I have been with Simple since their inception and while the app has made very little breakthrough, it still is an elegant and simple banking app.
Few months ago they were offering $250/$500 saving account offer then they offered $150/$300 offer and now they are offering $200/$400 offer. Unlike the $250/$500 offer, this one is only available to new customers.
How to Earn $200
- Apply for a new Simple Account by 3/15/2020 4:59 PM PT.
- Deposit(s) totaling $10,000 or more must post to the new Account by 15 calendar days after enrollment 4:59 PM PT.
- Maintain a balance of at least $10,000 through 5/31/2020 4:59 PM PT.
How to Earn $400
- Apply for new Simple Account by 3/15/2020 4:59 PM PT.
- Deposit(s) totaling $20,000 or more must post to the new Account by 15 calendar days after enrollment 4:59 PM PT.
- Maintain a balance of at least $20,000 through 5/31/2020 4:59 PM PT.
When Will the Bonus Post?
- Qualifying customers will receive the bonus credit to their Simple Account by 6/15/2020 4:59 PM PT.
1.75% APY
- Balances in your Simple Account earn 0.01% APY. Also open an Individual Protected Goals Account to earn up to 1.75% APY and keep it safe from spending. Then we’ll use the combined balance between your Simple Account and Protected Goals Account to calculate your eligibility for the bonus.
Closing Thoughts
Not bad. The previous offer of $250/$500 had 1.90 APY but I’m not sure if that offer is coming back. It is also possible that they might offer similar offer for existing offer so in the meantime doing this offer as a new customer isn’t a bad idea. I should note that Simple has no fees.
