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New client offer - 2.2% until Apr 30, 2022
November 1, 2021
12:50 pm
hwyc
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New client offer - 2.20% until Apr 30, 2022

This HISA Offer begins on November 1, 2021 and ends on April 30, 2022

... could be my haven until BoC rate goes up again

November 1, 2021
4:32 pm
COIN
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hwyc said
New client offer - 2.20% until Apr 30, 2022

This HISA Offer begins on November 1, 2021 and ends on April 30, 2022

... could be my haven until BoC rate goes up again  

New clients only? Nothing for loyal existing clients?

November 1, 2021
6:17 pm
HermanH
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COIN said
New clients only? Nothing for loyal existing clients?  

Yes, both the No Fee Chequing Account and High Interest Savings Account offers are only available to new clients. That means you don’t already have any accounts with us.

See the FAQ (bottom of the page)

November 2, 2021
7:05 am
Norman1
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There was a 2% new money offer earlier for September to the end of February. That offer was sent to select existing customers.

Usually, Simplii has a general offer around this time of the year that includes existing clients. So far, there has only been that targeted 2% offer.

November 2, 2021
3:43 pm
Loonie
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Has anyone found any T&C on this offer?

November 2, 2021
3:50 pm
Patch002
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For those applicable, the Jul 1 to Oct 31 promo at 1.5% has now expired and will now earn 0.10%.

For those applicable, the Sept 1 to Feb 28 promo at 2.0% continues but the higher rate is only applicable to the incremental balance higher than the Aug 31 balance. i.e. the 2.0% rate does not apply to the Jul 1 - Oct 31 amount.

You may have to do some calculations, but for me, it is better to move all to EQ and earn 1.25% on the Entire Amount. (It's also an option to park some amount at EQ's GIC earning 1.50% for 3 months.) While waiting to see if Simplii has another offer.

November 30, 2021
8:03 am
Bobbyjet11
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I have been attempting to set up a high-interest savings account with a link to my TD account since November 4th. 7 or 8 phone calls later, numerous hold times and conflicting information from CSRs depending on who you talk to, I'm finally getting close. If it weren't for the 2.2% promotion I would have given up 4 phone calls ago.
Beware, you will need a lot of patience to deal with Simplii.

November 30, 2021
9:27 am
Bobbyjet11
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My recommendation for transfers would be to push the money to Simplii from your institution. Unfortunately, TD doesn't have that option.

November 30, 2021
11:17 am
Norman1
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Previous discussion Pull Request from Simplii has details about Simplii's specific requirements.

Just a form with the account info is not enough. Need a real cheque or have the form stamped.

December 21, 2021
8:31 am
frustrated
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December 21, 2021
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Hi,
I am new to posting on this forum but have read it for a couple of years and find it very good. I have been trying to open a simpli account and set up bank to bank transfers for over a month now. It is still not done. The void cheque was sent in with all required forms filled out and signed. They received the cheque but have lost the forms that were with it. After 3 more attempts following there instructions both online, via email and by mail they still have not found a way to set up the bank to bank transfer and just tell me to do the same thing that has failed 3 times again. I have done this with other banks and have never had problems like this. It simpli is not worth the frustration to try to deal with them.

December 21, 2021
9:39 am
hwyc
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That is very very bad indeed, while clock is ticking away what's left till Apr 30th. Have you received the client card & activated online access? Try deposit (no withdraw if only HISA account) via CIBC ATM if you are not yet ready to abort this endeavor.

Hope this helps.

December 21, 2021
10:22 am
Loonie
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It's not entirely clear to me, but I believe you have succeeded in opening the account, but can't do the transfers?

Can you perhaps deposit a cheque by smartphone instead? May need a simplii chequing account for this. I don't deal with them so don't know.

Assuming you've got the account opened, I think it's worth trying to make it functional if possible. They won't allow you to take advantage of another new client offer later if you've got this one opened, so you want to make the best of it that you can.

I have never dealt with Simplii because so many reports have been posted of difficulties and sneaky wording on offers. Also, they have not had an offer that I really needed - yet.

The one advantage they do have, and the reason I don't completely rule them out, is that they are insured under CIBC's CDIC umbrella, which probably makes deposits over the maximum fairly safe. Their major direct competitor, Tangerine, is a slicker operation but does not have this advantage.

