Simple Customers Save More Than $1.2 Million Using Round-up Rules
More than 18,000 customers participate: Since the program’s inception in September 2019, more than 18,000 Simple customers have opted in to participate in Round-up Rules.
Round-up Rules savings hit $1 million benchmark in 4 months: Debit transactions are rounded up to an even dollar amount, and when the “change” is $5 or more, it’s transferred into customers’ high-yield checking accounts. Round-up Rules transfers are totaling more than $1.2 million since September 2019.
PORTLAND, OR – February 6, 2020 – Simple today announced its automatic savings tool, Round-up Rules, reached a benchmark of more than $1.2 million in customer high-yield checking accounts.
The optional Round-up allows Simple customers to have their debit transactions rounded up to the nearest whole dollar amount, and when the “change” is $5 or more, it’s transferred to their high-yield checking account.
“Our customers consistently tell us that they want to save money, but it can be a challenge to get started,” said Simple CEO David Hijirida. “We established Round-up Rules as a painless way to start saving money a little at a time.”
Since the program’s beta test in September 2019, followed by a full launch in late October, more than 18,000 Simple customers have opted in.
Hijirida says Simple remains focused on creating an integrated and automated budgeting and banking experience with its Goals, Expenses, Safe-to-Spend, and money movement Rules. “We have a wonderfully dedicated group of customers that value our budgeting software,” said Hijirida. “They tell us they have gotten out of debt, they don’t have to worry about what they can afford or can not afford to spend anymore, and we are adding more core banking products and tools to meet their increasing demands.”
“Our goal is to help our customers feel more confident with their money,” said Hijirida. “Round-up Rules is a great way to get started, and because the money that is rounded up is transferred to a high-yield account, their savings grows even faster.”
Learn more about Round-up Rules here.
Banking services provided by BBVA USA, Member FDIC.
# # #
Simple combines innovative technology, intuitive user experience, and expertise in behavioral economics to help its customers easily bank, budget and save. Simple customers receive a Simple Visa® Debit card that's tied to an FDIC-insured account with no surprise fees, and powerful budgeting and savings tools. Simple's banking services are accessible via web, iOS, and Android apps. For more information, please go to www.simple.com.