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October 08, 2013
by Josh Reich

Looking Forward to Instant Transfers

Friends splitting bill for drinks

We don’t usually like to tip our hand, but we’re pretty excited about a vital new feature we’re getting ready to debut soon: instant Simple-to-Simple transfers. With these transfers, you’ll be able to set up a connection with any Simple customer so that you can send each other money instantly, wherever you are. There’s no need to write a check, and all of your instant transfers will be automatically categorized just like your Simple card swipes. You’ll be able to painlessly split expenses with housemates, or reimburse your friend who paid for your cab ride when you forgot your wallet last night. When you need to quickly send some money to someone with a Simple account, this feature will make it easy and hassle-free. And, of course, it’ll be fee-free, too.

When it’s ready, Instant Simple-to-Simple transfers will open the doors to much more innovation for us. For example, while we’re working on our shared banking tools, this will be a good interim solution for partners who share most or all of their expenses.

Innovating Banking As We Know It

This exemplifies one of the most important lessons we’ve learned while building Simple: we can improve banking by introducing incremental shifts in old paradigms, but to really move banking forward, we need to break the mold and build something new. In so doing, we create a unique banking experience that’s easy, beautiful, and even delightful.

We’ve already done a lot in that vein this year: we’ve built new features that allow you to block and unblock your card right from the Simple app. We’ve introduced Photo Check Deposit. We’ve partnered with Venmo Touch to make mobile check out a snap, and with Dropbox to add your PDFs, receipts, and photos to your Simple transactions. Not only have we improved Simple with innovative features, in a little over a year we’ve brought on almost 65,000 customers, and we’re now processing over $1.5 billion in transactions annually.

Bank to the Future

We’ve only just begun. We promise to keep moving banking forward, and we’re glad you’ll be with us for what’s to come.

*UPDATE: This post previously referred to a Simple feature called MoneyDrop™, which Simple no longer supports. This post has been updated to reflect this change. *