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
May 21, 2004
1624 posts
618 upvotes
GTA
ChiliPalmer wrote:
Feb 21st, 2018 1:26 pm
Actually, Tangerine doesn't pay interest on your interest earned in a promo campaign.

Under the terms of their offer (bullet point #15):
"Any interest paid into an Applicable Account, including Additional Interest, will not be treated as a new deposit for subsequently calculating Additional Interest payments."

I do personally prefer receiving interest monthly though as I like to keep round number balances (so I pull the interest earned out).
I haven't received the new Simplii offer yet unfortunately. :(
Shows you how much I read the fine print :) I thought because they paid out it would be counted - those sneaky buggers.
Deal Addict
May 21, 2004
1624 posts
618 upvotes
GTA
bylo wrote:
Feb 21st, 2018 1:27 pm
As has been demonstrated repeatedly on this and similar threads, the amount of additional interest on interest is too trivial to bother with(*)

Of greater concern to me is that Simplii doesn't indicate what rate you're actually getting, i.e. confirms that you're on a promo rate, until the end of the promo period when you get (or not) the bonus interest. Even better would be if they showed accrued interest throughout the promo period even if they didn't pay it out until the end.

(*) To demonstrate how trivial, consider that 1% on $100k is $83/month. Now 1% on that $83 is 7¢ in the first month, 14¢ in the second and 21¢ in the third, i.e. 42¢ in total.
Obviously it depends on the principle amount and as ChilliPalmer pointed out, the fine print specifically says no interest is paid on the interest. After all, if it really didn't matter banks would pay the interest, but, they work with very large numbers.

I tried logging on looking for that offer but also didn't receive it. I'm prepared to move my funds out so not a big deal since Tangerine is giving the same rate.
Deal Guru
Jan 7, 2002
14090 posts
6518 upvotes
Waterloo, ON
Britex wrote:
Feb 21st, 2018 2:11 pm
Obviously it depends on the principle amount
Actually it depends on the principal amount ;)

But in any case, my point isn't whether interest is paid on interest or not. My point is that the distinction is essentially irrelevant for comparing Simplii to TING. As per my sample calculation, even at the CDIC insured maximum of $100k, the difference is well under $1/month. Meanwhile 1% interest on the principal amount is $83/month. (Or as one might expect about a 100:1 ratio.)
veni, vidi, Visa [!Brim]
Sr. Member
May 3, 2008
635 posts
237 upvotes
Markham
no promotions received so far, wonder if should call them or wait a bit ? Anyone who rec promotion pls let us know to see how "widespread" it is.
[OP]
Deal Addict
Aug 5, 2006
3179 posts
1002 upvotes
Global Village
It looks like Simplii is inviting some folks to keep their $ for rates between 1.75% - 2.5% until the end of June. If PCF practices are any indication Simplii should be rolling out the invitation carpets to a lot more folks gradually over the next week through emails and offers when you log in. I checked mine and nothing so far. Even if they offer me 2.5% I'll still move my $ to Tangerine and their 2.5% offer till end of May since they pay their bonus interest monthly (where it can compound) as opposed to at the end of the promo term.

http://forums.redflagdeals.com/simplii- ... v-2172911/
All day I dream about sports
Sr. Member
Apr 23, 2008
758 posts
74 upvotes
I will initiate a pull at Tang site to take money directly out from Simplii saving to Tang saving, the fund will be shown in Tang saving immediately (but not available), is it double interest on the weekend by any chance?
Deal Addict
User avatar
Feb 1, 2006
2083 posts
458 upvotes
phht wrote:
Feb 22nd, 2018 9:21 pm
I will initiate a pull at Tang site to take money directly out from Simplii saving to Tang saving, the fund will be shown in Tang saving immediately (but not available), is it double interest on the weekend by any chance?
probably
HSBC World Elite Mastercard
3% travel/1.5% everything else, Mastercard acceptance
31 day medical insurance, trip cxl, trip interrupt
Discuss here
Sr. Member
User avatar
Aug 24, 2003
857 posts
107 upvotes
gvrd
When should we pull our money out of simplii (in hopes of new promo)?

also should I transfer my simplii money from savings to chequing, then transfer to tangerine (from simplii)

or should I log on to my tangerine account and request funds from there?
Newbie
May 1, 2016
80 posts
35 upvotes
Hi folks,

Need you help please!!

Briefly:
I have EQ savings a/c (no chequing). No cheque book.
I have Tangerine chequing and savings a/c.

Now, from EQ I have received new 1.75% interest offer until June 2018. However, I have 2.25% interest offer from Tangerine until April 2018. Therefore, I want to transfer funds back to Tangerine,

Questions:
1: How do I transfer funds back to Tangerine?
2: What are my options to transfer back to Tangerine?

Thanks!
Deal Addict
Sep 1, 2007
1149 posts
575 upvotes
Surrey
Adamshannon wrote:
Feb 25th, 2018 12:37 pm
Hi folks,

Need you help please!!

Briefly:
I have EQ savings a/c (no chequing). No cheque book.
I have Tangerine chequing and savings a/c.

Now, from EQ I have received new 1.75% interest offer until June 2018. However, I have 2.25% interest offer from Tangerine until April 2018. Therefore, I want to transfer funds back to Tangerine,

Questions:
1: How do I transfer funds back to Tangerine?
2: What are my options to transfer back to Tangerine?

Thanks!
Here’s a step by step guide on how to connect Tangerine to EQ Bank.

