Account Type

Account Type


What type of account is my Simple account?

If another bank or financial institution asks “Checking or Savings,” go ahead and select “Checking.”

Your Simple account works just like a standard checking account. Your account can accept wires and direct deposits , and it supports pre-authorized withdrawals and interbank transfers through the Automated Clearing House (ACH) Network.

Do you offer savings accounts?

Nope, we don't offer dedicated savings accounts (although your Simple account has built in savings tools). This may change down the road; we'll keep you posted as we have news on that front.

Can I open a business account?

Not right now—Simple accounts are designed for personal use and they cannot be used for business purposes.

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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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