate smoothly and manage transactions before trying to impress people with slick apps.
I was really interested by this bank but it has become nothing but a nightmare recently. I work outside of the country so an online bank is exactly what I needed. The problems started in the beginning of August. I went to the US to visit my family and sent some money to my simple account. At that time they updated their systems and I was one of the unlucky ones whose card did not come back online, leaving me stranded with no money at all (and this was my only bank) Customer services solution for me was to find another form of payments until they could fix the card (impossible they had all my money!)
Then it was finally fixed..but all payments started posting double to my account. Also the money keeps dissapearing. Currently my account is showing I'm in the negative but i should have over $100.
Another issue that is a little unique to my situation is I dont have a cell phone number but all things you try to do on your account need to be verified through a 4 digit pin sent to your phone. I can't send money or even change any settings on my account. Basically my money is held hostage right now by Simple. Customer service has also been very slow at responses lately.
The bank has potential but it just isnt there yet. Proceed with caution!
My experience with simple started out simply enough. I wasn't happy with my old bank and the idea of having a completely virtual bank sounded appealing. I slowly migrated to simple (being a little gun-shy on no longer having a check book) and finally switched over completely about two months ago. Everything was running fine until suddenly i received a notice that simple would be down for an evening (including atm usage). I figured that was strange for a bank, but thought nothing of it. I'm not sure if it was causal, but immediately afterwards is when my experience with simple fell apart. I had two scheduled payments that were suddenly never sent. Customer support at simple suggested that i find another way to pay my bills. Having *just* closed my old bank account i had to get money orders and deal with the hassle of mailing checks while traveling overseas. Furthermore, the contacts were completely dropped from my account and when the next payment cycle came up again the payments were never sent. The technical issues have now dragged into a second month and despite the warm communication from the customer service team, no end appears in sight. What is the point of having a bank that you can't rely on? What a shame.
I have had Simple for about three months. Their banks solutions aren't impressive but they are simple and it works. Lately I have been declined at stores and online even when I have money in my account. I tried calling but they direct you to their online system which tells you to wait. It has been seven days and I can't use my card. I'm glad I didn't jump ship completely and after this debacle I will be closing my account. The fact that they are overwhelmed by this is appalling. I would rather pay fees then not have access. This problem should never be considered ok.
I was lured in by the flashy advertising. I'll admit it. But this is the crappiest bank ever. I would hesitate to even call it such, most banks wouldn't allow the kinds of issues that I and many other customers have experienced. Since their recent "upgrade", I have not had one successful transaction. This was three weeks ago. Nearly a month. I can't receive money, I can't transfer money out, my account tells me I have no money when I do, it's ridiculous. Every time I've tried to do something, anything, I've had to call customer service, which tells me EVERY TIME that they've never seen this before and will have to get their "engineers" working on it. Bull. I have to wait for a final direct deposit from my employer and then I'm out. Be warned.
Ever since they updated the system things have all gone wrong. Slow to respond to to customer mail about problems. This was once a SIMPLE way of banking and I liked it. Looks like they sold it to some Mega Bank, so who knows what the future holds.
Understaffed, therefore all communication after outage MUST be done via web/msg. Cannot call and talk to a rep
Long response time once a rep has been assigned to you via web/msg
Spoke to rep about duplicate transactions on my account. Rep informed me that its possibly a fraud issue and locked down my card, hence I have no access to my money. Weird, since the company has been publicly stating this known issue for their customers.
Hold is placed on card EVERY time I purchase gas. I have to wait a couple of hours until hold is cleared in order to use my debit card.
When I signed up for simple I thought their customer service was supposed to be their selling point. I've been trying to get my card unfrozen for TWO days. I've had to endure extremely long wait times on the phone only to be told that they can't resolve my issue until their 'colleague' returns.
All of my service chats through the app have gone unanswered.
They've treated me like garbage and I'm canceling my account.
I would wholeheartedly warn anyone thinking of switching to simple to reconsider.
duplicate transactions, impossible to get a hold of a person, messages left on website go unanswered.
