Overview / Commentary
888-248-0632
1615 SE 3rd Ave #200
Portland, OR 97214
Reviews (2)

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.

Pros:
* 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.

Cons:
* 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:
http://www.whateverthehelliwant.net/2017/07/simple-bank-review/



Health
A+

Health Grade Components

Overall
FDIC Certificate #19048
Year Established1964
Employees10038
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.87%
Return on Equity - YTD6.25%
Annual Interest Income$1.54B
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$87.74B$83.95B
LoansQ2 2018vs Q2 2017$62.48B$59.14B
DepositsQ2 2018vs Q2 2017$70.51B$66.22B
Equity CapitalQ2 2018vs Q2 2017$12.22B$12.08B
Loan Loss AllowanceQ2 2018vs Q2 2017$860.0MM$817.0MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$677.9MM$791.4MM
Real Estate OwnedQ2 2018vs Q2 2017$16.5MM$21.9MM
Rates

Sorry, we do not have rate data for Simple.

Locations

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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