Simple bank announced in January that it would be shutting down. If you're a current customer and want to close your account, you can do so online or by phone. If you choose to do nothing, your Simple account will become a BBVA USA account in 2021. Simple bank announced recently that it will be closing its doors in 2021. If you're a current customer wondering what that means for your money, there are a few things you should know. Simple is shutting down because its parent company, BBVA USA, is being acquired by PNC Bank. By spring 2021, all Simple bank accounts will become BBVA accounts, then PNC accounts. So as a customer, the first thing you can do is absolutely nothing; Simple has been clear that if you leave your money where it is, your bank account will transition over to BBVA USA this year, and the intention is that customers shouldn't be impacted too greatly.