Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this6:28 pm
May 20, 2016
Offline
I check my account regularly and I only received the notification via app yesterday. I haven't had any offers from Simplii in a long time. I moved all my money from Tangerine to Simplii for (now) since Tangerine are being a*****s. They provided my spouse a 5.75% offer and they only offered me 4.25%.
3:47 pm
November 5, 2022
Offline
Wow Simplii added 2 new services! It's a miracle.
They will pay interest monthly, AND if you check the offer page it says Activated with a check-mark!
It's no longer a secret whether or not it got activated. That looks to be the first service improvement in Simpii, maybe since forever.
10:35 pm
May 20, 2016
Offline
InterestThis said
Wow Simplii added 2 new services! It's a miracle.
They will pay interest monthly, AND if you check the offer page it says Activated with a check-mark!
It's no longer a secret whether or not it got activated. That looks to be the first service improvement in Simpii, maybe since forever.
I agree. I suppose they [finally] took into consideration feedback from customers who had very little to no balances in their accounts. But I wouldn't be surprised if they start adding fees for services that are currently included.
2:01 am
November 25, 2019
Offline
A Simplii CSR mentioned that they allow linking to an external bank account but only for CAD accounts. For their USD HISA, Simplii offers two ways to withdraw funds: get a USD draft (charges apply) or convert USD into CAD or another currency to be wire transferred abroad. When I mentioned that I would link my USD HISA at another bank with my Simplii USD HISA and then pull funds out of Simplii, the CSR mentioned that such a transaction may get blocked.
Has anyone linked their Tangerine USD HISA with Simplii USD HISA and then pushed and pulled funds from Tangerine side?
I don't think there would be any issues, but just want to make sure the link would work. I'm reluctant to fund my newly opened Simplii USD HISA if I can't pull the funds back to Tangerine.
4:55 am
May 20, 2016
Offline
dickyran333 said
A Simplii CSR mentioned that they allow linking to an external bank account but only for CAD accounts. For their USD HISA, Simplii offers two ways to withdraw funds: get a USD draft (charges apply) or convert USD into CAD or another currency to be wire transferred abroad. When I mentioned that I would link my USD HISA at another bank with my Simplii USD HISA and then pull funds out of Simplii, the CSR mentioned that such a transaction may get blocked.Has anyone linked their Tangerine USD HISA with Simplii USD HISA and then pushed and pulled funds from Tangerine side?
I don't think there would be any issues, but just want to make sure the link would work. I'm reluctant to fund my newly opened Simplii USD HISA if I can't pull the funds back to Tangerine.
No, you can't link Simplii USD from Tangerine as I mentioned in this forum two weeks ago (https://www.highinterestsavings.ca/forum/simplii-financial/failed-to-link-usd-account-from-tangerine/). When I tried to make the link, I got the following email:
"You recently added a new external account to link to your Tangerine Account(s), and to set up the link, we needed to deposit two small amounts of money into that external account. However, your other bank returned the deposits to us, due to an issue with the account."
7:10 am
November 5, 2022
Offline
6:12 am
November 5, 2022
Offline
Fair play on Simplii, they do show that you are enrolled in the offer now inside the account.
And they do payout bonus interest just after the 1st of each month so you can calculate it. So those are 2 improvements.
11:31 am
October 27, 2018
Offline
InterestThis said
Fair play on Simplii, they do show that you are enrolled in the offer now inside the account.
And they do payout bonus interest just after the 1st of each month so you can calculate it. So those are 2 improvements.
My spouse, my son & I all received our August promo interest on Sept 3rd. My daughter did not. Checking her account, the offer page indicates "Activated" however she did not recall accepting the offer nor receive an "Enrolled" email. Tried calling in but the wait time is in excess of 30 minutes.
I seem to recall reading somewhere earlier that if you did not get an Enrolled email, then you're not enrolled.
We're going to plead our case (cause the offer page says "Activated") but don't hold out much hope. In the interim, we pulled all her funds out of SF HISA and into Tangerine's offer. Live and learn.
Next time, we'll accept the offer, wait for Enrolled email, then wait until the end of the month before depositing some funds into SF's HISA, then check the following month for Promo interest. If everything's ok, then might deposit more funds.
2:51 pm
November 5, 2022
Offline
The offer email was delayed for a few days I recall. I called in to verify the start date, and also screenshot a chat confirmation of the start date.
11:16 pm
April 6, 2013
Offline
The "You're enrolled!" e-mail is not required. However, the e-mail identifies the Simplii HISA's that are enrolled in the 5½% offer:
Simplii Financial™ July 31, 2024 to November 15, 2024 Promotional Savings Rate Offer 5.50% for Existing HISAs
…
How to Enrol in the Offer
… Following enrolment, you will receive an email confirming the Eligible HISAs that are enrolled in the Offer. For clarity, any new HISAs opened during the Offer Period [between July 31, 2024 and November 15, 2024 at 11:59 PM UTC] by invited clients are ineligible for this Offer.
