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- $0 minimum starting deposit
- Checking account—earn 1% cash back on up to $3,000/m in debit purchases
- No monthly fees
- Access to 60,000 free ATMs nationwide
- High-yield money market and CDs
Simple Online Bank (BBVA) Review
ConsumersAdvocate.org
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Simple is an online bank that allows consumers to manage a bank account entirely via the mobile app. Banking services are provided by BBVA, a subsidiary of the Spain-based international bank, BBVA. Simple charges zero fees and provides its customers with convenient budgeting features to manage their spending and save up for future expenses.
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Top Rated
- $0 minimum starting deposit
- Checking account—earn 1% cash back on up to $3,000/m in debit purchases
- No monthly fees
- Access to 60,000 free ATMs nationwide
- High-yield money market and CDs
Second, its easy-to-use budgeting tools make it incredibly easy to save and stick to a budget. With its "safe-to-spend" feature, the user gets a more realistic picture of what they can spend, as it shows the balance taking into account upcoming bills and savings goals. Simple also offers an "Emergency Fund" and a Goals feature to help the customer establish a habit of saving.
On the con side, however, over 100 complaints have been filed against Simple with the Better Business Bureau. Customers report arbitrary account closures, checks that take much longer than normal to clear, and technical glitches that have made their money inaccessible. Some have also reported trouble in having fraudulent transactions reversed in their account.
Simple has plenty of great features going for it, however, consumer complaints - especially those involving account closures and inefficient handling of fraudulent transactions - are problems that still need to be addressed.