Dealing with Simplii ?? | Simplii Financial | Discussion forum

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.

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.

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.

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.

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.