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Simple Customer Review

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cruffenach's Profile Image

5 out of 5 marks

Reviewed by cruffenach

Feb 12th 2013

Next Generation Banking

Simple has 3 specific offerings that make it the best consumer banking solution in the US.

1. Simple's financial incentives are in line with their customers. Simple makes money on interest and interchange. No fee revenue. While not the "sexiest" detail, this makes them fundamentally different from every other retail banking experience.

2. Simple is a technology company. Their web and mobile offerings are in a different class then any other bank. Design and UX are huge priorities.

3. Customer service. Contact Simple. Seriously, do it. (888) 248-0632 or @simplify on Twitter. Real people who really care. I know it's hard to believe, but try it for yourself.

Is this review helpful? ▲ Yes 4 ▼ No 0

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tres1162's Profile Image

Reviewed by tres1162

Sep 13th 2014

1 out of 5 marks

Why I'm Closing My Account

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.

Is this review helpful? ▲ Yes 2 ▼ No 0

TheMonopolyMan's Profile Image

Reviewed by TheMonopolyMan

Sep 15th 2014

1 out of 5 marks

Simple Banking? More Like Awful Banking

If you bank with monopoly money and don't care about having correct balances, being charged multiple times for the same purchase, or even just being able to use your debit card to buy dinner for your date, then "simple" is great! However, if you tend to use real money and care about having that real money available, then "simple" is god awful! These people should be shut down.

Is this review helpful? ▲ Yes 2 ▼ No 0

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