Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
tj
Posts: 2689
Joined: Thu Dec 24, 2009 12:10 am

Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by tj » Thu Jul 18, 2019 4:05 pm

[Split into a new thread from: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus) --admin LadyGeek]
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Fri Jul 19, 2019 10:35 am

tj wrote:
Thu Jul 18, 2019 4:05 pm
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

tenkuky
Posts: 892
Joined: Sun Dec 14, 2014 4:28 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tenkuky » Fri Jul 19, 2019 10:40 am

Godot wrote:
Fri Jul 19, 2019 10:35 am
tj wrote:
Thu Jul 18, 2019 4:05 pm
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
I just opened one today, super easy and their phone support is so nice.
Will fund it next week from Ally and keep parked for 75 days. Easy $ 250.

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Fri Jul 19, 2019 10:44 am

tenkuky wrote:
Fri Jul 19, 2019 10:40 am
Godot wrote:
Fri Jul 19, 2019 10:35 am
tj wrote:
Thu Jul 18, 2019 4:05 pm
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
I just opened one today, super easy and their phone support is so nice.
Will fund it next week from Ally and keep parked for 75 days. Easy $ 250.
Also, worth noting that this is a checking account, not a savings account.
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

tenkuky
Posts: 892
Joined: Sun Dec 14, 2014 4:28 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tenkuky » Fri Jul 19, 2019 10:47 am

Godot wrote:
Fri Jul 19, 2019 10:44 am
tenkuky wrote:
Fri Jul 19, 2019 10:40 am
Godot wrote:
Fri Jul 19, 2019 10:35 am
tj wrote:
Thu Jul 18, 2019 4:05 pm
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
I just opened one today, super easy and their phone support is so nice.
Will fund it next week from Ally and keep parked for 75 days. Easy $ 250.
Also, worth noting that this is a checking account, not a savings account.
Actually it's sort of an in-between. You move to checking side, then move to "Goals" side and park it there for the required period. I learned that today from the CS on the phone.

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Fri Jul 19, 2019 11:02 am

tenkuky wrote:
Fri Jul 19, 2019 10:47 am
Godot wrote:
Fri Jul 19, 2019 10:44 am
tenkuky wrote:
Fri Jul 19, 2019 10:40 am
Godot wrote:
Fri Jul 19, 2019 10:35 am
tj wrote:
Thu Jul 18, 2019 4:05 pm



Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
I just opened one today, super easy and their phone support is so nice.
Will fund it next week from Ally and keep parked for 75 days. Easy $ 250.
Also, worth noting that this is a checking account, not a savings account.
Actually it's sort of an in-between. You move to checking side, then move to "Goals" side and park it there for the required period. I learned that today from the CS on the phone.
Ah, good to know. That's not apparent on the sign-up page!
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

BogleMelon
Posts: 2168
Joined: Mon Feb 01, 2016 11:49 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by BogleMelon » Fri Jul 19, 2019 12:39 pm

Godot wrote:
Fri Jul 19, 2019 11:02 am
tenkuky wrote:
Fri Jul 19, 2019 10:47 am
Godot wrote:
Fri Jul 19, 2019 10:44 am
tenkuky wrote:
Fri Jul 19, 2019 10:40 am
Godot wrote:
Fri Jul 19, 2019 10:35 am


Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
I just opened one today, super easy and their phone support is so nice.
Will fund it next week from Ally and keep parked for 75 days. Easy $ 250.
Also, worth noting that this is a checking account, not a savings account.
Actually it's sort of an in-between. You move to checking side, then move to "Goals" side and park it there for the required period. I learned that today from the CS on the phone.
Ah, good to know. That's not apparent on the sign-up page!
It is a saving account NOT a checking account according to the sign-up page
For a limited time, take advantage of this offer on our high-yield Online Savings Account
Also at the same page
Online Savings Account
2.15%
Monthly Service Fees
None
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

