Company Information

Get to know Simplebank

Founded in 2009 as BankSimple, and later known as Simple, the company was a pioneer in the American financial technology (fintech) space. Its mission was to help customers feel more confident about their money through a beautifully designed mobile app that combined FDIC-insured checking accounts with powerful, built-in budgeting and savings tools like "Goals" and "Safe-to-Spend®". Originally partnering with The Bancorp Bank, Simple was acquired by BBVA in 2014. In 2020, PNC Financial Services acquired BBVA USA, and in early 2021, PNC announced the closure of Simple, transitioning all customer accounts to PNC Bank by mid-2021.

Industry

Financial BankingPRIMARY
Financial Other Service

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Simplebank

Canada

Founded in

2022 (4 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(78 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

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.