Personal Finance

Simplii (ex PCF) ... 3% new deposits promo: Nov 1, 2017 - February 28, 2018

  • Last Updated:
  • Jul 13th, 2018 10:51 am
Deal Addict
Oct 8, 2012
1685 posts
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TBD
Is anyone else having all of their e transfers they are receiving to their Simpliii account rejected? I've tried multiple times from multiple accounts and it always says the password is incorrect for the etransfer even though I end up using the same one elsewhere with no issue.
Deal Fanatic
Oct 26, 2008
7022 posts
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Victoria, BC
Simplii appears to be tied to a Mon. thru Fri. business cycle which is odd for an online bank.

So for your non-promo interest I wouldn't be surprised if the last day of the month falls on a Sat. or Sun. then interest is credited on the preceding Frid.
Whether that is interest for the whole month or 29 days I wouldn't like to guess.
I really doubt they have a general rule for paying it on the second to last day of the month.
Sr. Member
Jan 21, 2012
662 posts
363 upvotes
thetipster wrote: Wow, the problems never stop. I finally got external accounts setup for Tangerine and EQBank. Tried pulling a $1 to each to verify things are working correctly. Good thing I did. Got a call today from EQBank, the transfer was rejected because Simplii had the name of the account as "invalid cust" instead of my actual name. The sh**show continues.
Did you follow up with Simplii and what do they said?
I got exactly the same issue, call Simplii and they said they won't be able to do any pull from EQ even the external link is set up OK,
Anyone successfully pull money from EQ within Simplii?
Deal Addict
Sep 19, 2009
2280 posts
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Toronto
thetipster wrote: Wow, the problems never stop. I finally got external accounts setup for Tangerine and EQBank. Tried pulling a $1 to each to verify things are working correctly. Good thing I did. Got a call today from EQBank, the transfer was rejected because Simplii had the name of the account as "invalid cust" instead of my actual name. The sh**show continues.
I am having the same problem. EQ told me that there was a "name mismatch" error. Did you manage to get it working?
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Feb 1, 2006
6494 posts
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Ontario
thetipster wrote: Wow, the problems never stop. I finally got external accounts setup for Tangerine and EQBank. Tried pulling a $1 to each to verify things are working correctly. Good thing I did. Got a call today from EQBank, the transfer was rejected because Simplii had the name of the account as "invalid cust" instead of my actual name. The sh**show continues.
Something fishy is going on with Simplii and linked accounts. It was a huge pain in the ******* to link external accounts with Simplii. I finally managed to link 3 accounts with them and see these in my Simplii online banking. So yesterday I do $1 test transfers in each account which get post-dated to today. Sure enough I don't see any record of these transactions in Simplii. Neither in account history nor upcoming transfers. Simplii WTF?
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Deal Guru
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Apr 17, 2005
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Brampton
How easy is adding a Simplii chequing account if you already have Simplii savings account for a long time? Is it as easy as it was with Tangerine DIY online within few minutes? Probably not as easy lol
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Dec 13, 2010
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minimalist wrote: Something fishy is going on with Simplii and linked accounts. It was a huge pain in the ******* to link external accounts with Simplii. I finally managed to link 3 accounts with them and see these in my Simplii online banking. So yesterday I do $1 test transfers in each account which get post-dated to today. Sure enough I don't see any record of these transactions in Simplii. Neither in account history nor upcoming transfers. Simplii WTF?
Yeah same here.
That caused me to do a second transfer for $1 to EQ. They both bounced.
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Sep 7, 2004
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patrob wrote: How easy is adding a Simplii chequing account if you already have Simplii savings account for a long time? Is it as easy as it was with Tangerine DIY online within few minutes? Probably not as easy lol
I have the same question. The "apply for a new account" button is tempting to push but what I've learned about Simplii is that there is nothing simple about this bank... and so I haven't clicked it yet.
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Apr 17, 2005
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gqbluez wrote: I have the same question. The "apply for a new account" button is tempting to push but what I've learned about Simplii is that there is nothing simple about this bank... and so I haven't clicked it yet.
So true lol I'll look into it, wish me luck I know I'll need it Face With Tears Of Joy
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Sep 7, 2004
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patrob wrote: So true lol I'll look into it, wish me luck I know I'll need it Face With Tears Of Joy
Good luck!!!! lol
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Apr 17, 2005
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gqbluez wrote: Good luck!!!! lol
So I was right, not so simple Face With Tears Of Joy Started doing it online, followed the steps to confirm my info etc. and suddenly when getting closer to the end, I get an error message they can't complete my request to call in lol So had to call in and they did it for me over the phone now but surely not as Simple as the bank name implies Grinning Face
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patrob wrote: So I was right, not so simple Face With Tears Of Joy Started doing it online, followed the steps to confirm my info etc. and suddenly when getting closer to the end, I get an error message they can't complete my request to call in lol So had to call in and they did it for me over the phone now but surely not as Simple as the bank name implies Grinning Face
Why am I so not surprised. :rolleyes:

