Deal has expired, view more bank account bonuses by clicking here
Offer at a glance
- Maximum bonus amount: $150 or $300
- Availability: Nationwide
- Deposit required: $10,000/$20,000
- Deposit length: 2/15/2020 – 4/30/2020
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None
- Expiration date: 2/15/2020
Contents
The Offer
- Simple Bank is offering a bonus of up to $300 when you open a new Simple account. The bonus you receive depends on your deposit:
- Receive a bonus of $150 when you deposit $10,000 by 2/15/2020 3:59 PM PT and maintain a balance of at least $10,000 until 4/30/2020 4:59 PM PT
- Receive a bonus of $300 when you deposit $20,000 by 2/15/2020 3:59 PM PT and maintain a balance of at least $20,000 until 4/30/2020 4:59 PM PT
The Fine Print
- Qualifying customers will receive the bonus credit to their Simple Account by 5/15/2020 4:59 PM PT.
- Accounts must be open and in good standing with a balance greater than or equal to $0.00 at the time of the bonus credit.
- Maximum of one (1) $300 bonus OR one (1) $150 bonus per customer.
- BBVA USA may report the value of the bonus to the IRS as required by law. Any client whose tax status would require BBVA USA to impose tax withholding of any sort will not be eligible for this bonus.
- Offer may be modified or withdrawn without notice.
- The following customers and accounts are excluded from this promotion: Any person who has applied for or opened any Simple Account before 4:00pm PT on 1/31/20 is ineligible to participate in this promotion.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
These accounts have no monthly fees to worry about
Early Account Termination Fee
According to the fee schedule there is no early account termination fee.
Our Verdict
This account also earns 1.90% APY if you have a balance above $10,000. Previously they offered a bonus of $250/$500 with the same requirements, my recommendation would be to wait for that bonus to return. Because of that I won’t be adding this to our list of the best savings account bonuses.
Hat tip to reader Josh C
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Bonus posted today!
Interest rate on Protected Goals has dropped to 1.73%
It’s finally happened.
“We have a quick update on your Protected Goals Account. As of today:
Balances of $10,000 and over will earn 1.75% Annual Percentage Yield (instead of the previous 1.90% APY)
Balances under $10,000 will continue to earn 1.75%—no changes there.
We’re proud to still offer 25 times the national average rate to help you grow your savings.1 We know a lower interest rate is never pleasant news, but rest assured that nothing else is changing about your Protected Goals Account.”
What is the relationship between Simple and BBVA? Am I eligible for this offer if I opened BBVA Compas account for $250 bonus in November?
Frewayfighter Did you get a confirmed answer to your question?
I have the same questions exactly and also the other way around (meaning if someone did simple bonus first will that make him/her ineligible for BBVA bonus later)?
You can get both. Many here have.
ugh I just signed up for a Simple savings account a month ago 🙁
Thanks for applying to become a Simple customer. Unfortunately, your application doesn’t meet our requirements and we’re unable to open an account for you. We cannot provide you with any specific reason for denial of your application.
We’re sorry we couldn’t open an account for you. We wish you all the best. Thanks for your interest!
William Charles “Previously they offered a bonus of $250/$500 with the same requirements, my recommendation would be to wait for that bonus to return.”
What makes you believe that it is more likely than not that the bigger bonus will return?
It’s fairly common for most banks to run their bonuses in cycles like that.
Application denied. Won’t tell me why.
The website is super annoying. The bank is for people who are unable to manage the words, savings and checking account….
Should mention that they might require you to take a selfie during the application process