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I really, really, really want to use Simple. But they don't have joint accounts, so my wife and I would have to go through a lot of trouble to use their servic

by iends 13y ago

I really, really, really want to use Simple. But they don't have joint accounts, so my wife and I would have to go through a lot of trouble to use their service. It's interesting to say that they are not able to expand as fast as they wanted when they are missing this HUGE feature. Not having this feature has kept me from using their service ever since I received a very early beta invite.

jkubicek 13y ago
Simple just recently added free instant transfers between Simple accounts. Not as convenient as a joint account, but that's good enough for my wife and I to make the move to Simple.
- iends 13y ago
  Does your wife have her own income? My wife is currently a student and I would have to manually transfer money to her account quite often because there would be no other deposits into her account. Can you auto draft between accounts?
  - felideon 13y ago
    There doesn't seem to be a way, no. I'm on a similar boat. She manages certain budgets, so every pay check I make a few instant transfers (so I can categorize/track on my side) and that's it. And if she uses her account (debit card) for other stuff outside the budget, I just instant transfer. The real problem would be if both earned an income, as there would be no way to "share" a goal. (A feature which Simple is supposed to be working on.)
  - jkubicek 13y ago
    No she doesn't, but I'm going to have some part of my direct deposit go into her account and use the instant transfers for any one-off transfers.
erichurkman 13y ago
Same here; we use it for our separate accounts, but the primary joint account has to remain at a more traditional credit union. They even sent out a notice to all customers regarding tax returns – the IRS requires joint returns to be issued to a bank account listing both names.
- ceejayoz 13y ago
  That one actually baffled me - it's in direct contradiction to the IRS FAQ on the subject. http://www.irs.gov/Individuals/Frequently-Asked-Questions-about-Splitting-Federal-Income-Tax-Refunds http://www.irs.gov/Individuals/Frequently-Asked-Questions-ab... > If I am filing a joint return with my spouse, must our refund be deposited to a jointly-held account? > You can ask IRS to direct deposit a refund on a joint return into your account, your spouse’s account, or a joint account. However, state and financial institution rules can vary and you should first verify your financial institution will accept a joint refund into an individual account. Not sure if it's a state, Simple, or Bancorp policy, but it's not an IRS one.
eridius 13y ago
I'm a Simple customer, and I'm getting married in March. The lack of joint accounts has been a concern for me for the past few months. I was really hoping they'd announce something soon about their plans on that regard. But with this news that they're being acquired, I now have even less hope than before. I love Simple, but I'm now wondering if I'm going to have to find a different company to give my business.
- ceejayoz 13y ago
  I suspect being acquired by a bank makes it easier, not harder, to do things like joint accounts.
  - felideon 13y ago
    But Bancorp supports joint accounts. I used to have a joint Perkstreet account which also was just a layer over Bancorp.
    - ceejayoz 13y ago
      Then it's either Simple, Simple's state of incorporation, or their specific agreement with Bancorp. Whatever it is, the IRS says it's not them.
unfletch 13y ago
I'm in exactly the same boat. Very early invitee; basically have no use for it without joint accounts. I transferred a few hundred bucks to Simple when I signed up and finally moved that money back out just last week. I'm done waiting. :(
sneak 13y ago
I can't imagine a life wherein a joint account is not insanity. Why not have one account for each of you? Simple has instant account-to-account internal transfers.
- iends 13y ago
  Account-to-account internal transfers is relatively new and they did not have that feature when I was approved from the beta. But, account to account transfers does not solve the problem at all. I don't want to have to transfer money from my account to my wife's account manually. It's so much easier when she can just access a shared account and move money as needed.
- Kerrick 13y ago
  Many couples would find it just as annoying as having separate refrigerators and simply transferring food between the two before withdrawing and eating it.
  - achompas 13y ago
    Well aren't we fortunate that holding two separate accounts in a relationship is nothing like this at all!!

by iends 13y ago

jkubicek 13y ago

Simple just recently added free instant transfers between Simple accounts. Not as convenient as a joint account, but that's good enough for my wife and I to make the move to Simple.

iends 13y ago
Does your wife have her own income? My wife is currently a student and I would have to manually transfer money to her account quite often because there would be no other deposits into her account. Can you auto draft between accounts?
- felideon 13y ago
  There doesn't seem to be a way, no. I'm on a similar boat. She manages certain budgets, so every pay check I make a few instant transfers (so I can categorize/track on my side) and that's it. And if she uses her account (debit card) for other stuff outside the budget, I just instant transfer. The real problem would be if both earned an income, as there would be no way to "share" a goal. (A feature which Simple is supposed to be working on.)
- jkubicek 13y ago
  No she doesn't, but I'm going to have some part of my direct deposit go into her account and use the instant transfers for any one-off transfers.

erichurkman 13y ago

Same here; we use it for our separate accounts, but the primary joint account has to remain at a more traditional credit union. They even sent out a notice to all customers regarding tax returns – the IRS requires joint returns to be issued to a bank account listing both names.

ceejayoz 13y ago
That one actually baffled me - it's in direct contradiction to the IRS FAQ on the subject. http://www.irs.gov/Individuals/Frequently-Asked-Questions-about-Splitting-Federal-Income-Tax-Refunds http://www.irs.gov/Individuals/Frequently-Asked-Questions-ab... > If I am filing a joint return with my spouse, must our refund be deposited to a jointly-held account? > You can ask IRS to direct deposit a refund on a joint return into your account, your spouse’s account, or a joint account. However, state and financial institution rules can vary and you should first verify your financial institution will accept a joint refund into an individual account. Not sure if it's a state, Simple, or Bancorp policy, but it's not an IRS one.

eridius 13y ago

I'm a Simple customer, and I'm getting married in March. The lack of joint accounts has been a concern for me for the past few months. I was really hoping they'd announce something soon about their plans on that regard. But with this news that they're being acquired, I now have even less hope than before. I love Simple, but I'm now wondering if I'm going to have to find a different company to give my business.

ceejayoz 13y ago
I suspect being acquired by a bank makes it easier, not harder, to do things like joint accounts.
- felideon 13y ago
  But Bancorp supports joint accounts. I used to have a joint Perkstreet account which also was just a layer over Bancorp.
  - ceejayoz 13y ago
    Then it's either Simple, Simple's state of incorporation, or their specific agreement with Bancorp. Whatever it is, the IRS says it's not them.

unfletch 13y ago

I'm in exactly the same boat. Very early invitee; basically have no use for it without joint accounts. I transferred a few hundred bucks to Simple when I signed up and finally moved that money back out just last week. I'm done waiting. :(

sneak 13y ago

I can't imagine a life wherein a joint account is not insanity. Why not have one account for each of you? Simple has instant account-to-account internal transfers.

iends 13y ago
Account-to-account internal transfers is relatively new and they did not have that feature when I was approved from the beta. But, account to account transfers does not solve the problem at all. I don't want to have to transfer money from my account to my wife's account manually. It's so much easier when she can just access a shared account and move money as needed.
Kerrick 13y ago
Many couples would find it just as annoying as having separate refrigerators and simply transferring food between the two before withdrawing and eating it.
- achompas 13y ago
  Well aren't we fortunate that holding two separate accounts in a relationship is nothing like this at all!!