On the naming of the account, it is a little more complicated. Everyone gets, at least, two accounts with us. One is a joint account, that is named 'Simple', but titled for the benefit of (FBO) our customers. But titling it such, all FDIC insurance flows through to the individual customers.
In addition to the co-mingled account, everyone gets an individual interest baring account, which is directly titled in the name of the customer.
Either way, you can access your funds at any time.
In the case of the co-mingled account, we generate pseudo-account numbers that correspond to your portion of that account.
It is a complicated answer, but unfortunately, banking is complex. We do a lot of heavy lifting on the back end to make it as simple as possible for you.
I wish Simple the best of success, but it seems clear that a more technically correct name for the company would be Complicated.
I understand that your goal is to create the appearance of simplicity via complicated obfuscations. Those of us who are concerned about where our accounts live, and how they're structured, are not your prospective customers. So while I have no need for an invite, I wish you the best of success. Certainly some people will enjoy your service.
The financial system is inherently complicated. Having an account with a traditional bank is no guarantee that your financial life will be free of intermediaries. Banks outsource everything from IT to customer support to marketing and fraud analytics. Unless you either run a bank or work with a very basic credit union, you probably don't have the full picture of what's going on with your bank accounts.
Banking with us does not obfuscate where your funds reside. It does, however, mean that you don't have to deal with a bank for support and technology issues. Instead, you get to deal with a company that's focused on those things rather than on managing a treasury, making loans, etc.
psuedo-account numbers do not inspire confidence that my money is safe. please put a HOW IT WORKS section on your website and go into details, because this just seems insecure and shady