Step 1

Scroll over the Pay & Transfer tab and then click on linked bank accounts



Step 2

On your screen of linked bank accounts, click the “Link another bank account” button



Step 3

Before you can link another bank, EQ Bank will send your passcode to your phone which must be verified within 10 minutes to proceed.



Step 4

This is where you enter all of your Tangerine information. Tangerine’s Transit number is 00152 and the Institution number is 614. To get your Tangerine account number, log in to Tangerine. Keep in mind that each account you’ve set up within Tangerine has it’s own account number so make sure you’re linking the right one.



Step 5

Confirm the details of the account you’re trying to link.



Step 6

Wait 2-3 business days for EQ Bank to deposit two small amounts into your linked Tangerine account. Log into your Tangerine account and write down those deposits.



Step 7

Now it’s time to head back to your EQ Bank account to finish linking your Tangerine account. Head back over to the linked bank accounts and you’ll see a verify icon beside your new account. Hover over it and click it.



Step 8

Enter the deposited amounts from your Tangerine account and click submit



Step 9

You’ll get a message confirming that your account has been linked. That’s it! You can now transfer money directly between EQ Bank and Tangerine.
Koodo $40/8gb $35/5gb wireless plans//
Newbie
May 1, 2016
80 posts
35 upvotes
Hi,

Thanks for prompt response!! I completely messed up my question. Rather than EQ, it should have been Simplii....So my sincere sorry for that....

I am re-writing the corrected question, as below:

Briefly:
I have Simplii savings a/c (no chequing). No cheque book.
I have Tangerine chequing and savings a/c.

Now, from Simplii I have received new 1.75% interest offer until June 2018. However, I have 2.25% interest offer from Tangerine until April 2018. Therefore, I want to transfer my funds back from Simplii to Tangerine,

Questions:
1: How do I transfer funds back to Tangerine?
2: What are my options to transfer back to Tangerine?

In addition, my Simplii account has already been linked with Tangerine FROM Tangenire side.

Once again, apologies for prior post...

Please respond!
ffonly wrote:
Feb 25th, 2018 12:46 pm
Here’s a step by step guide on how to connect Tangerine to EQ Bank.

Step 1

Scroll over the Pay & Transfer tab and then click on linked bank accounts



Step 2

On your screen of linked bank accounts, click the “Link another bank account” button



Step 3

Before you can link another bank, EQ Bank will send your passcode to your phone which must be verified within 10 minutes to proceed.



Step 4

This is where you enter all of your Tangerine information. Tangerine’s Transit number is 00152 and the Institution number is 614. To get your Tangerine account number, log in to Tangerine. Keep in mind that each account you’ve set up within Tangerine has it’s own account number so make sure you’re linking the right one.



Step 5

Confirm the details of the account you’re trying to link.



Step 6

Wait 2-3 business days for EQ Bank to deposit two small amounts into your linked Tangerine account. Log into your Tangerine account and write down those deposits.



Step 7

Now it’s time to head back to your EQ Bank account to finish linking your Tangerine account. Head back over to the linked bank accounts and you’ll see a verify icon beside your new account. Hover over it and click it.



Step 8

Enter the deposited amounts from your Tangerine account and click submit



Step 9

You’ll get a message confirming that your account has been linked. That’s it! You can now transfer money directly between EQ Bank and Tangerine.
Deal Addict
Sep 1, 2007
1149 posts
575 upvotes
Surrey
Adamshannon wrote:
Feb 25th, 2018 12:59 pm
Hi,

Thanks for prompt response!! I completely messed up my question. Rather than EQ, it should have been Simplii....So my sincere sorry for that....

I am re-writing the corrected question, as below:

Briefly:
I have Simplii savings a/c (no chequing). No cheque book.
I have Tangerine chequing and savings a/c.

Now, from Simplii I have received new 1.75% interest offer until June 2018. However, I have 2.25% interest offer from Tangerine until April 2018. Therefore, I want to transfer my funds back from Simplii to Tangerine,

Questions:
1: How do I transfer funds back to Tangerine?
2: What are my options to transfer back to Tangerine?

In addition, my Simplii account has already been linked with Tangerine FROM Tangenire side.

Once again, apologies for prior post...

Please respond!
If your accounts are linked already you should be able to pull the money from tangerine"s end. Log into tangerine, go to transfer funds and you should see your accounts that u can send and receive from
Koodo $40/8gb $35/5gb wireless plans//
Member
Oct 8, 2006
398 posts
134 upvotes
Okanagan Valley
Don't waste your time phoning Simpli to see if they will do promo or match Tang...after 10 minutes on hold waiting for CSR, their system dumped my telephone call.....on Monday, all my money goes to Tang..Grinning Face With Smiling EyesAngry Face
Jr. Member
Nov 27, 2016
115 posts
79 upvotes
m8x 1a3
Does anyone know if Simpli will be offering another high rate savings plan when this one ends at the end of February ? Will they renew the same rate for the next four months ?

Under this program, the rate is only good for a specific period of time and if you sign up during the period, you only get the rate for the balance of time remaining in the period. Plus you lose your "new account" status.
Sr. Member
Dec 25, 2013
796 posts
532 upvotes
Toronto
I hate rate rate chasing, it's too bad I can't just get 2.3% on all my savings on a tfsa somewhere ( I would likely stay put for that) , I see Alterna savings offers 2.1% ( but I've never used them or heard anything) anyone know of anything better?

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