[caidan]

I like Simple and I wish them success. I don't like them because of their fantastic app and website, or excellent human customer service, but because after many years of abuse at the hands of Bank of America I wanted a bank that does not aggressively pursue Non Interest Income (ie fees, usually overdraft) as a major source of revenue.

Simple states very clearly on their faq[0] page that they make money off of interest and interchange fees, not punitive and arguably immoral fees like those imposed by the large mainstreet banks. Head over to this reddit thread[1] from this morning that discusses what it's like to work for these banks: "[the customer who was mistakenly charged the fee] struggles from week to week with finances, and needs every dollar more than the rich customers who treat us like shit yet the managers kiss their asses. It wasn't the customers fault at all yet they have to suffer".

All of the large banks are ruthless predators on the weakest of our societies, gouging their customers with an ever evolving scheme of fees and debt incentives to ensnare, entrap and exsanguinate those who can least afford it.

They are involved in price fixing scandals of the highest order, are beyond the reach of the law no matter the transgression, and seem to hold the sum total of our shared societies in contempt. Apparently there is very little that can be done at this point, the horse as long since bolted, but at the bare minimum I'll be god damned if I give them a dime I don't have to. Simple enables me to bank as usual without continuing to participate in that abusive relationship, and for that, I like them.

[0] https://www.simple.com/faq/ [1] http://www.reddit.com/r/AskReddit/comments/26qpcq/redditors_...