Simple, a Less-is-More Banking Alternative

Posted on November 16, 2011

The wonderful design of Simple

Simple is a completely new concept of banking that makes it easy to manage your finances and financial goals. It is such a different concept that they aren't calling themselves a bank at all.

How does Simple work?

Simple is not a bank. Simple "[gives] you the services and support you need to manage, understand, and automate your everyday spending and saving."

When you deposit your money into Simple, they direct it to their FDIC-approved banking partners. Simple provides an interface so you can easily manage your money with their banking partners.

In a nutshell, Simple functions like this:

  1. You deposit money into Simple and it goes directly to their FDIC-approved banking partners
  2. These partners manage your money as a typical bank would (gaining interest, etc)
  3. Simple allows you to deposit, withdraw, manage your money, and more from their web and mobile applications

A huge benefit for you

Without the expenses of buildings and tellers of traditional banks, Simple can focus on providing a simple, fee-free way of managing your finances and goals. They can focus on their strengths while their partners focus on theirs. And because Simple is focused on providing a wonderful user experience, their methodology and interfaces reflect it.

Simple's powerful web and mobile application

From the dashboard, rather than just show a total balance, Simple shows you what is "Safe-to-Spend™" in your accounts. This number represents exactly how much you are able to spend based off of your goals, budgets, and spending habits.

Managing transactions is more intuitive than traditional banking applications. From the dashboard you can search transactions in a linguistic manner. For example, you could search "coffee shops in New York" or "restaurants in Fort Wayne less than 20″.

You can also create goals in Simple. You simply specify how much you need, what the goal pertains to, and when you need it by. When you enter information into these fields, Simple will look at how you spend your money and assist you in reaching the goal as effectively as possible. They will work with their banking partners and automatically move your money into the most appropriate kind of accounts for your goal.

This is just the beginning for the power behind Simple. Because their focus is on the users, they will tap into the potential of new, better technologies without neglecting your finances.


With the ease, simplicity, and beauty of Simple, they have a bright future ahead of them. Because of the state of traditional banks, many people are looking to alternatives and Simple has jumped ahead of the curve.