Online-only bank easy is shutting down, its determined employer announced in an electronic mail to clients Thursday. BBVA usa, which obtained Simple in 2014 for $117 million, stated it would be transitioning simple customers to BBVA money owed but did no longer provide information about when the change might arise.
BBVA united states of America become acquired through Pittsburgh-based p.c bank in November.
Stimulus payments and other direct deposits won’t be affected, in line with the word to clients. “we will provide ongoing transparent and open communication, so you recognize what to anticipate every step of the manner,” the company wrote. extra info might be coming in the future, in step with the emails.
There is no immediate impact to your accounts at Simple and nothing you need to do at this time. Since your deposits are already housed at BBVA USA, they will remain in FDIC insured accounts there, up to the applicable limits. In the future, your Simple account will become exclusively services by BBVA USA, but until then you can continue to access your account and your money through the Simple app or online at Simple.com.
at the time of the BBVA acquisition, easy had approximately a hundred,000 users. whilst it released in 2010, simple speedy amassed a ready listing of 125,000 human beings drawn to the online-best, streamlined revel in easy promised. whilst Google pockets close down in 2016, Google recommended simply as a possible replacement.
BBVA said in a statement Thursday that it was the last simple as a part of the percent acquisition because it became “accelerating some adjustments and stopping work on others.” once that acquisition closes, the former simple clients will become percent customers, the organization stated.
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