Benefits Of Your New Simple Account
Every aspect of a Simple checking account is optimized for branchless, online banking, so you have access to each feature wherever you happen to be, whenever you happen to need them.
Without setting foot in a bank (or a bank stuffed into an ill-fitting mobile app), have constant access to:
- Visa® Debit Card
- Deposits are FDIC insured
- Built-in budgeting and saving tools
- No Monthly Fees
- Instant transfers to other Simple customers
- Third-party payment services like Square, Venmo, and Paypal
- Block your card online if it’s been lost or stolen
Open A Protected Goals Account to Earn Up To 1.90% APY
A Protected Goals Account is designed to help you save in a separate high-yield checking account. After creating your Simple Account, you can open a Protected Goals Account, from the Goals tab.
- Tap 'Start a Savings Goal'
- Choose your funding method
- Review your summary and when you're ready, tap "Create Savings Goal"
- Once opened, you'll find your new Savings Goal listed under your Goals tab
Depositing Money Into Your Simple Account
There are lots of ways to get money into Simple, and the best one depends a lot on the situation. Here's a quick overview of the options:
- Transfer from another bank account
- Direct deposit
- Wire transfers
- Third Party Services
Like a bank, but Simple
Banking shouldn’t be complicated. Or unfriendly. We don’t profit from customer confusion. We wake up every day excited to help our customers feel more confident with their money.
The finest print: The rates are effective as of December 17, 2019, are variable and subject to change after the account is opened. Accounts subject to approval. Balances in your Simple Account earn 0.01% Annual Percentage Yield. In order to open a Protected Goals Account, you must already have a Simple Account open. For the Protected Goals Account, see the rates below.
Daily Collected Balances
This means that we use the account’s
end of day balance to calculate the interest earned that day.
|$0.01 to $1,999.99||1.75%|
|$2,000 to $4,999.99||1.75%|
|$5,000 to $9,999.99||1.75%|
|$10,000 to $14,999.99||1.90%|
|$15,000 to $19,999.99||1.90%|
|$20,000 and above||1.90%|
1 Check it out for yourself (based on the December 16, 2019 National Rate): https://www.fdic.gov/regulations/resources/rates/