Simple Bank Checking Account – $20 Cash Bonus

Have you heard of Simple? It’s banking brought to brand new life through elegant mobile design, built-in budgeting and saving tools, a “we don’t charge fees” approach to fees, and a support team that’s fully, truthfully on your side. Simple is a newly formed banking software that focuses on reaching an individual’s financial goals through the creation and tracking of multiple savings goals through their website or mobile app. Start by signing up for a free account, creating a new goal with a custom name/purpose, and then setting up automatic savings transfers starting at $1 or more.

In addition, Simple offers spending & budget tracking features that enable you to oversee your spending habits to find more ways where you could be saving more money. Once you sign up to a free account, you’ll be given a Visa card that’s attached to your Simple bank account. From there you get access to all their features, including micro-savings goals, and the best part is, it’s FREE.

But wait, the benefits do not stop there. If you sign up today, you could score a $20 bonus! Once you successfully make your first purchase with your new Simple card, $20 will appear in your account. It’s a happy, hearty welcome to a more beautiful way to bank, budget, and save.

What Is Simple?

Way back when, in 2009, after another frustrating banking experience involving hidden fees, unnecessary products, long holds, and complicated conversations, Simple’s future founder Josh Reich emailed his friend (and future co-founder) Shamir Karkal, with some big questions:

• Why is banking so complicated?
• Can a bank exist to help people, not confuse them?
• What if banks didn’t charge so many ridiculous fees?
• What if your bank taught you to feel confident with money?

They have created an FDIC-insured checking account built to help you save money, and to support smart spending with built-in budgeting tools. The accounts are free, and they don’t charge fees. Their customer service is kind, helpful and human (in other words, talking to us won’t inspire you to start a bank of your own out of frustration). Sometimes, all it takes to change things is to start asking questions.

They hope that no matter what brought you here, whether you’re a poor poet in need of some budgeting help (true story) or a budget-wise financial wizard who wants an account to replace their spreadsheets (also a true story), a round-the-country-traveler in need of a banking experience to support that mobile lifestyle (oh hey, true again), you know that they see you. They see the banking industry and agree that it needs to change. And they’re working to change it for all of us.

Simple Banking Features

• Fee-Free Banking
  • Get a new FDIC-insured checking account and a Simple Visa® Debit Card, both backed by our partner bank, BBVA Compass.
• 40,000 totally free ATMs
  • That’s more than Chase and Bank of America had in 2016 combined! Find one near you.
• Instant Mobile Notifications
  • Stay aware and in control of every transaction.
• Link Your Other Accounts
  • Connect almost any of your checking or savings accounts to Simple, often in just a few seconds.

With Simple, optimize every dollar in seconds with built-in budgeting, tracking, & saving tools.

	Use Goals as digital budgeting envelopes. Designed with customization in mind, the Goals feature is nimble enough to replace your extra budgeting apps.
	Organize your spending in endless ways. Categorize purchases, spend from your Goals, and attach all kinds of info to each transaction: photos of receipts (or your friends!), documents, and searchable hashtags.
	Spend safely, spontaneously. Keep money for impromptu spending in your Safe-to-Spend (your available balance after Goals and bills), or give every dollar a specific job in Goals.

With Simple, you save automatically & spend thoughtfully. Set a Goal, choose an amount and end-date, then step back and let your account go to work for you. Savings so seamless, it’s easy to forget they’re growing.

Grow Goals and track spending all at once. Your Simple account automatically shifts money into your Goals every day, simultaneously tracking your spending. When you make a deposit, your Safe-to-Spend® goes up; when you spend money or move it into Goals, your Safe-to-Spend® goes down accordingly.

Simple Security

Your money is safe with Simple. Thanks to account security that goes above and beyond with superhumanly friendly (but still human) support. Their dedication to safe online banking runs deep. Your account and the people that support it are strongly dedicated to always have your back through:

• Two-factor authentication (2FA)
• Fingerprint unlock for iPhone and Android devices
• Simple checking accounts are FDIC-insured
• Your Simple card is protected by Visa’s Zero Liability policy
• Chip technology in your card for extra protection
• Photo Check Deposit to help you go branchless
• Easy money transfers, including Instant transfers to fellow Simple customers
• Our friendly Customer Relations team waiting to help you if problems arise (did we mention friendly? ’cause they’re very friendly. Oh, and super prompt)

If you’re ever separated, block your card with a tap. When it’s back in your hands, unblock it just as easily.

	If you’re ever separated, block your card with a tap. When it’s back in your hands, unblock it just as easily.
	Know the moment purchases happen. Instant push notifications let you know: *nudge* You just spent this, right?
	This little gold chip protects you with every purchase. It creates a single-use code for every transaction, which makes life really difficult for fraudsters. (And much more pleasant for everyone else.)

