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Simplii

Simplii High Interest Savings Account 3.15% till June 2019

  • Last Updated:
  • Nov 1st, 2019 4:25 pm
Newbie
May 13, 2008
16 posts
5 upvotes
Vancouver
Do not go with Simplii. Last time, I enrolled their promotion after receiving the email. Guess what, after the promotion was ended, I never receive the promised promotion interest. (I transferred about 5K from other banks to meet Simplii's new fund requirement)
Why cannot Simplii be the same as Tangerine which will give you bonus interest every month until the end of the promotion date? This way, you will know at most in one month, whether you receive the bonus.

So from now on, I will never trust Simplii again. Yes, I can call them to argue, but to waste 1 hr for about $25 ? Come on, I'd rather spend the 1 hr watching netflix. :-)
Banned
Nov 1, 2018
43 posts
19 upvotes
Wpegger wrote: I called today and to my surprise, I wasn't enrolled in (after I did self-enrol on the web). So the CSR did it to me.
Now I lost 3 days worth of interest on my 0.001 million I transferred from tangerine.
So I suggest everyone to call and ensure that you are actually enrolled in the promo.
What a joke their promo is?

Imagine if you had waited until March to find out!
Banned
Nov 1, 2018
43 posts
19 upvotes
micronta wrote: So I called in and was told I was enrolled already, and the rep was suppose to email me to confirm. It's been a few business days already and haven't received any email. Guess I will call in again!
Let us know if and when you get the email.
Banned
User avatar
Jul 17, 2008
11042 posts
3878 upvotes
jeff_yao wrote: Do not go with Simplii. Last time, I enrolled their promotion after receiving the email. Guess what, after the promotion was ended, I never receive the promised promotion interest. (I transferred about 5K from other banks to meet Simplii's new fund requirement)
Why cannot Simplii be the same as Tangerine which will give you bonus interest every month until the end of the promotion date? This way, you will know at most in one month, whether you receive the bonus.

So from now on, I will never trust Simplii again. Yes, I can call them to argue, but to waste 1 hr for about $25 ? Come on, I'd rather spend the 1 hr watching netflix. :-)
Looks like I wasn't the only one who never received any promo. And the whole having to wait over 4 months until the end just to find out you got burned. At least with Tangerine you can confirm you are enrolled after the 1st month comes around
Deal Addict
Apr 13, 2017
2945 posts
1426 upvotes
GTA
So, I did a pull from tangerine. I see that funds are in simplii account (still on hold), but money hasn't debited from my tangerine account. I hope its cleared soon.

Funds on hold - do they still earn interest ?
Deal Fanatic
Dec 16, 2005
6905 posts
5592 upvotes
headleygrange wrote: So, I did a pull from tangerine. I see that funds are in simplii account (still on hold), but money hasn't debited from my tangerine account. I hope its cleared soon.

Funds on hold - do they still earn interest ?
Yes. You will earn interest at both for a couple days.
Jr. Member
Jun 24, 2015
137 posts
108 upvotes
North York, ON
Agree with the other posters who said to call in and double check that you are indeed enrolled. I called last Thursday to enroll, was told it was done and I'd be getting the terms and conditions via email in one business day. As of this morning I didn't receive the email and when I logged into my account and checked Legal under the Account Summary page I saw the following:

The Simplii FinancialTM promotional interest offer (the "Offer") is available to new and existing Eligible Savings Accounts and Eligible Registered Savings Accounts (as defined below) between November 1, 2017 – February 28, 2018 (the "Offer Period"). The special annual interest rate of 3.0% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Savings Account and Eligible Registered Savings Accounts balance ("Regular Interest"), plus promotional interest ("Promotional Interest") that is calculated for the Offer Period on the Additional Balance as defined below.

