Simple Bank Feature, Milestone, & APY History By MouthsOfDecadence 2009 BankSimple Founded Source: https://en.wikipedia.org/wiki/Simple_(bank)#History Nov 8, 2011 Becomes ‘Simple’, First Non-Employee Users Sources: https://techcrunch.com/2011/11/08/banksimple-is-now-just-simple-and-its-accepting-its-first-users/ https://www.simple.com/blog/introducing-simple 2012 Commercial Launch As Limited Beta Sources: https://en.wikipedia.org/wiki/Simple_(bank)#History https://www.simple.com/blog/the-beginning https://www.bbva.com/en/bbva-acquires-sim Feb 19, 2013 I Accepted My Simple Invite Jun 13, 2013 External Transfers on Web Jul 25, 2013 Goals on Mobile & Send $ Goals w/ Auto-save Nov 27, 2013 Support Messaging on Android Dec 19, 2013 Simple Instant Transfers Mar 25, 2014 Acquired by BBVA Jun 19, 2014 Faster External Transfers Jul 25, 2014 Goals on Web Redesign Aug 6, 2014 New Bill Pay Service Provider Aug 19, 2014 Simple 2.0 w/ Instant on Mobile & New ATMs May 28, 2015 Apple Pay Sep 9, 2015 Elimination of All Fees Nov 3, 2015 EMV Chip-Enabled Cards Sep 29, 2016 Shared Accounts Beta Dec 8, 2016 Transition from Bancorp to BBVA Begins Jan 25, 2017 Transition to BBVA Completed Feb 7, 2017 BBVA Accidentally Emails Simple Users Feb 28, 2017 Shared Accounts Launched Apr 3, 2017 2FA, Android Pay, & 3D Touch for iOS Apr 4, 2018 Funding Schedules on Web & Auto-spend by Category Apr 18, 2018 Emergency Fund Launched Jul 3, 2018 Goal Pictures Aug 2, 2018 Expenses 1.0 Launched Sep 25, 2018 Savings Goal w/ 2.02% APY on >$2K Oct 2, 2018 Oct 31st Deadline for 2.02% APY Oct 28, 2018 2.02% Protected Goal APY Extended Indefinitely May 7, 2019 Paper Checks Added, Bill Pay Disco Announced Jun 6, 2019 $2K requirement for 2.02% APY Removed Jul 9, 2019 Bill Pay & Mail a Check Discontinued Sep 25, 2019 Dark Mode Available for Mobile Oct 1, 2019 2.15% APY on P.Goals >$10K Oct 29, 2019 Round Up Rules Dec 17, 2019 P.Goal APY Lowered to 1.75% (1.9% >$10K) Feb 24, 2020 P.Goal >$10K APY Lowered to 1.75% Apr 2, 2020 All P.Goal APY Lowered to 1.55% May 5, 2020 All P.Goal APY Lowered to 1.40% Jun 2, 2020 All P.Goal APY Lowered to 1.20% Jul 1, 2020 All P.Goal APY Lowered to 1.00% Aug 18, 2020 Expenses 2.0 w/ Funding Options, Removed Coming Up, & Money Out By Merchant Aug 25, 2020 All P.Goal APY Lowered to 0.80% Sep 10, 2020 Checking APY Lowered to 0.00% (from 0.01%) Oct 5, 2020 Simple Acknowledges Support Shortfalls Oct 8, 2020 All P.Goal APY Lowered to 0.60% Nov 17, 2020 BBVA Acquisition By PNC Announced (pending approval) Dec 10, 2020 All P.Goal APY Lowered to 0.50% Dec 29, 2020 Creating Multiple Protected Goals Allowed Jan 7, 2021 BBVA Decision to Close Simple Announced Jan 26, 2021 All P.Goal APY Lowered to 0.40% Feb 11, 2021 Transition of Simple Accounts to BBVA Announced Feb 24, 2021 All P.Goal APY Lowered to 0.30% May 8, 2021 Announced Date for BBVA Transition/Simple Closure