TravelGeek
Posts: 3103
Joined: Sat Oct 25, 2014 3:23 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by TravelGeek » Fri Jul 19, 2019 8:14 pm

sk2101 wrote:
Fri Jul 19, 2019 3:00 pm
Simple denied my application. This right after I opened an account with Marcus without any issues. Does anyone know whether this is because I have my credit reports frozen? I called them and they told me that they don't pull credit reports, but this is very strange - it has never happened to me. Below is the message I received online:

"We’re sorry to let you know that your Simple application was not approved. For security and regulatory purposes, we can’t tell you the specific reason."
Bizarre. I have no experience with them, but if they were not willing to tell why the application was denied, I would ask them what “security and regulatory purposes” prevent this. And if that is not satisfactory, I would consider filling a complaint with the CFPB.

Re Marcus... looks like an interesting offer. Now I need to overcome inertia and open yet another account... Ally was easier because I already was a customer, and my goal for 2019 was to simplify my financial life ;)

tenkuky
Posts: 892
Joined: Sun Dec 14, 2014 4:28 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tenkuky » Wed Jul 24, 2019 8:56 am

I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by SlowMovingInvestor » Wed Jul 24, 2019 6:12 pm

tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Interesting -- I hadn't seen this before. Looks like Simple puts funds into BBVA bank accounts ?

Also see that BBVA has a 2.70% 1 year CD. That's a pretty good rate !

tenkuky
Posts: 892
Joined: Sun Dec 14, 2014 4:28 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tenkuky » Wed Jul 24, 2019 6:19 pm

SlowMovingInvestor wrote:
Wed Jul 24, 2019 6:12 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Interesting -- I hadn't seen this before. Looks like Simple puts funds into BBVA bank accounts ?

Also see that BBVA has a 2.70% 1 year CD. That's a pretty good rate !
This bonus offer is just the Protected Goals savings account. I don't know if you can switch it to other, but you have to leave the funds in there till 10/31 to be eligible, minimum $10K.

Direwolf14
Posts: 28
Joined: Tue Apr 03, 2018 1:40 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Direwolf14 » Thu Jul 25, 2019 12:41 pm

tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.

Topic Author
tj
Posts: 2689
Joined: Thu Dec 24, 2009 12:10 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tj » Thu Jul 25, 2019 12:42 pm

Direwolf14 wrote:
Thu Jul 25, 2019 12:41 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.
I didn't have to upload those.

Direwolf14
Posts: 28
Joined: Tue Apr 03, 2018 1:40 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Direwolf14 » Thu Jul 25, 2019 3:13 pm

tj wrote:
Thu Jul 25, 2019 12:42 pm
Direwolf14 wrote:
Thu Jul 25, 2019 12:41 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.
I didn't have to upload those.
Apologies then. I guess it's either a new requirement or I matched some sort of risk profile. Warning others that uploading a government ID and a selfie *might* be required to open a Simple account.

tenkuky
Posts: 892
Joined: Sun Dec 14, 2014 4:28 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tenkuky » Thu Jul 25, 2019 3:18 pm

Direwolf14 wrote:
Thu Jul 25, 2019 3:13 pm
tj wrote:
Thu Jul 25, 2019 12:42 pm
Direwolf14 wrote:
Thu Jul 25, 2019 12:41 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.
I didn't have to upload those.
Apologies then. I guess it's either a new requirement or I matched some sort of risk profile. Warning others that uploading a government ID and a selfie *might* be required to open a Simple account.
I didn't have to either. And I have my Chex and all credit reporting frozen. Good to know for others.

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Thu Jul 25, 2019 3:22 pm

Direwolf14 wrote:
Thu Jul 25, 2019 12:41 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.
Thanks for the heads up. I'm in the process of funding the account and find it anything but simple. My dashboard reads that I have $0.000, and yet under "Protected Goals" I see 10K. CSR unhelpful. If "Protected Goals" is meant to be a saving account, why not simply call it "Savings Account"?
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by SlowMovingInvestor » Mon Jul 29, 2019 4:32 pm

tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.

Topic Author
tj
Posts: 2689
Joined: Thu Dec 24, 2009 12:10 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by tj » Mon Jul 29, 2019 4:41 pm

SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
THere is no applciation to open the Protected Goal account, if anything it seems like a sub-account.

