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.)
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.