I’m sure you have heard that Simple Bank is being closed due to a merger here in the US. There are over 100,000 Simple Bank users that are searching for a new alternative that has the budgeting features. There is an active subreddit and word is getting out that no-one does what simple did.
The biggest things that Simple had that made their clients (like me) financially literate/stable and now even debt free with a sizable emergency savings were the following.
Their Goals, Expenses, and Safe-to-spend were the key to our success. You could auto fund your goals and expenses based on your paycheck dates and then you would have your safe to spend as your leftovers to use as “fun money” until your next paycheck. Everything was set aside so even though let’s say you get a $3,000 paycheck, when it hit your account - you’re safe to spend would show something like lets say $700 dollars. Because in reality you don’t have $3000 dollars. Most of that is earmarked for essentials that you decide. And then before you get your next check, let’s say you have $200 still left in your safe-to-spend, you could then transfer that to any of your goals that you want to achieve faster or even just throw it into “protected accounts” like savings or emergency funds etc.
I see so many “budgeting” features from bank to bank and third parties and none of them do what simple did which is a shame because what’s described above is exactly what people need and it was (I hate to say it) but simple. I see you guys have “pots” and it seems like you are onto the idea of Simple was doing.
Anyway, there are tons of people out there looking for an alternative to Simple and are eagerly ready to try something new but they want the budgeting feature sets that Simple had. They were extremely powerful at making financially responsible customers. Not one overdraft since I started banking with simple. Never even got close. Paid off all my debt and for the first time in my life, had actual savings. The absolute key to the sucess and the success of Simple bankers was the safe to spend and funding expenses automatically when paychecks come in. Oh and lastly, from expenses, you auto fund it with your paychecks and then it auto debits from the “envelope” when the charge actually processes. Also - if the bill fluctuates slightly from month to month - if it’s over what is set aside in the “envelope” it would just auto take from safe-to-spend what was needed to cover the charge. It would never decline because all of those expense and goal envelopes are all in reality just one checking account and their user interface/software is what would divvy up the money so you wound’t see a giant balance.
Anyway - just some thoughts from a devastated longtime Simple user.