Expired Offers

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

  • Last Updated:
  • Mar 1st, 2018 1:13 pm
Deal Addict
Apr 9, 2010
1518 posts
1224 upvotes
Toronto
psommerfeld wrote:
Jan 4th, 2018 11:41 am
Not exactly accurate.
Transferring from a chequing to savings acct can be immediate. Transferring from a savings to chequing account must be scheduled at least one day in advance (not the same as saying it changes the day you schedule it for).

I also noticed that for a pull on the Simplii side to take money from another bank, my money disappeared on the date selected (I initiated a pull on Monday to take place on Tuesday), but it did not appear or post until a second day later (Wednesday). I thought it was a bug as well since I didn't see the money on Tuesday and it wasn't in pending. I called Simplii on Tuesday to ask about it and they couldn't see the transaction at all, which is pretty worrisome considering it was a large amount. I waited and my money showed up finally.

The transaction had taken place and they couldn't verify it was even happening! That's the scary part, I don't care about waiting an extra day, but at least give me a record of it. What if it didn't happen? Do I wait a week to confirm money didn't get moved and try transferring again? I don't have time to play unnecessary waiting games.

I guess lesson learned is that it might actually take 2 days for your money to post, the day you selected (the disappearing day) + 1 day for it to show up. This is different than Tangerine were the money moves and posts on the date selected. I would suggest not scheduling a pull on Fridays and do it earlier. You can lose interest for 3 days that way (Fri - the day it disappears, Sat and Sun).
Newbie
Dec 3, 2010
6 posts
6 upvotes
psommerfeld wrote:
Jan 4th, 2018 11:41 am
Not exactly accurate.
Transferring from a chequing to savings acct can be immediate. Transferring from a savings to chequing account must be scheduled at least one day in advance (not the same as saying it changes the day you schedule it for).

Savings to Savings are NOT immediate. Takes one business day.I don't have a chequing account with them, but two savings accounts with different joint holders. Either way, internal transfers should not be limited on their system when funds are available.
Newbie
Dec 3, 2010
6 posts
6 upvotes
karnige wrote:
Jan 4th, 2018 12:21 am
well your first mistake was doing it again. you should have called before monkeying around. 2ndly it has always been like that transferring cash. since the pcfinancial days. me thinks you should do your homework before bashing because you expect things your way. not sure how it's a scam. I'd call it waiting an extra business day....
I never had a PC account before. I only dealt with Tangerine in the past and other major institutions. ALL institutions I dealt with give a clear confirmation after you program it, so that you have the option to cancel at anytime before the cut off period. If you change your mind about your transaction(maybe you did any error with the amount or date), you should have the ability to change it with the call center. Even THEY couldn't see the pending transaction. So even IF I called the call center immediately they would not even be able to help me see the amount I did or stop the transaction. It should be the same for all institutions where if you INSTRUCT the bank to take the money out on this day, it should happen ON that day, and not the day before. When you go to transfers, it should have clearly told me that transactions posted for a certain day CANNOT be cancelled the day before. This should be in bold letters BEFORE I confirm the transaction and not in small print when you go to the Upcoming transactions. By that time it's too late. And excuse me for just sharing my experience when I had dealt with multiple banks before and all of them did not have a crappy system like Simplii. Me thinks you should not be so rude to new clients who are new to the Simplii system.
Sr. Member
Feb 6, 2007
543 posts
116 upvotes
Opened an account, but don't think I'm going to use it after hearing everyone's experiences. Also, the system locks you out after 2 failed attempts at answering your security question. Then in order to unlock your account, you have to call in to reset your account, which involves choosing a new password and security questions. Simplii requires so much work...far from simple.
Jr. Member
Jul 6, 2008
182 posts
35 upvotes
My 0.02 cents.. Simplii has not been simple!!! Will close my account after the promo period.

EQ took me minutes to set up, and Simplii was weeks.
Newbie
Dec 3, 2010
6 posts
6 upvotes
psommerfeld wrote:
Jan 4th, 2018 11:41 am
Not exactly accurate.
Transferring from a chequing to savings acct can be immediate. Transferring from a savings to chequing account must be scheduled at least one day in advance (not the same as saying it changes the day you schedule it for).
You mentioned transferring from a savings to chequing account takes one business day (Simplii Savings to a Simplii Chequing account, all funds available). I'm hoping this is not the same case when you go to the ATM to transfer from savings to chequing. What happens if you need to withdraw money at the ATM that's more than what you have in your chequing account?
Deal Addict
Sep 19, 2009
1151 posts
251 upvotes
Toronto
kkmochi wrote:
Jan 4th, 2018 8:45 pm
You mentioned transferring from a savings to chequing account takes one business day (Simplii Savings to a Simplii Chequing account, all funds available). I'm hoping this is not the same case when you go to the ATM to transfer from savings to chequing. What happens if you need to withdraw money at the ATM that's more than what you have in your chequing account?
You can use the overdraft or try a different bank.
Deal Addict
User avatar
Feb 23, 2005
1347 posts
1079 upvotes
Toronto
kkmochi wrote:
Jan 4th, 2018 8:45 pm
You mentioned transferring from a savings to chequing account takes one business day (Simplii Savings to a Simplii Chequing account, all funds available). I'm hoping this is not the same case when you go to the ATM to transfer from savings to chequing. What happens if you need to withdraw money at the ATM that's more than what you have in your chequing account?
you can't. its been like that since the day PC Financial started. making it harder to withdraw is not a bad thing, yes, inconvenient, but when its harder to withdraw its actually might help with "savings"
Deal Addict
Apr 9, 2010
1518 posts
1224 upvotes
Toronto
sonyminidiscman wrote:
Jan 4th, 2018 9:01 pm
you can't. its been like that since the day PC Financial started. making it harder to withdraw is not a bad thing, yes, inconvenient, but when its harder to withdraw its actually might help with "savings"
lol I like your spin on things. I find myself doing exactly as you say, I plan to use the account to "save" money since I find it such a hassle to move money out. I figure it'll help me stop impulse buying, haha.

