Targeted 3.50%-5.25% for new HISA funds (Nov 19, 2024 to Feb 28, 2025) | Page 3 | Simplii Financial | Discussion forum

davidgeorge said
I am wondering what the interest payments look like. Simplii needs to pay the expired promotion interests ending on November 15, plus the new promotion interests in November. Are they going to pay separately for the two different promotions or just one payment?  

It is the first time Simplii started a new offer on 15th of the month, so do not know how they will pay interests. But Simplii's system calculates the interests,

InterestThis said
It's a sleazy practice, as the offer starts Nov 19, but the balance is taken from Nov 15. Why? Because the people working at Simplii decided to get into this game of tricky offers, and some people will get burned for a month until they see they don't get the bonus interest. And Simplii makes more profit for one month. But at least they will know after a month, not like Simplii's offers before, where you might not know you got burned until after the offer was done.
 

Totally agreed.

As I've said before in these forums and elsewhere, Simplii's steady descent into outright sleazy tricks like this, combined with almost-criminally negligent account security practices, plus support/staff quality incomptence, etc etc, have made them my least favourite FI lately (to put it mildly.)

And they seem to get worse (as is the case right here.)

everhopeful said
Simplii and Tangerine seem to be competing for the sleaziest online bank. Should we expect any more from the Big 5 in sheep's clothing? (CIBC owns Simplii and Scotiabank owns Tang)  

I don't disagree. Though I still have some respect left in my system for Tangerine. Apart from a little annoying and childish hoops with their offers, at least Tang is not deliberately deceptive and sleazy, which is what Simplii does with its bag of ploys, in my humble opinion.

George said
Having the same issue as many others: the offer doesn't show up on my account when clicking the link in the email, or when checking "my offers" directly on the site. Called in, where the CSR could see the 5.25% offer on my account and activated for me in a few seconds. The CSR acknowledged the issue they are having, and stated they were working on a fix to resolve the "glitch" by end of today.  

Just a follow up to my last post if anyone is interested. I moved my money to chequing on the morning of November 15th to set up to go to Canadian Tire Bank on the 16th which it did. I just called and asked if it would count as new money if I put it back and she said yes because I took it out before midnight on the 15th so I'm good for the new promo.