[deleted]
Simple Bank Is Closing
131–140 of 615 posts
Re: Simple Bank Is Closing
#132Simple is without a doubt, not even close, the best bank app I have ever used. Simple as a bank is probably one of the worst banks I have ever tried to deal with. I very regularly wish that their app was a layer on top of other bank accounts, such that I could view my Chase account but from the Simple app.
Unfortunately, their banking business (not the app) was their core business, and they were absolutely awful at banking.
Re: Simple Bank Is Closing
#133[deleted]
Re: Simple Bank Is Closing
#134I highly recommend Charles Schwab for a checking account in the US. https://www.schwab.com/checking (I was a Simple customer at one point)
Why not BoA or Chase, for instance? Can you please highlight the key differentiating features?
BoA has had some anti-consumer habits in the past which caused me to burn almost all bridges with them. They were among the banks who would process all charges and deposits in a day starting with the largest charge and ending with the largest deposit. This let them ding you for many more insufficient balance fees (each small charge once you were below a $0 balance got you a new $25 or $50 fee; this hit a colleague and some acquaintances, I don't let my balances get that low). They also liked to tuck away account policy changes, like minimum balances, into the fine print. I had one account with them (wanted a physical bank and had moved everything else online) with the minimum $1500 balance to avoid any fees, they changed it to $1600 or 1750 and started hitting me with $25/month fees (reimbursed) because I'd failed to notice that policy change in the documents they'd sent. And the main reason, today, to avoid them is that their interest rates are terrible. Their CD rates are often below checking account rates at other banks (last checked in early 2020, not sure what their current rates are but a 10+ year history of horrible rates probably didn't change this year).
Re: Simple Bank Is Closing
#135I've been a Simple customer since launch, and have used it as my primary bank since ING Direct was turned into Capital One. It's mildly depressing to be reminded once again that the dream of startup founders these days isn't to build something, but to sell something... specifically to a bigger company. Which will inevitably delete the thing, once it serves its use. Which is to provide presence in some kind of defensi…
I cannot blame the founders. They worked hard and risked a lot and were successful so they want to cash out. Here's a radical idea. Maybe if countries care so much about keeping markets competitive, they could buy out late-stage startups to allow them to keep operating independently.
This isn't necessary. All the government has to do is block these acquisitions or shutdowns on simple antitrust grounds.
Re: Simple Bank Is Closing
#136I've been a Simple customer since launch, and have used it as my primary bank since ING Direct was turned into Capital One. It's mildly depressing to be reminded once again that the dream of startup founders these days isn't to build something, but to sell something... specifically to a bigger company. Which will inevitably delete the thing, once it serves its use. Which is to provide presence in some kind of defensi…
try radius
Re: Simple Bank Is Closing
#137I will miss them. I remember getting a debit card and a thick piece of cardboard with a rubber band that you could use as a wallet. I still use that thing now.
Re: Simple Bank Is Closing
#138Getting a Simple account in 2015 with its envelopes helped me get my spending under control and develop better financial habits. I'll miss the envelopes, but the budgeting habit already moved out to a spreadsheet.
Re: Simple Bank Is Closing
#139Earlier quoted context omitted.
My worry with most credit unions is that most of the ones commonly recommended have requirements for who can be a member, or are geographically tied. I'm unlikely to live in the same city for as long as I'd want to keep a bank account, and I'm not military or otherwise. Do you have a good recommendation for a CU that's more generally an option?
Alliant
Plus 1 to Alliant. Their savings rate is top-notch and their apps are pretty good.
Re: Simple Bank Is Closing
#140Earlier quoted context omitted.
Former C1 employee: I would give Capital One another shot. Their tech and apps are best in class and and built in-house. They also contribute to the open source community (or did).
I beg to differ. Notifications for transactions stopped working. As I always do when things like this happen, I went to twitter and tweeted at them. They claim it works, yet replies on twitter beg to differ. They support people point me to a document that shows UI elements which have been removed. Still broken. Still no word from them. And there's the issue about financial software. A couple of years ago they stopped…
I have been really frustrated with C1 not integrating with youneedabudget and Plaid-backed tools for quite a while now and intend to close my C1 credit account as a result. i know it's "as simple" as logging in to C1 and finding the transaction download tool but golly what a waste of effort.
https://support.youneedabudget.com/t/p8h6814/a-real-capitalo...