How to see interest rate on savings account? | Page 2 | Simplii Financial | Discussion forum

Top Dogg said

How come you're not yanking the funds? Weren't you on the 5.50% promotional interest rate that ended on Sunday March 31st?  

No. I am a NEW CLIENT on the 6% interest rate for 5 months.

zgic said

I opened a new Simplii account for the 6% promo for 5 months. So will I NOT see the first month March interest on April 2? Today I logged in to see no promo interest. Do I have to wait till 1st week of August? Omg
Anyone here has opened Simplii account for the 6% promo please advise on when you received the promo interest. Thank you.  

I did the same. I logged in today and the promotional interest was there with a posted date of April 2nd.

Lamaison said
Simplii's regular rates for anything under $1M range from pathetic (o.40%) to very low (1.25%) yet for anything over $1M was 5.50% last I looked. Not much doubt as to their preferred customer!! Maybe they just don't want their biggest customers ($1M+) playing their Tangerine style lottery games!!  

It is a bit peculiar. I can’t imagine this being a real world scenario but if they do have lots of clients with over $1M, wouldn’t it make Simplii very vulnerable? Funds not covered by CDIC are prone to fleeing at the first sign of danger.

InterestThis said
Simplii is designed to be minimally functional.
There is also a wide open backdoor to the account, with the Global Money Transfer which you cannot turn off or limit, so if you get hacked with a trojan keylogger about 150K could vanish from your account and tough luck for the customer. The money is gone overseas.
Have an official complaint in to get Global Transfer turned off, and for sure there will be no response from Simplii for months, and then they will say you cannot turn it off or limit it.
https://www.simplii.com/en/global-money-transfer.html  

I am hearing all sorts of things here for Simplii, which are worrisome.
SO, I just now went to my Simplii account to check this and clicked on Global Money Transfer and I get this.
We’re Sorry. You are not eligible to register for Global Money Transfer. Please Call Simplii Customer Service 1 (888) 723-8881 for further assistance.

So probably seeing this is a GOOD sign?.

zgic said

I am hearing all sorts of things here for Simplii, which are worrisome.  

If I were you, I would ignore them. Every bank provides capabilities to transfer money internationally. Nothing’s wrong with CIBC’s security.

My comment on very large cash holdings fleeing was from the “hypothetical” category, also to be ignored.

Simplii basically says if you lose your money...NUTS TO YOU.

https://www.payments.simplii.com/fxc/fx/assets/documents/tnc/IR_Registration/v5/TermAndCondition_en.pdf

No Cancellation of a GMT (not applicable to the Pick-up Option).
Once you make a request for us to send the GMT and the funds/fees have been withdrawn
from your account (the “Account”) or charged (as either a pending or posted transaction) to
your credit card account (the “Credit Card Account”), the GMT may not be cancelled.

Intermediaries.
We may engage Intermediaries selected in our complete discretion to make the transfer. We
shall not be liable to you for any such selection made by us, the Recipient, or another
Intermediary.

You understand and agree that, except as otherwise provided in this Agreement,
and in addition to those limitations on our liability set out elsewhere in this Agreement, we are
liable to you only for direct damages resulting from our gross negligence, fraud or willful
misconduct arising directly from our performance of our obligations under this Agreement; we
will not be liable to you for any other direct damages. In addition, we will not under any
circumstances be liable to you for any other damages, including, without limitation, indirect,
incidental, special, punitive or consequential losses or damages, loss of profits, loss of
revenue, loss of business opportunities, or any other foreseeable or unforeseeable loss
resulting directly or indirectly out of this Agreement or the Service provided to you, even if we
were advised of the possibility of damages or were negligent. These limitations apply to any
act or omission of us, our affiliates, agents or suppliers, whether or not the act or omission
would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of
law. In the event we are liable to you as provided in this Agreement, we will not be
liable for any amount exceeding the amount of the GMT. Gross negligence in this
paragraph means conduct (whether through action or inaction, or through words or silence)
which is (i) a marked and flagrant departure from the conduct ordinarily expected of a
reasonable and prudent person in the position of CIBC, or (ii) so wanton and reckless as to
constitute an utter disregard for harmful, foreseeable and avoidable consequences

InterestThis said
Beware of false information. Tangerine does NOT have Global Money Transfer, for example.
BMO has had many people ROBBED through Global Money Transfer recently as seen in the media.
Would not listen to certain people who like to imagine they have all the answers, it's your money.  

Are you moving out of Simplii or already done so?
Have you closed all your accounts with Simplii or are in the process of doing so?

Tangerine might have limited capabilities but its parent Scotia certainly has this option.

https://www.scotiabank.com/ca/en/personal/ways-to-bank/international-money-transfer.html

That does not mean that Tangerine is safer than Scotia and that Scotia/Simplii are somehow unsafe.

zgic said

I am hearing all sorts of things here for Simplii, which are worrisome.
SO, I just now went to my Simplii account to check this and clicked on Global Money Transfer and I get this.
"We’re Sorry. You are not eligible to register for Global Money Transfer. Please Call Simplii Customer Service 1 (888) 723-8881 for further assistance".

So probably seeing this is a GOOD sign?.  

I just did the same and got the same message re: not eligible for GMT (which is GOOD). Have HISA only if that makes any difference.

Also received new deposit offer of 5.50% to July 15. No email (yet) but right there upon logging in.