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Email this5:21 am
March 21, 2017
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saver333 said
Sorry to all who didn't get the offer .. and to all those they don't actually pay out to in the end (hopefully never the case!).
OK, this is silly.
They say Promotional Interest will be paid in March 2018, as PCF has done for many years (usually between 10-15 of month).
7:06 am
March 30, 2017
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Based on what has been reported here and RFD, seems like very selected few were being "targeted" for the 1.75-2.5% rate extension.
PCF used to do that before and I was never targeted for whatever reason. I am very active to moving my money around and maybe thats one of the criteria to filter guys like me out.
7:25 am
September 11, 2013
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savemore....., that's my impression too. And if I ran an fi I'd too be very keen to filter out ratechasers who have no other lucrative business with me as their money is gone the moment they've got a better option and then I'm scrambling if I've loaned that money out. Way better to focus on attracting locked in savers, like with GICs.
7:28 am
December 17, 2016
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Bill said
Way better to focus on attracting locked in savers, like with GICs.
I think that lesson for FIs was blasted out, loud and clear, with the Home Capital fiasco - you just have to look at Oaken's GIC rates vs their "HISA" rate, as proof.
7:38 am
October 11, 2015
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I spoke to Simplii this morning and they would not make an offer until March 1st. I told her that some of my "friends"(hey guys, you're my friends!) had offers emailed to them and others logged into their accounts and found offers. The CSR told me that she cannot offer anything and I would need to call back March 1st. I mentioned that I had a lot of money there. Still didn't get a nibble. Asked her what the daily limit is to remove funds. She said that the way I have it set up, I can move the whole thing.
That's all I know! Will call back March 1 and report back to the group!
9:58 am
March 30, 2017
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Bill said
savemore....., that's my impression too. And if I ran an fi I'd too be very keen to filter out ratechasers who have no other lucrative business with me as their money is gone the moment they've got a better option and then I'm scrambling if I've loaned that money out. Way better to focus on attracting locked in savers, like with GICs.
yeah esssentially they still rely on the pay minimal on sticky deposit, then lend it out as loan/mortgage and capture that fat spread. Makes no sense for someone to just leave the deposit at 1 FI even when its clear others pay more.
12:11 pm
October 21, 2013
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dentgal said
I spoke to Simplii this morning and they would not make an offer until March 1st. I told her that some of my "friends"(hey guys, you're my friends!) had offers emailed to them and others logged into their accounts and found offers. The CSR told me that she cannot offer anything and I would need to call back March 1st. I mentioned that I had a lot of money there. Still didn't get a nibble. Asked her what the daily limit is to remove funds. She said that the way I have it set up, I can move the whole thing.
That's all I know! Will call back March 1 and report back to the group!
Top It Up said
I think that lesson for FIs was blasted out, loud and clear, with the Home Capital fiasco - you just have to look at Oaken's GIC rates vs their "HISA" rate, as proof.
The only bank that was spooked by that was EQ, but they don't offer GICs, so there is no comparison.
It doesn't prove anything, really. First, Oaken's savings rates were never top of the heap Second, their business is mortgages As rates rise (like now), people who were hedging their bets with variable rates suddenly want to lock in, so there is greater demand for GIC money.
12:26 pm
December 17, 2016
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"Mortgage lender Home Capital said it expected to have $134 million left its savings account, down from $1.4 billion two weeks ago."
It was ONLY their industry leading 3.1% 5-year GIC, back in May 2017, that stopped the overall cash hemorrhaging at Home Capital and the flimsy wave of the cap from Buffett.
And their 3.25% 5-year GIC, continues to lead the industry, today. That info courtesy of Peter's great GIC comparison chart found here
https://www.highinterestsavings.ca/gic-rates/
BUT, whatever ...
1:31 pm
October 21, 2013
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re: #48. Those facts have not been in dispute.
11:48 pm
June 15, 2016
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OT : The bonus interest from the recent promo of 3 % was paid out yesterday on March 8 - 2018 ( Thursday )
This new TARGETED extension promo interest should come by July 15 - 2018. Some have got 2.5 % , some 1.75 % and some NADA.
I was in the NADA - ZILCH - ZERO category 
So my money is in Tangerine @ 2.5 % till May 31, lets see what happens after that
5:21 am
February 13, 2018
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Thanks rfdm4g4g9. Received mine as well. I am in the same boat as you but only 2.5% till April 3rd at Tangerine as I was caught with the earlier dates for the snapshot of account balances. By calling in I was only offered 90 days.
9:34 am
March 10, 2018
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I also did not receive the targeted extension promo. Does anybody have the fine print for the promotion from Nov 1st 2017 to Feb 28th 2018 for 3% on new deposits into TFSA or savings?
When I calculate the amount of interest to be paid out on the amount I deposited for the period of time it was in the account, I do not get the same amount that was paid out on March 8th. The only way I get the same amount is if I exclude weekends and holidays....
10:41 am
February 13, 2018
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Hgx27 check under expired promotions and click on that offer from Simplii
12:03 pm
April 6, 2013
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hgx27 said
…
When I calculate the amount of interest to be paid out on the amount I deposited for the period of time it was in the account, I do not get the same amount that was paid out on March 8th. The only way I get the same amount is if I exclude weekends and holidays....
SG posted a copy of the terms in November in this post.
Continuing the verification discussion in a separate topic.
6:40 pm
September 22, 2017
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Hey guys, this may be a bit of an offshoot, but is Simplii related.
Can CIBC use Simplii deposits for borrowing purposes?
6:18 am
June 15, 2016
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tcharger67 said
Hey guys, this may be a bit of an offshoot, but is Simplii related.
Can CIBC use Simplii deposits for borrowing purposes?
Probably yes, because Simplii is just a financial division of CIBC, even when you transfer money in & out - the external account linked shows up as CIBC, not Simplii.
If you see CDIC protection website, they don't even have Simplii listed as a separate bank, only CIBC. But Tangerine & Scotiabank are listed separately as CDIC protected - 2 different entities perhaps.
Scotiabank & Tangerine are a bit different. Tangerine is a wholly owned subsidiary of Scotia, and not just a division.
So I think if you have $ 100 K in CIBC Savings account and $ 100 K in Simplii Savings account - you are only CDIC protected for $ 100 K And not $ 200 K.
But if you have $ 100 K in Scotia Savings & $ 100 K in Tangerine savings, you will have separate protection for each $ 100 K , so $ 200 K total.
11:38 am
January 12, 2018
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To tgaucher,
I understand your point but I think that we have entered a new era. These "new banks" are able to parse their data and make business decisions based upon their objectives. The challenge to us, as savers, is to look to advantage ourselves by being always willing to move our money to the best location. All is fair...
I have received nothing from Simplii but I can readily understand that I am exactly the type of customer that they do not need to target. The only way I can change that is by being willing to move my savings.
Doug
8:23 am
February 20, 2018
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.. I too received interest Mar 8 for the previous promo period.
Any news if they'll be extending the promo for any clients beyond Jun 30th?
12:14 pm
May 27, 2016
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saver333 said
.. I too received interest Mar 8 for the previous promo period.Any news if they'll be extending the promo for any clients beyond Jun 30th?
Not that I've seen or heard. Interesting that you should ask, because I actually queued up a bunch of 6/26 transfers out earlier this morning to drive my 6/30 balance down to $1 just in case they pull the old "new money only" trick should a new promo suddenly materialize. I can always move the funds back in if something attractive springs up
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