

8:38 am
January 9, 2011

Nope!
Furthermore, with a joint account, there is no way of knowing who the Primary holder (for tax) is, because whoever signs in to Simplii shows first on the account (ie; it changes appearance, bizarre)!
And, on top of not knowing for sure who the Primary account holder is (keeping in mind which person was offered the promo), if you have a promo rate and multiple savings accounts (individual and joint for example), they will refuse to confirm in writing which accounts are included in the promo. This happened to us multiple times - they angrily said THEY have a recording of the phone call where they verbally provide the info!
As they are the only bank to NOT pay promo interest monthly, you can't even gamble for a short time to see if promo interest gets paid or not! You get that interest two weeks after the promo is over. And then does anybody trust, and what good is, that phone call recording. Can you imagine the computer database needed to keep and be able to retrieve every phone call they ever made?
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
5:49 pm
December 7, 2011

But, in Simplii defense, Simplii promptly sent all HISA customers interest rate via Canada Post recently.
Because that rate is set forever, there is really no reason to display it in online banking, Simplii thinks.
If I remember correctly, my HISA rate is set at 0.4%.
I promptly threw away that printed notice immediately.
6:28 pm
December 7, 2018

9:39 pm
October 21, 2013

I have never had an account at Simplii and am hoping to permanently avoid them but here are a couple of suggestions:
Take a look at last year's T5s. If there was sufficient interest, you should be able to deduce who is primary on which accounts. The primary is normally the name that will be on the T5. It may take a bit of work to figure this out if you have multiple joint accounts, but it can be done.
Close all the joint accounts with person #2 as primary, or better yet, don't open them. Then you will know they all have person #1 as primary in future.
If you can't figure out the latter, open a new set of accounts, keeping track of which is whose, then close the existing ones (being alert to any fee for early closing of accounts); and move any eligible funds to new promo accounts or just wait til next promo. Keep a record for future.
I have gotten into the habit of identifying all new joint accounts this way, no matter which FI. It makes things easier all-round as the info can be hard to find even when it's available.
4:42 am
April 6, 2013

Savings account rates has the current posted rates for their savings accounts:
If your account balance is: | Annual rate |
$0.00 to $50,000.00 | 0.40% |
$50,000.01 to $100,000.00 | 0.40% |
$100,000.01 to $500,000.00 | 0.65% |
$500,000.01 to $1,000,000.00 | 1.25% |
$1,000,000.01 and up | 5.50% |
I have never seen any indication of a promotional rate on the Simplii savings accounts.
5:13 am
March 30, 2017

5:28 am
February 14, 2023

6:49 am
March 14, 2023

In the long time I've had accounts with Simplii and PCF before, I've never seen the current interest rate (promo or otherwise) posted. Just the generic table as Norman1 pointed out.
I believe the online statements show primary listed first on joint accounts.
I've had a few of their promos over the years, and the lack of monthly payout was concerning but they've never failed to pay the promo amount at the end.
All in all, they're generally not competitive and are the last place I'll park savings $.
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