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Simple also don't offer any interest (nor a savings account) which grates a bit. Using Simple loses you money. It's not a "hidden fee", but it's a cost that isn
by Lewisham 14y ago
Simple also don't offer any interest (nor a savings account) which grates a bit. Using Simple loses you money. It's not a "hidden fee", but it's a cost that isn't that clear.
EDIT: There's also no outgoing ACH transfers yet, which I really would like.
- stevenbrianhall 14y agoRe: interest, this isn't technically correct, though the rate is 0.01%. See: https://simple.com/faq/#interest https://simple.com/faq/#interest and https://simple.com/policies/rates/ https://simple.com/policies/rates/
- daeken 14y agoThe lack of outgoing ACH transfers is what's keeping me from doing the bulk of my banking through Simple. As it stands, I throw money into it every once in a while, but it's a novelty, largely. Once I can transfer to my local bank for large cash withdrawals, I'll switch to Simple for most of my business.
- tadfisher 14y agoUnless your account offers >3% interest, saving your money in a bank loses you money. The only question here is how much.