by Joshua Reich

Introducing Simple

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On September 21st we offered a first look at what we’ve been building. Our employees and board members have been using and enjoying their test cards for some time, but today is a big day: we’re inviting our first non-employee customers to sign up and join us.

We’re thrilled to be welcoming our first customers. We want to understand what works for them and what can be improved. We also want to learn how our customers prefer to reach us so that we can intelligently grow our customer relations team. Using this feedback, we’ll rework and revise; the experience we’re launching today will continuously evolve. There is still a tremendous amount to be done, but as of today we are live to our first customers, and that’s a huge milestone for us.

Today is a new beginning for another reason as well: BankSimple is now Simple. Simple is a better representation of what we aspire to. It releases us from the constraints of an industry in desperate need of innovation.

Using Simple, you can make purchases with a Simple Visa® card, pay bills, earn interest, set up and track savings goals, and much more. Simple replaces your bank, but we are not a bank. You use our mobile and web apps and speak with our customer relations team when you have questions. We partner with chartered banks that hold your deposits in FDIC-insured products. They take care of money, we take care of customers, and together we’re delivering a new type of financial experience that’s easier, faster, and friendlier.

Simple is a clear and powerful reminder of our purpose, and we’re excited to write our next chapter under this banner.

Update - It’s been almost six years since Josh wrote this blog post to introduce Simple to the world. Since then, we’ve grown, changed, and partnered with BBVA Compass.

If you’ve been with us since the beginning, thank you so much! There’s no better time than now to try Simple and replace your traditional bank, and there’s something in it for you aside from the obvious benefits. If you refer a friend to Simple, you can get a free Tanner Goods wallet. Ready to switch to Simple?

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 Simple.com, 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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