This scenario has probably happened to some of you: you login to your online banking, expecting to see a positive number, but instead you’re in the negative and charged with one heck of an overdraft fee. And payday isn’t for another week, so the longer you sit with that negative account, the more fees are added. Soon, you’re giving half of your paycheck to just bank fees. Sound relatable? Banking shouldn’t be that frustrating. There’s a simpler way: with Simple Bank.


First conceived in 2009 by entrepreneurs Josh Reich and Shamir Karkal, Simple launched in 2012 after partnering with Bancorp Bank, an FDIC member, to provide simple, fee-less banking. Simple’s mission is clear: “We started out of frustration with banks, so we decided to be different. We’re serious about creating an experience that’s unlike any personal finance product you’ve ever used.”

I found Simple at a time in my life when my frustration with traditional banking was at an all time high. After a long vacation away from technology, I noticed a few payments had gone through on my account. Without my monitoring, my account overdrafted. And over drafted again. Repeatedly, until I owed $500 to the bank without a way to cover these fees until my next paycheck.

Even after I contacted the bank, they stood by their charges and weren’t lenient on the fees. I knew I wouldn’t be able to recover from this hit. I didn’t have an extra $500 that my account now owed, and I was relying heavily on credit cards because I couldn’t stop the bank charges from adding on.

I knew then it was time to get out of this vicious cycle. I had heard of Simple; many of my friends were already using Simple to manage their finances and were praising its lack of overdraft fees. Was there really a bank that wouldn’t charge me if my balance dipped below zero once or twice? I knew I needed to check it out.

When I finally switched to Simple, it was like taking a breath of fresh air. The process was so streamlined and efficient, and not at all filled with jargon or stiff language like most communication from big banks.

Best of all, Simple understands that switching over to a new bank might cause a few headaches. They’ve eased this problem with letting you directly link your existing bank account and transferring funds for free. Need to change your job’s direct deposit? No problem; Simple prepares the forms and voided check for you. Need to mail out rent to your landlord? Yep, Simple will do that for you, too.

Simple also offers all of the conveniences most of us have come to expect from a modern bank: free ATMs transactions, photo check deposits, and no minimum balance required. In top of that, simple has also introduced their “Safe to Spend” feature: an easy way to set aside money for bills or other expenses and see what income you have left.

The Safe to Spend aspect is arguably one of the best features of Simple, but don’t take just my word for it: “I paid off one entire credit card and my outstanding tuition, thanks to the Goals feature! That’s about $3000 I had no idea how to save before Simple,” says Tina, a recent reviewer on Simple’s website. It’s not just the goal setting and the ease of banking – Simple is also has an incredibly sleek design, and sophisticated website and app. “The UX especially shines with the iOS app. No other banking app has dedicated this much attention to detail—pixel by pixel,” says reviewer Dahee.

It’s that attention to detail that sets Simple apart from the rest. Creators Reich and Karkal have created an innovative new way to manage your finances and make sure your hard-earned money stays where it belongs: in your pocket.