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Email this8:45 pm
April 9, 2019
Offline
I decided to try Simplii to take advantage of their '5 months' 5.25% promotion.
Today filled the initial forms. the process - if I understand it correctly: they will check my credentials, send me back email if I am approved and then I have to wait until card will come by mail. All together - a week? And then I need to link account to my bank. Move money. Yet today I received email already that my promotion starts today. So it will certainly not be full 5 months when I will be receiving 5.25% on my deposits.
Deposits and withdrawals to linked banks happen in blocks no more than $50k. Online rep said one can move unlimited amounts in same day making multiple transactions. Can anybody share experience how it is to move money out of Simplii?
Thank you.
8:56 am
December 23, 2018
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Online rep. gave you the correct answer by moving unlimited amounts in same day by calling them. Also, you can do multiple transactions @$50k in same day by online banking as well.
2:36 pm
April 6, 2013
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Those limits apply to automated funds transfers originating at Simplii.
The Simplii savings account can received direct deposits. So, one can push funds electronically at another online financial institution into the savings account.
One can open a Simplii chequing account and move funds from the savings account to the chequing account in real time. Then, one can originate automated funds transfers at another online financial institution to pull the funds out of the chequing account.
It is a bit of a hassle to set up a link at Simplii to an external account. Simplii requires either (1) a voided real cheque or (2) a direct deposit info form that has been stamped by a teller. Simplii won't accept those faux void cheques unless it is stamped by a teller.
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