Simple (BBVA USA Bank) $250 Bonus for $10,000 Goals Deposit

My Money Blog has partnered with CardRatings for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Thank you for your support.

(Update: Offer extended to an open date by 8/31/19, funded date by 9/16/19, and maintain date until 12/31/19. Thanks Robert for the tip.)

Simple was one of many fintech startups that tried to add fancy tech and smartphone app sprinkles to your vanilla checking account. They were acquired by the big European-based bank BBVA in 2014, but never really took off. It looks like they are making another push by adding high-yield “Protected Goals” accounts that earn 2.02% APY (as of 7/10/19) and offering additional $250 bonus if you deposit $10,000 and meet certain requirements and deadline dates:

  • Open a new Protected Goals Account by 7/31/19 4:59 PM PT.
  • Deposit(s) totaling $10,000 or more must post to the new Protected Goals Account by 8/15/19 4:59 PM PT.
  • Maintain a balance of at least $10,000 in the new Protected Goals Account through 10/31/19 4:59 PM PT.
  • Qualifying customers will receive the bonus credit to their Protected Goals Account by 11/15/19 4:59 PM PT. Accounts must be open and in good standing at the time of bonus credit.

You can earn $250 bonus for each new Individual or Shared Protected Goals Account, for a total of $500. This means a couple could both open accounts and technically earn $750 total ($250 each for two individuals, plus $250 for one shared). Protected Goals Accounts opened prior to 7/1/2019 do not qualify. FDIC-insured and all that. Thanks to commenter CM for the tip.

It looks like you’ll have to open their base checking account as well if you don’t have one already. Move money into the base checking, and then into a new Protected Goal account. Basically a 2.5% bonus on $10,000 if you keep it there for 90 days, which makes it roughly 10% APY annualized. The bonus is on top of the standard interest rate, currently 2.02% APY (as of 7/10/19). This combination makes it a great 3-month rate at that balance size when compared to my most recent update of best interest rates.

My Money Blog has partnered with CardRatings for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

User Generated Content Disclosure: Comments and/or responses are not provided or commissioned by any advertiser. Comments and/or responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.


  1. Reading the Doctor of Credit article on this made me decide against doing this offer. In the comments many are saying it’s a bait and switch where you must open a separate account first, then once that account is opened you can then attempt to open a Protected Goals account only to find out you are quote “ineligible”.

  2. Personal Capital started offering savings accounts with no minimum balance, 2.3% APY. However there is no bonus beyond whatever referral you can get for sharing about Personal Capital, which I think is $20.

  3. Jason Boxman says:

    I didn’t notice what the minimum balance requirements are? (To avoid account fees.) For an amount this large, I’d want to liberate the money from the account as soon as I meet the terms of the bonus and place it somewhere with a higher return; I have a 4 week t-bill ladder currently. (And I’d want to avoid any early close fee if there is a minimum balance.)


  4. Has anyone done all the application(s) for self, spouse, and joint to get the max $750?
    Ready to do the same …


  5. I tried to open this account and was denied. The denial message specifically stated that they can’t tell me why the application was denied. I have excellent credit, and I’ve never been denied for an account before in my life. Don’t waste your time.

  6. wonder if Jonathan has any luck opening the account at Simple

  7. Just a heads up for those who are looking to do this offer but are new customers at Simple, which ironically, by the definition of the promotion you have to be as accounts opened before 7/1/19 are not valid.
    There are some onerous “spend limits”:
    that limit the amount of transfers in/out during the first month, making getting $10k into Simple a bit of a pain. It’s still doable through some combination of other methods (direct deposit, mail in a check (since there are also limits on photo check deposit during the first 30 days), some combination of third party services, or wire) but it won’t be as simple as doing an online external transfer in one shot.

    • Thanks for sharing your experience. (Technically you could have had a their normal checking account as an existing customers, just not their new Goals account.)

      Yes, for some reason Simple limits ACH transfers to/from an external account to $5,000 cumulative during the first 30 days, *when initiated at Simple*. However, I’m pretty sure that you can simply initiate a transfer at another bank (Ally Bank, Marcus, CIT, etc.) and there are no limits.

      • Geof Coeling says:

        I had this same issue but I love this idea to initiate from my other account. I will try that!

      • Thanks Jonathan! Fair enough, it does say “Protected Goals Accounts”

        Transferring from another account – so obvious! The Protected Goals account creation flow sent me directly to transferring funds from another account or cash from the “Safe to spend” account before opening so I totally didn’t realize I could initiate from another bank.
        Was able to add my Simple account in Ally (Heads up: The instant verification did not work for me, likely because it identified the account as a regular BBVA account, but the trial deposit method worked.)
        To Simple’s credit, they actually called me today to follow up on my account opening and the promotion. They also mentioned this issue about transfer limits and provided the same advice, that I could transfer from another bank.

Leave a Reply to ern Cancel reply