Simple Bank, an FDIC-insured checking account backed by their partner bank BBVA Compass, 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.
They do not have any physical branch locations to serve customers and their headquarters is located at 1615 SE 3rd Ave #200 – Portland, OR 97214.
Simple Bank $20 Per Referral Bonus (Unlimited)
Once you have an account set up with Simple Bank, which is free to open with no minimum opening deposit or minimum balance requirements, you can start making $20 per referral. Your referrals will also earn a $20 bonus as well.
- Referral offer has no set expiration date
- There is no limit to the number of referrals you may make
- How to earn the $20 bonus:
- You must be a new Simple customer who has not previously had an account to be referred and receive the bonus.
- Open a new Simple Bank account using the offer link from the referrer
- Put money in your Simple account by linking another account or setting up direct deposit.
- When your new card arrives, activate it, and go use it
- A $20 bonus will be credited to your account within 24 hours
- The account must be open and in good standing at the time the bonus is deposited.
- Simple may report the value of the bonus to the IRS as required by law.
- Any customer whose tax status would require Simple to impose tax withholding of any sort will not be eligible for this bonus.
- Employees of Simple are ineligible for this program.
- How to earn unlimited $20 referral bonuses:
- Once you have a Simple Account open, make referrals using your personal referral link, or via Email, Facebook, or Twitter.
- Once your friend successfully opens an account and makes a purchase with their Simple Bank card for the first time, a $20 bonus will appear in both your accounts.
- The bonus will be credited within 24 hours to both accounts
*Use our referral link below to earn your $20 sign-up bonus, and then start earning more referral bonuses.
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 has 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 (40,000 totally free Allpoint ATMs), 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 Debit Card, which can be used just like any other debit card, and to withdraw cash from ATMs.
- Make purchases both in stores and online
- Budgeting tools available on the web and mobile app.
- Deposit funds by direct deposit, transfers from a linked external account, photo check deposit with the app, and deposits by mail.
- Move money between accounts with no holds, no checks, no fees, and no wait.
- Deposit checks with your smartphone.
- Everyday banking such as direct deposit, bill pay, and money transfers.
- In-network ATMs are those in the Allpoint network, which has over 40,000 surcharge-free ATMs.
- Export your Simple data in CSV or JSON format and download monthly statements in PDF format.
- Just like any other bank account,you can link your Simple account to Square, Venmo, Paypal and other third party services.
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- Simple Bank Review & Bonus Offer: Unlimited $20 Referrals
Check back here for updates on promotions from Simple Bank.