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Simple Bank Is Closing

oregonlive.com

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Re: Simple Bank Is Closing

#71

Post by embwbam »

hundchenkatze wrote: post #67
uses wrote: post #16

I'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 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…

You can open multiple high performance savings account by going to the normal account application online. It has you login partway through the process and then adds it to your account

Re: Simple Bank Is Closing

#72

Post by noirbot »

_jal wrote: post #48
uses wrote: post #16

I'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 understand liking modern-feeling apps, but am more than happy to put up with the slightly old-feeling credit union app because they are just such a better institution - no bullshit fees, actually happy employees, far better rates on credit cards/loans... There's just no comparison. I do have a commercial bank account, too, but that's just for access to quicker interchange with other commercial banks, when that's ha…

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?

Re: Simple Bank Is Closing

#73

Post by zepto »

JMTQp8lwXL wrote: post #21
zepto wrote: post #7

I used and was happy with Simple from the very beginning, right up to the point they removed the check sending facility. It wasn’t the removal of the facility itself that caused me to leave. It was the utterly disingenuous statement from the CEO explaining the removal. They got a lot of pushback on this, and ultimately the CEO wrote a defensive followup which was slightly more honest, but confirmed his original disin…

The problem was assuming anybody, much less Silicon Valley, would be breaking the narrative of banks being honest institutions.

They really executed well on the promise up until the acquisition, which was why the change was so obvious and jarring.

I very much appreciated the straight talk at every level from their corporate communications to their support agents.

I don’t think it’s fair to be cynical about them in a more general sense.

It’s just a classic problem with the model of acquisitions, and a misaligned new CEO.

Re: Simple Bank Is Closing

#74

Post by da02 »

jasonpeacock wrote: post #60
uses wrote: post #16

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

Their app can also be used for no-fee stock trades.

Re: Simple Bank Is Closing

#76

Post by zepto »

orange_tee wrote: post #43
uses wrote: post #16

I'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.

The obvious retort would be to mention the problems with state ownership/control of companies.

However maybe you have a model in mind that doesn’t result in control ending up in the hands of the government.

If so, I’m curious!

Re: Simple Bank Is Closing

#78

Post by minton »

noirbot wrote: post #31

Even crazier, they seem to have un-sent the email? I got a notification that I had an email from Simple, but didn't check it immediately, and now it's completely gone from my email account. I've never seen that happen before.

This happened to me but it somehow ended up in Spam. I use gmail.
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