Put save-up superpower right inside your Simple app (with no fees!)
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!
Enjoy the freedom to manage your money however works for you: no minimum balance and no withdrawal limits. Plus, you’re free from fees!
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.
Stick to your budget, save for your goals, and achieve money-management rockstar status—all in one awesome app.
With our intuitive mobile app, your bank goes wherever you do—and so does your financial confidence toolkit.
| FEATURES |
Simple Account (Checking) |
Protected Goals Account (High-Yield Checking) Simple Account Required 
 In order to open a Protected Goals Account or a 12 Month No-Penalty Certificate of Deposit, you must already have a Simple Account open, or apply for and open a Simple Account first. Accounts subject to approval. |
12 Month No-Penalty Certificate of Deposit2 Simple Account Required
In order to open a Protected Goals Account or a 12 Month No-Penalty Certificate of Deposit, you must already have a Simple Account open, or apply for and open a Simple Account first. Accounts subject to approval. |
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| 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
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| NO Monthly maintenance fees, no overdraft fees Generally, you are not allowed to overdraw your account. If it does occur, you will not be charged an overdraft fee. |
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| Paper Checks ($5 per book of 25) | |
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| Unlimited Withdrawals | |
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| Mobile Check Deposit | |
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| Manage your money from our iOS or Android App | |
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| FDIC Insured up to legal limits | |
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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 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.
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.
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!
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.
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Daily Collected Balances This means that we use the account’s end of day balance to calculate the interest earned that day. |
APY |
| $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.
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.
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.