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Simplii Financial

2.75% until June-30-2022 for High Interest Savings A/C (Targeted)

  • Last Updated:
  • Aug 6th, 2022 11:53 am
Deal Addict
Oct 3, 2004
2363 posts
342 upvotes
Calgary
Thanks for sharing.
Just opened the HISA (already got the chequing account) and let's see if I'll get the promotion email :)
Deal Addict
Oct 3, 2004
2363 posts
342 upvotes
Calgary
angel_wing0 wrote: you wont get it for this wave, but hey you may get future ones =)
Great to know!
Member
Dec 13, 2020
437 posts
406 upvotes
I was planning to withdrawl from simplii tfsa since the promo for 2% is over. If I withdrawl and then move into a new high interest savings account it seems like it should be eligible?

I was thinking I'd withdrawl and use on my next tesla in Feb, but been delayed till August at this point, so might as well get some short term interest.
Member
User avatar
Oct 15, 2006
459 posts
405 upvotes
Edmonton
I have a shared account with my husband while he is the 1st holder and it is empty. I had good amount of money in my personal account for the previous offer. My husband got the new offer. If I moved my money to the shared account, would it be considered new money?
Last edited by covergirl on Mar 5th, 2022 11:59 am, edited 1 time in total.
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Sr. Member
Oct 21, 2015
634 posts
837 upvotes
Toronto, ON
Got a popup, followed the steps and in the end, "we have encountered an error". WTF
Deal Addict
Jan 9, 2014
1171 posts
741 upvotes
Toronto
new account 2.2% is only until end of april?
Deal Addict
Feb 10, 2007
1554 posts
834 upvotes
Calgary, AB
texasbruce wrote: Got a popup, followed the steps and in the end, "we have encountered an error". WTF
I had the same, but it says it is processing my new account still. 🤷‍♂️
Newbie
Jan 25, 2022
40 posts
19 upvotes
Why do they do it as a lump sump payment? Doesn’t it shatter their quarterly report for that quarter?
Deal Addict
Jul 24, 2012
1071 posts
226 upvotes
Why does Simplii make it so hard to link an account with EQ. I was told to sent a "VOID" check. They are so old school.
Newbie
Mar 4, 2022
1 posts
That's exactly correct. I just did it today on the phone with them. My husband and I had a joint account. I was told to open my own account and then transfer the money in. It worked. You don't get the interest until July though.
Jr. Member
Nov 24, 2009
127 posts
17 upvotes
Toronto
Anybody get their 2% interest from the last promotion that ended last month?
Deal Fanatic
Feb 4, 2010
7156 posts
7137 upvotes
yelnatsnart wrote: So I just called them and was able to confirm that I was also getting the 2.75% promotional interest. Apparently how it works is you will get your normal 1.00% interest and then at the end of July you will get the reminding 1.75% in a lump sum. Seems weird but I guess they are trying to get you to keep the money in there like locking in your money without locking in your money.
Huh? The promo is until Jun 30th so you don't need to keep your money in there past that date just because they don't pay out until July.
Jr. Member
User avatar
Jan 1, 2015
143 posts
342 upvotes
Old Socks
I see a lot of people griping about compound vs simple interest. For such a short duration and low interest rate to begin with, is there a big difference?

Eg $100K

2.75%/12/100 * 100k = $229.17 per month simple interest.

Potential interest on interest lost is like a few dollars over the promo period. Am I just bad at math? Am I missing something?
Deal Fanatic
User avatar
Feb 5, 2006
7774 posts
1646 upvotes
Toronto
HoleinSocks wrote: I see a lot of people griping about compound vs simple interest. For such a short duration and low interest rate to begin with, is there a big difference?

Eg $100K

2.75%/12/100 * 100k = $229.17 per month simple interest.

Potential interest on interest lost is like a few dollars over the promo period. Am I just bad at math? Am I missing something?
It's the principle that annoys people. I don't like getting nickel-and-dimed by Simplii on the interest calculation.

Also their illogical "targeting" p***es people off.
Deal Addict
User avatar
Nov 14, 2006
2569 posts
1818 upvotes
Waterloo
HoleinSocks wrote: I see a lot of people griping about compound vs simple interest. For such a short duration and low interest rate to begin with, is there a big difference?

Eg $100K

2.75%/12/100 * 100k = $229.17 per month simple interest.

Potential interest on interest lost is like a few dollars over the promo period. Am I just bad at math? Am I missing something?
I think the most annoying part isn’t the extra couple of cents but more so not knowing if you’ll actually get the promotion interest until 4.5 months down the road. I’ve had issues in the past receiving the promotional interest even though I had an email proving I registered. Then they have to create a ticket and issue the interest via back office.
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Newbie
Mar 5, 2022
30 posts
23 upvotes
Thanks OP. I received the offer when I logged into my Simplii account.
Deal Fanatic
User avatar
Jun 3, 2006
9101 posts
4566 upvotes
12 days north of Hop…
Dealfinder111 wrote: Why does Simplii make it so hard to link an account with EQ. I was told to sent a "VOID" check. They are so old school.
Just do it the other way around and do a push instead. Avoids holds too.
Member
User avatar
Oct 15, 2006
459 posts
405 upvotes
Edmonton
covergirl wrote: I have a shared account with my husband while he is the 1st holder and it is empty. I had good amount of money in my personal account for the previous offer. My husband got the new offer. If I moved my money to the shared account, would it be considered new money?

Anyone?
I'm more than just a picture | I'm a daughter and a sister
Sometimes it's hard for me to show | That I'm more than just a rumor
Or a song on your computer | There's more to me than people know

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