Expired Hot Deals

[Simplii] Simplii High Interest Savings Account 3.15% till June 2019

  • Last Updated:
  • Nov 1st, 2019 4:25 pm
Deal Addict
User avatar
Dec 6, 2005
1587 posts
391 upvotes
St. John's
Everyone loves to criticize Tangerine, but I've found Simplii much, much worse thus far. Tangerine pays out interest and bonuses promptly and Simplii makes us wait and hope for the best.

I also did all the 'activities' for the new account bonus and have not seen a bonus yet on that either. Not impressed.
Sr. Member
User avatar
Nov 23, 2004
835 posts
308 upvotes
Edmonton
Chew300ZX wrote:
Mar 14th, 2019 10:48 am
Everyone loves to criticize Tangerine, but I've found Simplii much, much worse thus far. Tangerine pays out interest and bonuses promptly and Simplii makes us wait and hope for the best.

I also did all the 'activities' for the new account bonus and have not seen a bonus yet on that either. Not impressed.
The one thing I really appreciate from tangerine is that your account shows the promotional interest rate.. with simplii you have to hope or call, or call and hope that the promotional interest rate is applied to your account, and thus for months on out.
Previous wins:
2007
-Fujifilm Finepix Z10FD 7.2mp (Green) 210$
-2x Xbox 360 (Oct 29 & Nov 1) 300$
-2x EA SPORTS
Deal Addict
Feb 3, 2008
1609 posts
217 upvotes
Winnipeg
With this promo I don't believe the interest is compounded monthly is it?
If not and waiting weeks for the interest payment doesn't this make the effective rate less?
Deal Expert
Jan 7, 2002
17528 posts
9864 upvotes
Waterloo, ON
Simpli wrote:
Mar 14th, 2019 10:25 am
At this point, I am beyond frustrated with Simplii. It is concerning that a large Canadian bank has problems calculating interest and paying it in a timely manner.
Not if that bank is CIBC. They have a long, dismal record of incompetence at all levels from the CEO down.
veni, vidi, Visa
Newbie
Jan 30, 2017
32 posts
5 upvotes
Chew300ZX wrote:
Mar 14th, 2019 10:48 am
Everyone loves to criticize Tangerine, but I've found Simplii much, much worse thus far. Tangerine pays out interest and bonuses promptly and Simplii makes us wait and hope for the best.

I also did all the 'activities' for the new account bonus and have not seen a bonus yet on that either. Not impressed.
I opened my account in Sep and received the bonus in Feb.. Just give you some hope. :)
Deal Fanatic
Jul 4, 2004
8259 posts
1201 upvotes
This is why after Simplii's very first promo I shutdown all my accounts with them afterwards. The signup process was much harder than applying for a passport. Should've known that a bank that spells Simply as Simplii will have big problems.

Although RBC didn't list their bonus rates either on their high interest promo, they did pay bonus out monthly so you knew you were getting them.

I suspect the bonus interest will be paid starting on the 15th like they did on the very first 3% promo when they first started.
Help an animal charity or sanctuary out today. Become a volunteer, advocate, foster a pet, or donate. They need you as much as you need them!
Deal Addict
May 3, 2008
1054 posts
534 upvotes
Markham
There is absolutely no reason why they need to delay 2 weeks to pay out the bonus interest, other than trying to make people forget to transfer their balance out, etc.

Its like company offering 0% financing for furniture purchase for 6 months, and hope you dont have the means to pay it back at the end of 6 months and ends up paying 20% a year interest. Legal but totally unethical in my mind.
Sr. Member
User avatar
Jul 25, 2018
747 posts
1193 upvotes
Milton, ON
angel_wing0 wrote:
Mar 14th, 2019 2:14 pm
Hoping you are correct, well we still have a day before the end of this week so hoping for tmr...
Expect delays for anything coming from Simplii. Whether you're waiting on a card, promotional interest, or a response to a question, they take FOREVER. Took them over two months to ship me a card and in the end just told them to close the account because I was tired of waiting. And of course I got the card two days after I called in. They say 15 business days at the latest but don't count on it.
Deal Addict
Mar 8, 2013
2478 posts
1191 upvotes
bylo wrote:
Mar 14th, 2019 1:12 pm
Not if that bank is CIBC. They have a long, dismal record of incompetence at all levels from the CEO down.
I'm not an English major, but I was struck that a CEO of one of Canada's largest banks could not properly put together a sentence. From the link,
"I don't even think that we bent"

He had me at "I don't even think". Perhaps he meant to say:
"I don't think that we even bent", or better still
"I think that we didn't even bend"

But to start a sentence with "I don't even think ...", jeez!
Deal Addict
User avatar
Jul 25, 2008
1177 posts
214 upvotes
Ottawa
Simplii banking software is still full of bugs. Not sure where they hired them.

Simplii inadvertently classified non registered GIC as RSP GIC... double check yours. It is big complication with CRA even it is banks fault.
Newbie
User avatar
Sep 11, 2018
11 posts
2 upvotes
I recently opened an Meridian register account, and they paid the bonus immediately! Very impressed! I've been using Simplii as my major bank for many years, now I'm moving everything away once I received my bonus payment, if ever...
Deal Fanatic
User avatar
Jul 17, 2008
9751 posts
2507 upvotes
I'm not holding my breath until end of month. I'll start calling first week of April (but not on the 1st!, I don't have time to play jokes)
Deal Addict
Nov 18, 2015
1377 posts
1044 upvotes
savemoresaveoften wrote:
Mar 14th, 2019 1:50 pm
There is absolutely no reason why they need to delay 2 weeks to pay out the bonus interest, other than trying to make people forget to transfer their balance out, etc.

Its like company offering 0% financing for furniture purchase for 6 months, and hope you dont have the means to pay it back at the end of 6 months and ends up paying 20% a year interest. Legal but totally unethical in my mind.
it's because they want people to keep waiting and forget about it. pay peanuts in interest while borrowing to make billions.
Deal Addict
Sep 3, 2005
1390 posts
145 upvotes
Toronto
Alright.. it’s Friday morning Mar 15 still no bonus shown in my account ... WTF is going on... I am thinking to tsf everything out of Simplii.. got Cdn Tire bank for 3.20% and Tangerine 2.75% as well... just hate to wait FOREVER to get the bonus interests!

Top