Simple Bank Is Closing • Hacker News Board

Re: Simple Bank Is Closing

#151

Post by ArchOversight » Thu, Jan 07, 2021, 9:37 PM UTC

war1025 wrote: post #145

bigie35 wrote: post #18

Earlier 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).

On the off chance you or someone else knows: How do I close old savings accounts in Capital One 360? I used to have my savings split between several buckets, and now I just keep it all in one savings account, but I have four savings accounts with $0 in them because near as I can tell you aren't allowed to close them.

You have to call them. It's the only way to close an old savings account in Capital One 360. It was relatively painless when I had to close my 4 buckets.

Re: Simple Bank Is Closing

#152

Post by ArchOversight » Thu, Jan 07, 2021, 9:38 PM UTC

BayAreaEscapee wrote: post #88

hundchenkatze wrote: post #67

Earlier quoted context omitted.

I started out on ING Direct as well, but I stuck with it through the Capital One transition. Overall I'm still happy with the checking/savings account features, no maintenance fees etc. The mobile app/website is pretty good. However the "desktop" website is annoying as it's just a scaled up version of the mobile one, but it still gets the jobs done. Unfortunately they've removed the ability to easily add multiple sav…

I started out on ING Direct and also liked the savings account feature. I created several saving accounts for when some website wants ACH routing information but I don't trust very much: I can put just enough in that account to cover the transaction I want covered. I didn't realize that they god rid of the ability to add new ones. I guess I'll have to make do with the eight I have lol.

It still works, it just isn't as seamless as before. Now you have to go through the "open account" flow, and half-way through you'll get an option to login and join an existing account, after that it is a couple of clicks.

Re: Simple Bank Is Closing

#153

Post by jjazwiecki » Thu, Jan 07, 2021, 9:39 PM UTC

I loved Simple when it started, but had to transfer away in 2018 after they rolled out some new security system which started flagging withdrawals from nearby ATMs, at stable local businesses, which I'd gone to for years, as suspicious transactions. Each time, I'd have to call to get my card unlocked. After three times, I begged their support people to please contact someone up the chain know I was closing my account because I literally couldn't get my money out. They were sympathetic but refused to countenance the idea that the transactions were incorrectly categorized.

Re: Simple Bank Is Closing

#154

Post by atlgator » Thu, Jan 07, 2021, 9:40 PM UTC

Azlo is also closing. They just sent word today. I wonder if it’s coincidence or they are owned by the same parent company (BBVA).

Re: Simple Bank Is Closing

#155

Post by noahtallen » Thu, Jan 07, 2021, 9:41 PM UTC

c4urself wrote: post #110

Sad to see them go, happy user for a long time as well -- anyone know what went wrong? Why did they sell to BBVA / is it just financially infeasible to run a web-based bank?

I don’t know why they sold to BBVA a while ago, but BBVA’s US operations just got sold to PNC a couple months ago. I’m guessing that simple is closing because there isn’t space for it at PNC.

Re: Simple Bank Is Closing

#156

Post by Shank » Thu, Jan 07, 2021, 9:41 PM UTC

BBVA is also closing Azlo, the business bank that Stripe Atlas uses (used?) for LLCs. Looks to me like BBVA is attempting to annoy as many customers as possible.

I love Simple to death. They overnighted a cashier's cheque for me, for free, on holiday. They've been nothing but kind and I truly hate to see them go. I really really loved being a Simple customer.

Re: Simple Bank Is Closing

#157

Post by misframer » Thu, Jan 07, 2021, 9:45 PM UTC

__david__ wrote: post #100

jasonpeacock wrote: post #60

Earlier quoted context omitted.

I use Ally, it's an online-only bank with a good website & app, and great customer service: https://ally.com/

FYI Ally is just a marketing rebrand of GMAC, one of the financial giants involved in the 2008 housing crash. That alone makes me steer clear of them.

I switched from Simple to Ally a few years ago and had 0 problems. I recommend them all the time.

Re: Simple Bank Is Closing

#158

Post by ArchOversight » Thu, Jan 07, 2021, 9:45 PM UTC

I was a Simple customer in their beta days, then stopped using it for a lot of things, eventually though right as they moved their partner bank to BBVA I switched and started using Simple heavily.

However not too long thereafter they got rid of their Bill Pay/Send a Check feature instead expecting me to send physical checks myself... which meant I immediately went looking for a new bank.

So I found Sofi instead.

Re: Simple Bank Is Closing

#159

Post by koolk3ychain » Thu, Jan 07, 2021, 9:45 PM UTC

IMO it seemed like in 2019/2020 with the advent of "consumer banking apps" that what the once "groundbreaking" features Simple provided had basically become commonplace. Or because of other banks at least half implementing them - it stymied the number of people who would actually switch to Simple or showed that people just didn't really care. At the end of the day, Simple provided a slick UI to get people to use their bank and it seems like there just wasn't enough of an edge to drive users to their underlying financial institutions. Privacy definitely wasn't as much of a big deal back when Simple started?

Re: Simple Bank Is Closing

#160

Post by kstrauser » Thu, Jan 07, 2021, 9:47 PM UTC

chipotle_coyote wrote: post #86

I loved Simple for a long time -- I was one of the "beta" customers -- but I switched away from them over a year ago. I'd already been annoyed with them over something seemingly trivial; I go by my middle name and last name, not first and last, and want my credit/debit card to match that, reading "Middle Last". Everyone else allows me to do this and Simple did allow that... until we all had to migrate our accounts fr…

I'm in the exact same boat about my name. I have literally gotten up and left a physical bank when they refused to issue my debit card under "Middle Last" instead of "First Last". There's usually some BS about "the law requires that...", which prompts me to stop them mid-sentence and show them my AmEx and Visa that are titled "Middle Last".

No. Your setup may require me to go by an alias, but that's a quirk of your own shortsightedness and not a regulation.