Simple bank shutdown goes awry, leaving customers without account access
This is pretty unfortunate. I loved using Simple for three or so years; it was my first independent bank account. It was a great app and beautiful design with innovative banking features, like budgeting and super easy high-interest savings accounts. As soon as I heard about the shutdown I closed my accounts and moved away from Simple, and it seems like it was the right decision.<p>For anyone looking for an alternative, I&#x27;m using Wealthfront Cash now and I highly recommend it. They used to have super great interest rates but are now at about 0.10% APY, which is worse than others (I think you can get up to 0.50% APY right now at other places, with caveats). Although I keep minimal cash so it&#x27;s not a huge difference. They do track the Fed interest rates pretty well, so I think many of the alternatives are just behind and will eventually have to lower their interest rates too. They have some nice features that Simple used to, like different categories and automatic savings&#x2F;transfer to investment. The one sticking point is that they don&#x27;t support cash deposits (perhaps it&#x27;s possible through their partner Green Dot?), so I use a big bank checking account for that and nothing else.