Yes, Simple is safe. Simple offers a bank account provided by BBVA USA, which is insured by the FDIC. As an account holder at an FDIC-insured financial institution, you’re protected for up to $250,000 against loss if the bank were to fail. Additionally, Simple offers several security features to help protect your account. These include two-factor authentication, push notifications so you’re aware of each transaction made on your account, and the ability to block your card if it’s lost or stolen.