Overview / Commentary
1615 SE 3rd Ave #200
Portland, OR 97214
Reviews (3)

A decent online bank

Deposits with simple are just that, simple. They have 0 fees and they deposits for checking are very fast, next day before 8am you're money is in your account if you make the withdrawal before 5pm the prior day. They have a savings feature and a goals feature in your checking account where you can save money easily and keep track of it all. The only thing i do not like about having a simple account is that every time i log into my ONLINE bank i have to put in a passcode that is texted to my phone. Its a bit annoying and cumbersome. There is no option to turn it off or request a different security check. When i got a new phone i had to switch numbers and when i put my new phone number in it did not send a text the next time i tried to log in and i had to contact support to get it fixed. The support team there is great very friendly and very willing to help i guess you can say they have good bed side manner? I was very impressed with the text support and how quickly they fixed my issue.

Love This Bank!

Posted by: katsehh | Jul 12, 2017

There are a good deal of cons, but for me the pros outweigh them by a lot.

* Fees are low and few.
* App is amazing. Clean and yet full of great features, like Goals, check deposit, photo attachments, memos, tags, and more.
* Scheduled Payments.
* Instantly block your card if you lose it.
* Instant notification for every purchase.
* Great customer service.

* Debit card, not credit.
* Low interest rate.
* No savings account (or any other account).
* Depositing cash is a hassle.
* No checkbooks. You can use the app to send checks to people, but you cannot write them yourself.

For more details, check out my full, detailed review:

Can't Write Customer Service, Account Denied With No Explanation

Posted by: unagi | Oct 9, 2018

The only way you can message them is by signing up for an account -- they have no email address -- or by sending a message via FB or Twitter, thus exposing your social media info. So I went ahead and applied for an account just so I can ask the question I posted in the forums here -- whether the 2% APY on the checking account applies to the "base balance" or only the balances within a "protected savings goal" (their T&Cs are ambiguous). But my application was denied with only a message that they can't ever tell me why. So I guess now there's really no way to ever message them! Oh well, I'll stick with my 1.6% MemoryBank checking account since they are so responsive and the account is straightforward.


Health Grade Components

FDIC Certificate #19048
Year Established1964
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.84%
Return on Equity - YTD6.03%
Annual Interest Income$3.25B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$90.06B$86.50B
LoansQ4 2018vs Q4 2017$64.37B$60.85B
DepositsQ4 2018vs Q4 2017$72.51B$69.60B
Equity CapitalQ4 2018vs Q4 2017$12.54B$12.09B
Loan Loss AllowanceQ4 2018vs Q4 2017$885.2MM$842.8MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$787.6MM$686.7MM
Real Estate OwnedQ4 2018vs Q4 2017$16.9MM$17.3MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Simple Savings Account Rates

2.02%*$2k*-Protected Goal Account
OTHER TIERS: 0.01% Up to $2k

Simple Checking Account Rates

2.02%$2k-Checking Account + Protected Goals Account*

Simple is an Internet only bank and does not have branch locations. Its headquarters is located at 1615 SE 3rd Ave #200 - Portland, OR 97214

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