I don’t know about you but I joined Simple when it was an invite only banking app. Back then they were selling it as an fee free online banking app that is smooth, fast, elegant, and yet simple. It was a cool app because back then online banking apps were a mess to look at. I remember being superbly pleased with this eye pleasing app that allowed me to lock debit card right away, transfer money instantly to other simple users, and had an easy option to send secure messages.
I had hoped the app with grow immensely with time but it didn’t. Simple still does not issue a check books but they continue to mail checks to whosoever you desire. Their support has reportedly gotten worse. They’re further limited through their banking partner and don’t allow non-citizen to signup. On the bright side they did attempt to innovate sharing an account so that was cool.
But is Simple still relevant in 2018 when other banking apps look (almost) just as good? Is it still relevant when transfer among big banks is instant through Zelle or when many banks are supporting next day ACH deposits? Well, I think so. I think no fee in still relevant today. Sure, more banks are doing away with minimum balance and monthly maintenance fee but Simple still remains one of the very few to not charge for overdraft fee.
Simple also remains as one of the few banks to allow money order (MO) deposits right through the app. You may check this flyertalk thread for outrageous details on how often and how much money order you can push through Simple. They’ve allowed MO deposits for several years and will likely continue to do so for many more and as such I suggest you take it slow and safe with them….play the long game!
Currently Simple is offering a $20 signup bonus. Again, you’ve to be a US citizen to be eligible to join. If you’ve a bunch of willing family members then it is easy referral money as well as a decent boost in your ability to deposit money orders.
$20 for both of us upon 1st purchase with your debit card