Home Insights What is Simple Banking?

What is Simple Banking?

by C Roberts

Simple banking is an American non-bank based in Portland, Ore. The company offers FDIC insured checking accounts for US residents and permanent residents through a partnership with HSBC Bank USA and is affiliated with the HSBC network for fee-free ATM access. Simple’s products and services include the following:

American Bank is not recognized by the Federal Deposit Insurance Corporation (FDIC) or other regulatory agencies. As a result, the bank must rely on the FDIC to ensure its continued existence. The bank is regulated by the Office of the Comptroller of the Currency, Federal Reserve Board, Department of Treasury and Internal Revenue Service. The company was formed in November 1997 and is based in Chicago, IL. It is engaged in business transactions for the purpose of providing savings, checking, and money market deposit accounts to consumers.

This bank offers easy access from any internet connection to its online banking program. Easy access can also be achieved through mobile devices by using mobile banking applications. Simple provides two types of account for its customers: the standard account and the prepaid account. The basic account is free to open and use, and is designed for individuals who require a basic checking account. In order to use this account, a person needs an active and valid social security number, a current checking account number, and a current pay check. The prepaid account is a type of bank account that is managed by a bank.

A person opening a Simple account must open one for the first time with a debit card. The card is used to make deposits into a checking or savings account. One can also withdraw cash from the account and make purchases through the account. The company accepts a wide range of credit cards and other payment methods including credit card, money order, direct transfer, and debit card. One may also set up an automatic withdrawal and transfer feature using their phone and website.

Another option to manage Simple’s accounts is through the use of a virtual debit card. One does not have to give out a physical card to the bank in order to establish a virtual debit account. The easy access that allows you to your account online will make it easier for you to do transactions such as applying for loans, opening savings and checking accounts and to take care of other daily banking requirements. A convenient and easy-to-use web-based application process enables you to submit the necessary information online.

Many customers find Simple’s online banking to be convenient, secure, fast and effective. The company offers a safe, secure system to protect your account and provide for easy access to your bank’s funds. Online transactions are processed securely and efficiently and are fast to approve or complete. All the basic banking features are available at any time so you can keep track of your financial statements. One can manage the account, transfer funds, check balance, and even withdraw money from the account whenever necessary. You can also make deposits or withdrawals into your account and send electronic mails.

Some customers find the automatic transfer feature to be extremely useful. This feature automatically transfers money from your account into another account. The feature helps you save on paper checks and paper statements. Because all these functions are done automatically, it makes it easier to deal with and manage your finances.

Easy banking services like these are not just good for those with a bad credit history. There are many people who want more advanced banking features that they can only achieve from a more traditional bank. This is why many banks offer a range of other options for these consumers.

Some banks also provide good customer service. When looking for a bank, ask to speak with the staff of the bank you are considering to see how they handle their customers’ issues. Look for a bank that offers both a pleasant experience and good customer service.