Simple Banking

Simple Banking

Simple doesn’t believe in traditional banking – they believe in eliminating the middleman. For instance, it can be a pain to have to transfer funds between banks. Each institution takes 2-3 business days to verify the accounts, and then another two days for the money to clear. With Simple, that waiting period is significantly shorter.

Simple is a retail bank that gives you free tools for handling all your banking needs – in one place. Their user-friendly interface allows you to check your balance, deposit checks, catalog your purchases and send paper checks through the mail. They have banking partners that maintain FDIC-insured accounts, so you never have to worry about your money. They also make everything easy.

It takes one day to transfer funds from an external banking account to your Simple account; three days to do the opposite. Their close of business time is 10pm EST, so you can focus on dinner and other evening tasks without stressing about your funds. It takes away the headache often caused by big banks.

What else does Simple do?

  1. They tell you how much money you really have. So few people balance their checkbooks these days (if they even have a checkbook) that we often overlook the amount of money we actually have in our accounts. Simple uses a Safe-to-Spend system that takes into account future expenses and responsibilities. So if your $300 car payment is due tomorrow, and you have $600 in your account, it wouldn’t be wise to spend more than $200. Safe-To-Spend tells you that.
  2. Gives you free access to ATMs around the county. Forget those pesky fees. Visit an ATM that is part of the Allpoint network (commonly found at drug stores, 7-11s and restaurants) and you’re cash won’t cost a thing. Not sure where an Allpoint ATM is? The Simple app will map out the closest location for you.
  3. Help you set goals for important purchases. Looking to buy a brand new TV? Create a “Goal” in your account, and when you deposit money, tell them how much you want put in to your TV fund. Simple will keep track of how much you need to obtain your goal (and based on your history, how much time it will take to achieve).

Simply put (pun intended!) their goal is for everyone’s banking needs to be easy. To be quick. To be simple.

Simple Layout

Simple shows you what is safe to spend and what you actually have.

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