I've been looking for a banking tool like this for ages, and i can't express how happy i am with the free structure (free) and transparency into how that works (the float as compared to mint's ad supported model). The ios app is amazing, everything has been great so far. Had a few questions and called customer support today and spoke to ryan in portland and he was able to both help me with my questions and explain the whys and hows behind what is currently available and what is coming down the pipe. Never in my life have i had an api conversation with a financial services representative. I'm very impressed - no complaints here.
The only downside to joining simple and shutting down all the other accounts, is you have no ability to write a check. I have also found the us postal service is not the most reliable way to send checks in a timely fashion, and checks do get lost in the mail
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.