Are you looking at making the switch on your checking account because you’re tired of dealing with the hassles of fees and yet barely getting the service you expect? Do you do most of your banking online and hardly step into your bank’s branches? Simple may be a solution for you and your money.

Simple has partnered up with Bancorp Bank to provide FDIC insured checking accounts for those looking for an easy to use alternative than the  “big banks” which have gained a reputation for charging fees for providing some of the most basic banking services.

What makes Simple special is how integral your smartphone is with your banking. You can use your phone to deposit checks, transfers money, and set up new goals. Simple also has some handy and intuitive tools to help you track your spending without counting all the pennies.

Simple Checking – Built for Savings

Simple takes personal checking from being about just paying expenses and instead makes it a personal spending account with built in features that make it incredibly easy to save for short term and long term goals.

You’re given a Visa debit card which works just like the traditional brick and mortar banks for purchases . The real bonus is when you access your account either through their app and their website. Simple’s dashboard interface makes it easy for you to:

• Deposit/Send Money: It’s easy to deposit checks using your smart phones.  Use their website to set up your bills and have them paid on time every time.  You can also instantly send money to other Simple customers.
• Create/Modify Savings Goals: With a few swipes, you can
• Know Your Spending Balance: With our old bank, we would login to our account and see a balance, but it didn’t reflect any pending transactions, which can make it easier to overdraft on your checking account.
• Track Your Money: Forgot what you spent money on last month? You can use hashtags and photos with your notes, making it easier to search and sort through later.

With Simple’s interface and automatic savings, you can being gently nudged towards reaching your goals. While it’s easy to pause on your automated deposits, you generally wouldn’t feel like it because you get to see your progress daily. Who doesn’t want to see their balance grow?

You can write checks through the app, Simple will send a paper one to the recipients.

One note: currently Simple is offering individual checking accounts, so if you’re looking for a replacement for your joint checking or savings, I’m going to suggest Capital 360 and Ally Bank.

Your Money Stays with You

Simple prides itself on giving customers useful features and great service without charging ridiculous fees. There is no reason why you two should be working hard to pay the bills and save to get ahead just to have your bank drain your accounts with fees and needless services.

Simple keeps to its word and avoid having you keep track of fees and expenses for basic checking activities. With Simple, you have:

• No Minimum Balance
• No Monthly Account Maintenance Fee
• No Overdraft Fee

The few fees listed are for services like expedited delivery and a paper copy fee (it’s free to view and print yourself). the one fee I’m not crazy about is the inactivity fee if you haven’t used your account in 180 days (~6 months).  However if you’re using this for your personal checking account, it shouldn’t be a problem.

Plenty of ATMs

Simple uses Allpoint’s network of ATMs, which currently boats over 55,000 locations nationwide. We first discovered the network through our joint bank, Capital One 360 and through the years, we have never had any problems getting to an ATM when we need to withdraw cash.

Thoughts on Simple Banking

If you’re looking for a checking account to get you into the mode of saving and building your financial cushion, Simple can be the answer for you. Do you want to sign up for Simple? I’ve got the hookup to skip their waitlist!

There are several reasons you should balance your checking account. Banks can make mistakes, both in your favor and to your financial detriment. Having a separate way to verify your account balance is a way to keep them on your toes.

Simply using your ATM receipts can also be misleading. When you get your receipt, it’s simply a snapshot. It doesn’t show pending balances. Another benefit is if you keep your check register up to date, you’ll reduce or eliminate any overdraft charges.

How to Use a Check Register

When you opened your checking account with your bank or credit union, you probably received some check registers included with your box of paper checks.

They can be a very handy tool that you can use once a week to help you stay on top of your accounts.

• Check all your deposits. Mark off on your register all your deposits into the checking account.
• Check all your checks and bill payments. Mark off them on your register as well.
• Review all your ATM withdrawals. As you mark them off, remind yourself what you spent the money on. You may discover a money leak.
• Verify all your check card transactions. Double check to see if everything matches up.
• Closely check any fees or interest earned for your account. If your bank is charging excessive fees, consider moving your money to a bank or credit union that values its customers better.
• Make sure your total and the bank’s total matches. Don’t stress over pending bills if the math adds up. Depending on your bank’s policy, they can take a day or more to go through on your account. Call your bank if you notice any discrepancies.

If you prefer a more electronic version that you can keep tabs on from anywhere, you can download a free excel check register.

Keeping your Checking Account Balanced

How many of you balance your checking accounts on a regular basis?  Why or why not? How do you feel about your bank or credit union’s service? Have you had to deal with a mistake from the bank’s side?