2.30% Promo interest on new deposits to Savings, RRSP, TFSA (October 1, 2020 – March 31, 2021) | Page 3 | Simplii Financial | Discussion forum

You're right, Norman1, so the question is what is a "deposit account"? On their site under "Accounts" they only list the savings and chequing accounts, they don't list GICs as they're listed under "Investments" and under there it refers to opening a GIC "account". So not clear. Problem for Jim is how reliable is the answer going to be from a phone agent?

Perhaps I’m missing something here, but couldn’t Jim borrow the equivalent of his GIC for a few days, deposit to his Simplii and then pay off the loan when his GIC matures?

Not sure I would call it a double standard. I think they simply do not want people to do this and suspect they simply do not have control for pushes into the promo account based on how they set things up. Maybe they figure so few people will know about it they are willing to accept it as it stands. Not sure.

Either way, now you know. And some banks do not even need ANY form...simply enter all the required numbers to create the link and they instead use micro deposits to confirm the link.

I was successful in linking in from an FI, that, as you pointed out, just required the numbers. It sent the two micro deposits, and the link is now made. I do feel slightly quesy doing this, in that DUCA leaves no doubt that it is not "permitted". Does anyone happen to know if there is a cap on the amount that earns that 2.5% rate?

I found this Q&A on the 2% page

If I have an RGIC or GIC that has reached the end of its term, will I get the special interest rate if I re-invest the money in a HISA, TFSA or RRSP ?

Yes! The money will still count as new funds into your HISA, TFSA or RRSP account, as long as your savings account's closing balance is higher than its starting balance beginning October 1. Turns out the old saying is true: it pays to re-invest.

... Hope this helps

Jim Sherat, pls be informed of Patch002's finding in #6 here. In that light, JenE's suggestion in #44 is not a bad defensive. Best of luck.

I am on the current Simplii 2.0% offer that ends Oct 30, 2020 and I received the 2.3% offer which I accepted. I did not receive a confirming email but I called them today to confirm the 2.3% rate applies.
When the 2.3% offer appeared it said:

Your eligible deposits in October will earn interest from your current savings offer (which ends October 30th), plus will count towards your eligible deposits for this new 2.3% offer.

I read that to me that any deposits in October will earn 2.3%. (and not 2.0% + 2.3% which would be awesome but highly unlikely).

Accepted the offer on Tuesday, and phoned, promised a confirming e-mail by the end of the day - no e-mail. Next day (Wednesday) phoned in the AM and told the confirmation can take 24 hours. Late in the day, still no e-mail, told on the phone by a supervisor we get the 2.3% and the e-mail will come. Thursday, no e-mail, said they would resend, again verbally saying we get the 2.3%. Friday AM, still no e-mail (yes of course we checked junk mail etc.). How many hours do I have to waste trying to beg for basic service.

What a clunky bank! Not just the delayed payment of promo interest either. No way of seeing what overall rates are being paid when logged in. No list of offers applicable anywhere. Even the confirmation when it arrives, as I have seen what's in it, is poorly worded and somewhat contradictory, especially if you have multiple savings accounts.

I don't trust them, as alluded to by others commenting here, hence the need for written confirmation.

dougjp said
Accepted the offer on Tuesday, and phoned, promised a confirming e-mail by the end of the day - no e-mail. Next day (Wednesday) phoned in the AM and told the confirmation can take 24 hours. Late in the day, still no e-mail, told on the phone by a supervisor we get the 2.3% and the e-mail will come. Thursday, no e-mail, said they would resend, again verbally saying we get the 2.3%. Friday AM, still no e-mail (yes of course we checked junk mail etc.). How many hours do I have to waste trying to beg for basic service.

What a clunky bank! Not just the delayed payment of promo interest either. No way of seeing what overall rates are being paid when logged in. No list of offers applicable anywhere. Even the confirmation when it arrives, as I have seen what's in it, is poorly worded and somewhat contradictory, especially if you have multiple savings accounts.

I don't trust them, as alluded to by others commenting here, hence the need for written confirmation.   

Same situation here. Accepted offer on the first of October when I logged in. Called them yesterday to confirm and request email confirmation. Have never received email from Simplii for previous promos, even escalated it to their Ombudsman last promo and they just argued with me and told me they had sent emails. Even changed email address with same results. Asked CSR for location on website where I could read terms and conditions and was told it comes with the email confirmation. I don't expect to receive it and really only called to have it recorded for confirmation. Still get all their marketing emails. The problem seems to be that the email confirmations are automated and if it isn't working for someone , they will not make any effort to correct it.

Well I did finally find a spam folder on my Blackberry. Never knew it was there. Empty. Never had any issues receiving emails on this email account for the last six years except for Simplii promo confirmation emails. If they just sent it through their marketing department I would get it for sure. I received 2 in September. It isn't really a big deal but really annoying that I can't get an online bank to fix this , especially because of the way they configure their promotions to be invisible once enrolled.

Oscar said
Well I did finally find a spam folder on my Blackberry. Never knew it was there. Empty. Never had any issues receiving emails on this email account for the last six years except for Simplii promo confirmation emails. If they just sent it through their marketing department I would get it for sure. I received 2 in September.…

That spam folder on your Blackberry device may be for the Blackberry's spam filtering.

The problem may be that the mail provider has filtered the message out before the Blackberry can even see or download the message! That was what was happening with me. There was no indication that the mail provider was filtering out messages.

I had a look at the Simplii marketing messages and the Simplii confirmation messages. They are different.

The confirmations are from confirmation@NoReply.Simplii.com with no DKIM anti-spoofing authentication.

The marketing messages are from info@email.simplii.com and have DKIM anti-spoofing authentication.