- Editor Rating
- Rated 3.5 stars
- Very Good
- Simple Mobile Bank
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Simple Bank, which partners with The Bancorp Bank, is a mobile-only bank account that is available for Android and iOS devices. Because of it’s unique nature and lack of fees, we’ve included it on our list of the best free Checking accounts.
About Simple Bank
Very similar to Moven, the Simple bank account is a more streamlined way of managing your personal finances using your smartphone. Like other banks that don’t operate in traditional branch locations, Simple doesn’t charge any fees.
The funds in your Simple account are held by The Bancorp Bank, and is FDIC insured up to the maximum $250,000.
Any permanent resident of the United States over 18 years of age that have a Social Security number can use a Simple account.
You’ll also need to own a device that can run the Simple mobile app on either Android or iOS.
While you can access most features through the web, Simple is more streamlined through their mobile app, which will let you do Photo Check deposits.
There Can Be Fees You Should Be Aware Of
While Simple does not charge any fees on their end, you should still be aware of these situations where you can incur a fee:
- If you use an ATM outside of their fee-free network (Allpoint), the ATM owner may charge a fee.
- If you use your Simple card internationally, Visa will include an International Service Assessment (ISA) fee of up to 1% of the total transaction amount.
Simple Account Features
|You’ll receive a Simple Visa Card, which can be used just like any other debit card, and to withdraw cash from ATMs.||Deposit checks with your smartphone.|
|Make purchases both in stores and online||Everyday banking such as direct deposit, bill pay, and money transfers.|
|Budgeting tools available on the web and mobile app.||In-network ATMs are those in the Allpoint network, which has over 50,000 surcharge-free ATMs.|
|Deposit funds by direct deposit, transfers from a linked external account, photo check deposit with the app, and deposits by mail.||Export your Simple data in CSV or JSON format and download monthly statements in PDF format.|
|Move money between accounts with no holds, no checks, no fees, and no wait.||Just like any other bank account,you can link your Simple account to Mint, PayPal and other third party services.|