What is simple bank called now? (2024)

What is simple bank called now?

In February 2020, Simple announced that its automated, round up savings feature had saved customers 1.2 million dollars in less than 4 months since the feature was introduced. On May 8, 2021, Simple was formally closed, and remaining accounts began to be transitioned to BBVA

checking and savings accounts.

Who bought out Simple Bank?

It was purchased by BBVA in 2014. BBVA said in January that it would be shutting down Simple later in 2021. The decision came from the company “reassessing its goals” as part of a planned sale to PNC Bank, which reached an agreement to acquire BBVA's US operations in November 2020.

Is Simple still a bank?

When Simple Bank closed in 2021, it was acquired by Spanish multinational finance company BBVA. Existing customers were migrated over to BBVA accounts. Sources used for this article: Chime - Checking Account.

Did PNC buy Simple?

BBVA said in a statement Thursday that it was closing Simple as part of the PNC acquisition, as it was “accelerating some changes and stopping work on others.” Once that acquisition closes, the former Simple customers will become PNC customers, the company said.

Has BBVA bank shut down?

BBVA customers will find their branches being converted to PNC Bank. Pittsburgh-based PNC Bank closed its acquisition of BBVA's American banking business in June, and BBVA customers who haven't already seen changes to their deposit, credit or investment accounts should experience them by early October.

Why did Simple Bank shut down?

In an email to bank customers, Simple explained that its parent company, BBVA USA, had made the "strategic decision to close Simple." Simple launched in 2009 with the goal of simplifying banking. It was acquired by BBVA USA in 2014.

Is Simple Bank a real bank?

As of 2021, Simple is now closed. Customers' accounts have been transferred to Simple's parent company, which is now PNC Bank.

Where did my Simple account go?

On May 8, 2021, Simple was formally closed, and remaining accounts began to be transitioned to BBVA checking and savings accounts.

Is Simple Bank safe to spend?

Simple Bank Checking Safe-to-Spend Accounts

Checking Account (Safe-to-Spend) – The main feature of the spending account is the Visa debit card for your purchases. The Simple checking account is optimized for branchless use with no minimum balance or account maintenance fees.

Is Simple a good bank?

Bottom Line. Simple Bank offers one of the best high-yield checking accounts in the business. It boasts an APY that exceeds most savings account APYs. It also offers some unique budgeting tools to help you track your goals and automate saving for your immediate and long-term expenses.

What bank did PNC just merge with?

PITTSBURGH, Oct. 12, 2021 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.

Is PNC Bank China owned?

PNC Bank is a subsidiary of The PNC Financial Services Group, Inc., a U.S.-based bank holding company headquartered in Pittsburgh, Pennsylvania, and founded in 1845.

Is PNC going under?

The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 6.5% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.

What is the best online bank?

What banks shut down?

Is BBVA owned by Chase?

On June 1, 2021 the company was acquired by PNC Financial Services.

What are the 3 banks that shut down?

The collapses of Silicon Valley Bank and Signature Bank in March 2023—then the second- and third-largest bank failures in U.S. history—took consumers by surprise. Subsequently, three more banks failed in 2023: First Republic Bank in May, Heartland Tri-State Bank in July and Citizens Bank of Sac City in November.

What bank suddenly closed?

The latest bank that collapsed was The Citizens Bank, Sac City, Iowa. Citizens Bank's closure marks the fifth bank failure in the nation in 2023.

What bank is shutting down in the US?

Is Simple Bank FDIC insured?

Yes, all funds in Simple account are FDIC insured through partner bank, BBVA USA (FDIC# 19048).

What bank is like Simple Bank?

There are many other online banks and fintechs like Simple! These include Revolut, Wise, and others. We particularly recommend Revolut, which gives you a checking account, debit card, good APY, and plenty of other goodies, making it a great Simple alternative.

Which bank is trustworthy?

Why did they close my account?

For instance, your bank may suspect you're a victim of identity theft or that your account is engaging in money laundering or wire fraud. Excessive bounced checks or overdraft fees: Banks often close the accounts of customers who frequently bounce checks.

Why are all my accounts frozen?

Account freezes are normally the result of a court order, though, in some cases, the financial institution itself may initiate them. Freezes typically occur when the account holder has unpaid debts to creditors or the government, or when suspicious activity has been detected in the account.

Did they close my bank account?

How do I know if my bank account is closed? You should receive a notification from your bank if your account is closed. You may notice you cannot access your funds or use your debit card. You can also contact the bank directly to confirm whether your account has been closed.