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How to see interest rate on savings account?
April 2, 2024
2:49 pm
Top Dogg
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zgic said
I finally got the promo interest today. So no yanking as of now.
Their CSRs do not seem to have the correct knowledge about transfers etc. Strange. If you are doing an EFT, I would suggest starting with a large amount and slowing going down to see the max you can send.  

How come you're not yanking the funds? Weren't you on the 5.50% promotional interest rate that ended on Sunday March 31st?

April 2, 2024
3:04 pm
zgic
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Top Dogg said

How come you're not yanking the funds? Weren't you on the 5.50% promotional interest rate that ended on Sunday March 31st?  

No. I am a NEW CLIENT on the 6% interest rate for 5 months.

April 2, 2024
3:05 pm
Top Dogg
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zgic said

No. I am a NEW CLIENT on the 6% interest rate for 5 months.  

Ahh ok..nice!

April 3, 2024
11:00 am
SuperSaver
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zgic said

I opened a new Simplii account for the 6% promo for 5 months. So will I NOT see the first month March interest on April 2? Today I logged in to see no promo interest. Do I have to wait till 1st week of August? Omg
Anyone here has opened Simplii account for the 6% promo please advise on when you received the promo interest. Thank you.  

I did the same. I logged in today and the promotional interest was there with a posted date of April 2nd.

April 9, 2024
12:50 am
Lamaison
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Simplii's regular rates for anything under $1M range from pathetic (o.40%) to very low (1.25%) yet for anything over $1M was 5.50% last I looked. Not much doubt as to their preferred customer!! Maybe they just don't want their biggest customers ($1M+) playing their Tangerine style lottery games!!sf-confusedsf-confused

April 9, 2024
5:34 am
mordko
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Lamaison said
Simplii's regular rates for anything under $1M range from pathetic (o.40%) to very low (1.25%) yet for anything over $1M was 5.50% last I looked. Not much doubt as to their preferred customer!! Maybe they just don't want their biggest customers ($1M+) playing their Tangerine style lottery games!!sf-confusedsf-confused  

It is a bit peculiar. I can’t imagine this being a real world scenario but if they do have lots of clients with over $1M, wouldn’t it make Simplii very vulnerable? Funds not covered by CDIC are prone to fleeing at the first sign of danger.

April 9, 2024
6:09 am
InterestThis
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Simplii is designed to be minimally functional.
There is also a wide open backdoor to the account, with the Global Money Transfer which you cannot turn off or limit, so if you get hacked with a trojan keylogger about 150K could vanish from your account and tough luck for the customer. The money is gone overseas.
Have an official complaint in to get Global Transfer turned off, and for sure there will be no response from Simplii for months, and then they will say you cannot turn it off or limit it.
https://www.simplii.com/en/global-money-transfer.html
Global Money Transfer is how these other people got robbed, and the bank will not cover it. https://www.highinterestsavings.ca/forum/general-financial-discussion/ottawa-woman-warned-bmo-of-suspected-bank-fraud-still-lost-15k/

April 9, 2024
6:23 am
zgic
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InterestThis said
Simplii is designed to be minimally functional.
There is also a wide open backdoor to the account, with the Global Money Transfer which you cannot turn off or limit, so if you get hacked with a trojan keylogger about 150K could vanish from your account and tough luck for the customer. The money is gone overseas.
Have an official complaint in to get Global Transfer turned off, and for sure there will be no response from Simplii for months, and then they will say you cannot turn it off or limit it.
https://www.simplii.com/en/global-money-transfer.html  

I am hearing all sorts of things here for Simplii, which are worrisome.
SO, I just now went to my Simplii account to check this and clicked on Global Money Transfer and I get this.
We’re Sorry. You are not eligible to register for Global Money Transfer. Please Call Simplii Customer Service 1 (888) 723-8881 for further assistance.

So probably seeing this is a GOOD sign?.sf-laugh

April 9, 2024
6:48 am
InterestThis
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zgic said

I am hearing all sorts of things here for Simplii, which are worrisome.
SO, I just now went to my Simplii account to check this and clicked on Global Money Transfer and I get this.
We’re Sorry. You are not eligible to register for Global Money Transfer. Please Call Simplii Customer Service 1 (888) 723-8881 for further assistance.

So probably seeing this is a GOOD sign?.sf-laugh  

That is fantastic. Its wishful thinking, but maybe the holy hell being raised by people being robbed using Global Money Transfer has caused them to limit it for those with some $ in the account. On the other hand, after I clicked on Global Money Transfer, and made a complaint about it, I now get emails daily telling me how to use it. Global Money transfer is a dangerous backdoor to getting robbed. If a person wanted to use it, treat it like Paypal and just pass money through the account without much of a balance.

April 9, 2024
6:55 am
mordko
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zgic said

I am hearing all sorts of things here for Simplii, which are worrisome.  

