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Email this6:18 am
March 15, 2019
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snabeen said
I just read about the new promo for 2% on Simpli’s HISA for 6 months. I logged in to my account and didn’t see the 2% offer anywhere so I phoned them. The representative looked at my account, which has a current balance of $2, and she said the 2% offer actually IS on my account. She said it won’t appear online but she made a note and said I will receive an email with the terms and conditions within the next 24 hours. Be sure to call Simplii and check to see if there is an offer on your account because it didn’t appear on mine.
savemoresaveoften said
really ?! never heard of that. Make sure u did rec a confirmation email. Without the email, they wont honor it.
I also called Simplii a few days ago and to paraphrase the "Soup Nazi" on Seinfeld.
"NO OFFER FOR YOU."
Question: When you sign in to your account, where do you look to see if tou received the 2% offer? All I saw was a credit card offer.
6:33 am
May 20, 2016
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No offer for me.
8:22 am
August 3, 2021
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Why would any one deal with an FI that does not give deals to EVERY existing customer? There are so many negative spin offs by their current methods.
9:06 am
April 6, 2013
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Because it is worthwhile when one is given a deal.
For the other months of the year when one is not under a deal, one can move the money elsewhere.
9:48 am
September 11, 2013
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If the question is why do we deal with fi's that don't treat everyone the same it's because we (most of us) act in self-interest, don't really care about anyone else. So if the deal's there for us we're taking it.
9:51 am
March 15, 2019
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Many or most institutions do offer "deals" to their "high value"clients but Simplii and Tangerine are weird in that they offer deals/promos that defy rhyme or reason.
10:42 am
April 1, 2015
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Following is the email I received today after receiving an invitation yesterday to accept the offer. I did not have to call in to get a confirmation email. It was sent automatically after I accepted the offer yesterday.
“As requested, this email confirms you're signed up for the Simplii Financial™ Savings Account offer. You'll earn 2.00% on eligible new deposits until February 28, 2022.
Grow your savings by signing on to online banking at simplii.com to set up automatic transfers into your Savings Account today!
Thank you for banking with us.”
12:44 pm
April 9, 2013
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Bill said
If the question is why do we deal with fi's that don't treat everyone the same it's because we (most of us) act in self-interest, don't really care about anyone else. So if the deal's there for us we're taking it.
Further to what Bill said, the simple truth is that it's a seller's market, hence, we as buyer's take what we can get. If it was a buyer's mkt, we would do as BestBankerEver alluded to & tell those 2-faced bankers to take a flying you know what by depositing our funds with those with more integrity (presuming such a banker exists) & value our clientele.
3:47 pm
January 9, 2011
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Simply, no Simplii for me today (or likely any other day). Phoned in to ask, waited, waited, finally found out my wasted time was indeed a waste of time. Empty feeling... "Thank you for banking at (insert finger) 
Rather than interest, I wish they would pay for our time on hold. Then (depending on the rate), I might have a hope of making money these days.
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
6:28 am
January 1, 2018
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I've participated in multiple similar offers in the past, but no email for me, or my wife from Simplii. Logged in to check, and nadda there either.
Perhaps they noticed the funds disappeared shortly after their promo offer expired ? But with such lousy HISA and GIC rates, what do they expect ?
Oh well, not a big deal, as I was not a fan of how they do promos anyway.
7:08 am
March 30, 2017
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Jim Sherat said
I've participated in multiple similar offers in the past, but no email for me, or my wife from Simplii. Logged in to check, and nadda there either.Perhaps they noticed the funds disappeared shortly after their promo offer expired ? But with such lousy HISA and GIC rates, what do they expect ?
Oh well, not a big deal, as I was not a fan of how they do promos anyway.
if u keep ur funds there after an existing promo, and then they offer a new promo but on new funds only, either way you dont win.
I always withdraw my funds after current promo ends, as there is no upside at all to keep it there anyway.
