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Email this10:22 am
July 21, 2019
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Simplii Financial
I had almost 3 million there and the max they did was 1.15%
Then I got an occasional 2.15% promo or a 2.5% GIC
So now I am moving everything out to all kinds of places.
Motive
Motus
Meridian
Tangerine is calling me back Monday to let me know if I get the intro rate because I was an old ING client. They say I don't qualify but when I told them the amount I was willing to transfer they said a supervisor would call me Monday.
Simplii right now is simplii nothing 
1:26 pm
February 27, 2018
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Hi MapleOne, welcome to the forum.
Dealing with tangerine, is like rolling the dice. Some customer service reps understand LARGE sums of cash, others just follow that boring script. I've pulled large amounts out of tangerine in the past because of their ignorance. In days gone by, a larger deposit meant a better rate of return.
Tangerine will let an existing customer leave their bank with 7 figures. Only to offer a "NEW" client a better rate with a deposit of $100. This new age math just boggles my mind.
1:30 pm
July 21, 2019
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Thank you for the welcome
I will come back here to let you know what happened with tangerine.
If not the Motive rate of 2.8 is very attractive.
1:42 pm
February 27, 2018
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Tangerine need cash badly. I will be interested in seeing their new debt / equity numbers on august 1st.
https://www.zacks.com/stock/chart/Bns/fundamental/debt-equity-ratio-quarterly
1:48 pm
February 27, 2018
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https://www.zacks.com/stock/chart/TD/fundamental/debt-equity-ratio-quarterly
https://www.zacks.com/stock/chart/RY/fundamental/debt-equity-ratio-quarterly
https://www.zacks.com/stock/chart/BMO/fundamental/debt-equity-ratio-quarterly
https://www.zacks.com/stock/chart/CM/fundamental/debt-equity-ratio-quarterly
3:54 pm
December 12, 2009
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Kidd said
Tangerine need cash badly. I will be interested in seeing their new debt / equity numbers on august 1st.https://www.zacks.com/stock/chart/Bns/fundamental/debt-equity-ratio-quarterly
I appreciate your zeal and entrepreneurial spirit in searching out information on Tangerine, Kidd, but I would just add that Tangerine's debt/equity ratio could be severely skewed to the fact that they've got something like $30-40 billion in deposits and only $4-6 billion in loans, mortgages, and credit card receivables. Remember that deposits are considered a debt obligation of the bank. Raising deposits would only further skew that.
Scotia does consolidate Tangerine's balance sheet and the income/expenditures into Scotia's balance sheet, so it's likely Scotia uses Tangerine's deposit base to fund its lending activities at the parent company level.
Cheers,
Doug
3:57 pm
July 21, 2019
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Doug said
I appreciate your zeal and entrepreneurial spirit in searching out information on Tangerine, Kidd, but I would just add that Tangerine's debt/equity ratio could be severely skewed to the fact that they've got something like $30-40 billion in deposits and only $4-6 billion in loans, mortgages, and credit card receivables. Remember that deposits are considered a debt obligation of the bank. Raising deposits would only further skew that.
Scotia does consolidate Tangerine's balance sheet and the income/expenditures into Scotia's balance sheet, so it's likely Scotia uses Tangerine's deposit base to fund its lending activities at the parent company level.
Cheers,
Doug
Great response 
3:57 pm
October 21, 2013
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MapleOne, you might want to check out Steinbach Credit Union in MB. They offer premium rates for deposits over 250K for everyone, and all deposits are guaranteed by the Deposit Insurance system for CUs in MB.
All deposit rates are subject to change, of course - and they will.
Kidd, maybe the issue is that 3% on 3 million is going to cost them a lot more than 3% on 100.
4:05 pm
July 21, 2019
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Thank you for that...
Is it all manual processing or do they have a decent site setup for setup and account linking. The experience I had with Motive was insanely slow and painful and I prefer to avoid a situation like that again. The best signup process I had was with Motus, they were quick as lightning and everything was automated.
