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

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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Always verify rates and promotions with the bank or credit union. We are not Simple; we are a rate comparison website and cannot provide official rates or promotions.

* 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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