This is basically just another "big company buys smaller company" story, but if you're a Simple customer (or have been interested in checking out the service), then it's still worth paying attention to.


Simple, the online-only bank formerly backed by Bankcorp will be changing hands this week, as BBVA has purchased the small company for a reported $117m. According to Simple, however, this change shouldn't affect its users in any way – daily operations will continue to carry on as they have in the past. The company will still operate as an independent entity, it will continue to be headquartered in Portland, and all customer account numbers, cards, and and the like will remain the same. In short, Simple customers won't need to do anything differently, which the company insists will continue into the long-term.

If you're a Simple customer and are interested in more details of the acquisition, there are two press releases on the matter (1, 2), along with Simple's... simple... Q&A and blog post.