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Dealing with Simplii ??
June 6, 2022
9:20 am
Nehpets
Ontario
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What has been your experience dealing with Simplii for ease of EFT in and out, maximums in and out and customer support when you need it?

Is it worth taking advantage of their current new customer offer that pays 3% until Oct 31, given the experience you can share?

Stephen

June 6, 2022
1:51 pm
KamWest
Toronto
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Simplii is identical to CIBC except no fees.
If you need something done outside of the internet they send you to a CIBC.

I have found them excellent and I use them exclusively as an intermediate to move funds. Funny thing is they do not hold my funds anymore. I can transfer 100k in from motive and move it to hubert the same day I see it deposited at CIBC.

Have done numerous similar moves and am happy to say there are no holds on my account anymore.

June 6, 2022
2:22 pm
fabafter50
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I've never had any problems with Simplii.
They never hold my funds which is a bonus.

July 2, 2022
5:00 pm
tonster501
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I haven't had the same experience with Simplii, I find them very hard to deal with!
They make it very difficult to link a Simplii account, to an external account. I do not like the way they pay promotional interest, as they wait until 2 weeks after the promotion is done, to pay it to you. Yes, their hold policy seems to be one of their better features, but all in all, if you can get an equal, or slightly lesser rate somewhere else, I would go somewhere else. I don't think I would ever recommend Simplii to anyone. Also, I am not as impressed with their website, as I am with most of my other financial institutions.

July 2, 2022
8:45 pm
co
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tonster501 said
I haven't had the same experience with Simplii, I find them very hard to deal with!
They make it very difficult to link a Simplii account, to an external account.

Yes - has anyone ever figured out the best way to link an external account with Simplii?

  1. Years ago I mailed in a void cheque. Nothing happened.
  2. Once a CSR gave me an online form to sign and link an account. Worked well.
  3. Later called in again to another CSR asking for the linking form. Said the online linking form never exists.
July 2, 2022
9:10 pm
Norman1
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Simplii has an online form to request the link to the external account. The form gathers the institution, transit, and account numbers.

A mailing address is then provided for one to mail a void cheque or stamped account confirmation form to.

I did that some years ago and it worked. I mailed them a voided real cheque to confirm the external account.

July 3, 2022
11:12 am
Nehpets
Ontario
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As the originator of this discussion, and my subsequent attempt at opening an account at Simplii, I ultimately gave up and told them to cancel my entire application process and close whatever they had started, due to their inefficient, time consuming and unnecessarily protracted intake process.

The process requires numerous telephone calls to speak to a CSR to set up various parameters, but the CSR can only resolve one issue in any one given call....no multitasking capability

Too much time wasted on the phone and not worth the effort, when one contact with Meridian set up everything I needed to take advantage of their promo paying 3.15%.

Stephen

April 23, 2024
1:58 am
Hmm
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Nehpets said
As the originator of this discussion, and my subsequent attempt at opening an account at Simplii, I ultimately gave up and told them to cancel my entire application process and close whatever they had started, due to their inefficient, time consuming and unnecessarily protracted intake process.

The process requires numerous telephone calls to speak to a CSR to set up various parameters, but the CSR can only resolve one issue in any one given call....no multitasking capability

Too much time wasted on the phone and not worth the effort when one contact with Meridian set up everything I needed to take advantage of their promo paying 3.15%.

Stephen  

I might do the same. I wanted to do some house cleaning in my Simplii portal like unlink external accounts and add some via mobile app. This isn't possible. The instructions on their website are wrong too.

I only use Simplii Visa for restaurant purchases although some merchants maliciously miscategorize their business like Church's Chicken to anything other than a restaurant. I pay my balance through Tangerine.

April 23, 2024
3:09 am
iotama
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For me at least, Simplii is now at the bottom of my FIs list. The only remarkable thing is how steady and consistent the "enshittification" of it has been over the years. I deal with it when I absolutely must, for selfish reasons. The opportunity cost of each dealing alone is most often not worth it. But if I can account for all that, I do it grudgingly. sf-laugh

April 23, 2024
7:20 am
COIN
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With Simplii I can deposit a cheque at the CIBC ATM directly to the savings account. No need to deposit first to chequing and then transfer to savings.

April 24, 2024
4:17 pm
Loonie
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Over the years there have been a lot of complaints and annoyances reported about Simplii. So far, I have avoided opening an account there.
The only advantage it has that I can see is that it is wholly owned by CIBC and insured under their umbrella, so one worries less about CDIC coverage limits.

I have always been able to find an offer that is as good or better somewhere else, so far.

There are lots of places where you can deposit a cheque directly to savings remotely, such as Meridian.

April 25, 2024
9:05 am
InterestThis
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Simplii works, but it's extremely badly run without staffing, seems CIBC believes since you are not paying for the account, you deserve an account commensurate with that price.
The only new thing they have added are neon colours.
But the banking part works properly.

April 25, 2024
12:28 pm
Bill
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I use Simplii only for their promos and credit card for restaurants, been with them since day one and I'm quite fine with their operations for my purposes.

May 2, 2024
1:41 am
Hmm
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Bill said
I use Simplii only for their promos and credit card for restaurants, been with them since day one and I'm quite fine with their operations for my purposes.  

Many of us don't get promos anymore. Fortunately, you haven't had any hiccups. That's when you notice how bad of an operation they have.

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