Company Information

Get to know Simple Finance

Founded in 2009 by Josh Reich and Shamir Karkal, Simple was an online banking platform that aimed to make personal finance easier and more user-friendly. It offered FDIC-insured checking accounts, a Visa debit card, and innovative features like "Safe-to-Spend®" and "Goals" to help users manage their money automatically. Simple was not a bank itself but partnered with The Bancorp Bank and later its parent company, BBVA USA, to provide banking services. In 2014, Simple was acquired by BBVA for $117 million. In January 2021, BBVA USA announced the closure of Simple, and all accounts were transitioned to BBVA (now PNC) or closed by May 2021.

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Financial BankingPRIMARY
Financial Other Service

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Simple Finance

India

Founded in

2017 (9 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.