by John Kim

Settle Up with Instant

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Simple customers have come up with some creative strategies for transferring money between Simple accounts. For example, we’ve seen spouses and partners manage household expenses by splitting direct deposits. We’ve seen friends settle up bar tabs with cash from ATMs or by sending each other checks through our Send Money service. Our customers have gone to this trouble because they’ve loved using Simple, but we’ve always wanted to make this a better experience.

Instant transfer funds for flying home to meet family Share money anytime you need to, from the everyday to the day you finally meet the parents.

Now with Simple Instant, spouses, partners, and friends who are Simple customers will be able to instantly move money between accounts. No holds, no checks, no fees, no wait. Just your money, in an Instant, with all the ease you’ve come to expect from Simple.

How it Works

You can add another Simple customer to your Instant contacts with just their email address and phone number. Once they’ve confirmed the connection, you’ll be able to send and receive funds instantly. Two-factor authentication during confirmation adds an extra layer of security without slowing down the process.

If you use Simple with a partner, you can make sure money for bills and expenses is where it needs to be. Instant is great for shared financial goals—like plane tickets home for the holidays—which could otherwise be a pain to purchase jointly. Roommates using Simple can pay back their share of monthly rent the moment it’s due. Friends and co-workers can quickly settle up for lunches, drinks, tickets, dinners, and evenings out.

A Piece of the Big Picture

Part of our mission is to help you track the story of your transactions. We’ve introduced tools like photo attachments, memos, and hashtags to help you track and tell your spending story. When you use cash to pay back a friend, you’ve lost a part of that story. We want to help you enrich and store all of your transactions, small and large–from the great guac at the new Mexican place you found to the gift you bought for your new baby niece. Simple Instant helps bring even more of your financial story together.

Simple Instant is available on the web now, followed by iOS and Android support. Learn more about it Simple’s other mobile banking features here.

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! This account is for your personal use only

An increasing number of customers are being targeted by fraud scams. Before you apply, review these guidelines to help prevent you from being involved in fraudulent activity.

Do not open an account on behalf of someone else
If anyone asks you to open a Simple Account to receive funds, it is an attempt at fraud. Common fraud attempts include requesting that you open an account to receive a gift or bonus offer, obtain a job or job training, or help someone else receive funds (such as unemployment benefits).

Do not share your login or account information with anyone
Neither Simple nor any other legitimate institution will ever ask for your account information. If any third party requests your Simple Account login information, it is an attempt at fraud. Sharing your account information with another person or allowing someone else to use your account to receive funds is a violation of the Simple Deposit Account Agreement terms and conditions and can expose you to fraud.

Actions we may take if fraud is suspected

We take fraud and security very seriously at Simple, and take rapid action in the instance of suspected fraud attempts.

We may freeze and close accounts
We may freeze and close accounts if fraudulent activity is suspected, including the following circumstances:

We will report fraud attempts
We are responsible for reporting fraud attempts to authorities, including attempted unemployment fraud. 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.

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