Hi, cofounder of Simple here.

It's extremely unlikely that we'd ever partner with an institution like BofA. We chose bank partners who are comfortable with our vision, and that includes not charging outrageous fees and engaging in other customer-hostile practices. The big banks have shown time and again that they're not in business to act in the best interest of their customers, and that makes them poor partners for us.

We don't currently have plans to allow customers to select the institution with which their funds reside, but it's something we'll take under consideration. Thanks for your thoughts.