I was expecting to see 3.15% instead of 3% so I called to check and was told my enrollment was not complete. Today's rep says I've now been enrolled and any contributions will be back dated to Nov 1, I'll check again later to see if the Legal section has been updated.
Deal Expert
User avatar
Aug 18, 2005
21223 posts
5939 upvotes
Burlington-Hamilton
micronta wrote: So I called in and was told I was enrolled already, and the rep was suppose to email me to confirm. It's been a few business days already and haven't received any email. Guess I will call in again!
Same for me. I called yesterday, and they promised an email.
I did not see an email confirmation!
Thinking Face
- casual gastronomist -
Member
Nov 10, 2013
492 posts
503 upvotes
Richmond Hill, ON
I was just on the phone, they said to expect couple days delay in getting the email.
CIBC, eh...
Deal Addict
Jun 27, 2012
1071 posts
2378 upvotes
savemoresaveoften wrote: The fact that its open to both new and existing customers anyway, why the hell do that need one to call in to enroll ? Does not make any sense and just show how dumb their senior executives are. If anything everyone's talking about making it easy for the consumer, a pleasant experience. They are doing the exact opposite, just to draw attention ???
I didn't have to call anyone. When I logged in last week, it asked me right away if I wanted to enrol
2010-2023 Contest Winnings = $0
Deal Expert
Jan 7, 2002
29710 posts
29127 upvotes
Waterloo, ON
So I tried to register by email in order to get the confirmation by return email. I sent the request along with my customer number and last few digits of my account number to the email address on their Contact page. I also asked why they were wasting everyone's time by making us call in to register for the promo, seeing as how it was being offered to everyone anyway.

Here's their idiotic response:
Thanks for taking the time to connect with me.

In response to your email, Simplii Financial is committed to protecting the privacy and security of your personal account information and your financial transactions. Since Internet e-mail is not a secure medium of communication, we are unable to respond to e-mail inquiries involving personal or banking information.

Having said that, you can enroll in the promotional offer through online banking, by selecting the "accept button" for e-mail offers or by calling 1-888-236-5999.

As well, I do not have the logistics as to why you would have to enroll manually, but this would be the procedure if you are already an existing account holder.

I appreciate your business.

Kind regards,

***
Internet Communications Specialist
I'm not sure how they're they're protecting the privacy and security of my personal account information and my financial transactions when it's me who emailed them the info. Moreover what's the harm in registering me in the promo even if I'm not really who I claim to be? Why would anyone object if a hacker did them a favour by registering them to get 3.15% instead of 1.5% (or whatever the base rate is)?
veni, vidi, Visa
Deal Addict
Mar 8, 2013
2950 posts
1611 upvotes
Phoenix82 wrote: Agree with the other posters who said to call in and double check that you are indeed enrolled. I called last Thursday to enroll, was told it was done and I'd be getting the terms and conditions via email in one business day. As of this morning I didn't receive the email and when I logged into my account and checked Legal under the Account Summary page I saw the following:

The Simplii FinancialTM promotional interest offer (the "Offer") is available to new and existing Eligible Savings Accounts and Eligible Registered Savings Accounts (as defined below) between November 1, 2017 – February 28, 2018 (the "Offer Period"). The special annual interest rate of 3.0% is a combination of the regular annual interest rate set by Simplii Financial payable on an Eligible Savings Account and Eligible Registered Savings Accounts balance ("Regular Interest"), plus promotional interest ("Promotional Interest") that is calculated for the Offer Period on the Additional Balance as defined below.

I was expecting to see 3.15% instead of 3% so I called to check and was told my enrollment was not complete. Today's rep says I've now been enrolled and any contributions will be back dated to Nov 1, I'll check again later to see if the Legal section has been updated.
3% / 2017 clearly is left over from the previous promotion. Has anyone reported that this was changed to 3.15% / 2018 in the 'Legal' section? My spouse and I both phoned in to confirm. One of us already had a HISA and the other opened one from the 'Grow your savings with 3.15%...' link. Today if I click on that link, I get:

Borrowing
Secured Line of Credit
A simple way to borrow

??? I got the 3% last time, but Simplii has done nothing to make this more transparent. I already have regrets.
Deal Expert
User avatar
Dec 12, 2009
29536 posts
20456 upvotes
bylo wrote: So I tried to register by email in order to get the confirmation by return email. I sent the request along with my customer number and last few digits of my account number to the email address on their Contact page. I also asked why they were wasting everyone's time by making us call in to register for the promo, seeing as how it was being offered to everyone anyway.

