“Before we get into what Simple is, let’s be clear on what it is not. Although Simple is designed to replace your bank (and does so quite well, I argue), it’s not a proper bank itself. Your money sits in FDIC-insured accounts maintained by Simple’s banking partners, but this is distinctly separate from what Simple really is — a company that provides free tools for checking your balance, depositing checks, tagging and categorizing your purchases, and even sending paper checks through the mail at no cost.”
The simple invites have been arriving in my inbox for a while but try as I may, I cannot yet get comfortable with this type of transaction!
See on www.businessinsider.com