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by 02nz » Mon Aug 05, 2019 1:52 pm

tj wrote:
Mon Jul 29, 2019 4:41 pm
SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
THere is no applciation to open the Protected Goal account, if anything it seems like a sub-account.
Simple really doesn't seem so ... simple.

The interface is not intuitive. I think part of this is because instead of calling it checking or savings, they have "safe-to-spend" and "protected goals." But even after a week I'm still a bit confused, particularly on transferring funds.

And to get the bonus for the shared account, you have to also open a protected goal for that shared account, which wasn't obvious to me, so now it's too late. I should still earn the bonus for my own protected goal, but so far the experience doesn't make me want to switch my banking to Simple.

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Mon Aug 05, 2019 7:48 pm

SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
The other problem with Simple is that they have no beneficiary feature on their website, like Marcus does. Kind of inexcusable in 2019. You need to "request" a beneficiary form, which I just did. I just hope that it's not a paper form!
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

Momus
Posts: 785
Joined: Tue Feb 21, 2012 9:23 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Momus » Tue Aug 06, 2019 12:13 am

02nz wrote:
Mon Aug 05, 2019 1:52 pm
tj wrote:
Mon Jul 29, 2019 4:41 pm
SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
THere is no applciation to open the Protected Goal account, if anything it seems like a sub-account.
Simple really doesn't seem so ... simple.

The interface is not intuitive. I think part of this is because instead of calling it checking or savings, they have "safe-to-spend" and "protected goals." But even after a week I'm still a bit confused, particularly on transferring funds.

And to get the bonus for the shared account, you have to also open a protected goal for that shared account, which wasn't obvious to me, so now it's too late. I should still earn the bonus for my own protected goal, but so far the experience doesn't make me want to switch my banking to Simple.
You need to fund it by August 15. Too late? Nope.

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by 02nz » Tue Aug 06, 2019 8:58 am

Momus wrote:
Tue Aug 06, 2019 12:13 am
You need to fund it by August 15. Too late? Nope.
And you need to have opened the protected goal by July 31. I thought I opened a shared goal but actually opened a shared safe to spend account. The shared goal was another step which wasn’t obvious.

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by student » Tue Aug 06, 2019 9:04 am

Godot wrote:
Mon Aug 05, 2019 7:48 pm
SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
The other problem with Simple is that they have no beneficiary feature on their website, like Marcus does. Kind of inexcusable in 2019. You need to "request" a beneficiary form, which I just did. I just hope that it's not a paper form!
For Merrill Edge, I even need to get the form notarized.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by SlowMovingInvestor » Tue Aug 06, 2019 9:19 am

02nz wrote:
Mon Aug 05, 2019 1:52 pm
tj wrote:
Mon Jul 29, 2019 4:41 pm
SlowMovingInvestor wrote:
Mon Jul 29, 2019 4:32 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
Slightly off topic, but it seems like you actually have to open 2 Simple accounts ? A Protected Account, and a regular Account, and move money to the Protected Account ? I don't understand why Simple requires 2 accounts unless one is a savings account with withdrawal limits.
THere is no applciation to open the Protected Goal account, if anything it seems like a sub-account.
Simple really doesn't seem so ... simple.

The interface is not intuitive. I think part of this is because instead of calling it checking or savings, they have "safe-to-spend" and "protected goals." But even after a week I'm still a bit confused, particularly on transferring funds.
I agree completely. I don't see the point too. I mean, even young people (at whom it's directed) know about checking and savings accounts.