Here's their idiotic response:


I'm not sure how they're they're protecting the privacy and security of my personal account information and my financial transactions when it's me who emailed them the info. Moreover what's the harm in registering me in the promo even if I'm not really who I claim to be? Why would anyone object if a hacker did them a favour by registering them to get 3.15% instead of 1.5% (or whatever the base rate is)?
That's a canned response. You've asked a question for which there's no good answer.
Public Mobile customer, $34/50GB CAN-US, $29/30GB, $24/4GB
Tangerine, EQ, Simplii, HSBC customer
Deal Expert
Jan 7, 2002
29710 posts
29127 upvotes
Waterloo, ON
will888 wrote: That's a canned response. You've asked a question for which there's no good answer.
Yes, I realize it's a canned response sent by a chimp who's trained to send canned responses rather than to think. I'd hoped said chimp might pass on my query about forcing everyone to call in to register for a promo that's open to, um, everyone. It's a waste of time for everyone--including the cage of chimps being fed bananas by CIBC's deep bench of mismanagers.
veni, vidi, Visa
Deal Addict
User avatar
May 2, 2010
3949 posts
3570 upvotes
Markham
My customer experience with Simplii has been torturous.
You do not know what you have invested in, what interest rate ....
Everything is a leap in the dark and wait for 10 days to confirm.
They did not accept my VOID cheques generated by Tangerine and EQ Bank webpages to link them to my Simplii account. Have to pull and push money at Tangerine or EQ Bank instead.
Needed to call in several times to open my account and my calls were not answered multiple occasions.

I now do not touch them with a 10 feet pole.

I get 3.15% for 6 months by opening a HISA with Meridian Credit Union instead.
Member
Nov 2, 2012
214 posts
57 upvotes
Toronto
I waited 16+ mintues, only to have them disconnect the call. Called a second time, and on hold for more than 16+ minutes again. Asked the reps to verify that I enrolled. Still waiting for the confirmation email. Looks its an excuse for them to deny The accumulated interest.

I remember when they did to me when they were PC financial.
Deal Addict
Jul 11, 2008
1954 posts
1477 upvotes
savemoresaveoften wrote: Has anyone that signed up actually received a confirmation email back that confirmed you are enrolled ? I signed up since Thurs and rec nothing.
Just not sure if I can trust them since no means of confirmation at all...
Doesnt look like anyone here has reported getting the confirmation email that they were enrolled in the offer after phoning in (and without getting a prior email advertising the offer). I'm in the same boat - called 1-800 number, rep said i was eligible and enrolled me in the offer (this was last thursday), said i would get an email in 2 business days, no email confirmation emailed yet...
Sr. Member
Jul 6, 2009
620 posts
91 upvotes
Markham
I have both the RBC and Simplii promo, but both do not have like 'full' confirmation. Or a page online where you can just see your current interest rate lol.
Newbie
Dec 8, 2012
53 posts
44 upvotes
Canada
Hey everyone, just curious how long the bonus interest is in effect for. Is it for a full year or until March of 2019? I do read it won't be paid out until March of 2019.
Deal Addict
Oct 13, 2006
3024 posts
1537 upvotes
Burnaby
Mobiledeals wrote: Hey everyone, just curious how long the bonus interest is in effect for. Is it for a full year or until March of 2019? I do read it won't be paid out until March of 2019.
Bonus interest on new deposits until Feb 28, 2019. Paid sometime in March 2019. I like getting paid right away at the end of every month/beginning of every month, but it could be used as a tax deferral tool should one decide that it is advantageous to them to do so.

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