Sending an External Account Transfer

Sending an External Account Transfer



info iconFirst things first

Before you send a transfer, you need to link your other bank account to Simple. Learn how to do that here:

Transferring funds

Feature availability is based on a variety of factors, including account age and history. You will see “Unavailable” when you attempt to schedule a transfer if the feature is not yet available to you. Keep using your account and the feature may be turned on in the future.

  1. Sign in to your account on the web.
  2. Select Move Money, and then Transfer to or from a bank.
  3. We'll start a transfer from one of your linked accounts into your Safe-to-Spend.
    1. If you'd like to schedule a transfer from your Simple Account: Click on the arrows to change the direction of the transfer.
    2. If you have more than one linked account: Click on the name of the linked account to see a list of linked accounts to choose from.
  4. Enter the amount you'd like to transfer, the date you'd like your funds to be withdrawn, and whether or not you'd like the transfer to recur.
  5. Tap Transfer into / out of Simple.

That's it! The transfer will be completed and the funds will be deposited into the other account a few business days later.

Transferring funds

Feature availability is based on a variety of factors, including account age and history. You will see “Unavailable” when you attempt to schedule a transfer if the feature is not yet available to you. Keep using your account and the feature may be turned on in the future.

  1. Swipe right to open the navigation menu.
  2. Tap Move money. Movemoney
  3. Tap Transfer to or from a bank.
  4. We'll start a transfer from one of your linked accounts into your Safe-to-Spend.
    1. If you'd like to schedule a transfer from your Simple Account: Click on the arrows to change the direction of the transfer.
    2. If you have more than one linked account: Click on the name of the linked account to see a list of linked accounts to choose from.
  5. Enter the amount you'd like to transfer, the date you'd like your funds to be withdrawn, and whether or not you'd like the transfer to recur.
  6. Tap Transfer into / out of Simple. That's it!

Quick facts:

  • Make sure you're ready for the transfer to go through (once a transfer request is submitted, there's only a brief window during which you can cancel it), and then tap the confirmation button.
  • Once you see the transfer in your Scheduled Activities, you can edit it to spend from a Goal.

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Transferring funds

Feature availability is based on a variety of factors, including account age and history. You will see “Unavailable” when you attempt to schedule a transfer if the feature is not yet available to you. Keep using your account and the feature may be turned on in the future.

  1. Sign in to the Android app, and swipe right to bring up the menu.
  2. From the menu, select Move Money, and then Transfer to or from a bank.
  3. We'll start a transfer from one of your linked accounts into your Safe-to-Spend.
    1. If you'd like to schedule a transfer from your Simple Account: Click on the arrows to change the direction of the transfer.
    2. If you have more than one linked account: Click on the name of the linked account to see a list of linked accounts to choose from.
  4. Enter the amount you'd like to transfer, the date you'd like your funds to be withdrawn, and whether or not you'd like the transfer to recur.
  5. Tap Transfer into / out of Simple. That's it!

Transfer Limits

Transfer limits vary and are based on a variety of factors.

Account Type 

New account - 30 days or less

Mature account - More than 30 days

Simple Checking Account

Outgoing: 

  • $15,000 daily 
  • $15,000 monthly 

Outgoing:

  • $30,000 daily 
  • $90,000 monthly 

Shared Checking Account 

Outgoing

  • $22,500 daily
  • $22,500 monthly 

Outgoing 

  • $45,000 daily 
  • $135,000 monthly 
  • "Daily" means a rolling 24 hour period, and "monthly" means a rolling 30 day period.
  • Transfers that are initiated outside of Simple are not subject to these limits.

Note: We may be able to increase your limit by request. Send us a support message and we can look into this for you.

How long do transfers take?

Incoming Transfers Outgoing Transfers
3-4 business days 1-2 business days
  • A transfer request that is submitted before 8:35 p.m. ET (5:35 p.m. PT) on a business day will start processing that day.
  • Incoming transfers arrive around 11:30 a.m.-1:30 p.m. ET (8:30-10:30 a.m. PT) on business days.
  • When you schedule a transfer, we'll show you both the date the funds will be withdrawn from one bank, and the date the funds will be credited to the other.

Why do transfers take this long?

  • These transfers take a few days because there are a lot of steps involved, and each step goes through the central ACH (Automated Clearing House) network.
  • Incoming transfers take longer because we have to send a transfer request to the other bank, wait for them to send the funds, and then finish processing the transfer.
  • Outgoing transfers are a bit quicker because there's no need to request the funds. We just send the funds to the other bank and they credit your account.

Can transfers be canceled?

It depends—you can cancel a transfer up until it starts processing. Head over here to learn more:

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Do not open an account on behalf of someone else
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