description Simple Overview
Simple focuses on budgeting and financial management. It offers a free checking account with automatic savings features and detailed spending analysis. The mobile app is intuitive and provides a clear overview of finances. While Simple has faced some challenges in the past, it remains a viable option for those prioritizing budgeting tools and a simple banking experience.
It's particularly useful for those new to online banking.
help Simple FAQ
Is the Simple banking app still active?
No, Simple permanently shut down its operations in early 2021. The digital bank was integrated and subsequently dissolved by its parent company, BBVA USA, meaning users can no longer access the app.
What made Simple different from traditional banks before it closed?
Simple was a pioneer in neobanking, offering a completely free checking account that was heavily focused on digital budgeting and savings goals. Its intuitive app provided a "Safe-to-Spend" balance that automatically factored in upcoming bills.
Who bought out Simple before it shut down?
The Spanish financial group BBVA acquired Simple in 2014 to expand its digital banking footprint in the United States. Ultimately, BBVA decided to integrate Simple's technology into its own BBVA USA platform before selling its US operations to PNC.
Were there any monthly maintenance fees associated with Simple?
No, Simple prided itself on having absolutely no monthly maintenance fees, minimum balance requirements, or overdraft fees. It aimed to make digital financial management as frictionless and transparent as possible.
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