FAQ: Transitioning from Simple to BBVA USA

We hope to make the transition of your Simple Account servicing to BBVA USA as clear and easy as possible. Below you’ll find as many details as we have at this time—and we’ll update this page with more answers as we have them.

Transition process

What if my Simple Account balance is $0?

Instead of transitioning to BBVA USA, Simple Accounts that have had a $0 balance for at least 60 days will be automatically closed before the transition. Your account won’t be transitioned to BBVA USA, and you’ll no longer have access to your Simple Account statements or transaction history.

Will I be able to use the Simple app and budgeting features after the transition?

No. After your account transitions to BBVA on May 8, you will no longer be able to access or use the Simple app or Simple’s budgeting features (like Expenses and Goals). You can download the BBVA Mobile Banking app, which has several handy financial tools, to access your BBVA account on the go.

How do I get to my new BBVA USA account after the transition?

The first ime you access your BBVA USA account you'll be prompted to set up a new online banking login using your account number(s), debit card number, or your social security number. After that, just access your account through BBVA Online Banking or the BBVA Mobile Banking App.

Can I just switch my Simple Account over to BBVA USA now?

We’re unable to migrate accounts one by one; you’ll need to wait until all Simple Accounts are transitioned to BBVA USA—that will let you keep your same account number and debit card, plus all your transaction history. You can certainly apply for a new separate account with BBVA if you’d like; you’ll need to go through the application and approval process (which may include a credit check).

When will my Simple Account transition to BBVA USA?

The transition will happen on May 8, 2021. About two weeks before the transition, we’ll email you with instructions for logging into your BBVA account through BBVA Online Banking and by using the BBVA Mobile Banking app.

Do I need to do anything to transition my account?

No, everything will happen automatically—your Simple account balance will transition to your new BBVA account, and you will be able to access transaction activity and statements in BBVA Online and Mobile Banking.

What does transitioning to BBVA USA mean?

Since BBVA USA is Simple’s partner bank, your account is already housed and FDIC-insured (up to the legal limit) there. After the transition, BBVA USA will service your account—meaning you’ll access your account through their website or app, and some features and terms of your account will be different. After the transition, you’ll also call BBVA USA customer support directly for customer support.

If my Simple Account is closed before the transition, will I be able to see my old statements and transactions?

No. If you decide to close your Simple Account before the transition, you’ll no longer be able to log into Simple or access your statements, transaction history, or any other data. You can download all that info before you close your account—here’s how.

What if I don’t want to transition to BBVA USA?

You can simply close your Simple Account. We recommend that you transfer all your money out of your Simple Account first—then you can close the account yourself by following the steps here. Be sure to cancel any direct deposits or automatic payments you have set up too.

Will I be able to access my Simple Account after the transition?

You won’t be able to log in to Simple; you’ll only have access to your new BBVA USA account. All your Simple Account’s transaction history and statements will be available in your new BBVA USA account. However, you’ll no longer be able to see any Expenses or Goals you set up in the past.

Account numbers, debit cards, and checks

Will I need to change any direct deposits or auto-payments I have set up?

No—since your account, routing, and debit card numbers will be the same, you shouldn't need to change your banking info for direct deposits or auto-payments.

I have other bank accounts linked to my Simple Account—will I need to link those accounts to my new BBVA USA account?

Yes, after the transition, you’ll need to link external accounts to your new BBVA USA account.

Do I need to get new checks?

No, after the transition you can still use any Simple Checking Account checks you have. After the transition, you can order new checks from BBVA USA.

Will I get a new debit card?

No, you’ll keep the same debit card you have now. When your card expires in the future, BBVA USA will send you a replacement Visa® Debit card, which will have the BBVA USA logo instead of the Simple logo. If your card is lost or stolen, of course, we’ll get you a new one with a new number. Here’s how to block your card if it’s lost or stolen, and how to order a new one.

Do I need to change info in my digital wallet or third-party services like PayPal?

No—any service (like PayPal, Google Pay, Square Cash, Venmo, or Apple Pay) where you’ve linked your account or debit card number will work like usual after the transition.

Will my account number change?

No, your BBVA USA account will have the same account number as your Simple Account. That goes for individual Simple Checking Accounts, Shared Accounts, and Protected Goals Accounts.

