by John Kim

How Do I Transfer Funds to Simple?

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External Accounts

We’re stoked to bring you a fee-free option for transferring funds into and out of Simple. We’ve worked hard with our partners at The Bancorp Bank to build a beautiful funds transfer experience, and we hope you’ll love using it as much as we’ve loved building it.

How does it work?

With External Accounts, Simple customers are now able to electronically transfer funds between Simple and other personal bank accounts they own. To provide this service, we connect to the Automated Clearing House (ACH) network through our bank partner. We generate our customers’ ACH transfer files and manage any transfer issues that might arise.


At Simple we charge nothing for ACH transfers–in or out. At several of the major banks, you can expect fees of up to $6 for outbound ACH funds transfer requests. One of the most interesting things we learned while building our ACH service: It costs banks just a fraction of a cent to send an ACH transfer.

Get Started

We’re on a mission to help you spend smarter and save more. Personalize your purchases with photos and memos, get help from some of the smartest and friendliest people working in support, and save more than you’ve ever saved by using Goals. External Accounts is a great way to transfer funds into Simple and get started.

Learn more about Simple’s features that help you be more confident with your money.

Learn More

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple or our partner bank, BBVA USA, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.

Important! Keep your account safe from fraud

As fraud attempts are on the rise recently — especially related to unemployment funds — help us keep your account safe by following these guidelines.

Use your Simple Account only for your own personal use. Don’t share your account with others or receive funds on behalf of third parties.

Don’t share your username or password with others. Never give out your login information. Simple will never ask you to tell us your password — if any third party makes such a request, it’s an attempt at fraud.

Don’t open an account at someone else’s request. If someone else asks you to open a Simple Account — such as a real estate company, prospective employer, or someone you met online — it is likely an attempt at fraud.

Be alert for unemployment insurance fraud. You may be violating the law and the terms of your Simple Account if you receive deposits of unemployment funds on behalf of someone else. There are state and federal penalties for unemployment insurance fraud (including potential fines and incarceration). If you suspect you are a victim of unemployment fraud, contact the appropriate state fraud hotline listed here.

Don’t receive funds on behalf of a third party. Keep in mind that receiving funds on behalf of a third party violates the terms and conditions of your Simple Account; in such instances, we may restrict and/or close your account and hold the funds while we await direction from enforcement agencies.

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