Personal Finance

Locked: Simplii Financial took my money

  • Last Updated:
  • Nov 9th, 2018 1:17 am
[OP]
Newbie
Oct 4, 2010
55 posts
1 upvote
Toronto

Simplii Financial took my money

I opened a bank account with PC Financials back in 2014 (while shopping at Loblaws). I later received cheques from them but never once used the account or the cheques. I just called today and wish to close my account since I never used it, PC financial redirected me to Simplii. Simplii told me the account went dormant and they charge a dormant fee over time and bank went to $0 so they closed it. They said they would notify through mail, but I never once received anything from Simplii, no new bank card, no letter letting me know they will closed my account.
It is very little money, but for me it's a matter of principal how they could do this without letting customer know? My account with PC was a no fee bank account, how could they just charge me with a fee now? If anything they should owe me interest on money I left with them and never touch.
I would like to file an official complain to the industry regulator so that they will stop these things? Who can I send my complain to?
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20 replies
Sr. Member
User avatar
Apr 5, 2016
548 posts
957 upvotes
BC
PS. All banks do this. Plus under the terms and agreements, you should be checking your bank account at least once a month.
Last edited by MrDisco on Nov 8th, 2018 9:18 pm, edited 2 times in total.
Reason: thread has been moved
Sr. Member
Nov 28, 2011
651 posts
280 upvotes
Toronto
*

On topic though, that sucks OP. Inactivity fees are unfortunately a fact of some banks. Perhaps attempt to escalate with management? They may show some merci, but rules are rules and they may say it's gone for good :(
Last edited by MrDisco on Nov 8th, 2018 9:18 pm, edited 2 times in total.
Reason: thread has been moved
Jr. Member
Feb 13, 2016
165 posts
83 upvotes
It was so small that you didn't bother to spend or think about and you are now upset because of the principle? Honestly your wasting your time, my time and everyone's time that is bothering to read or respond to this. Down vote away everyone!
Member
Oct 17, 2012
360 posts
198 upvotes
Vancouver
Who opens an account and doesn't check it for years and then complains about basic fees?
Deal Addict
Jan 5, 2003
3956 posts
252 upvotes
Toronto
*

As other said, it's annoying but all banks do this. You have to keep track on your accounts, unfortunately....
Last edited by MrDisco on Nov 8th, 2018 9:18 pm, edited 1 time in total.
Reason: thread has been moved
Deal Fanatic
User avatar
Feb 5, 2006
6043 posts
679 upvotes
Toronto
Actually this is odd because with PC, and now Simpli, there are no fees that I'm aware of. No monthly account charges, free bill payments, free chequing, etc.

I'm curious how any PC account could go down to zero. The only thing I pay is $1 per month for them to send me a paper statement because I can't be bothered printing them out myself.
Jr. Member
Dec 27, 2015
168 posts
211 upvotes
Nepean, ON
OP, try taking some responsibility for your own actions and not wasting others' time with your whining... Part of growing up.

How does the saying go? Fool & his money are soon parted!
Deal Addict
User avatar
Mar 1, 2006
1336 posts
472 upvotes
Edmonton
I remember when I had no grasp on money or contracts
Member
Apr 14, 2017
253 posts
216 upvotes
onthemove wrote:
Nov 8th, 2018 8:36 pm
It was so small that you didn't bother to spend or think about and you are now upset because of the principle?
No, the OP is upset because of the principal.
Last edited by pny128 on Nov 8th, 2018 9:01 pm, edited 1 time in total.
Deal Addict
Jul 30, 2003
1641 posts
85 upvotes
Toronto
Back in the PCF days , there was an inactivity fee if the account was not used for a year. It was around $20 if I remember correctly.
Jr. Member
Jan 1, 2018
180 posts
130 upvotes
sunnysidesolutions wrote:
Nov 8th, 2018 8:39 pm
Who opens an account and doesn't check it for years and then complains about basic fees?
someone who doesn't need money clearly lol
Ahh the feeling I get when I've saved some money...more money for the more important things!
Deal Addict
User avatar
Aug 21, 2009
1451 posts
458 upvotes
North Vancouver
*. OP, go here for help: https://www.obsi.ca/en/index.aspx
Last edited by MrDisco on Nov 8th, 2018 9:19 pm, edited 1 time in total.
Reason: thread has been moved
Public Mobile and Fido customer 😂😲😃
Sr. Member
Jan 25, 2015
915 posts
103 upvotes
Peterborough
I've been using them for like 8 years love them no fees
Sr. Member
User avatar
Nov 19, 2008
624 posts
42 upvotes
Markham
Summer2003 wrote:
Nov 8th, 2018 8:24 pm
I opened a bank account with PC Financials back in 2014 (while shopping at Loblaws). I later received cheques from them but never once used the account or the cheques. I just called today and wish to close my account since I never used it, PC financial redirected me to Simplii. Simplii told me the account went dormant and they charge a dormant fee over time and bank went to $0 so they closed it. They said they would notify through mail, but I never once received anything from Simplii, no new bank card, no letter letting me know they will closed my account.
It is very little money, but for me it's a matter of principal how they could do this without letting customer know? My account with PC was a no fee bank account, how could they just charge me with a fee now? If anything they should owe me interest on money I left with them and never touch.
I would like to file an official complain to the industry regulator so that they will stop these things? Who can I send my complain to?
haha this happened to me as well with PC.
I opened an account and deposited $20. few years later went to close it and i had $0 lol.
Thanks RFD I'm poor because of all the deals :cry:

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