Personal Finance

Locked: In 2018 are you going with Tangerine or Simplii?

  • Last Updated:
  • Mar 31st, 2019 11:12 pm

Poll: What's your pick?

  • Total votes: 295. You have voted on this poll.
Tangerine
 
146
49%
Simplii
 
84
28%
Both used equally
 
65
22%
Deal Fanatic
User avatar
Jul 13, 2014
6054 posts
4059 upvotes
Parry Sound
nmclean wrote: A phishing scam doesn't touch their system at all, so no. It's important to differentiate, because that implies there are holes in CIBC and BMO's systems, which would be far more serious. If it was just phishing then the banks aren't at fault and it's easily avoidable.
2 step verification/authentication, for example, could prevent something like this.

Their system is vulnerable to phishing attacks.

This is something IT security will have to deal with because this is a flaw in their system. A more secure system would have measures put in place to prevent such basic phishing attacks.

Just because it's not some computer science nerd writing a script to infiltrate their system doesn't mean it's not a hack.

Not everything is like you see it in the movies.
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Deal Addict
Jan 10, 2017
1536 posts
981 upvotes
GTA
MayorOfToronto wrote: 2 step verification/authentication, for example, could prevent something like this.

Their system is vulnerable to phishing attacks.

This is something IT security will have to deal with because this is a flaw in their system. A more secure system would have measures put in place to prevent such basic phishing attacks.

Just because it's not some computer science nerd writing a script to infiltrate their system doesn't mean it's not a hack.

Not everything is like you see it in the movies.
https://www.welivesecurity.com/2018/05/ ... d-hotline/

Not everything can stop scammers working past 2FA. If a scammer gets your 2FA code that you personally enter, that is beyond what the system can vet.

If you hand your keys to a thief, BMW is not responsible for the car being properly opened and turned on with your given key.
Deal Addict
Nov 25, 2014
1739 posts
960 upvotes
Newton Brook, ON
MayorOfToronto wrote: 2 step verification/authentication, for example, could prevent something like this.

Their system is vulnerable to phishing attacks.

This is something IT security will have to deal with because this is a flaw in their system. A more secure system would have measures put in place to prevent such basic phishing attacks.

Just because it's not some computer science nerd writing a script to infiltrate their system doesn't mean it's not a hack.

Not everything is like you see it in the movies.
I don't know what I said to give you the impression I thought hacking was like "in the movies". I'm an IT professional and so is MadCanadian above. In one sense hacking does have a broad meaning that includes social engineering as well as non-security related things, but when you say "Simplii was hacked" it strongly implies a direct breach. We would never classify phishing as "hacking the security of the system". Big difference there, and it's misleading to describe it that way.
You need someone with an umbrella not a fork
Member
Jul 25, 2008
400 posts
274 upvotes
ottawa
MadCanadian wrote: https://www.welivesecurity.com/2018/05/ ... d-hotline/

Not everything can stop scammers working past 2FA. If a scammer gets your 2FA code that you personally enter, that is beyond what the system can vet.

If you hand your keys to a thief, BMW is not responsible for the car being properly opened and turned on with your given key.
If the thief is hanging out inside a BMW service department and posing as a mechanic, then yes, they are.
Deal Addict
Jan 10, 2017
1536 posts
981 upvotes
GTA
danishh wrote: If the thief is hanging out inside a BMW service department and posing as a mechanic, then yes, they are.
Then you can tell the cops and they would go after the thief, but they would not put the blame on BMW service department for a breach in security.
If a thief pose as a policeman, does the rcmp launch an internal investigation to a breach of ranks?
Sr. Member
User avatar
Jan 12, 2017
815 posts
959 upvotes
YK
OP, will use both. Will also use any other insured Canadian bank/credit union who offer decent interest rates and terms. We're not loyal to just these two.Smiling Face With Open Mouth
Deal Addict
Nov 25, 2014
1739 posts
960 upvotes
Newton Brook, ON
danishh wrote: If the thief is hanging out inside a BMW service department and posing as a mechanic, then yes, they are.
Probably not, but anyway, you're talking about liability now, not fault.
You need someone with an umbrella not a fork
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Jul 25, 2008
2043 posts
696 upvotes
Ottawa
There is another thread in Finance forum.

..phising wonzt get the answers to login questions as reported in News brief tonite.

For BMO, 40000 Canadians clicked the phising email? How many did not?
Deal Addict
User avatar
Jan 22, 2008
4175 posts
1483 upvotes
Calgary
Can't believe Tangerine is not offering free interac transfers. Main reason why I have to use Simplii over them
Deal Addict
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Dec 4, 2007
4869 posts
2743 upvotes
Quebec
I dont know for u guys, but the main purpose to use "virtual" online banking system such tangerine, is to avoid to deal with bank. So, no waiting, no call, keep it as much simple, do our own thing. I think if your banking needs require more than just the basic, having your income money deposit, pay bill and save money in a saving account, then you might be better serve with an actual "real" bank.

I am a client of tangerine since their debut as ING, really liked the fact i dont have to deal with any human, because i am really carefulll when i do my stuff on my own, that way, if there is an error, i will be the only one to blame.

