Personal Finance

Simplii Financial (PCF) - Interac E-Transfers Now Included, Free and Unlimited

  • Last Updated:
  • Nov 10th, 2017 10:40 am
Jr. Member
Jan 31, 2008
125 posts
Barrie
I wonder when President's Choice Bank will start offering personal banking. I'm fairly certain it's going to happen.
Deal Addict
Nov 24, 2013
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Kingston, ON
Ardenn wrote:
Nov 9th, 2017 1:28 pm
I wonder when President's Choice Bank will start offering personal banking. I'm fairly certain it's going to happen.
I forget which thread I read it in, but supposedly the divorce prohibits Simplii from offering a credit card for a year, and PCF from offering banking for a year.
[OP]
Newbie
Dec 7, 2016
91 posts
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I'm wondering why they'd get back into the banking biz when they just got out of it.
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Mar 23, 2004
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funkynassau123 wrote:
Nov 9th, 2017 4:33 pm
I'm wondering why they'd get back into the banking biz when they just got out of it.
They more or less got kicked out by CIBC, so it's not strange to see them eventually get back into that area.
「もし、奇跡を起こせたら……」
Newbie
Nov 8, 2017
28 posts
11 upvotes
Whoppee. CIBC and BMO have been doing that for 6 months. My CIBC LOC has had free etransfers since I opened it.
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WorldIRC wrote:
Nov 1st, 2017 8:05 am
The Android app, despite being labelled as "Simplii", is still sorting with the "B" apps on my device (from when it was called Banking) rather than sorting with the "S" apps. Definitely throwing off my OCD.
Lolz at Samsung. I found the app in app drawer under S since the update on my Lenovorola.
angel_wing0 wrote:
Nov 1st, 2017 8:57 am
Great news!! Too bad the e-transfers have to be through chequing and cant be done through savings.
Makes sense though. Can't do debit transaction out of savings account. E-transfers look similar to debit transactions, but more more generous limits.
darthcloud wrote:
Nov 1st, 2017 2:58 pm
Still no QC :(
I heard from Simplii CSR that it was in the works for a while, but they dropped it. Now that it's Simplii, I don't see this happening any time soon, since CIBC has little incentive to promote its flanker brand in QC.
User455957 wrote:
Nov 9th, 2017 7:07 pm
Whoppee. CIBC and BMO have been doing that for 6 months. My CIBC LOC has had free etransfers since I opened it.
Nice. I think it's no fee e-transfers from Simplii LoC now. Hurray for convenience!
Motorola phone. Linux on 2xcomputers. Brew beer & wine @home.
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Wireless 1 line w/ Virgin on QC plan, few lines w/ Koodo to get phones, couple FreedomPop SIM's for roaming
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titaniumtux wrote:
Nov 9th, 2017 10:01 pm
Lolz at Samsung. I found the app in app drawer under S since the update on my Lenovorola.
This appears to have self-resolved itself.
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[OP]
Newbie
Dec 7, 2016
91 posts
26 upvotes
From what I read anytime between now and Feb. 2018. I dont have mine yet.
Newbie
Oct 29, 2015
35 posts
12 upvotes
So I applied on the Simplii website earlier this week. I got an email saying they received my application.

Can I log-in now? Or do I have to wait for something in the mail to transfer my funds?

Also, is the 3% interest rate monthly or yearly?
Banned
Nov 9, 2017
25 posts
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DecayHeat wrote:
Nov 10th, 2017 8:33 am
So I applied on the Simplii website earlier this week. I got an email saying they received my application.

Can I log-in now? Or do I have to wait for something in the mail to transfer my funds?

Also, is the 3% interest rate monthly or yearly?

Did you apply for a Checking or Savings or both accounts ?

What was the exact day you applied ? I applied on November 2, nothing yet from them.

3 % is yearly.

You have to wait for a package to come in mail. You have to verify your identity at a Post office or something like that, and send them a VOID check to link or fund your account from external bank accounts. You can also mail them a check to fund your account.
Newbie
Oct 29, 2015
35 posts
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utuber wrote:
Nov 10th, 2017 8:51 am
Did you apply for a Checking or Savings or both accounts ?

What was the exact day you applied ? I applied on November 2, nothing yet from them.

3 % is yearly.

You have to wait for a package to come in mail. You have to verify your identity at a Post office or something like that, and send them a VOID check to link or fund your account from external bank accounts. You can also mail them a check to fund your account.
Thanks for the reply. I applied for the Savings.
Really appreciate it
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Nov 9, 2017
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DecayHeat wrote:
Nov 10th, 2017 8:56 am
Thanks for the reply. I applied for the Savings.
Really appreciate it
Did the email they sent you have a Reference # or a Bar Code or something ? Or maybe a second email is coming ?? Or maybe the package they mail you will have this stuff in it i.e for your ID verification.

I was told sometimes you have to print that email with the reference # and/or bar code and go with a piece of Photo ID to the nearest post office. They scan the bar code or enter the reference number from the email, check your Photo ID and your postal verification is done. I guess the post database is connected to the bank data base or something.

After that when you come home, you will have an email waiting for you, that you have been verified.

They way the 3 % interest works. Its regular 1 % interest + 2 % bonus interest.

So the 1 % annual interest will be paid at the end of the month. But the 2 % bonus interest for the 4 months from November 1 - Feb 28 , will be paid as 1 lump sum amount in March . Generally second week of March.

Simplii and PC Financial really make it complicated !
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DecayHeat wrote:
Nov 10th, 2017 8:33 am
Also, is the 3% interest rate monthly or yearly?
It's yearly of course. We would all be rich if it's 3% monthly, hell even 2% monthly we will all be rich :D
「もし、奇跡を起こせたら……」
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Oct 7, 2007
3030 posts
676 upvotes
Can someone please tell me:
1. How many interac e-transfers are allowed in a single day?
2. What is the maximum $ that can be transferred in a single interac e-transfer from simplii?

Thanks.

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