Simple Mobile Banking

Get mobile banking. All of Simple, everywhere you go. Built for adventure. Every aspect of a Simple checking account is optimized for branch-less, online banking, so you have access to each feature wherever you happen to be, whenever you happen to need them. Without setting foot in a bank (or a bank stuffed into an ill-fitting mobile app), have constant access to:

• Visa® Debit Card
• Photo Check Deposit
• Direct Deposit
• External Account Linking
• Instant transfers to other Simple customers
• Third-party payment services like Square, Venmo, and Paypal
• Block your card online if it’s been lost or stolen

	Transfer instantly with friends on Simple. It’s faster than passing around a crowd of cards the old fashioned way. Simple also plays nicely with Paypal, Square Cash, and Venmo.
	Never write another check. If you need one, they’ll print and mail it for you.

Simple Safe To Spend

Always know what’s Safe-to-Spend®. Spend spontaneously, without derailing your budget or bills (or doing math on the spot…).

Take the fear out of checking your account balance. Safe-to-Spend is a more accurate reflection of an available balance that represents your in-the-moment cash flow, accounting for future bills and budgets. It’s a smart budgeting tool that does the “can I afford this?” math for you, so you’re better prepared to make smart financial decisions on the spot. (We’re looking at you, English Majors.)

Get confidence in smarter spending. In the interest of transparency, let’s admit together: it’s hard to keep track of your budget and financial goals. Whether it’s because you’re too busy to double check, or too afraid to see a low account balance and feel ashamed, sometimes you spend money you shouldn’t.

Safe-to-Spend is a safeguard to keep you on track. Safe-to-Spend is your total available balance minus your Goals and any Scheduled Activities that will be withdrawn from your account in the next 30 days. It’s your own smart budgeting tool that, together with Goals, is the heart and soul of your Simple account.

To calculate Safe-to-Spend, Simple takes your account balance, subtract the amount you have earmarked for recurring bills and financial goals, and tell you exactly how much money you have leftover to spend on whatever you want. Say it’s payday, and you just want to know how much money you have left over after paying bills and setting some aside for your savings Goals. It can be even harder to keep track of that leftover amount as payments and spending money start to go out of your account. Safe-to-Spend updates in real-time—no more manual spreadsheet budgets or calculations scribbled on napkins. Just a pretty cool online budgeting tool built right into your account.

Simple Goals

Meet your financial goals. Save for anything. All at once or a bit each day. There’s no need for extra apps to budget and track your money. Goals make saving money easy and accessible, right inside your Simple checking account.

With Goals, your savings are hidden from your Safe-to-Spend, without needing a whole separate savings account. Your money’s right there, growing automatically bit by bit, or waiting and ready to spend on a budgeted expense. Goals can help you set long-term savings goals or manage your monthly budget. They’re flexible and customizable, ready to work with however you handle your finances.

How to set up a goal. Setting up goals in Simple is as easy as:

1. Hitting the Add New Goal button
2. Choose a name (like, “taxes” or “sweet treats for being such a responsible and good saver of money”), the amount you’d like to save, and pick a completion date.
3. That’s it! If you chose to save over time, money will be incrementally moved from your Safe-to-Spend to the Goal, a little each day.

	Use the Goals tool to stash money away in budgets. Like digital envelopes, Goals are for setting money aside for expenses.
	Or you can save for big things, a little at a time. Set an amount to save and a date to save it by, and let your Goal turn the hard work of saving into easy, everyday wins. Your Goal will automatically pull money from your Safe-to-Spend® daily.
	The happy day a Goal comes true. The money’s right there to bring the thing you’ve been saving for to life.

Simple Fees

Get fee-free banking. Simple does not charge fees. Really.

 You shouldn’t pay to use your own money. Banks make hefty profits by charging their customers various fees (and, unsurprisingly, creating confusing situations to inspire their due). Simple is changing the banking industry for the better: they’re set up to run without needing to profit from unfair, confusing fees. Simple won’t ever charge you fees. Ever. From the bottom of their hearts, they promise. Because people should win. Three cheers for people!

Below is their official fees:

Visa Network Fees:

Get a 40,000-strong network of totally free ATMs. Simple wants to be clear, though: owners of ATMs out of our network might charge you a fee. Find an ATM near you.

Author’s Verdict

We can all agree that banking can be confusing and frustrating at times. With Simple, it makes it just that. Simple. There are no fees that you need to worry about either! On top of signing up, receiving no fees, and having banking in your hands on your handheld device, you can earn a bonus for applying and making your first purchase! Get started today by signing up! If you’re interested in more bank promotions, see our list of the Best Bank Deals. Interested in a credit card, but not sure which one? See our Best Credit Card Categories to help narrow down the card that best suits your needs!