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.
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:
|FDIC Certificate #||19048|
|Return on Assets - YTD||0.6%|
|Return on Equity - YTD||4.19%|
|Annual Interest Income||$2.01B|
|Assets and Liabilities|
|Assets||Q3 2017vs Q3 2016||$84.70B$84.98B|
|Loans||Q3 2017vs Q3 2016||$59.54B$59.45B|
|Deposits||Q3 2017vs Q3 2016||$67.70B$67.86B|
|Equity Capital||Q3 2017vs Q3 2016||$12.20B$12.19B|
|Loan Loss Allowance||Q3 2017vs Q3 2016||$849.1MM$862.1MM|
|Unbacked Noncurrent Loans||Q3 2017vs Q3 2016||$680.2MM$1.13B|
|Real Estate Owned||Q3 2017vs Q3 2016||$22.0MM$17.9MM|
Sorry, we do not have rate data for Simple.
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