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High-yield checking account: Earn 0.50% APY

Put save-up superpower right inside your Simple app (with no fees!)

Free checking + a high-yield checking account that helps you save

Think of your Simple Account as a super-smart wallet: free checking that keeps your finances organized. Make that wallet even better by adding a secret coin purse alongside it—a high-yield account to tuck cash, where it earns interest and won’t be spent until you need it.

First, open a free Simple Account for day-to-day spending. Then you can open a high-yield account to set aside money you want to save up—it’s called a Protected Goals Account because your money’s protected from accidental spending. Your cash is stashed but never out of reach—instantly transfer money to spend anytime with your Simple app!

No fees, no limits = banking freedom

Enjoy the freedom to manage your money however works for you: no minimum balance and no withdrawal limits. Plus, you’re free from fees!

Online banking made Simple

Real support from real humans

Anytime you have questions, just give us a call—you’ll talk to a real, helpful human every time. Call (888) 248-0632 or visit our support center.

Budgeting is built in

Stick to your budget, save for your goals, and achieve money-management rockstar status—all in one awesome app.

Bank anywhere, anytime

With our intuitive mobile app, your bank goes wherever you do—and so does your financial confidence toolkit.

Simple's suite of better banking

FEATURES Simple Account
Protected Goals Account
(High-Yield Checking)

Simple Account Required
12 Month No-Penalty Certificate of Deposit2

Simple Account Required
Earn interest on your funds (compounded & paid monthly) 0.00% APY1 0.50% APY1 0.40% APY2
Minimum deposit to open $0 $0.01 $250
Simple Visa® Debit Card
  • EMV chip enabled
  • Apple Pay, Google Pay, Samsung Pay
  • Block your card if lost or stolen
  • Access to over 40,000 no-fee ATMs

Built-in Budgeting Tools

Goals : set an amount and a date to save by to contribute savings automatically
Rules: a suite of automatic rules to make saving effortless     
Expenses: digital envelopes for recurring bills and expenses
Safe-to-Spend: your available balance factoring in expenses and goals
NO Monthly maintenance fees, no overdraft fees
, free incoming wire transfers, free stop payment requests, no account closure fees
Paper Checks ($5 per book of 25)
Unlimited Withdrawals
Mobile Check Deposit
Manage your money from our iOS or Android App
FDIC Insured up to legal limits

Your top 3 need-to-knows

How do I open a Protected Goals Account?
First, open a Simple Account—free online checking + budgeting in one! Then open a Protected Goals Account that lives alongside it. (Kinda like a motorcycle sidecar, but for your savings!) If you’re already a Simple customer, here’s how to get started!

How do I spend money from my Protected Goals Account?
Just use your Simple app to instantly transfer funds from your Protected Goals Account into your free Simple Account any time you want to spend what you’ve saved! Until then, your stash is collecting interest and protected from spending...because it’s in a Protected Goals Account (see what we did there?).

How is my Protected Goals Account different from a savings account?
Since it’s a high-yield checking account, there are no limits to how often you can take money out. Plus, you can use Simple’s automated budgeting tools to move money into your Protected Goals Account a little bit at a time to grow your savings effortlessly.

What the Simple community is saying

What a great design and concept. You need this! I have all my expenses always covered automatically. And a Protected Goals Account with $5,000 that I forgot I had, because I built it up by just transferring extra money to it. Love it.

Simple Customer

If you’re looking for something that helps you manage, save, and budget your money, this is it. Seriously, just try it. The Goals and Expenses in app, on top of the APY and the Protected Goals Account functionality—so good.

Simple Customer

I LOVE it. So easy to use and not as confusing as your typical banks. It's even helping me to save up money (I’m eternally bad at that) with Round-up Rules into my Protected Goals Account!

Simple Customer

Combine your saving superpowers

Share big dreams with someone else?

Open a Shared Protected Goals Account along with your Simple Shared Account — then just sit back and watch your combined cash grow with 0.50% APY.

1APY means annual percentage yield. The rates are effective as of December 10, 2020, are variable and subject to change after the account is opened. Balances in your Simple Account earn 0.00% Annual Percentage Yield. For the Protected Goals Account, see the rates below.

The finest print: The rates are effective as of December 10, 2020, are variable and subject to change after the account is opened. Accounts subject to approval. Balances in your Simple Account earn 0.00% 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 0.50%
$2,000 to $4,999.99 0.50%
$5,000 to $9,999.99 0.50%
$10,000 to $14,999.99 0.50%
$15,000 to $19,999.99 0.50%
$20,000 and above 0.50%

2The rate is effective as of December 10, 2020 and is subject to change without notice. You may not close your CD within seven (7) days of opening your CD. After the seventh (7th) day, you may close your CD without penalty. Accrued interest is credited on a monthly basis. If you close your CD before accrued interest is credited, you will not receive accrued interest. You must keep your primary Simple Account open in order to have a CD. If you close your Simple Account, your CD(s) will also be closed.

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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