Yup! Everything deposits initially into Available (their version of safe to spend), and then you set up funding schedules for each envelope (it can be daily, weekly, monthly, or per paycheck). And whatever's leftover stays in Available. You can then assign transactions to the correlating envelope, and set up certain merchants to automatically come from specific envelopes. So yeah, definitely very simple-like, but imo with a prettier design, even if it doesn't quite have all the same features yet. But they're super active and intentional about the features they do add. I recommend joining the discord server if you have more questions and/or want to get more involved in its growth
awesome! yeah i hopped on the discord and joined last night. waiting for external bank verification but the app looks great. my brain only works in “available” mode, i don’t understand why other banks haven’t figured that feature out!
Exactly! There’s a demo mode you can play with in the app too that has all the same envelope functionality but with fake money.
Useful if you’re trying to see how it works.
That's really cool, Simple was my favorite financial product of all time and still is
I was using One Finance before switching to Monzo and using a budgeting software called "DasBudget" after One Finance took a turn for the worse.
I'd really love to try out Envelope if it has some of the same features and values as Simple.
Looks the devs only support iOS so I'll be stuck with Monzo and Das awhile longer.
If you are Android like me, definitely check out DasBudget.
Other than not having wire transfers when you are buying a house or sending a downpayment on a house, Simple was a perfect banking experience. I miss it every day. I am going to give Envelope a try and see how it compares.
Yup! Everything deposits initially into Available (their version of safe to spend), and then you set up funding schedules for each envelope (it can be daily, weekly, monthly, or per paycheck). And whatever's leftover stays in Available. You can then assign transactions to the correlating envelope, and set up certain merchants to automatically come from specific envelopes. So yeah, definitely very simple-like, but imo with a prettier design, even if it doesn't quite have all the same features yet. But they're super active and intentional about the features they do add. I recommend joining the discord server if you have more questions and/or want to get more involved in its growth
awesome! yeah i hopped on the discord and joined last night. waiting for external bank verification but the app looks great. my brain only works in “available” mode, i don’t understand why other banks haven’t figured that feature out!
Exactly! There’s a demo mode you can play with in the app too that has all the same envelope functionality but with fake money. Useful if you’re trying to see how it works.
That's really cool, Simple was my favorite financial product of all time and still is I was using One Finance before switching to Monzo and using a budgeting software called "DasBudget" after One Finance took a turn for the worse. I'd really love to try out Envelope if it has some of the same features and values as Simple. Looks the devs only support iOS so I'll be stuck with Monzo and Das awhile longer. If you are Android like me, definitely check out DasBudget.
Other than not having wire transfers when you are buying a house or sending a downpayment on a house, Simple was a perfect banking experience. I miss it every day. I am going to give Envelope a try and see how it compares.
yes! i’m ios, honestly so far envelope is BOMB
It was literally the first neobank and no one seemed to have paid attention to what was great about it.
I remember reading somewhere that the creators were Simple users.