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January 12, 2021 11:40 AM Chanelle Bessette
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The Jan. 7 announcement that online banking service Simple would be shutting down led some customers to express dismay on social media over losing beloved app features. The closure means that sometime in the near future, Simple accounts will be transitioned to accounts at BBVA USA, the bank which held customer deposits behind the scenes for Simple.
Though BBVA has been Simple’s parent for some time, the bank currently doesn’t have the same “Safe-to-Spend” and “Goals” features that Simple offered indeed, the features are fairly unique even among other so-called challenger banks. And Simple’s customers are lamenting the loss.
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