Simple mobile banking app shutting down, accounts will transfer to BBVA USA
Easy to use and understand banking app Simple is being discontinued, according to an email the service sent to its members on January 7th. This was later confirmed and detailed via an official Simple blog post.
Simple was acquired for $117 million by BBVA USA Bancshares, Inc. back in 2014. However, with BBVA USA itself being acquired by PNC Financial Services in the second half of 2021, some consolidation may be requested in order to ensure products being offered aren't competing against one another. Simple checking accounts will be migrated over to BBVA USA and its associated bank services.
BBFVA released the following statement:
"Simple customers already have a dual relationship with BBVA USA and Simple. We will be migrating these customers to the award-winning BBVA USA mobile app. Those same customers will become PNC customers upon the close of acquisition, which is subject to customary closing conditions. As part of BBVA USA, Simple customers will have access to a much broader suite of products and services, alongside the bank’s award-winning mobile app, which includes BBVA Financial Tools."
BBVA USA did not provide a timetable for the transition. Until then, the Simple service will be accessible both online on the web and via the app. Once that period has passed, however, those who aren't satisfied with their BBVA USA or PNC banking services can find simpler alternatives such as One.