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Email this12:02 am
October 21, 2013
Online
As regards the App question, it seems, then, that one must first open the HISA, then wait a couple of days to be safe (so that they don't claim you opened chequing first and thus not eligible), then open chequing, and wait for a debit card or similar, for which one must have a chequing account(?). All of this would take a minimum of a couple of weeks, which would be subtracted from your 153 day offer, which commences date of opening (post 14 above) The only other way to get money into the HISA is through EFT, but it seems that too might require a card to get started?
I think we saw another offer something like this a few months ago from a big bank, where it was impossible to get the full offer for the entire time stated, didn't we? I think it was of of those "up to" offers, where the summit is not reachable.
Or am I missing something?
7:23 am
April 6, 2013
Offline
I would open a Simplii chequing account first to trigger the creation of the Client Number. Then, I would wait for the bank card in the mail, activate the bank card, and register for digital banking.
I would then open my first Simplii HISA, through the app or online banking web site, within 30 days of the creation of the Client Number:
† The Simplii Financial™ High Interest Savings Account Promotional Interest Rate Offer for New Simplii Clients (the “HISA Offer”) is available between August 1, 2023 and October 31, 2023 (the “Offer Period”). The following terms and conditions (“Terms”) explain in detail how you can earn a special annual interest rate of 6.00% for 5 months on your first Simplii Financial High Interest Savings Account (“HISA”). To accept this offer, you must open an Eligible HISA during the Offer Period and make a deposit to your Eligible HISA during the Promotional Rate Period (as such capitalized terms are defined in these Terms).
1. Promotional Rate Period
If you meet the eligibility criteria and other conditions described in these Terms, the balance of your Eligible HISA (up to $1,000,000) will earn Promotional Interest for 153 days (which is about 5 months) from the date the HISA was opened (the "Promotional Rate Period").
2. Eligibility
To be eligible for this HISA Offer, you must:
- be a new client with no prior relationship with Simplii Financial (a “New Simplii Client”). To become a Simplii Financial client, you must apply and be approved for a Simplii Financial product. When you apply for your first Simplii Financial product, we will create a unique client identification number for you (your “Client Number”); and
- open a HISA for the first time as the primary accountholder during the Offer Period and within 30 days after your Client Number was created (“Eligible HISA”).
…
That way, the weeks of wait for the client card won't consume any of the 153 day "Promotional Rate Period".
7:27 am
April 6, 2013
Offline
RetirEd said
Norman1: That looks like it's saying an existing client may qualify by opening a joint account and making themselves the secondary member!
Existing clients cannot qualify. The joint HISA would have to be the primary owner's first HISA and opened by the primary owner within 30 days of the primary owner's customer number being created.
4:48 am
November 18, 2017
Offline
That would apply, though, for an existing member for under 30 days with a joint partner who was not already a member, though? There could be a lot of investors fitting into that class.
RetirEd
RetirEd
7:21 am
April 6, 2013
Offline
No, the existing Simplii client cannot open the joint Simplii HISA and have the HISA qualify.
The fine print requires the joint Simplii HISA to be opened by the partner, be the partner's first Simplii HISA opened, and be opened within 30 days of the partner becoming a Simplii client. There's also a requirement for the partner to make at least one deposit to the HISA:
… To accept this offer, you must open an Eligible HISA during the Offer Period and make a deposit to your Eligible HISA during the Promotional Rate Period (as such capitalized terms are defined in these Terms).
…
2. Eligibility
To be eligible for this HISA Offer, you must:
- be a new client with no prior relationship with Simplii Financial (a “New Simplii Client”). To become a Simplii Financial client, you must apply and be approved for a Simplii Financial product. When you apply for your first Simplii Financial product, we will create a unique client identification number for you (your “Client Number”); and
- open a HISA for the first time as the primary accountholder during the Offer Period and within 30 days after your Client Number was created (“Eligible HISA”).
…
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