It'll take a bit more planning though to move money out if there are any lottery promotions down the line. It might not be something that'll be that often anymore though, considering Tangerine's newest change in promotion tactics.
Member
Mar 14, 2009
232 posts
165 upvotes
Toronto
patrob wrote:
Dec 22nd, 2017 2:13 am
Just too bad Tangerine has a limit of 3 linked accounts, unlike with EQ I don't think there is such a limit.

So I called Simplii two days ago and complained about the difficulty linking the new accounts etc. and was told they are now able to receive the void cheques through their secured email. I was pleasantly surprised and was told they just added this feature. I bet many people must have complained that's why lol So I generated the "void cheques" from EQ and Tangerine and sent them the screenshots and I filled out the direct deposit consent form online (signature is your password). So far EQ was linked tonight and still waiting for Tangerine to be added. So looks like there is hope after all ☺️Thumbs Up Sign
Managed to linked external account on Simplii with EQ (using void cheque generated from EQ and sent by secure mail). Performed a "pull" from EQ and 2 days later the transaction is reversed. Called Simplii and the CSR said Simplii cannot "perform any transaction with saving a/c". I told her what's the point of allowing us to linked to EQ S/A but cannot perform any transactions. I guess this is the limitation of their system (or rather defect on their side)
Newbie
Dec 3, 2010
6 posts
6 upvotes
sonyminidiscman wrote:
Jan 4th, 2018 9:01 pm
you can't. its been like that since the day PC Financial started. making it harder to withdraw is not a bad thing, yes, inconvenient, but when its harder to withdraw its actually might help with "savings"
Wow that's terrible. Which is why most of us would probably leave a smaller amount in our chequing account in order to maximize the interest in the savings and transfer the funds when needed. I'm surprised this horrible banking practice is still around since the day PC started. I'm sure many people complained about it before and no one cares to fix it. Pretty much PC/ Simplii wants to grab your money immediately one day your deposit, but wants to delay giving you the money when you withdraw. Both scenarios they keep the assets 1 extra day longer and are able to lend it out to people at a higher interest rate for their mortgages/ loans/ Line of credits. Talk about bad banking practices and manipulation.
Newbie
Dec 3, 2010
6 posts
6 upvotes
boon1 wrote:
Jan 5th, 2018 3:56 pm
Managed to linked external account on Simplii with EQ (using void cheque generated from EQ and sent by secure mail). Performed a "pull" from EQ and 2 days later the transaction is reversed. Called Simplii and the CSR said Simplii cannot "perform any transaction with saving a/c". I told her what's the point of allowing us to linked to EQ S/A but cannot perform any transactions. I guess this is the limitation of their system (or rather defect on their side)
Thanks for sharing. Wow their system is so limited. Guess the only way is to just transfer using your other bank's system for both pull and push. Don't even touch/ bother with Simplii transfer system.
Member
Mar 14, 2009
232 posts
165 upvotes
Toronto
kkmochi wrote:
Jan 5th, 2018 4:20 pm
Thanks for sharing. Wow their system is so limited. Guess the only way is to just transfer using your other bank's system for both pull and push. Don't even touch/ bother with Simplii transfer system.
Linking to other Chequing a/cs are ok from Simplii. You are right that just transfer using the other bank's system for both pull and push. But still there are max # of accounts you can setup from EQ (I think 10 max) and TING (3 max)
Deal Addict
User avatar
Feb 1, 2006
2079 posts
457 upvotes
boon1 wrote:
Jan 5th, 2018 3:56 pm
Managed to linked external account on Simplii with EQ (using void cheque generated from EQ and sent by secure mail). Performed a "pull" from EQ and 2 days later the transaction is reversed. Called Simplii and the CSR said Simplii cannot "perform any transaction with saving a/c". I told her what's the point of allowing us to linked to EQ S/A but cannot perform any transactions. I guess this is the limitation of their system (or rather defect on their side)
Something similar happened to me. Had a heck of a time getting my EQ acct linked with Simplii. Finally got it linked and pushed test funds out from Simplii svgs to EQ on Jan.4. On Jan. 5 I see the funds deposited to EQ and then "Auto-withdrawal by reversal" reversed on the same day.

On the other hand, I have successfully pulled funds into Simplii.

So is the conclusion that you cannot "push" but can "pull" using Simplii savings account? Simplii chequing account should allow both "pushing and pulling" right?
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Deal Addict
May 21, 2004
1622 posts
618 upvotes
GTA
I had the same experience pushing from Simplii to EQ where the transaction gets reversed. However, pushing from Simplii to Tangerine works. I've talked to EQ and they are saying it's an invalid name being pushed from Simplii. Right now it would appear some kind of configuration is incorrect on Simplii's side but will call on Monday and see if Simplii can dig further and hopefully get this resolved.

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