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! Keep your account safe from fraud

As fraud attempts are on the rise recently — especially related to unemployment funds — help us keep your account safe by following these guidelines.

Use your Simple Account only for your own personal use. Don’t share your account with others or receive funds on behalf of third parties.

Don’t share your username or password with others. Never give out your login information. Simple will never ask you to tell us your password — if any third party makes such a request, it’s an attempt at fraud.

Don’t open an account at someone else’s request. If someone else asks you to open a Simple Account — such as a real estate company, prospective employer, or someone you met online — it is likely an attempt at fraud.

Be alert for unemployment insurance fraud. You may be violating the law and the terms of your Simple Account if you receive deposits of unemployment funds on behalf of someone else. 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.

Don’t receive funds on behalf of a third party. Keep in mind that receiving funds on behalf of a third party violates the terms and conditions of your Simple Account; in such instances, we may restrict and/or close your account and hold the funds while we await direction from enforcement agencies.

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