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

  1. Sign in to your account on the web.
  2. Select Payments & Transfers, and then External Accounts from the menu.
  3. Click on the account you'd like to transfer with.
  4. Choose which way you'd like the transfer to go.
  5. Enter:
    1. The amount you'd like to transfer.
    2. The date you'd like your funds to be withdrawn (the transfer will be completed and the funds will be deposited into the other account a few business days later.)
    3. Whether or not you'd like the transfer to reoccur.

  6. 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 hit Submit.

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.-12:30 p.m. ET (8:30-9:30 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  • When you schedule a transfer, we'll show you both the date the funds will be withdrawn from one bank, and the date the funds will be credited to the other.
  • External transfer dates

Why do transfers take this long?

  • These transfers take a few days because the 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:

Transfer Limits

Age of Account Under 30 Days Over 30 Days
Daily Limit $5,000 $10,000
Monthly Limit $5,000 $30,000
  • "Daily" means a rolling 24 hour period, and "monthly" means a rolling 30 day period.
  • These limits only apply to transfers initiated through Simple—we don't place any limits on transfers that are initiated by other institutions.

Transferring funds

  1. Sign in to your account on the iOS app.
  2. Go to the Payments & Transfers tab: move money icon
  3. Click on the external account you'd like to transfer with.
  4. Then choose To Simple or From Simple, and enter the amount that you would like to transfer.
  5. Next, select the date you'd like the transfer to be withdrawn and whether or not you'd like the transfer to reoccur.
  6. 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.
  7. Once you see the transfer in your Scheduled Activities, you can edit it to spend from a Goal.

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.-12:30 p.m. ET (8:30-9:30 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.
  • External transfer dates

Why do transfers take this long?

  • These transfers take a few days because the 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:

Transfer Limits

Age of Account Under 30 Days Over 30 Days
Daily Limit $5,000 $10,000
Monthly Limit $5,000 $30,000
  • "Daily" means a rolling 24 hour period, and "monthly" means a rolling 30 day period.
  • These limits only apply to transfers initiated through Simple—we don't place any limits on transfers that are initiated by other institutions.

Transferring funds

Once you’ve linked an external account, you can schedule a transfer.

  1. Sign in to the Android app, and swipe right to bring up the menu.
  2. From the menu, select Payments & Transfers, and then External Accounts.
  3. Click on the external account you'd like to transfer with, and then select whether you'd like to transfer funds to or from Simple.
  4. Enter the amount that you would like to transfer
  5. Next, select the date you'd like the transfer to be withdrawn and whether or not you'd like the transfer to reoccur.
  6. Check the timeline and 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)
  7. Hit that Transfer button!

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.-12:30 p.m. ET (8:30-9:30 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.
  • External transfer dates

Why do transfers take this long?

  • These transfers take a few days because the 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:

Transfer Limits

Age of Account Under 30 Days Over 30 Days
Daily Limit $5,000 $10,000
Monthly Limit $5,000 $30,000
  • "Daily" means a rolling 24 hour period, and "monthly" means a rolling 30 day period.
  • These limits only apply to transfers initiated through Simple—we don't place any limits on transfers that are initiated by other institutions.
Did you find this article helpful? Yes / No
Aw man. Thanks for letting us know!