Using Your Shared Account

Using Your Shared Account

Moving money in

There are lots of ways to move money into your Shared account. If you’ve had your individual Simple account for a little while, you’re probably already familiar with most of them. To use these methods with Shared, just make sure you’re logged in and viewing your Shared account before you get started.

  • Set up Direct Deposit: You can find your Shared account number and direct deposit form by logging in, switching to the Shared view, and checking out your Account Settings.
  • Deposit checks: You can submit deposits directly into your Shared account through the mobile app with Photo Check Deposit. If you need to deposit by mail, just write your Shared account number on the back when you endorse it.
  • Move money to and from your other bank accounts: Use External Accounts to link any other accounts you own. Then, move money back and forth, fee-free. Fun fact: if you link another bank account to Simple, you’ll be able to transfer funds in and out, but your partner won’t be able to see your linked account or make transfers.

When you look at the Move money menu, you’ll also see a new option: Shared Account Transfer. If you're viewing your individual account, you can use this feature to instantly move money from your individual account to your Shared one. If you're viewing your Shared account, you’ll have the option of sending money, instantly, to either one of the connected individual accounts.

Features you can use with Shared

Practically all the features available for your individual account are also available with Shared! After you’ve logged on and switched to the Shared account, you can …

There's just one feature you won't see with Shared: Instant transfers have been replaced with Shared Account Transfers. If you’d like to make an Instant transfer to someone besides your partner, you’ll need to do that from your individual account.

Managing your Shared account

  • Both you and your partner can access the funds in your Shared account, see the transactions, and talk to our support team about that account.
  • However, only you can update your address or other contact information, schedule a transfer with an external account you linked, request a new card, or create a travel notice. (Also, our support team can only talk about your individual account directly with you.)

What if we only use Shared?

If you and your partner only want to use your Shared account, go for it! Though you'll still have an individual account (and you'll use it to update your contact information or send any Instant transfers, since Instant isn't available with Shared), you don’t have to make regular transactions or deposit funds. You can simply block your individual card and keep it somewhere safe.

Keep in mind though - if there's no activity on an account for about a year, that account may become dormant and temporarily unusable. Credits using your account and routing numbers (like direct deposit) won't work to keep your account active. You can contact us to reactivate your account, but it takes a few business days. Also, dormancy is account-specific, so a dormant individual account doesn't automatically mean your Shared account is dormant too.

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Important! This account is for your personal use only

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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