Momus
Posts: 785
Joined: Tue Feb 21, 2012 9:23 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Momus » Tue Aug 06, 2019 9:55 am

02nz wrote:
Tue Aug 06, 2019 8:58 am
Momus wrote:
Tue Aug 06, 2019 12:13 am
You need to fund it by August 15. Too late? Nope.
And you need to have opened the protected goal by July 31. I thought I opened a shared goal but actually opened a shared safe to spend account. The shared goal was another step which wasn’t obvious.
Still not too late, they extend the offer until Sept

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by 02nz » Tue Aug 06, 2019 9:59 am

Momus wrote:
Tue Aug 06, 2019 9:55 am
Still not too late, they extend the offer until Sept
Thanks for flagging. (And now I think we have enough posts about Simple on this thread about Marcus that we need to ask the mods to move this to its own thread, so I'll report my own post.)

User avatar
LadyGeek
Site Admin
Posts: 57819
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by LadyGeek » Tue Aug 06, 2019 3:31 pm

^^^ Report received. I have moved the Simple discussion posts into this thread.

The offer is here: Bank, Budget & Earn Up To $500 on top of 2.02% APY | Simple

Read the description carefully. The offer is now $250 for each new account - as long as you meet the criteria.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

7eight9
Posts: 436
Joined: Fri May 17, 2019 7:11 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by 7eight9 » Tue Aug 06, 2019 6:36 pm

Easy $750 if both parties are US citizens. Green card holders can't open a protected goals account. :( We only were able to get $250. Still a very nice bonus but not as good as it could have been.

Link to Doctor of Credit discussion of offer --- Simple Finance: Open Protected Goals Account & Earn $250 & 2.02% APY (Up To $750 Between Two People)

[Link fixed by admin LadyGeek]
I guess it all could be much worse. | They could be warming up my hearse.

chw
Posts: 712
Joined: Thu May 24, 2012 4:22 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by chw » Tue Aug 06, 2019 6:38 pm

This $250 offer is actually good for up to $750- 1 individual account for wife and I, and 1 joint account that is also eligible for the bonus. Glad to see the offer extended, as missed funding a joint accounts last month...
Last edited by chw on Thu Aug 08, 2019 11:32 am, edited 1 time in total.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by SlowMovingInvestor » Thu Aug 08, 2019 9:45 am

One thing I see about Simple is that ACH funds seem to be in limbo for 2 days -- i.e. after withdrawal from the other bank, it takes 2 days for them to show up in your account.

I'm guessing they are picking up some interest on the float ? it is certainly a negative for a customer.

oilrig
Posts: 148
Joined: Sun Jul 03, 2016 10:25 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by oilrig » Thu Aug 08, 2019 10:55 am

It has been so frustrating trying to fund these accounts. Simple has a $5k daily limit on transfers, and it takes forever for funds to show up in the account after submitting a transfer. Its taken almost 2-3 weeks trying to transfer $20k into the necessary accounts. Such a pain!

chw
Posts: 712
Joined: Thu May 24, 2012 4:22 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by chw » Thu Aug 08, 2019 11:36 am

oilrig wrote:
Thu Aug 08, 2019 10:55 am
It has been so frustrating trying to fund these accounts. Simple has a $5k daily limit on transfers, and it takes forever for funds to show up in the account after submitting a transfer. Its taken almost 2-3 weeks trying to transfer $20k into the necessary accounts. Such a pain!
Not sure if you know this already, but I got around the transfer limits by “pushing” funds out of my external account once it was linked with the Simple account. Agree their platform seems clunky, but bonus is decent, and savings rate in the goal account is higher than Ally(for now).

oilrig
Posts: 148
Joined: Sun Jul 03, 2016 10:25 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by oilrig » Thu Aug 08, 2019 12:44 pm

chw wrote:
Thu Aug 08, 2019 11:36 am
oilrig wrote:
Thu Aug 08, 2019 10:55 am
It has been so frustrating trying to fund these accounts. Simple has a $5k daily limit on transfers, and it takes forever for funds to show up in the account after submitting a transfer. Its taken almost 2-3 weeks trying to transfer $20k into the necessary accounts. Such a pain!
Not sure if you know this already, but I got around the transfer limits by “pushing” funds out of my external account once it was linked with the Simple account. Agree their platform seems clunky, but bonus is decent, and savings rate in the goal account is higher than Ally(for now).
My Wells Fargo account has a daily transfer limit of $5k as well lol. Im SOL.

