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Simplify Your Banking: The Benefits of Using Simple Bank

BANKING 101: EVERYTHING YOU NEED TO KNOW ABOUT SIMPLER BANKING

Banking is an essential aspect of our lives, and we engage in it every day without even realizing it. Although traditional banking practices have been in place for centuries, new approaches to banking are emerging daily, providing customers with more user-friendly banking solutions.

Simple bank is one such example, offering a modern approach to banking that caters to the needs of millennials and digital natives. In this article, we will discuss simple bank promotions, checking accounts, and the benefits of banking with them.

Simple Bank

Promotions

Round-up Rules

Saving money has never been easier with the Round-Up feature that comes with Simple’s checking account. Once you’ve set up your account, every time you spend, the transaction is rounded up to the nearest dollar, and the change is deposited into a separate Protected Goals account.

This account is a high-yield savings account that helps you save money passively. The money saved up can be used for emergency expenses or longer-term goals like rent deposits or vacations.

Fee-Free Banking

Did you know that according to a recent survey, 61% of millennials are willing to switch banks if they find better deals? Simple’s no-fee banking policy is a great reason to join this bank.

Simple doesn’t charge any monthly maintenance fees or overdraft fees. Plus, there are no foreign transaction fees, domestic transfer fees, or similar charges that you might encounter with other banks.

Budgeting Tools

When it comes to good financial practices, budgeting is the holy grail. Simple offers safe-to-spend, an automated budgeting tool that tracks your expenses and calculates how much money you have available to spend.

The safe-to-spend feature considers your bills, upcoming transactions, pending deposits, and your savings goals and came up with an amount that is safe for you to spend without going into debt. With Simple, you can set target savings goals, which gives you an idea of how much money you need to set aside each month to reach that goal.

Say goodbye to late fees and welcome automated savings.

Simple Bank Checking Accounts

Online Checking

Simple’s online checking account is exactly what it sounds like: an easy-to-use account that you can access anywhere, with just a few clicks. The account comes with features like mobile check deposits, bill pay, instant notifications to your phone or email, and a debit card that you can use for purchases.

Like all Simple checking accounts, there are no hidden fees or minimum balance requirements. Plus, you can transfer money between your Simple accounts or other banks in just a few clicks.

High-Yield Checking

If you’re looking to save for short-term and long-term goals, a high-yield checking account might be the perfect fit. Simple’s Protected Goals account is a personal high-yield savings account tied to your checking account.

With this account, you can save up for large purchases, like a downpayment on a car or a mortgage. You can also set up protected savings goals that offer you extra interest and keep the money locked for a while.

It’s a great way to save and earn interest in one place.

Shared Checking

If you’re in a relationship and share expenses, Simple’s shared checking account might be what you need. You can use it as a digital joint account with a partner, housemate, or anyone else you want to share expenses with.

You can use the account to pay bills, make deposits, and monitor your finances together in one place. Plus, if you both have individual accounts at Simple, you can transfer money between the accounts quickly and easily.

In conclusion, personal banking has come a long way, and Simple has taken banking into the digital age. With budgeting tools and banking solutions that cater to millennial lifestyles, Simple provides an all-in-one solution that is perfect for the modern-day.

Whether you’re looking to budget, save, or monitor your expenses, Simple has the options and features that meet your needs. Switch to Simple today and take control of your financial future.

Opening a Simple Account

Have you been wondering how to open an account with Simple Bank? The good news is, it is a simple process! The first step is to go to their website and click on “Apply Now.” The website will then direct you to a page where you can select the type of account you wish to open.

These options include a personal checking account, a joint checking account, and an individual or joint Protected Goals savings account. Once you have selected the appropriate account type, you will be asked to provide personal information, such as your name, date of birth, and social security number.

You will also need to provide your contact information, including your email address, phone number, and home address. Simple may require you to verify your identity by providing a government-issued ID, such as a driver’s license or passport.

Additionally, they may ask you to provide proof of address, like a utility bill or lease agreement. Once you have provided all the required information, you will be asked to fund your account using a debit card or by making an electronic transfer from another bank.

Simple Bank requires a minimum deposit of $0 to open an account, and there are no minimum balance requirements.

Customer Service

In case you encounter any challenges while opening your account, Simple Bank has a customer support team that is always ready to assist you. Simple’s support team is available via phone, email, and live chat, and they are known for their quick response times and helpfulness.

They also have a comprehensive FAQ section on their website that covers common questions. Simple Bank also offers in-app messaging to their customers, which makes it easy to communicate with customer support without having to leave their app.

This feature allows customers to get their questions answered quickly, track their messages, and receive notifications when a response is available. Is Simple Bank Worth Considering?

More people are considering online-only banking options for various reasons, such as convenience, accessibility, affordability, and more. Simple Bank is an online-only financial institution that offers several compelling features that make it worth considering.

Below are some of the advantages that make Simple Bank a worthwhile option.

Budgeting Tools

Simple’s budgeting tools are one of the highlights of their offerings. They include Safe-to-Spend, which helps customers determine how much they can spend at any given time without disrupting their regular bills and expenses, and Goals, which enables customers to set savings goals and track their progress over time.

These tools make it easier for customers to understand their income and spending habits better. Smart budgeting can help reduce one’s expenses and save more money in the long run.

Savings

The Protected Goals account, as mentioned earlier, is a great option for short and long-term savings goals. The account comes with a high-yield interest rate, and the savings goals are held separately from the checking account.

This separation allows customers to focus on their savings goals while earning interest and avoiding the temptation of spending.

Online-Only Banking

Simple Bank is an online-only banking institution, which has its advantages. It means they have lower overhead costs than traditional brick-and-mortar banks.

This cost-saving leads to lower fees for customers or even no fees at all!

Control Over Money

Simple Bank provides a higher level of control over one’s money than traditional banks. With the budgeting and savings options, monitoring recurring expenses, and instant notifications of every transaction, managing finances has never been easier.

Customers have total control over their accounts, which can lead to better financial decisions and a better financial life.

Promotions

As noted earlier, Simple Bank often runs promotions such as their Round-Up feature. The promotion encourages customers to save money without lifting a finger.

In conclusion, Simple Bank is worth considering as an excellent online banking option that provides customers with several features that cater to their financial needs. With its competitive interest rates, budgeting tools, savings goals, and no-fee policies, Simple offers a convenient and affordable banking option to consumers who prefer online-only banking.

Plus, with 24/7 customer support, opening an account with Simple Bank is convenient and allows you to have total control over your finances. In summary, Simple Bank offers a modern approach to banking that makes managing finances easy and accessible.

Through budgeting tools, savings accounts, and no-fee policies, Simple Bank provides a convenient and affordable banking option for those who prefer online-only banking. With customer support available 24/7, opening an account with Simple Bank is convenient and ensures total control over finances.

Overall, Simple Bank is worth considering for those seeking a banking solution that fits today’s fast-paced lifestyle.

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