4:40 pm
October 21, 2013
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I can't answer that as I've never dealt with Steinbach personally. A former member of this forum, who was pretty sharp, seemed to like it.
I had a terrible experience opening with Motus! Have never tried Motive.
4:43 pm
July 21, 2019
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Really?
Motus was as smooth as silk with me, literally to a couple minutes to set up and was all automated. They ride on the same system as Meridian so they have the interface down pat.
When did you have your poor experience with them?
I also wrote a review on Motive (Not Motus) and that should be live in the review section now.
4:43 pm
February 27, 2018
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Okay... if the ideal Loan to Deposit Ratio is 80% to 90%. Would this not be an indicator telling us if a financial institution needs cash?
https://www.investopedia.com/terms/l/loan-to-deposit-ratio.asp
If so, then what is Scotia Banks LDR?
MapleOne look at what you've started
4:45 pm
July 21, 2019
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Very strange, I cannot find my review on Motive, I wonder if it was deleted by a mod.
4:47 pm
July 21, 2019
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Kidd said
MapleOne look at what you've started
HeHe... well there is nothing exciting to say about Simplii at the moment so we have to talk about other stuff. 
6:58 pm
October 17, 2018
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It's good to see that Simplii treats clients with larger sums of money just as poorly as others like myself. You don't need the headaches , don't give them a second thought
7:11 pm
May 15, 2007
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MapleOne said
Very strange, I cannot find my review on Motive, I wonder if it was deleted by a mod.
I only see one for motusbank. If you have any problems submitting one for Motive Financial, feel free to send me a PM.
7:15 pm
July 21, 2019
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My apologies, yes I made a motus review and a motive topic.
I mixed them up, thank you so much for clarifying that for me.
12:45 pm
July 21, 2019
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MapleOne said
Thank you for the welcomeI will come back here to let you know what happened with tangerine.
If not the Motive rate of 2.8 is very attractive.
As promised here is what happened....
Got a call by the fastest speaker I have ever heard.
He said he cannot give me the deal because I was an old ING client but he will offer me this....
2.5% for one year (365 days) for up to two million.
I must maintain a minimum of 500k or the rate drops to 2.25% and I have to increase it back up to 500k within two months or the entire deal goes away.
So basically 2.5% up to 2 million
In short its pretty much the same as a GIC when you look at it except it's not locked in and you don't get as good of an interest rate.
12:53 pm
December 12, 2009
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MapleOne said
As promised here is what happened....
Got a call by the fastest speaker I have ever heard.
He said he cannot give me the deal because I was an old ING client but he will offer me this....
2.5% for one year (365 days) for up to two million.
I must maintain a minimum of 500k or the rate drops to 2.25% and I have to increase it back up to 500k within two months or the entire deal goes away.
So basically 2.5% up to 2 million
In short its pretty much the same as a GIC when you look at it except it's not locked in and you don't get as good of an interest rate.
Wow, that's impressive that they offered to retain you with that rate. Sure, it's not as much as Motive and, yes, it's not locked-in in that it could go down, but it's also not locked in. It really depends on whether you may need to withdraw the funds before maturity or not. Also, if you do decide to move your funds, you can do so and you keep the interest + bonus interest already paid to you. With it being with CIBC through their Simplii Financial branch transit and division, you can comfortably go over your CDIC limits without any worry. They're a Aa+ or Aa- rated credit, if not higher, as compared to Meridian Credit Union/Motus Bank, which is likely rated BBB+ or BBB- (right around investment grade and the top end of non-investment grade, or junk). Motive Financial, as a branch/division of Canadian Western Bank, would be in between Meridian and CIBC in terms of credit ratings.
Cheers,
Doug
1:02 pm
February 27, 2018
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I would say... NO DEAL and move my funds.
I worry about Manitoba but that's my alternative choice. Loonie was just offered 2.75% on a minimum balance of $250,000 with tangerine and as i replied to that post, i would have taken that offer and tried to tweak it a little.
1) on all money not just NEW money.
2) ask for a term longer than 180 days.
And if need be, i may have offered to bump up the $250,000 minimum deposit to get those additional terms.
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