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[Simplii Financial] 3% promo on new deposits for 4 months from Simplii (No QC)

  • Last Updated:
  • Dec 7th, 2017 12:30 pm
[OP]
Deal Addict
Aug 5, 2006
2187 posts
610 upvotes
Global Village

3% promo on new deposits for 4 months from Simplii (No QC)

Deal Link:
Expiry:
February 28, 2018
Retailer:
Simplii Financial
Simplii Financial (formerly President's choice Financial) is offering 3% promo interest on new deposits to savings accounts for 4 months starting Nov 1st, confirmed this by phone, credit goes to below link for posting this online days before PCF would confirm it:

http://www.canadianrewards.net/2017/10/ ... ncial.html

https://www.simplii.com/en/special-offe ... erest.html

Promo interest will be paid in March (on March 15th is my guess) and not every month so that PCF tradition continues unfortunately. For those linking external bank accounts like Tangerine or EQ to Simplii use Bank # 010 and transit # 30800 (Simplii is fully owned and operated by CIBC now). If you already had your PCF account linked then you don't need to create a new external link, account info remains the same.

$ you already have in PCF/Simplii chequing accounts as of closing Oct 31st will not qualify for the promo if transferred to Simplii savings accounts.

Simplii services are unavailable in Quebec.

https://en.wikipedia.org/wiki/Simplii_Financial

Full Terms:

*The Simplii FinancialTM promotional interest offer (the “Offer”) is available to new and existing Eligible Savings Accounts and Eligible Registered Savings Accounts (as defined below) between November 1, 2017 – February 28, 2018 (the “Offer Period”). The special annual interest rate of 3.0% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Savings Account and Eligible Registered Savings Accounts balance (“Regular Interest”), plus promotional interest (“Promotional Interest”) that is calculated for the Offer Period on the Additional Balance as defined below.

A. Savings Offer

“Eligible Savings Account” means a Simplii Financial High Interest Savings Account and/or Simplii Financial Savings Account. Only primary account holders are eligible for the Offer.

The Promotional Interest is calculated on the portion of the Eligible Savings Account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2017 (the “Additional Balance”) to a maximum of $500,000 in Additional Balances across all of an account holder’s Eligible Savings Accounts. If an Eligible Savings Account is overdrawn as at October 31, 2017, the closing balance is deemed to be $0.00. Promotional Interest will not be paid on existing funds that were in a Simplii as at October 31, 2017 and are transferred to an Eligible Savings Account.
Promotional Interest will be paid in March 2018 into a single Eligible Savings Account held by a primary account holder. Promotional Interest will not be paid unless at least one of the primary account holder’s Eligible Savings Account is active and in good standing as at February 28, 2018. If a primary account holder holds more than one Eligible Savings Account, Promotional Interest will be paid to an Eligible Savings Account in the following priority sequence.
to the primary account holder’s High Interest Savings Account, if it is active and in good standing; otherwise
to the primary account holder’s Savings Account, if it is active and in good standing.
In the event the primary account holder has more than one of the same account type, Promotional Interest will be paid to the oldest account that is active and in good standing.

B. Registered Savings Offer

“Eligible Registered Savings Account” means a Simplii Financial Daily Interest RRSP Account, RRSP Savings Account and/or Tax -Free Savings Account.

The Promotional Interest is calculated on the portion of the Eligible Registered Savings Account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2017 (the “Additional Balance”) to a maximum of $500,000 in Additional Balances across all of an account holder’s Eligible Registered Savings Accounts. If an Eligible Registered Savings Account is overdrawn as at October 31, 2017, the closing balance is deemed to be $0.00. You can contribute up to your contribution room. A tax applies to all contributions exceeding your contribution room. Your TFSA contribution room or RRSP deduction limit information can be found by visiting the Canada Revenue Agency (CRA) web page at: www.cra-arc.gc.ca
All Promotional Interest will be paid in March 2018 into a single Eligible Registered Savings Account held by a primary account holder. If an account holder has multiple Eligible Registered Savings Accounts, the Promotional Interest for each Eligible Registered Savings Account will be paid separately into that Eligible Registered Savings Account. Promotional Interest will not be paid into any Eligible Registered Savings Account that is not active and in good standing as at February 28, 2018.
PLEASE NOTE: Eligible Savings Accounts and Eligible Registered Savings Accounts will continue to earn Regular Interest on balances, calculated daily and paid monthly. Regular Interest rates are subject to change at any time; visit http://www.simplii.com/rates for current regular rates. Promotional Interest recipient is solely responsible for any tax consequences associated with the Promotional Interest. Additional terms, conditions and limitations apply to opening and making deposits in an Eligible Savings Account or Eligible Registered Savings Account. Individuals must meet the criteria Simplii Financial to open or hold an Eligible Savings Account or Eligible Registered Savings Account in order to qualify for the Offer. Promotional Interest recipient is solely responsible for any tax consequences associated with the Promotional Interest. The Promotional Interest cannot be substituted or transferred to a third party. Details are available upon request. The Offer is non-transferable and cannot be combined with other promotional rate offers. The provider of Simplii Financial personal banking services (a division of CIBC), reserves the right to cancel or change the terms of the Offer at any time, and revoke the Offer for any customer who appears to be manipulating or abusing the Offer, or is engaged in any suspicious/fraudulent activity. The Offer is subject to the terms and conditions of the Simplii Financial Products and Services Agreement.
Last edited by scoper on Nov 1st, 2017 2:50 am, edited 5 times in total.
643 replies
Deal Fanatic
User avatar
Apr 1, 2004
5073 posts
1056 upvotes
Guess I'm SOL... I had my money in there already from the last PCF promo.
Member
Aug 27, 2012
203 posts
114 upvotes
Calgary
Great news! Moving everything over from Tangerine.