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by 02nz » Thu Aug 08, 2019 12:47 pm

As another poster noted, the offer was extended. If you open the protected goal in August, you have until September 16 to fund.

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by 02nz » Thu Aug 08, 2019 12:48 pm

oilrig wrote:
Thu Aug 08, 2019 10:55 am
It has been so frustrating trying to fund these accounts. Simple has a $5k daily limit on transfers, and it takes forever for funds to show up in the account after submitting a transfer. Its taken almost 2-3 weeks trying to transfer $20k into the necessary accounts. Such a pain!
Unfortunately they also have ridiculously low limits on mobile deposit ($2K/day for me, at least to start), otherwise that would've been an easy workaround for getting money from a checking account.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by SlowMovingInvestor » Thu Aug 08, 2019 2:09 pm

oilrig wrote:
Thu Aug 08, 2019 10:55 am
It has been so frustrating trying to fund these accounts. Simple has a $5k daily limit on transfers, and it takes forever for funds to show up in the account after submitting a transfer. Its taken almost 2-3 weeks trying to transfer $20k into the necessary accounts. Such a pain!
I was able to initiate a 10K transfer. Still taking 2 days, as I said before.

User avatar
alpenglow
Posts: 850
Joined: Tue May 31, 2011 12:02 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by alpenglow » Thu Aug 08, 2019 2:44 pm

I have to agree that their site is very confusing to navigate. Whatever the case, I'm hoping to make a cool $750 here. A few data points:

1) I didn't have to upload ID, even with frozen ChexSysytems
2) Transfers are torture. As someone else noted, push instead of pull. Works much faster.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by SlowMovingInvestor » Thu Aug 08, 2019 3:24 pm

alpenglow wrote:
Thu Aug 08, 2019 2:44 pm
I have to agree that their site is very confusing to navigate. Whatever the case, I'm hoping to make a cool $750 here. A few data points:

$750 how ? Self, Spouse, Self + Spouse ?

User avatar
alpenglow
Posts: 850
Joined: Tue May 31, 2011 12:02 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by alpenglow » Thu Aug 08, 2019 3:27 pm

SlowMovingInvestor wrote:
Thu Aug 08, 2019 3:24 pm
alpenglow wrote:
Thu Aug 08, 2019 2:44 pm
I have to agree that their site is very confusing to navigate. Whatever the case, I'm hoping to make a cool $750 here. A few data points:

$750 how ? Self, Spouse, Self + Spouse ?
Yes.

sarabayo
Posts: 330
Joined: Fri Jun 29, 2018 6:59 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by sarabayo » Thu Aug 08, 2019 3:39 pm

Some caveats I learned through signing up for this:
  • You get $250 per account, but you can only have one individual and one shared. So if you're single, like, me, that caps your benefit at $250. If you have a partner, you can get $750 between the two of you (one individual account for each person and one shared account).
  • There's a $5k daily limit on ACH transfers initiated from Simple. On the other hand, there's no limit for accepting ACH transfers initiated from the other end, so that might be a better idea.
  • When you connect an external bank account, they try to get you to use their "Plaid" system, which requires you to input your username and password for the external bank. If you choose not to use this, and do the standard "trial deposits" verification method, then there's a $5000 monthly limit for the first month! :oops: And this is not explained anywhere in the website's UI or in their FAQ -- I had to call up their phone support to discover why I was getting a "you're over your daily limit" message when it was actually hitting a monthly limit.
  • Simple accepts wire transfers with no fee. Fidelity can send wire transfers with no fee. I found this to be the fastest and easiest way to fund my account.

