I was emotionally attached to Simple bank, but after it shut down I found an even better home for my money

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  • My boyfriend and I had our first joint account at Simple, so it was a blow when the bank shut down.
  • I investigated other options and decided on Ally as a new home for our funds.
  • I’m glad we made the switch — our money is earning more interest than before.
  • Visit Personal Finance Insider for more stories.

I’ve written about my love for my Simple bank account many times before, so you can imagine my dismay when I got an email on January 7 telling me that the bank would be shutting down. “BBVA USA has made the strategic decision to close Simple,” the email read. “There is no immediate impact to your accounts at Simple, and nothing you need to do at this time.” That second line was reassuring, but my brain was already swirling with potential next moves.

Simple Online Checking Account

Simple Simple Online Checking AccountAlly Ally High Yield Savings AccountBanking

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