Thanks for trying though. I suppose I might just give them a call to set that up. They really should consider changing their name to Difficultii.
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Apr 17, 2005
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gqbluez wrote: Why am I so not surprised. :rolleyes:

Thanks for trying though. I suppose I might just give them a call to set that up. They really should consider changing their name to Difficultii.
They should haha Face With Tears Of Joy Looks like calling in is the way to go until they fix their glitches! Good luck Thumbs Up Sign
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Member
Oct 24, 2010
462 posts
473 upvotes
Toronto
I’m having some very negative exp with Simplii and I have yet to fully open my account.
They haven’t responded to my emails(granted it was from dec 20ish), I had to wait 20+ min to talk to someone(had to hang up multiple times) and the CS reps I have spoken to don’t seem to know the process well enough. They keep putting me on hold to ask someone.
I finally got the security email open to validate my ID at Canada post to find out the code had expired. But I just talked to someone today. Why didn’t they tell me or do these guys even know that it expires after so many days? It’s like all the CS reps just started working as their first job on Jan 2.
Is it just me?
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Dec 13, 2010
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markymark01 wrote: I’m having some very negative exp with Simplii and I have yet to fully open my account.
They haven’t responded to my emails(granted it was from dec 20ish), I had to wait 20+ min to talk to someone(had to hang up multiple times) and the CS reps I have spoken to don’t seem to know the process well enough. They keep putting me on hold to ask someone.
I finally got the security email open to validate my ID at Canada post to find out the code had expired. But I just talked to someone today. Why didn’t they tell me or do these guys even know that it expires after so many days? It’s like all the CS reps just started working as their first job on Jan 2.
Is it just me?
Yup, that's the way it is
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Nov 4, 2007
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For me, it went relatively smoothly. I applied online on Dec 17. Received my secure email the same or next day. Replied to secure email with signature, went to the post office to verify my ID the following day. Received my package in the mail as well as a separate mail with my PIN on Dec 27. Logged in without a problem. Called them up to active my account and also asked for a secure email to link my external Chequing account. Replied to the secure email immediately with the scan of a void cheque and appropriate forms. Called back on Dec 29 to get the the account linked and made my first deposit on the website through EFT. Funds showed up a couple days later on Jan 2.

Available funds is only $1000 (a fraction of the total amount transferred). Anyone know how long it takes for the full amount of funds to be available?
Deal Addict
Apr 9, 2010
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kasm wrote: Available funds is only $1000 (a fraction of the total amount transferred). Anyone know how long it takes for the full amount of funds to be available?
Simplii has told me that it's about 5 business days, and my experience is about the same amount of hold days.
Deal Fanatic
Oct 1, 2004
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Initially I used an old PC Financial cheque from my wife's account to my, deposited into a CIBC ATM, the cheque got reversed however, not bounced since no fee was charged, when I called in I was told the bottom of the cheque #'s are incorrect, so its not a valid cheque, then I was told by by the same rep if I transferred money from my wife's Simpli account to my saving account to take advantage of the 3% promo, it would not count as new deposit?

Funny thing when I try to deposit the a PC Financial cheque through TD/CIBC phone app, I always get an error saying the numbers on the bottom of the cheque is unreadable... definitely not a smooth transaction...
Deal Fanatic
Nov 22, 2015
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greg123 wrote: Initially I used an old PC Financial cheque from my wife's account to my, deposited into a CIBC ATM, the cheque got reversed however, not bounced since no fee was charged, when I called in I was told the bottom of the cheque #'s are incorrect, so its not a valid cheque, then I was told by by the same rep if I transferred money from my wife's Simpli account to my saving account to take advantage of the 3% promo, it would not count as new deposit?

Funny thing when I try to deposit the a PC Financial cheque through TD/CIBC phone app, I always get an error saying the numbers on the bottom of the cheque is unreadable... definitely not a smooth transaction...
Are you sure the numbers on the cheque actually match your account? You could have closed and re-opened your account at some point and forgotten about it? Sounds like you have cheques for an account that no longer exists.

The fine print for the 3% promo definitely says that the money cannot be transferred from a Simplii chequing account.
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Oct 1, 2004
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superfresh89 wrote: Are you sure the numbers on the cheque actually match your account? You could have closed and re-opened your account at some point and forgotten about it? Sounds like you have cheques for an account that no longer exists.

The fine print for the 3% promo definitely says that the money cannot be transferred from a Simplii chequing account.
It's the same cheque I been using since I opened the account, I still have post dated cheques being cashed so it definitely works.

Per the promo terms the bonus % is paid on any balance above the esavings account balance as of Oct 2017, nowhere does it mention where the money can't come from?

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