How will I get any tax refunds, stimulus payments, or unemployment payments?

The same way you always have. If you set up direct deposit into your Simple Account for IRS or government payments, those funds will go into your BBVA USA account using the same account and routing numbers after the transition. You can check the status of your stimulus payment with the IRS Get My Payment tool.

BBVA USA accounts for Simple customers

What’s the difference between my Simple Checking Account and my new BBVA USA account?

Your Simple Checking Account will become a BBVA Simple Checking Account. While your account and routing numbers will be the same, the account names and some features will change. While many features are similar, there are some differences—get a detailed comparison here.

What about Simple Shared Accounts?

Simple Shared Checking Accounts will become joint BBVA Simple Checking Accounts, with the same features as individual checking accounts. Simple Shared Protected Goals Accounts will become joint BBVA Simple Savings Accounts—again, with the same features as individual savings accounts.

What’s the difference between my Simple Protected Goals Accounts and my new BBVA USA account?

Your Protected Goals Account is a high-yield checking account; it will be transitioned to a BBVA Simple Savings Account. The two most important differences are that you can make as many transfers as you like from your Protected Goals Account, but your new BBVA Simple Savings Account is limited to four transfers from the savings account per month in order to avoid the Excess Transaction Fee. Secondly, there is also a withdrawal limitation to avoid having your savings account converted to a non-interest bearing account. This limit is 6 per month. Learn more about transaction limitations and the differences between the two accounts here.

Do BBVA USA accounts have fees?

Your new BBVA USA accounts will incur fees for overdrafts or insufficient funds (NSF) transactions. There’s also a $3 monthly fee for paper statements. Your account settings will default to receiving paper statements, but you can easily opt out—after the transition, just go to the Service Center in your BBVA Online Banking account. Other fees may apply. For more info on account terms and fees, see the detailed comparison here.

Do BBVA USA accounts have Expenses, Goals, or Safe-to-Spend®?

No, BBVA USA accounts don’t have those specific budgeting features, but there are several handy budgeting features available through online banking and the BBVA Mobile Banking app. You can explore BBVA USA’s financial tools here.

What if I already have a BBVA USA account?

After the transition, you’ll wind up with two BBVA USA accounts—you'll keep whatever existing BBVA USA account you have, and your Simple Account will become a separate BBVA Simple Checking Account. If you already have online banking set up with BBVA, you can log in with your existing user name and password—you’ll see the new BBVA Simple Checking Account on your summary page after the transition.

CDs and personal loans

What happens to my Simple Personal Loan?

Your loan is already owned and serviced by BBVA USA. All that will change after the transition is that you’ll make your payments to them at their website. If you have automatic payments for your loan set up from your Simple Account, they will continue as usual (from your new BBVA Simple Checking Account) after the transition. If you don’t have automatic payments set up, it’s important that you keep making your payments on time as usual both before and after the transition.

What happens to my Simple No-Penalty CD if it matures before the transfer?

The funds in your CD (the initial balance plus all interest) will be deposited into your Simple Account as usual.

What if my Simple No-Penalty CD won’t mature until after the transition?

On February 25, 2021, Simple closed all CDs and paid out the full amount of interest that would have been earned if the CD had matured. Those funds were deposited into your Simple Account.

Using Simple now

I have other questions—how can I get help?

We’ll be updating this FAQ with more info as we have it, so please check back. Please note that our customer service agents can’t address questions about the transition at this time, and BBVA USA customer service agents will not have access to your account information until after the transition.

How do I transfer money out of my Simple Account?

You can transfer money to external accounts or use a third-party payment service.

Can I keep using my Simple Account between now and the transition?

Yes, keep using your Simple Account, app, and debit card as usual. Making purchases and moving money won’t change; if any other aspects of using your account change (such as the process for filing a transaction dispute), we’ll let you know. If you have questions about using Simple, you can find lots of info in our support articles.

Can I download my statements and transaction info?

Yes, you can download the entire history of your Simple account—here’s how.

What if I’m waiting for help with a disputed transaction or another account problem?

We’re working diligently and coordinating with BBVA USA through the transition to resolve all support requests—we’ll be in touch as soon as we can.

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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