Transactions
What happens when you swipe your card or ask a merchant to auto-debit your account?
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:
- an attempt to receive funds addressed to anyone other than the account holder (e.g., someone tries to deposit funds into your account that are intended for someone else)
- a customer shares their login information with another person (e.g., you give your password to someone else so they can use your account)
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.