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by Godot » Fri Aug 09, 2019 1:54 pm

Simple's site is just unadulterated pure trash. Still have not received a beneficiary form, which I was told I would get at the beginning of the week, and now they are calling the "Protected Goals" account a checking account, not a savings account. I don't get how it stays in business.
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

Godot
Posts: 246
Joined: Fri Jun 08, 2018 3:44 pm
Location: Little Beirut

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by Godot » Fri Aug 09, 2019 1:56 pm

Direwolf14 wrote:
Thu Jul 25, 2019 12:41 pm
tenkuky wrote:
Wed Jul 24, 2019 8:56 am
I know this thread is mostly Marcus, but there were few responses for Simple.
I completed my funding of the Protected Goals requirement today with Simple.
Their website and process to link with Ally was simple :D and the CSR on the phone when I had a question, most helpful.
Smaller deposit requirement (10K) for $250. Much better than tying up a larger amount with Marcus IMHO.
It's still valid till July 31.
https://www.simple.com/offer?ajs_event= ... g.com_2PCT
You should've mentioned that Simple requires the uploading of an ID and a "selfie" as part of the account opening process. I'm not sure how this protects my account and was unwilling to share those. I called to close my account, but the CSR said he could not do so because it technically wasn't opened yet.
I did not have to do either of these.
Estragon: I can't go on like this. | Vladimir: That's what you think. | ― Samuel Beckett, Waiting for Godot

User avatar
fortfun
Posts: 2460
Joined: Tue Apr 19, 2016 7:31 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by fortfun » Sat Aug 31, 2019 9:35 am

Does anyone know how to set up the shared account? Do you make a whole new account?

User avatar
fortfun
Posts: 2460
Joined: Tue Apr 19, 2016 7:31 pm

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Post by fortfun » Sat Aug 31, 2019 9:36 am

Godot wrote:
Fri Jul 19, 2019 10:35 am
tj wrote:
Thu Jul 18, 2019 4:05 pm
uberdoc wrote:
Thu Jul 18, 2019 3:36 pm
I did Ally $1000 bonus earlier this year then got capital one $500 money market bonus then Marcus $100 bonus and now I am enrolled into this $500 bonus. I am also currently enrolled in etrade $250 and chase you invest $200 bonuses. These all are easy ways to make some profit by just moving around cash.

Simple has $250 for 10k, but it might be too late
Not too late.

Simple Bank Up To $500 Bonus Offer

What you’ll get: Up to $500 in bonus money
Where it’s available: Nationwide
How to earn it: Earn a $250 bonus for each new Individual or Shared Protected Goals Account. Maximum $500 bonus.
Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
When it expires: 7/31/19
How do you set up the shared goals account?

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by 02nz » Thu Nov 14, 2019 11:14 am

The bonuses for our individual protected goals accounts have posted. Bonus for the shared account hasn't posted yet but that was opened later. I still find the interface infuriatingly clunky but they have a better rate than most others right now (2.15% APY for >$10K balance).

sarabayo
Posts: 330
Joined: Fri Jun 29, 2018 6:59 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by sarabayo » Thu Nov 14, 2019 6:43 pm

02nz wrote:
Thu Nov 14, 2019 11:14 am
The bonuses for our individual protected goals accounts have posted. Bonus for the shared account hasn't posted yet but that was opened later. I still find the interface infuriatingly clunky but they have a better rate than most others right now (2.15% APY for >$10K balance).
Thanks for the heads up. I didn't realize their rate was actually so high. I think when I started my account as part of this promotion their rate was below the tax-equivalent yield I was getting from VMFXX at Vanguard, but now VMFXX's 7-day TEY has dropped to 1.92% (for me), so I guess I'm leaving the $10k at Simple for now... just gotta remember to check it frequently so I can move it back to Vanguard when the Simple rate inevitably drops. Hopefully the first one of us in this thread who notices a rate cut at Simple will point it out :)

02nz
Posts: 2556
Joined: Wed Feb 21, 2018 3:17 pm

Re: Simple Bank - Bonus for New Funds in Individual and Protected Goals Account

Post by 02nz » Thu Dec 12, 2019 2:25 pm

OK now that I've gotten a bit more used to Simple's interface, I still find it annoying but am learning to live with it. One thing I found recently was that by default transfers to external accounts are scheduled to process the next day, but you can change the date to today. With that, transfers arrive in the other account in just one day, which is nice. (I suppose this is YMMV depending on the other institution.)

Post Reply