3.15% Interest at Simplii for 4 months | Page 5 | Simplii Financial (formerly PC Financial) | Discussion forum

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3.15% Interest at Simplii for 4 months
April 1, 2019
11:55 am
Rob88
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It is now April 2019 and Simplii still hasn't paid my bonus interest. I called today and they said an error was made and the bonus interest would be paid within 3 days. Is anyone else still waiting for Simplii to pay the bonus interest?

April 1, 2019
5:44 pm
67rustang
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April 1, 2019
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April 1st and still no promo interest added to my account. I was told last week that it would be a few days. I feel like I am getting the run around. Maybe they hope that people will forget or be apathetic and let Simplii keep it. I will not let them
dishonour their agreement.
I could have had my money sitting in Tangerine at 2.75% or EQ at 2.3% the whole time. Not pleased with Simplii. I will think twice about signing up with any of their promo's.

April 3, 2019
9:06 am
Bruford
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I am still waiting as well. Despite repeated calls and chats, lots of promises but no actions. I will keep Simplii as a hub, but will never participate in any of their scam promo's again.

April 5, 2019
10:45 am
Rob88
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April 1, 2019
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I called Simplii on April 1 and advised that if I did not get paid by the end of the week I would be taking action. This morning the bonus interest was paid into my account.

I am very disappointed with Simplii/CIBC's apparent inability to competently administer a simple bonus offer. I am thinking about writing a letter to the Superintendent of Financial Institutions. 67rustang, Bruford and any others who haven't been paid, please keep us posted regarding your situation.

April 6, 2019
6:22 pm
67rustang
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I called Simplii on Thursday, April 4th and probably waited for more than 30 minutes before an agent got to me. Also, there is no clear option in their telephone banking menu to get a live operator. I had to select the 'lost my card' option and still waited 30+ minutes. Also, it appears that the chat feature has vanished from my online banking account that I used last week in March to inquire about my bonus interest. The chat agent told me I would get the interest in 3 days. Never happened.

When I finally got a telephone agent he said that I was owed $620 and it would be deposited within 3 business days. So by Tuesday, April 9th at the latest. I also feel that I am being short-changed. I figured I would be getting in the neighbourhood of $1000. I will have to re-check.

I too may complain to the CIBC Ombudsman and the OBSI. This behaviour is unacceptable!

April 9, 2019
8:10 am
JW
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Called today as had not received my Bonus interest. After much investigation by the CSR they apologized and stated $$$ will be deposited within 3 days. They definitely have a problem. Thanks to this Forum I could have missed not getting paid.

April 9, 2019
12:02 pm
Bruford
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I suspect Simplii may have intended not to pay out the promo interest unless you raise a fuss as many here have done.

April 11, 2019
7:10 am
JW
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You may assume that … but it would be very unethical and damaging to CIBC Group as a business unit. I suspect they have a very screwed up process … they need to do their Bonus interest like the others (Monthly). I prefer 'pay as you go' rather then 'wait for months and possibly forget' a bonus is coming.

April 11, 2019
7:29 am
Bill
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September 11, 2013
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I've had zero real issues with Simplii over the many years I've sporadically used them so this is surprising to me. I'm interested to know: Among those here who didn't receive their promo interest by the end of March, are you saying this happened even though they sent you a confirming email that you were on the promo back when it started?

April 11, 2019
9:05 am
Bruford
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For me it was a phone call, so I had no written record. When requested, they knew exactly how much they owed me, but I still had to wait at least a week longer.

April 11, 2019
1:25 pm
frizun
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I thinking there might be people out there who thought they were on the promo..but actually were not.
There is no where on online banking where it says what interest rate you are actually getting...I got a confirm email for the promo,which I saved...without that,I would have not put money in there.

April 11, 2019
2:32 pm
Oscar
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Since Simplii hasn't been able to resolve their issues with sending email confirmations and enabling customers to confirm their promotion status online ( i love their disappearing acceptance link ) , I'm sure that this thread will continue to entertain after the next leg of the promo has endedsf-laugh

April 11, 2019
10:37 pm
Norman1
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April 6, 2013
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About three weeks after enrolling, I did receive an e-mail from Simplii encouraging me to make a deposit to take advantage of the 3.15% rate:

Grow your savings faster.

Hi ░░░░,

You’re on your way to reaching your savings goals! New deposits in your Simplii Financial™ High Interest Savings Account will earn 3.15%* interest until February 28, 2019. Plus, this same great rate is also available on new deposits into an RRSP Savings Account or a Tax‑Free Savings Account.

Take advantage of this special rate while it is still here and reach your savings goals faster.

Make a deposit now

April 12, 2019
7:59 am
GreatWhiteNorth
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March 21, 2017
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Long time client with negligible issues over the years and I have been through many Simplii & PCF promos.

I do have a record of accepting the 3.15% offer and I did get a confirming email.

But Simplii has not paid me any of the bonus interest due, nor have a heard a peep from them. This is shocking to me for a Big 5 bank with, you know ... computers ... and a supposed reputation to uphold.

Not so much that there was a problem (should be extremely rare) but its obvious that numerous clients are affected, starting at least 3 weeks ago, and nothing has been done to notify and rectify the problem. Not to mention a humble apology?

We may well have to bring this to the attention of the Consumer Media watchdogs because they're basically self regulated.

Yes, it should be considered unethical and damaging to CIBC Group. unit.

April 12, 2019
12:52 pm
Bill
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All you have to do is call CBC (and don't refer to Simplii, it's actually CIBC), they love this little guy vs big banks stuff.

August 5, 2019
11:21 pm
Canadianbull
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After reading above comments I am not sure if I should open savings account with simplii. Does anyone know if they are still offering 3.15% rate on new money?

August 6, 2019
5:12 am
Jim Sherat
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I received my promo Interest on July 12th, so 9 days after it ended, without any prodding on my part. This was a targeted promo ie. I got an email to which I had to reply and accept.

I believe there was an extension, based on June 30th account balances, but I can't seem to find the email ? In any case, I did not participate, and just last week, moved funds to Meridian, and their 3% for 5 Months promo, which is open to everyone.

https://www.meridiancu.ca/Personal/Accounts/Savings-Accounts/High-Interest-Savings-Account.aspx

August 6, 2019
11:02 am
Canadianbull
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Jim Sherat said
I received my promo Interest on July 12th, so 9 days after it ended, without any prodding on my part. This was a targeted promo ie. I got an email to which I had to reply and accept.

I believe there was an extension, based on June 30th account balances, but I can't seem to find the email ? In any case, I did not participate, and just last week, moved funds to Meridian, and their 3% for 5 Months promo, which is open to everyone.

https://www.meridiancu.ca/Personal/Accounts/Savings-Accounts/High-Interest-Savings-Account.aspx  

Thanks for the link Jim. I do not meet Meridian requirements.

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