8:38 am
April 6, 2013
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COIN said
Many or most institutions do offer "deals" to their "high value"clients but Simplii and Tangerine are weird in that they offer deals/promos that defy rhyme or reason.
Simplii and Tangerine could have more "high value" clients than they have marketing budget for. If they gave every one of them the deal, then the deal may just be an extra ¼%, which would not be much of a promo.
Instead, they can randomly select about 1/5 of the "high value" clients and give them an extra 1¼%.
5:10 pm
October 21, 2013
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Norman1 said
COIN said
Many or most institutions do offer "deals" to their "high value"clients but Simplii and Tangerine are weird in that they offer deals/promos that defy rhyme or reason.Simplii and Tangerine could have more "high value" clients than they have marketing budget for. If they gave every one of them the deal, then the deal may just be an extra ¼%, which would not be much of a promo.
Instead, they can randomly select about 1/5 of the "high value" clients and give them an extra 1¼%.
I doubt that this is the way it works.
I no longer have an account with Tangerine. The last time they were willing to give me a good rate, it came with the condition that I deposit 250k, which I would not do.
5:29 pm
January 9, 2011
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I think the plan is to test out different existing customers, to see who at the end of the deal is lazy, inattentive or doesn't care much. Then you recoup the loss really fast via 0.1% and so on, with all those funds earning almost nothing. In other words, search for marks. 
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
6:36 pm
December 27, 2020
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dougjp said
I think the plan is to test out different existing customers, to see who at the end of the deal is lazy, inattentive or doesn't care much. Then you recoup the loss really fast via 0.1% and so on, with all those funds earning almost nothing. In other words, search for marks.
Exactly.
5:36 am
October 27, 2018
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savemoresaveoften said
if u keep ur funds there after an existing promo, and then they offer a new promo but on new funds only, either way you dont win.
I always withdraw my funds after current promo ends, as there is no upside at all to keep it there anyway.
I like your idea of moving your money after the promo ends, however, I'm thinking that if one moves the money just before the Promo ends it will leave a "smaller" beginning balance for the Next Promo. This Promo ends Feb 28, 2022 (a Monday), so I move money on say, Feb 23.
The promo interest is on the average daily balance that exceeds the beginning balance (Aug 31, 2021). So moving it before the Promo ends shouldn't affect the Promo interest paid out too much.
10:19 am
September 25, 2019
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I rarely get Simplii offers, nowadays (including not getting this one); they are looking for suckers to deposit & forget, so they can pay you .10%, or whatever it is now.
12:14 pm
April 6, 2013
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Loonie said
I doubt that this is the way it works.
I no longer have an account with Tangerine. The last time they were willing to give me a good rate, it came with the condition that I deposit 250k, which I would not do.
Just wait for the next offer that is good. I don't call them anymore. Yet, Tangerine still sends me at least one good offer a year.
I don't think they care about my account balance. They see that I transfer out after the promo ends when there's no follow up offer. They aren't making much from the few dollars of Tangerine MasterCard cashback being deposited to the savings account.
The offers are marketing exercises. Simplii Financial is CIBC. Tangerine Bank is owned by Bank of Nova Scotia. Neither CIBC nor Bank of Nova Scotia need to pay junk bond rates, above 1%, to attract short term funds. Banker's acceptances (24 to 40 days) currently yield around ¼%, $50,000 minimum and no deposit insurance!
7:34 am
February 7, 2019
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I "bought" Simplii GIC's when they had competitive rates early in 2019. Nothing good and no offers since.
I asked about that current offer but it seems I'm not the kind of customer they're interested in.
That GIC money comes due Feb 2022. I'll withdraw and close my account then ...
| CGO |
7:07 am
March 15, 2019
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Ok, so I'm still puzzled by Simplii's business model.
Are they offering some clients only 0.10% in order to subsidize those clients offered 2%? If true, why would any intelligent client keep their money with Simplii earning 0.10%?
"Instead, they can randomly select about 1/5 of the "high value" clients and give them an extra 1¼%." I think the result is that the other 4/5 "high value clients" will take their money and walk.
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