They list all the advantages here: https://banksimple.com/#vision
In short, no surprise fee's and simple online banking (with extensive mobile support).
In short, no surprise fee's and simple online banking (with extensive mobile support).
- The plain simple language bullet admits that of course there will always be legalese
- Real support. I've never had trouble at any hour getting a human being on the phone, empowered to deal with my issues. Facetiming or Skyping with my bank? I really don't see the point.
- Mobile from the ground up - Chase has great mobile apps that allow you to deposit checks by taking a photo. I believe other banks do as well and it seems like this will probably be pretty standard going forward.
- No fees. In four years I've been hit with a surprise fee once. It has been resolved.
"We provide access to the largest fee-free nationwide ATM network and our mobile app will locate an ATM closest to your current location." Not sure what that network is but is it more ATMs than Chase or BofA or Wells Fargo have?
That's gotta be Allpoint. They run nearly all of the non-bank ATMs (Think: 7/11, pharmacies, gas stations). ING Direct has the same deal: http://app.ingdirect.com/atmlocate/index.html
That's actually a significantly worse deal than the banks and credit unions that refund ATM fees (to a point) so you can use literally any ATM on any network.
2) just because you don't have those problems doesn't mean that others don't. in the past 4 years, i've probably hit upon each of those problems. perhaps they aren't enough of a pain point for me to switch away from my bank, but they're valid points nonetheless.
3) their ATM network is the largest because its any ATM (i believe, based on what i've read). use their card in any ATM and they waive all fees. this exists in some other cards already, though usually in a limited capacity (my HSBC card waives the first 3 ATM transaction fees iirc)