If I were you, I would ignore them. Every bank provides capabilities to transfer money internationally. Nothing’s wrong with CIBC’s security.

My comment on very large cash holdings fleeing was from the “hypothetical” category, also to be ignored.

April 9, 2024
6:59 am
zgic
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mordko said

If I were you, I would ignore them. Every bank provides capabilities to transfer money internationally. Nothing’s wrong with CIBC’s security.

My comment on very large cash holdings fleeing was from the “hypothetical” category, also to be ignored.  

Thanks mordko. Your message will give me some peace of mind.

April 9, 2024
7:00 am
InterestThis
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Simplii basically says if you lose your money...NUTS TO YOU.

https://www.payments.simplii.com/fxc/fx/assets/documents/tnc/IR_Registration/v5/TermAndCondition_en.pdf

No Cancellation of a GMT (not applicable to the Pick-up Option).
Once you make a request for us to send the GMT and the funds/fees have been withdrawn
from your account (the “Account”) or charged (as either a pending or posted transaction) to
your credit card account (the “Credit Card Account”), the GMT may not be cancelled.

Intermediaries.
We may engage Intermediaries selected in our complete discretion to make the transfer. We
shall not be liable to you for any such selection made by us, the Recipient, or another
Intermediary.

You understand and agree that, except as otherwise provided in this Agreement,
and in addition to those limitations on our liability set out elsewhere in this Agreement, we are
liable to you only for direct damages resulting from our gross negligence, fraud or willful
misconduct arising directly from our performance of our obligations under this Agreement; we
will not be liable to you for any other direct damages. In addition, we will not under any
circumstances be liable to you for any other damages, including, without limitation, indirect,
incidental, special, punitive or consequential losses or damages, loss of profits, loss of
revenue, loss of business opportunities, or any other foreseeable or unforeseeable loss
resulting directly or indirectly out of this Agreement or the Service provided to you, even if we
were advised of the possibility of damages or were negligent. These limitations apply to any
act or omission of us, our affiliates, agents or suppliers, whether or not the act or omission
would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of
law. In the event we are liable to you as provided in this Agreement, we will not be
liable for any amount exceeding the amount of the GMT. Gross negligence in this
paragraph means conduct (whether through action or inaction, or through words or silence)
which is (i) a marked and flagrant departure from the conduct ordinarily expected of a
reasonable and prudent person in the position of CIBC, or (ii) so wanton and reckless as to
constitute an utter disregard for harmful, foreseeable and avoidable consequences

April 9, 2024
7:03 am
InterestThis
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Beware of false information. Tangerine does NOT have Global Money Transfer, for example.
BMO has had many people ROBBED through Global Money Transfer recently as seen in the media.
Would not listen to certain people who like to imagine they have all the answers, it's your money.

April 9, 2024
7:05 am
zgic
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InterestThis said
Beware of false information. Tangerine does NOT have Global Money Transfer, for example.
BMO has had many people ROBBED through Global Money Transfer recently as seen in the media.
Would not listen to certain people who like to imagine they have all the answers, it's your money.  

Are you moving out of Simplii or already done so?
Have you closed all your accounts with Simplii or are in the process of doing so?

April 9, 2024
7:36 am
Lodown
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Peter said
Looks like there's no way to see the current interest rate on your account?

Simplii Financial savings account online interface  

For badboy banks, when there is a nickname feature use it with something like: PM630SEP
P: peter is primary
M: Mary is secondary
6: 6% interest being earned
30SEP: promo rate ends 30Sep24

April 9, 2024
7:41 am
mordko
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Tangerine might have limited capabilities but its parent Scotia certainly has this option.

https://www.scotiabank.com/ca/en/personal/ways-to-bank/international-money-transfer.html

That does not mean that Tangerine is safer than Scotia and that Scotia/Simplii are somehow unsafe.

April 11, 2024
3:54 pm
InterestThis
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Global Money transfer scams
140 BMO customers plan to sue bank after alleged transfer frauds

April 12, 2024
11:53 am
Lamaison
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zgic said

I am hearing all sorts of things here for Simplii, which are worrisome.
SO, I just now went to my Simplii account to check this and clicked on Global Money Transfer and I get this.
"We’re Sorry. You are not eligible to register for Global Money Transfer. Please Call Simplii Customer Service 1 (888) 723-8881 for further assistance".

So probably seeing this is a GOOD sign?.sf-laugh  

I just did the same and got the same message re: not eligible for GMT (which is GOOD). Have HISA only if that makes any difference.

Also received new deposit offer of 5.50% to July 15. No email (yet) but right there upon logging in.

April 12, 2024
1:08 pm
zgic
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Lamaison said

I just did the same and got the same message re: not eligible for GMT (which is GOOD). Have HISA only if that makes any difference.

Also received new deposit offer of 5.50% to July 15. No email (yet) but right there upon logging in.  

That is GOOD news. I also have only HISA.

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