After their scheduled maintenance, accounts began duplicating transactions. I alerted Simple to this to which they said the duplicate transactions didn't affect your balance. I went back to the last month's ending balance and wrote down all transactions by hand and calculated the amounts. I was INDEED DOUBLE CHARGED. My true balance was higher by the exact amounts of the duplicated transactions.
If you are a current customer, make sure to DOUBLE CHECK YOU BALANCES! They did not actually review my account when I brought this to their attention but instead gave me the exact answer that is on status.simple.com. This is nerve wracking and makes me weary about leaving my money with this bank.
I gave them an extra star only because, yes, their reps are nice. Now, figuring that they did not actually fix my account nor take the time to review the balances, I wouldn't say that is good customer service.
Wish I could give zero stars. They are always promising that their latest improvement will make everything all better. Never happens. Do not bank with SIMPLE unless you want the most unpleasant experience ever.
this name didn't came from nothing.. it's best bank i have dealt in years.. friendly staff and excellent CS.
The bank is all the name applies, simple. The smart phone app will accurately show your money, and what you spend it on. You can easily categorize the purchases and the search feature is great. Yes trying to deposit a check via phone does take a while, good news is that they accept direct deposits. I hardly ever write a check so I am not bothered that this bank does not offer checks. I find them to be a waste of paper. Very easy to transfer money to external account also Simple users. They do have a LOT of atm's that you can pull money out of without a fee as well. Best part is when you call them, they help you. They are US based and are always cheerful. I can not tell you how man countless hours I have spent on the phone with BOA and other large company who in speaking to them you sometimes think that a conversation with a pet or wall might be more productive use of your time. The thing to keep in mind is that its not if something goes wrong but when, and what is your bank going to do to take care of you. This is what keeps me a simple customer versus wanting to bank with other large banks.
Simple's customer support is the best customer server I have ever experienced. The mobile app is easy to use (android). Using goals has helped me save quite a bit of money by tricking me to think I'm broke.
Down side is the lack of investing options.
Simple has the perfect name, they make my banking extremely simple. The customer service is incredible, the app on Android gets better and better every few months and it has made my life easier. I use to stress about money, it gave me anxiety because I always had a difficult time logging into my accounts online and trying to find out my balance. But all the banks I worked with never showed my most current balance. Then come the over draft fees. With simple I don't have to do any of that crap. I see what I spent right away!! Which has put me at ease!
I absolutely love simple and would recommend it for anyone that is frustrated with the banking system!
I first heard about Simple while reading a blog post in 2011 from J. Reich, Simple CEO. There is one quote that stuck out in my mind: "Simple replaces your bank, but we are not a bank." I think a lot of people don't understand simples mission. Simple is not attempting to be the next CitiBank or place where you buy bonds/CDs/invest, they are trying to improve the banking experience and they have succeeded tremendously. For someone to pursue the idea of interrupting the banking industry is very bold. Banks are giants in this day and age, it is very difficult for any newcomers to even stake a place on the map. The maturity of Simple is something I'm very pleased with as they are only a few years old. It has never been so easy to reach customer service if I had a problem. They post a lot of information online about how to best interface with the system. They are not a bank and I think a lot of people forget that when complaining about time limits and investments etc. They have focused on the most important thing for a customer and that is you. I wish all banks could learn from Simple, the world would be a better place.
We wired proceeds from a house into a new Simple account. Here is my first 7 days trying to get my money to use.
Day 1: Wired funds do not show up in my account. According to Simple customer service, it has shown up in their "partner bank", but it will not show up in Simple's account until the NEXT DAY. Which kind of defeats the purpose of wired funds, doesn't it? We set up an external account transfer to another bank, which they limit to $5,000.00 for the entire first 30 days of your account, apparently. Simple says the transfer will show up on Monday. We also "mail a check" to ourselves for $5,0000.00 on 7/20. Simple says it will be delivered by 7/24, Thursday.
Day 2-3: weekend
Day 4: The transfer does not occur. Our fault, actually because we sent it to an account that wouldn't accept personal names. However, Simple does not notify us that this does not occur. We find out later after we have written checks which have cleared and are getting NSF charges. Customer service will not reimburse any NSF charges and is happy to close the account. They make zero attempt at trying to retain you or being accountable for your awful experience. They send me a message letting me know I can always "transfer all the money to another external account." But when I bring up the $5k limit, they say, "oh yeah. But you can mail yourself a check". Yes, I want to mail myself a check that will take over a week and then take a check to another bank who will promptly put a 10-day hold on it. Brilliant idea, Simple!!!
