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Based in Portland, Oregon, Simple is a neobank, i.e. a bank operating fully online, without traditional physical branches. Founded in 2009, Simple offers quite a seamless banking experience through its online platform, providing easy-to-use budgeting and savings tools.

In partnership with BBVA USA, Simple has a line of FDIC-insured bank accounts, including several types of checking accounts, to meet the needs of different kind of customers, while maintaining their overall almost-fee-free checking account offer quite competitive, especially based on the traditional brick-and-mortar banks' banking deals. With free ATM access to over 40,000 Allpoint® ATMs, and all those advanced digital banking tools, Simple checking accounts could easily be called "no-brainers".

Furthermore, people can also apply for a personal loan or open a no-penalty certificate of deposit with Simple. Savings accounts aren't yet an option, although, as mentioned, a range of budgeting tools is developed to help people make better financial decisions, and achieve their financial goals more quickly and easily.

Currently only available to U.S. residents aged 18+, Simple checking accounts are:

  • Free Online Checking Account,
  • High-Yield Checking Account,
  • Simple Shared Checking Account.

Simple's checking accounts include a Simple Visa® Debit card, mobile check deposits, third-party payment service integration, as well as the abovementioned budgeting features, such as Expenses, Goals, and Safe-to-Spend®.

Additionally, Simple accounts don't have any monthly maintenance, overdraft, incoming wire transfer, stop payment request or dormant or closed account fees.

Bank Monthly Service Charge Minimum Deposit to Open APY
Simple Online Checking Account $0 $0 0.01% / 1.10%
Simple Shared Checking Account $0 $0 0.01% / 1.10%
Simple High-Yield Checking Account $0 $0 1.00%