You should make sure you are contributing to an Eligible HISA that is enrolled in the Offer based on the account identified in the enrolment confirmation email. Deposits made to an account that is not enrolled will not be eligible for the Offer.
The enrolled accounts are identified by the last four digits of their account number.
1:11 pm
January 10, 2017
Offline
I made a deposit on 20 August 2024.
I received interest for August 2024 as follows:
Regular interest on 28 August and;
Bonus Interest on 3 September.
The total of these 2 interest amounts appears to only cover the period 20 to 28 August (instead of 31 August), inclusive.
Can anyone else confirm this?
1:47 pm
February 6, 2019
Offline
Hi Lodown, I am on the 6.25% offer, as a new client. My experience is the same as yours and apparently this is done by design. Your next interest payment is supposed to start with Aug. 29, so you do not lose any interest. For more details, please see post# 32 here: https://www.highinterestsavings.ca/forum/simplii-financial/new-client-offer-earn-6-25-for-153-days/page-2/
10:03 pm
April 6, 2013
Offline
I'm on the Simplii 5½% offer for new deposits. My August interest payment was also made August 28. Yes, the payment was for the month ending and including August 28 (not for calendar month of August).
Simplii has not been paying interest by calendar months as far back as late 2017.
7:10 am
November 18, 2017
Offline
Many, many financial institutions have month-ends that are not at calendar month ends. VanCity used to (or maybe still does?) and Coast Capital does, at least.
RetirEd
8:48 pm
May 20, 2016
Offline
RetirEd said
Many, many financial institutions have month-ends that are not at calendar month ends. VanCity used to (or maybe still does?) and Coast Capital does, at least.
I generally avoid the "many" financial institutions you mentioned, opting instead for Manulife, EQ, or Tangerine.
The numerous banks that refuse to pay interest on the last or first day of the month—often resorting to dates like the second business day—also typically impose service fees for their chequing and/or savings accounts. My experience with them was brief, driven only by their fleeting promotional savings interest rates.
These greedy banks, by using unconventional interest payment dates, exploit consumers while enjoying ever-increasing profit margins, particularly as people tighten their belts. This practice exemplifies "greedflation," where the big banks prioritize their bottom line over fair treatment of customers.
8:51 pm
May 20, 2016
Offline
Norman1 said
I'm on the Simplii 5½% offer for new deposits. My August interest payment was also made August 28. Yes, the payment was for the month ending and including August 28 (not for calendar month of August).Simplii has not been paying interest by calendar months as far back as late 2017.
I am ok in part with Simplii only because they don't have service fees unlike CIBC which uses the same system. I can transfer my deposits and interest earned freely without any cap or service fees. The lowest chequing account service fee is $4 with CIBC and RBC but it's limited.
1:28 am
November 18, 2017
Offline
Hmm: Coast Capital just increased some fees - but I don't pay them as I'm too old. 
There is no loss of interest if the payer has its interest cut-off and statement dates matching, as VanCity long did.
RetirEd
10:43 pm
April 6, 2013
Offline
RetirEd said
There is no loss of interest if the payer has its interest cut-off and statement dates matching, as VanCity long did.
I agree.
My August interest payment was made Wednesday, August 28. The interest for the rest of the month (August 29, 30, and 31) wasn't lost.
I checked the September interest payment Simplii made Wednesday, September 25. The payment included the expected interest for August 29, 30, and 31.
7:48 am
December 7, 2023
Offline
Simplii is a division of CIBC, it will NOT steal your interest. I trust CIBC and Simplii, I thought Simplii made a mistake about interest amount, I called Simplii and CSR told me interest is calculated by computer system.
10:28 am
February 10, 2023
Offline
Has anyone tried to verify that the correct amount of interest is being added?
I've done the math on my son's, my wife's and my own account, and the promotional interest rate/amount always falls short. I do similar calculations at Tangerine and i'm always within a dollar or two or within a fraction of a tenth of percent.
At Simplii, I factor in the balance at Jul29th since it doesn't get the promo rate... similar to Tangerine's model.
My son's balance through Sep didn't fluctuate at all and that made the calculations simpler. He attracted 0.34% or 0.36% for regular interest on Sep25 depending whether you used 30d for Sep or 28d since the last regular interest payment on Aug28. And that aligns nicely with the posted rate of 0.35% for his tier. But for the promo interest he attracted 4.7% for the 30d of Sep or from date of the Sep3 promo interest deposit for a combined rate of 5.05% .... falling far short of the total offered 5.5% promo rate.
Please write your comments in the forum.