2% from Sept. 1 until Jan. 31, 2013 | Simplii Financial | Discussion forum

I forgot to add that you have to visit a kiosk or call in to subscribe to the promotion.

Dennis said

Jgclghrn said

A 2% rate will be earned until Jan. 31, 2013 on the portion of the eligible account’s average daily closing balance that exceeds the closing balance as at Aug. 31 2012 and will be paid in Feb. 2013. I believe this applies to existing customers and is based on the aggregate balance of all the eligible accounts.

Thanks, I just called and got it. He said it is for all accounts not just saving account.

I spoke to the rep over the phone. Be careful, and read it carefully. After finally figuring it out how this works. You take a snap shot of your accounts (let's say checkings and savings) on august 31st. If you have $500 in your checkings and $2000 in your savings as your Aug 31st balance than how it works is as follows:

Each day they take another "snapshot" and if you're not above the $500+$2000 Aug snap shot you only earn your regular interest amount for that day. If you have $10000 in your savings and $0 in your checkings you'll only get the 2% on $7500 for that day, the other $2500 will be at your savings account regular interest.

And instead of being calculated daily, paid monthly. This is calculated daily, paid in Feb of next year. so if your August snapshot was like $100 than it's an okay deal. If you unluckily had like $10000 in your checkings that day, then this is a cold deal.