11–20 of 49 posts
I've been using Simple for the past 6 months and I've got to say I don't miss my brick and mortar bank one second. These guys are the perfect example of doing it right.
I am going to be in quite the conundrum when I get a Simple invite. On the one hand, I think what they're doing is awesome — for me, namely, the Safe-to-spend feature. I currently keep track of this in a not-so-accurate Excel spreadsheet and in my head. On the other hand, I currently use Perkstreet's debit card for everything and the 1% cash back adds up in a noticeably short period of time. I wonder if the 1% cash b…
EDIT: There's also no outgoing ACH transfers yet, which I really would like.
For anyone looking for an invite to Simple, I've got three available. Shoot me an e-mail (in profile). I've been using Simple for the past 6 months and I've got to say I don't miss my brick and mortar bank one second. These guys are the perfect example of doing it right.
I am going to be in quite the conundrum when I get a Simple invite. On the one hand, I think what they're doing is awesome — for me, namely, the Safe-to-spend feature. I currently keep track of this in a not-so-accurate Excel spreadsheet and in my head. On the other hand, I currently use Perkstreet's debit card for everything and the 1% cash back adds up in a noticeably short period of time. I wonder if the 1% cash b…
I am going to be in quite the conundrum when I get a Simple invite. On the one hand, I think what they're doing is awesome — for me, namely, the Safe-to-spend feature. I currently keep track of this in a not-so-accurate Excel spreadsheet and in my head. On the other hand, I currently use Perkstreet's debit card for everything and the 1% cash back adds up in a noticeably short period of time. I wonder if the 1% cash b…
The Durbin Amendment capped interchange for debit transactions, but only for banks with relatively large asset pools. Smaller banks can and do charge more, as do other types of cards. Credit cards have much broader license (although arguably, they at least have a reason to charge for using the card; they're taking a risk).
So the money you are getting is not free. We are all paying for it via the increased cost of doing business.
Honestly, I'd rather my bank and card transactions had 0 interest and minimal cost to the vendor to keep overall costs down. Bluntly, every time I swipe I sort of resent indirectly paying the vendor to help pay for everyone else's benefits.
Minor rant: I requested an invite and got one but they didn't have an Android app and thus wouldn't let me sign up. They were supposed to send out another invite once the Android app was available. I'm probably just being impatient but I am actually really interested in trying their service.
Minor rant: I requested an invite and got one but they didn't have an Android app and thus wouldn't let me sign up. They were supposed to send out another invite once the Android app was available. I'm probably just being impatient but I am actually really interested in trying their service.
For anyone looking for an invite to Simple, I've got three available. Shoot me an e-mail (in profile). I've been using Simple for the past 6 months and I've got to say I don't miss my brick and mortar bank one second. These guys are the perfect example of doing it right.
Just out of curiosity what's the big deal? I received an invite was reluctant to signup because there is an "inactivity fee". As far as I can tell it's just an online bank?
From their site: "After 180 days (6 months) of inactivity, we charge a $5 monthly fee to avoid escheatment,..."
I think if you were to switch to Simple it would be very rare to not use your card for 180 days, but that's just my 2 cents. But yeah, I wouldn't switch to only have an "extra account" that would eventually hit that 180 day inactivity time.