Life and rules today tend to be really complexes and have way too much of them, so human with stress and others factor, make them made error.

I answered tangerine, because like many before me already said, in Québec, we dont have any other choice than tangerine, i know i can go in ontario to open an account at PCF, but... I never go to ontario.
Sr. Member
User avatar
Dec 27, 2011
865 posts
1690 upvotes
MaxPower19 wrote: I closed out of Tangerine completely. The interest rate games are ridiculous and the appeal of a "2% on some things and 0.5% on others" credit card really isn't worth it when you can get no fee cards that give 1.5% cash back on everything. I totally get it for big spenders but people spending 1-2k per month putting all the effort in to figuring out merchant categories just seems like a huge waste of time to me.
Which cards?
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Aug 9, 2013
3352 posts
874 upvotes
Toronto
crystallight wrote: Which cards?
Since it was posted on March 3rd, I would think he might be talking about Fido and Rogers card where you can get 1.5% and 1.75% cashback respectively but it was downgraded already to 1.25%.
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Dec 27, 2011
865 posts
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Troydabes wrote: Since it was posted on March 3rd, I would think he might be talking about Fido and Rogers card where you can get 1.5% and 1.75% cashback respectively but it was downgraded already to 1.25%.
Thanks, even 1.25% is good for a no fee card though. But I just went on their website and it seems you can only apply the cashback to Rogers/Fido bills basically? In other words if you're with a different phone company then these credit cards or worthless, right?

I'm currently researching on credit cards so that's why I'm asking.
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Aug 9, 2013
3352 posts
874 upvotes
Toronto
crystallight wrote: Thanks, even 1.25% is good for a no fee card though. But I just went on their website and it seems you can only apply the cashback to Rogers/Fido bills basically? In other words if you're with a different phone company then these credit cards or worthless, right?

I'm currently researching on credit cards so that's why I'm asking.
No. You have an option for a statement credit by the end of the year. There's also amex simplycash which give 1.25% cashback and much better insurance than the two mentioned above.

PLUS, if you spend more than $25,000 on Fido or Rogers card you have an option to upgrade to Rogers World Elite which has 1.75% and 4% cashback on foreign purchases. The Fido/Rogers only has 3%
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Dec 27, 2011
865 posts
1690 upvotes
Troydabes wrote: No. You have an option for a statement credit by the end of the year. There's also amex simplycash which give 1.25% cashback and much better insurance than the two mentioned above.

PLUS, if you spend more than $25,000 on Fido or Rogers card you have an option to upgrade to Rogers World Elite which has 1.75% and 4% cashback on foreign purchases. The Fido/Rogers only has 3%
Source for the statement balance? I can't find that anywhere in their website.
The amex one is nice but I believe they don't get accepted at a lot of places.
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Aug 9, 2013
3352 posts
874 upvotes
Toronto
crystallight wrote: Source for the statement balance? I can't find that anywhere in their website.
The amex one is nice but I believe they don't get accepted at a lot of places.
It's on the cards Terms and Conditions.
Fido: https://www.rogersbank.com/legaldocs/en ... 018.en.pdf
Rogers: https://www.rogersbank.com/legaldocs/en ... 018.en.pdf
You may also redeem your Rewards in the form of an annual statement credit to your Account by calling Rogers Bank at 1 855 775-2265. You must request an annual statement credit for each year that you wish to receive it by December 1st of that year. Annual statement credits will be awarded in January of the following year and the amount credited will be the total dollar value of the balance of your Platinum Rewards Account as of the date the credit is issued to your Account.
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May 8, 2009
15560 posts
14184 upvotes
Going to the Moon
crystallight wrote: Thanks, even 1.25% is good for a no fee card though. But I just went on their website and it seems you can only apply the cashback to Rogers/Fido bills basically? In other words if you're with a different phone company then these credit cards or worthless, right?

I'm currently researching on credit cards so that's why I'm asking.
Sadly, most Canadian CC's that offer cashback do it as annual statement credits. Your options:
  • MBNA RWE 2% everything, $89 AF, redeem any time minimum $50
  • AmEx SCP 2% everything, $99 AF, statement credit in September (no minimum income requirement, other incentives because it's AmEx). Same card but no-AF is 1.25% CB
  • Rogers MC WE, no-AF, 1.75% on CAD spend, annual statement credit if not redeemed against Rogers service

With minimal US credit history (6+ months), there are a handful of 1.5% everything / no-AF & no-FTF CB cards that should be relatively easy to get, no ITIN or SSN required Smiling Face With Sunglasses
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Deal Fanatic
Jun 3, 2009
5735 posts
1585 upvotes
Montreal
Simplii and EQ aren't available to QC residents for now so I have stayed at Tangerine.
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Jul 22, 2006
22438 posts
3065 upvotes
Simplii

It's easier to find a CIBC than a Scotia Bank
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Jul 21, 2013
979 posts
661 upvotes
Calgary
Kick and question for Simplii and Tangerine users.

If I go in the red, do they both have a grace period or do you get dinged right away? And if you transfer money from savings to chequings is it instant or do you need to wait a day?

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