The simple closing of the bank goes wrong, as a result of which customers no longer have access to their account
The online bank Simple closed on Saturday and had to seamlessly transfer customers’ accounts to its parent company, BBVA. But instead, many users found themselves unable to access their bank account at all, as BBVA’s website returned a range of error messages, from “system error” to warnings that their account information did not match.
The transition has gone so badly BBVA’s US website now opens with a big red flag warning users of longer customer service wait times. Anyone who visits the simple transition page sees another red flag, apologies for the trouble.
“For simple customers converting to BBVA, this is not a good conversion experience for many of you,” read part of the message. “We know this, and we sincerely apologize.”
Simple opened to customers in 2012 and was supposed to provide a digital approach to banking. In fewer words, it should be “a bank that isn’t bad.” quote one of the co-founders. The service had a website and app that split your expenses and made it easy to categorize payments, send money, and set savings goals. It was bought by BBVA in 2014.
BBVA said in January that it would close Simple later in 2021. The decision came from the company, which was “re-evaluating its goals” as part of a planned sale to PNC Bank, which reached an agreement to acquire BBVA’s US operations in November 2020. acquisition has not yet been completed.
Accounts successfully migrated from Simple to BBVA on Saturday, but technical issues prevented customers from logging in, a BBVA spokesperson said. The edge. That led to a cascading series of problems. “Due to the large number of customers trying to sign up for mobile banking and online banking at the same time, there were technical issues with the sign-up process, which led to high call volume in our call centers, overloading the system and causing longer than usual waiting times,” said the spokesman.
Debit cards, ATMs, checks and scheduled transactions were still working properly, according to the spokesperson. Although online and mobile account access is still not available for users who are facing problems.
“We know this conversion process has not been smooth for our incoming Simple customers and we sincerely apologize to them,” said the spokesperson. “We’re working to make it right, including extending hours in our call center and adding staff to handle incoming calls.”
It seems that some people have gained access to their accounts after waiting or working with BBVA customer service. Judging by the responses on Twitter from Simple’s highly online user base, many people still cannot access and have not been able to get help from BBVA’s customer service team.
BBVA has not provided a timeline for when it expects to restore account access for all Simple users. In its banner post, BBVA wrote that the company is working to get it back online as soon as possible.