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

  • Last Updated:
  • Feb 19th, 2018 1:05 am
Sr. Member
Oct 4, 2008
697 posts
93 upvotes
Is this better than getting 2.3% from Scotia Bank if money is left full year ?
Newbie
Dec 3, 2010
5 posts
1 upvote
Surrey
Will this offer work if I transfer money from a Simplii No Fee Chequing Account to an existing Simplii High Interest Savings Account?
Member
User avatar
Apr 5, 2016
238 posts
209 upvotes
BC
subzero08 wrote:
Jan 29th, 2018 9:39 pm
Will this offer work if I transfer money from a Simplii No Fee Chequing Account to an existing Simplii High Interest Savings Account?
As per the OP

"$ 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."
Zoomer Wireless = 2+ years
Tangerine = 10+ years
Deal Addict
May 21, 2004
1326 posts
402 upvotes
GTA
peli33 wrote:
Jan 11th, 2018 5:08 pm
Terms are pretty clear"



1.50% is hard written and cannot be modified for the duration of promotion.
Exactly as I said... Tangerine will adjust the rate so you end up with 2.5%. You'll notice their base rate is now 1.1% and so they adjusted their Additional Interest rate to 1.4% resulting in the original 2.5%. Perhaps you can call in and make your argument for "hard written and cannot be modified for the duration of promotion" to the benefit of everyone? :)
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Dec 16, 2007
1113 posts
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subzero08 wrote:
Jan 29th, 2018 9:39 pm
Will this offer work if I transfer money from a Simplii No Fee Chequing Account to an existing Simplii High Interest Savings Account?
Move the fund to a different Simplii High Interest Saving account or even a new account! Interac e-transfer is free (daily max 3000, weekly max 10000)! Smiling Face With Open MouthSmiling Face With Open Mouth
Newbie
Dec 3, 2010
5 posts
1 upvote
Surrey
ChiliPalmer wrote:
Jan 29th, 2018 10:00 pm
As per the OP

"$ 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."
So then, suppose I had $10000 in my No Fee Chequing Account prior to October 31st and have deposited another $10000 between October 31 and today. This means that I can transfer up to $10000 from my Chequing Account to my High Interest Savings Account which will receive this 3% interest?
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Dec 16, 2007
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subzero08 wrote:
Jan 30th, 2018 9:10 pm
So then, suppose I had $10000 in my No Fee Chequing Account prior to October 31st and have deposited another $10000 between October 31 and today. This means that I can transfer up to $10000 from my Chequing Account to my High Interest Savings Account which will receive this 3% interest?
Yes, only the amount deposited on/after Nov 1!
[OP]
Deal Addict
Aug 5, 2006
2338 posts
648 upvotes
Global Village
subzero08 wrote:
Jan 30th, 2018 9:10 pm
So then, suppose I had $10000 in my No Fee Chequing Account prior to October 31st and have deposited another $10000 between October 31 and today. This means that I can transfer up to $10000 from my Chequing Account to my High Interest Savings Account which will receive this 3% interest?
To qualify it would need to be new $ to Simplii and above and beyond what was in your chequing and savings accounts at the end of Oct.
Newbie
Feb 21, 2010
4 posts
Ontario
Is there a way to tell (without making a phone call) that I am receiving the 3.0% on my High Interest Savings Account?
[OP]
Deal Addict
Aug 5, 2006
2338 posts
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Global Village
Brick Problems wrote:
Feb 6th, 2018 8:31 am
Is there a way to tell (without making a phone call) that I am receiving the 3.0% on my High Interest Savings Account?
Just check your account history online to see how much $ was in your Simplii accounts on Oct 31st. If you have more $ now in your Simplii savings account than what was in your Simplii chequing and savings accounts on Oct 31st then that new $ is getting the 3% promo. The offer isn't targeted so you didn't have to accept it, there is also no confirmation visible anywhere on your personal Simplii account site when you log in, you'll just see the bonus interest ~ March 15th.
Newbie
Feb 21, 2010
4 posts
Ontario
scoper wrote:
Feb 9th, 2018 11:56 am
Just check your account history online to see how much $ was in your Simplii accounts on Oct 31st. If you have more $ now in your Simplii savings account than what was in your Simplii chequing and savings accounts on Oct 31st then that new $ is getting the 3% promo. The offer isn't targeted so you didn't have to accept it, there is also no confirmation visible anywhere on your personal Simplii account site when you log in, you'll just see the bonus interest ~ March 15th.
Thank you,
Well I understand that but my wife ALSO holds a High Interest Savings Account but in the #1 post of this forum a line states
"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."
Although her account has her name on it, I think it might fall under the Primary account holder - it would make it so much easier if PC Simplii displayed the bonus interest like Tangerine does it - that is why I asked the question if there was another way instead of calling.
Newbie
Feb 21, 2010
4 posts
Ontario
RE: PC transfer out limits
As the end of the Bonus Interest ends Feb 28th, does anyone know if there is a dollar limit set to transfer out of Simplii to another Financial Institution? (I am aware of the $50,000. maximum limit to transfer from one Simplii account to another Simplii account.)
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Jan 7, 2002
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Brick Problems wrote:
Feb 6th, 2018 8:31 am
Is there a way to tell (without making a phone call) that I am receiving the 3.0% on my High Interest Savings Account?
Why don't you want to make a phone call?

(I agree that the rate you're earning, including promo bonus, should be shown on Simplii's website. But unfortunately it's not. That's why I made a screen print of my account balance as of the start of the promo.)
Although her account has her name on it, I think it might fall under the Primary account holder
If the two accounts are individual (not joint) then each account holder is the primary. If they're joint accounts, e.g. (1) A & B JTWROS and (2) B & A JTWROS then that may be a problem. You'll have to call them to confirm if it is.
As the end of the Bonus Interest ends Feb 28th, does anyone know if there is a dollar limit set to transfer out of Simplii to another Financial Institution? (I am aware of the $50,000. maximum limit to transfer from one Simplii account to another Simplii account.)
Yes, there's a limit. (It may vary by account holder.) The last time I wanted to do a full transfer out the limit was $100k. However if you call them they'll do the entire transfer for you in $100k tranches, all on the same day.
veni, vidi, Visa
Newbie
Feb 21, 2010
4 posts
Ontario
Why don't you want to make a phone call?
1. if I recall calling Simplii it has been at least 15-30 or more minute hold time.
2. my wife has her own Simplii card # so not sure if they will give me any info.
3. I can make transfers out of her account so I think they are probably joint.

If the two accounts are individual (not joint) then each account holder is the primary. If they're joint accounts, e.g. (1) A & B JTWROS and (2) B & A JTWROS then that may be a problem. You'll have to call them to confirm if it is.
When she opens her account it shows "Get 3% on new savings account deposits until Feb 2018*" I am sure she clicked on that link & is getting the 3%, (just not positive)
however when either of us log on all 4 accounts are showing (chequing & saving for both of us) which makes me think they are all joint.
Looks like a phone call will have to be made to verify the 3%..

Yes, there's a limit. (It may vary by account holder.) The last time I wanted to do a full transfer out the limit was $100k. However if you call them they'll do the entire transfer for you in $100k tranches, all on the same day.
I forgot to mention, I was going to use Tangerine system to pull the money from Simplii and just wondered if Simplii had a daily account withdrawal limit even though the individual amounts were $100K each.
Actually I just made future transfers using Tangerine to move money so they should work unless Simplii has set limits.

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