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Closing Your Account


If I choose to close my account, what's the process?

We need your request for closure in writing, so when you’re ready to close the account, all you need to do is send us a support message. There is no need to call.

To prepare your account for closure, empty it by spending your funds or transferring the funds to another account. You’ll also want to make sure that all direct deposits and pre-authorized withdrawals are switched over to another account. If your account is closed with more than $1.00 we will mail you a check within 2 weeks of closure.

What if I want to close my Shared or Protected account?

You can close your Shared and/or Protected Account and keep your Simple Checking Account open, or you can close all of your accounts. Just send us a message and our support team will start the process for you. Let us know which accounts you would like to close. If you choose to keep your Checking Account open please transfer any funds in the accounts you would like to close to your Checking Account.

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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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