Day 5-6: Try and transfer $5k out but am prohibited as the max is $5k/month for ALL EXTERNAL ACCOUNTS. I am stuck either having to "mail myself a check" which takes 5 business days, or using the debit card for an ATM, which just arrived today finally.
Day 7: The check I set up on Friday 7/20 has not arrived it is now 7/24. Apparently this takes 6 business days to get your check. I have sent a message to them, but not holding my breath.
Customer service hours are very limited. If you have an emergency after 6pm, you have to wait for them to call you back when they can squeeze you in on the next business day. Or you can email them which takes even longer. If someone has stolen your info, your money will be drained while you wait for them to get around to helping you!
This brings up another point -- security. They will accept any screenshot (which could be easily photoshopped) document as acceptable credentials to change your account information. Meaning someone can change your info with a simple image made up in MS Paint! Highly insecure.
Go to a real bank. These guys don't have their system together and you are the guinea pig they're testing on.
This sounded very good but I sent in the invite and filled it out including all my bank info. A week later, I got an information stating federal law required this. One thing they wanted was a notarized statement saying I wanted to open an account. Hmm they have my bank info and now they want proof I want to open an account. I have opened many accounts and never have had to provide a notarized statement. I don't trust banks that lie. I will be going to my bank to make sure they can not debt my account.
This is a great bank for those that are progressive and want a new way of banking that is innovative and easy but, be willing to accept a little change. Pros:
wonderful user interface. Easy and fun way to track your money. Setting goals is a great way to save money. - i wish you could setup start dates. One of the best banking phone apps i've ever seen. It really makes personal banking fun. Great customer service with the app and phone
no fees! Worries:
no checking - i cant say this is a con. They have ways to send checks from the website. I'd love to be able to write my own. I only write about 10 checks a year. So, maybe i have to try it from the website. Cons:
no joint accounts. - i'd like to be able to add my wife to my account - she signed up and we links accounts so i can send her money. So this really isn't a huge deal. It takes 7 days for transfers to actually hit my account. This is only in the case if i transfer money from my etrade acct to simple. My paychecks hit my simple account on payday so no worry there. I wish they offered a credit card - it would be nice to be able to link the credit card to my activity report. Bank rate. I don't think they offer any type of interest on your deposits. That is probably how they make money. All that said. This is a great bank if your looking for something that really changes the way you bank. Things are a little different from your traditional bank but, that's why i signed up! Change is a good thing and simple make banking.. Well... Simple.
I love Simple's straightforward, user-friendly approach to banking. The tools that it provides have made me more financially responsible. If I had to list the most useful apps of all time on one hand, Simple would deserve a finger (and not the finger that most other banks deserve!).
- The Safe to Spend feature is amazing. It's almost like placing your money in digital envelopes dedicated to goals such as rent or a food budget. This lets you glance at your account and instantly realize how much you can spend without performing mental math. Yes, most banks let you create separate accounts, but it isn't convenient or practical to create separate accounts for dozens of everyday savings goals.
- As others have said, the customer support is unrivaled. I can always reach a person in the U.S. within seconds if I have an important question about my account. No waiting; no automated tellers.
- You can instantly transfer money to other Simple customers.
- Simple is not for you if you often need to deal in cash. There isn't a convenient way to deposit cash into your account. But I rarely carry cash and I know very few other consumers who use it as their primary medium of exchange.
- Simple handles check sending and check deposits in a way that might not be familiar to you. For sending checks, it deducts the amount of the check instantly instead of waiting for the recipient to cash it. (If the recipient does not cash it, they'll refund the money.) For depositing, you may need to wait a day or two for the money to become available.
I was initially upset about the way Simple handles checks, but it became a moot point because Simple also made me more financially responsible. I've gotten into the habit of saving / investing money and planning ahead financially so that it's no big deal if a check takes a day or two longer to process.
I would strongly recommend Simple to a friend. It's one of the most useful services I've ever seen.