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BankSimple invites first customers; rebrands itself as Simple

simple.com

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Re: BankSimple invites first customers; rebrands itself as Simple

#81

Post by 286c8cb04bda »

bradleyland wrote: post #68
basseq wrote: post #58

My checking account is fundamentally a revolving cash account between a portion of my paycheck and my monthly bills (cc, mortgage, utilities, etc.). Other than autopay bills, all my purchases go through my credit card (which is then another autopay against my checking acct.). I manage all this at a macro level through Mint. I never visit my bank website, partly because it sorta sucks, but partly because I have no rea…

Simple's FAQ says no fees: https://www.simple.com/faq/ Although you may be referring to third-party ATM fees. I'm curious which banks still reimburse for third-party ATM fees. Can you share the name of your bank?

Not the OP, but I have a bank account at Schwab[1], and they refund all ATM fees that other banks charge.

[1] http://www.schwab.com/

Re: BankSimple invites first customers; rebrands itself as Simple

#82

Post by csears »

I suspect the (Bank)Simple guys went down the list like this when deciding on their new domain... SimpleFinanceTechnologyCorp.com (too long) SimpleFinanceTechnology.com (long, but register anyway) SimpleFinanceTech.com (meh) SimpleFinance.com (already taken) Simple.com (perfect!)

Re: BankSimple invites first customers; rebrands itself as Simple

#83

Post by doomie »

bradleyland wrote: post #68
basseq wrote: post #58

My checking account is fundamentally a revolving cash account between a portion of my paycheck and my monthly bills (cc, mortgage, utilities, etc.). Other than autopay bills, all my purchases go through my credit card (which is then another autopay against my checking acct.). I manage all this at a macro level through Mint. I never visit my bank website, partly because it sorta sucks, but partly because I have no rea…

Simple's FAQ says no fees: https://www.simple.com/faq/ Although you may be referring to third-party ATM fees. I'm curious which banks still reimburse for third-party ATM fees. Can you share the name of your bank?

SF Fire Credit Union (http://www.sffirecu.org/checking-savings/checking). No fees.

Re: BankSimple invites first customers; rebrands itself as Simple

#84

Post by Lewisham »

Did anyone else see this in the FAQ?

Who can use Simple?

To be eligible, you must:

- Be a resident of the United States and over the age of 18; - Have a Social Security number; and - Own a smartphone (iPhone or Android).

Do I really need to have a smartphone?

Well, you need to have an iOS (version 4.2 or higher) or Android device. Android phones and iPhones are preferable so that you can deposit checks using your smartphone’s camera and receive push notifications when you buy things.

I can't believe you need a smartphone to sign up. That seems absolutely crazy to me. Why can't you just accept scanned checks from a scanner? I would hazard more people have access to a scanner (even the one at work) than own a smartphone.

Re: BankSimple invites first customers; rebrands itself as Simple

#86

Post by damoncali »

buro9 wrote: post #16

I'm not sure I understand the proposition now. Who is the relationship with? As in... who has my money? I read it as them hiding that from you for simplicity... you get this one interface and customer service which is wonderful, but to achieve this they are the proxy to your bank? So... do they set up the bank accounts, or do you? Do you have the ability to go straight to your bank, or does Simple preclude that abili…

I don't get it either. I want to know who my bank is. I also don't find checking accounts and credit cards to be all that complicated.

My bank (USAA), for example, is pretty good. The idea of putting a startup between them and me just seems odd.

It all just seems like a glorified IT system for banks.

Re: BankSimple invites first customers; rebrands itself as Simple

#87

Post by TylerE »

Lewisham wrote: post #84

Did anyone else see this in the FAQ? Who can use Simple? To be eligible, you must: - Be a resident of the United States and over the age of 18; - Have a Social Security number; and - Own a smartphone (iPhone or Android). Do I really need to have a smartphone? Well, you need to have an iOS (version 4.2 or higher) or Android device. Android phones and iPhones are preferable so that you can deposit checks using your sma…

I'd hazard a guess that you're wrong. Dedicated scanners became totally obsolete for 99% of users with the switch to digital photography.

Re: BankSimple invites first customers; rebrands itself as Simple

#88

Post by sector »

al3x wrote: post #30
buro9 wrote: post #16

I'm not sure I understand the proposition now. Who is the relationship with? As in... who has my money? I read it as them hiding that from you for simplicity... you get this one interface and customer service which is wonderful, but to achieve this they are the proxy to your bank? So... do they set up the bank accounts, or do you? Do you have the ability to go straight to your bank, or does Simple preclude that abili…

Hi, cofounder of Simple here. We work with partner banks who hold on to deposits. For all intents and purposes, you never have to think about who that partner bank is, but if you ever need to contact them directly, you'll know where your funds are. You might find our FAQ informative: https://www.simple.com/faq/ .

I don't understand who I call when a problem arises. Do I call you, the anonymous partner bank, or is it simply impossible to call somebody if I have an issue?

Re: BankSimple invites first customers; rebrands itself as Simple

#90

Post by losvedir »

Sigh, still waiting for an invite. Got an email in October of last year saying I could get an account "at some point [this] year", so hopefully soon.

One question, though, I can't find on the site, is whether I receive any interest. And, if so, at what rate?

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