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Simple Bank Is Closing
171–180 of 615 posts
Re: Simple Bank Is Closing
#172A while ago, I had a landlord who withdrew rent directly from my bank account[1] and who kept charging me rent after I had left. They also refused to return the money to me and insisted I file an ACH dispute through my bank, Simple. I was responsible for rent for me and my roomate, so being double charged rent for a month meant I was suddenly short two peoples' worth of rent.
Simple was super, super good about the whole thing. They gave me an interest-free loan for the whole amount and told me that if the dispute was successful (which it was), I'd just get to keep the loan. They also put an ACH block[2] on my account, and generally were super responsive in support.
Simple wasn't great for a lot of stuff you could expect from normal banks, like writing checks (for a while, you couldn't get a checkbook from them), cashier's checks, and money orders, but for everything else, they worked really well. I'm kinda sad to see them go.
[1]: I now know this is a bad idea. Always use a 3rd party or pay manually! [2]: ACH blocks are weak, but they're the only sort of protection against malicious actors like this. They prevent a specific amount of money from being withdrawn from a specific party, but there's no way to, say, block all withdrawal attempts from a party.
Re: Simple Bank Is Closing
#173I spent four years working at Simple, there are a lot of great humans there. Please reach out if there is anything I can do to help. As for the product, it was great to work on and there was so much potential simply left on the floor. Really a shame to see that none of that will be realized.
Do you know of any alternatives to simple that have a similar awesome budgeting tool with "safe to spend"?
Re: Simple Bank Is Closing
#174Earlier quoted context omitted.
Possibly OneFinance?[1] 1. https://www.onefinance.com/
I've been looking at it, it seems they have a "Pocket" feature that lets you transfer funds into separate "pockets" but you can't automate your savings, the only option being "Auto-Save - turn on and off the ability to automatically save 3% of every paycheck." The other option I'm seeing is SoFi Money, they have "Vaults" but I can't figure out if you can move money there automatically
I'm a SoFi user and I see the option to set up recurring transfers to vaults https://imgur.com/a/lOXI21u
Re: Simple Bank Is Closing
#175BBVA 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.
This is so frustrating, just got the email from Azlo today, prompted to check by this comment. No messaging on the site on login, nothing. Goodness.
Re: Simple Bank Is Closing
#176Been a huge fan of SoFi. They have similar features to Simple but offer a wider range of services
Just looked into them and apparently they are not a bank which I'm guessing means not FDIC insured. That gives me pause...
They're FDIC insured, or more accurately, the accounts lie at actual partner banks (SoFi being a fintech layer on top of that) that are FDIC insured.
Re: Simple Bank Is Closing
#177Wow, this is heartbreaking. Simple was extremely instrumental in my budgeting success. Anyone have a bank similar with features like "expenses" and "goals"? I honestly can't imagine not being able to use simple for my savings anymore.
Re: Simple Bank Is Closing
#178BBVA 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.
Try out Novo [1] https://banknovo.com
Re: Simple Bank Is Closing
#179Azlo is also closing. They just sent word today. I wonder if it’s coincidence or they are owned by the same parent company (BBVA).
Try out Novo [0] https://banknovo.com
Re: Simple Bank Is Closing
#180BBVA 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.
Try out Novo [1] https://banknovo.com
Just noticed their banner says, "Welcome Azlo Customers!" Pretty brilliant.