This is the link for 3% promo: https://www.simplii.com/en/special-offe ... erest.html
Get 3.0%* interest on new deposits into any savings account, including TFSA or RRSP savings accounts between November 1, 2017 and February 28, 2018. (If you don't have one of these accounts, now might be the perfect time to get one.)

There is no enrolment required, which means you can start depositing today in order to earn money.
Deal Addict
User avatar
Jul 22, 2015
2057 posts
669 upvotes
Saint-Hubert, QC
Can you get this if you live in QC? Also any bonus on sign-up?
Sr. Member
Dec 31, 2013
677 posts
311 upvotes
condo
I was just about to post this too! Good deal, and nice to have free e-interac from Simplii/CIBC vs $1 fee from Scotiabank/Tangerine. Going to move my savings from Tangerine to Simplii (3% vs 2.3%)
Member
Aug 27, 2012
203 posts
114 upvotes
Calgary
Just tried opening this new savings account and ended up getting a message saying that I am not eligible lol. I called Simplii right away and lady on the phone told me that my ID they have on file (I have a super old PC Financial account that I never used and that is now dormant) is no longer acceptable as valid ID and thus needs to be updated but their new system for remote ID uploading is not set up as of yet thus asked me to call latter today or tomorrow. Will give it a go in half a day or so, really determined to have my funds moved over by the end of the day lol.
Member
User avatar
Jun 23, 2017
258 posts
64 upvotes
Toronto, ON
rahzel wrote:
Nov 1st, 2017 5:52 am
Guess I'm SOL... I had my money in there already from the last PCF promo.
i had my money in there with their 2.5% promo also ... but before it expired, I moved it all out to Tangerine to get their 2.75% promo (good to Dec/2017.... now before the Tangerine promo expires, I"m moving it all over to Simplli to get the 3.0% promo ...
I'm hoping that before the Feb/2018 expiration of this Simplii promo, that someone like Tangerine or EQ Bank or WealthONE will ratchet things up with an even higher promo rate. Smiling Face With Open Mouth
Deal Fanatic
Mar 22, 2004
9226 posts
688 upvotes
Mississauga
Well guess I know what I am doing during lunch time today...
Member
Mar 4, 2014
253 posts
62 upvotes
Toronto
Can I move the money out and the back to take advantage?
Deal Addict
Dec 12, 2003
1630 posts
141 upvotes
Looks like I missed this by a couple hours, pulled my money out of pc but the transaction didn’t post till nov 1....

Terms

*The Simplii FinancialTM promotional interest offer (the “Offer”) is available to new and existing Eligible Savings Accounts and Eligible Registered Savings Accounts (as defined below) between November 1, 2017 – February 28, 2018 (the “Offer Period”). The special annual interest rate of 3.0% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Savings Account and Eligible Registered Savings Accounts balance (“Regular Interest”), plus promotional interest (“Promotional Interest”) that is calculated for the Offer Period on the Additional Balance as defined below.

A. Savings Offer

“Eligible Savings Account” means a Simplii Financial High Interest Savings Account and/or Simplii Financial Savings Account. Only primary account holders are eligible for the Offer.

The Promotional Interest is calculated on the portion of the Eligible Savings Account’s average daily closing balance during the Offer Period that exceeds the closing balance as at October 31, 2017 (the “Additional Balance”) to a maximum of $500,000 in Additional Balances across all of an account holder’s Eligible Savings Accounts. If an Eligible Savings Account is overdrawn as at October 31, 2017, the closing balance is deemed to be $0.00. Promotional Interest will not be paid on existing funds that were in a Simplii as at October 31, 2017 and are transferred to an Eligible Savings Account.
Promotional Interest will be paid in March 2018 into a single Eligible Savings Account held by a primary account holder. Promotional Interest will not be paid unless at least one of the primary account holder’s Eligible Savings Account is active and in good standing as at February 28, 2018. If a primary account holder holds more than one Eligible Savings Account, Promotional Interest will be paid to an Eligible Savings Account in the following priority sequence.
to the primary account holder’s High Interest Savings Account, if it is active and in good standing; otherwise
to the primary account holder’s Savings Account, if it is active and in good standing.
In the event the primary account holder has more than one of the same account type, Promotional Interest will be paid to the oldest account that is active and in good standing.
Jr. Member
Oct 8, 2015
174 posts
99 upvotes
Wrote a cheque to myself but it shows dollar value exceeds limit. wtf?

EDIT: changed the amount to 250K and it passed the system, however, the number on my cheque is more than this value, what's gonna happen to my money?
Member
May 6, 2010
377 posts
113 upvotes
Ottawa
Nice. Just logged into Simplii for the first time and saw the 3% thing right away on the login screen. Will be moving my stuff over from Tangerine's 2.75% promo
Also nice to hear about free interac e-transfers
Member
User avatar
Feb 28, 2006
264 posts
106 upvotes
Moncton NB
Does this also apply to new TFSA accounts?
Deal Fanatic
User avatar
Aug 22, 2005
7621 posts
849 upvotes
habs33 wrote:
Nov 1st, 2017 8:13 am
Does this also apply to new TFSA accounts?
Yes

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