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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.”

If we're going to be super technical, it's actually neither. Your Simple account is a Negotiable Order of Withdrawal (NOW) account, which is a deposit account that earns interest.

Functionally, your Simple account works just like a standard checking account except for the fact that personal checks and eChecks cannot be drawn off of it. (Although you can mail a check with our Payments feature.)

Your account can accept wires and direct deposits , and it supports pre-authorized withdrawals and interbank transfers through the Automated Clearing House (ACH) Network.

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