Sorry you are having all these problems.
Welcome to the forum!

December 21, 2021
10:54 am
canadian.100
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Loonie said

Can you perhaps deposit a cheque by smartphone instead? May need a simplii chequing account for this. I don't deal with them so don't know.

Assuming you've got the account opened, I think it's worth trying to make it functional if possible. They won't allow you to take advantage of another new client offer later if you've got this one opened, so you want to make the best of it that you can.

I have never dealt with Simplii because so many reports have been posted of difficulties and sneaky wording on offers. Also, they have not had an offer that I really needed - yet.

The one advantage they do have, and the reason I don't completely rule them out, is that they are insured under CIBC's CDIC umbrella, which probably makes deposits over the maximum fairly safe. Their major direct competitor, Tangerine, is a slicker operation but does not have this advantage.
Welcome to the forum!  

You are correct in they are a division of CIBC and exceeding CDIC limits is pretty much a non issue from a risk point of view.
Simplii is probably the only no-cost digital account from a big bank umbrella - they do not even charge for cheques - blank cheques are always free. Not the case with Tangerine - the first chequebook is free but you pay after that.
I have found a very short wait to speak to an agent compared to Tang where you can wait perhaps 35 minutes.
With Simplii you can do a mobile deposit directly to your Savings Acct - you do not have to mobile deposit only to your chequing acct.
I have taken up their offers when it fit my purposes - I never found the offers misleading - I found the wording truthful and straight forward. So not sure what "sneaky wording" you say you read in reports. I don't like that they pay the bonus interest on promos in bulk after the promo ends, but they are clear about that up front. Simplii is a good product for a simple free chequing account with no charge bill payments, no charge blank cheques, no charge interac e-transfers and very convenient numerous CIBC ATMs.

December 22, 2021
5:38 am
frustrated
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I have an account at Tangerine and agree with the slightly longer wait times to talk to someone but I have found them knowledgeable and helpful. I did manage to put a little test money in via a cheque through a cibc bank machine. I still don't have bank to bank set up. When I was fed up and asked how to close the account and get my money out they suggested I could do a bank to bank transfer! They finally said I could call back and they would send a draft.

The most frustrating was being told what I still had to do to set up the transfer when I had already done it multiple times. Getting to talk to someone that could go off script and then actually do something was impossible. I am afraid that what is left of the bonus is not worth the frustration.

December 22, 2021
6:53 am
hwyc
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frustrated said
... Getting to talk to someone that could go off script and then actually do something was impossible. I am afraid that what is left of the bonus is not worth the frustration.  

Has the matter reached CIBC Ombudsman yet ? ... there is a multi-step escalation documented on page 24 in their Product & Service Agreement. Quite obvious the matter would not escalate internally by itself ... it will only loop indefinitely

It is uncommon & time consuming but I have engaged these processes with other FIs to resolution in the past.

December 22, 2021
12:01 pm
RetirEd
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We've often seen financial institutions back-date transfers that take too long to complete. Doesn't hurt to ask...
RetirEd

December 22, 2021
3:49 pm
Norman1
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I've set up bank-to-bank transfers at Simplii. There was no problem.

Simplii is more strict. Simplii requires a real cheque that is voided. Those faux void cheques, like the void cheques from EQ Bank, are not acceptable to them.

Simplii will also reject those pre-filled pre-authorized debit forms unless the form is teller stamped by the other financial institution.

December 22, 2021
5:00 pm
Loonie
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Norman1 said
I've set up bank-to-bank transfers at Simplii. There was no problem.

Simplii is more strict. Simplii requires a real cheque that is voided. Those faux void cheques, like the void cheques from EQ Bank, are not acceptable to them.

Simplii will also reject those pre-filled pre-authorized debit forms unless the form is teller stamped by the other financial institution.  

If these are the issues the poster is facing, then Simplii ought to be able to tell them this so that they can fix it.

December 23, 2021
4:10 am
davidgeorge
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If I refer a friend, I can get $50. My question is "Is my friend still eligible for this offer if he uses my refer code to open new accounts?".

December 23, 2021
5:01 am
hwyc
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Yes indeed … new client opening using a referral code/link. As time moves forward, the extra promo rate is not as attractive as it was back in the beginning of November.

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