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PUSH & PULL limits for Simplii Financial HISA ?
November 30, 2017
10:30 pm
rfdm4g4g9
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What are the daily PUSH & PULL limits from Simplii Financial into your external account.

PUSH from Simplii Financial HISA into your external account and PULL money from your external account into Simplii Financial HISA.

Is it a daily limit ? Or is it a per transaction limit ? So you can do multiple transactions on the same day over the limit and it will still go through ?

Say the PUSH limit from Simplii is $ 100 K , so 1 transaction of $ 300 K will not go, so you do 3 transactions of $ 100 K on the same day & it will still go through. Is that how it works with Simplii ?

For PULLING from Simplii does the same thing happen ?

December 5, 2017
5:14 am
dougjp
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My understanding from talking to them is there is a $ 50k limit when done online, but you can transfer more by phoning them. In a different thread it was mentioned that just do multiple online transfers of $ 50k or less to accomplish what you want.

I see that online a message comes up when making a transfer request saying it will happen the next day, unlike most online banks that say 'now' (but 'now only means when they take money away from your account). In reality all of them are probably the same.

I'd like to know how long it takes from requesting a transfer on 'day 1' until funds are in the external chequing account, say at CIBC for example. Will it happen on 'day 2'?

December 5, 2017
5:47 am
Bill
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dougjp, I've had a Simplii savings account for many years, linked to my TD chequing, and, yes, this is the only fi (that I deal with) that makes me wait until tomorrow for the transfer to kick in. I can then count on another 2 business days before it shows up in my TD account, though recently once it took 3 days.

(I've seen talk on here recently that Simplii savings accounts can't be linked to external accounts, I don't know anything about that, that's not my experience, but that might add more time if you first have to move it to your Simplii chequing account.)

Regarding daily transfer limits, that has been discussed a few times on this site previously, I think even in this thread.

December 5, 2017
9:08 am
Rick
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My understanding from other articles is that there is no pull limit. That would be like a bank saying we will pay out any checks you write, but only up to 50K. I have gone over Tangs daily push limit in a single transaction by pulling from the other end and have had no problems. Pulling from the other end also eliminates the next day issue, and can get you double interest while it sits in both accounts, but the funds are subject to your FI's hold policy once they arrive. If you know beforehand you will be moving funds, you can also set up a scheduled transaction a couple days in advance of the desired transaction date.

December 5, 2017
10:34 am
frizun
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The pull limit on external accounts is set by the initiating FI.
Simpii has it set at 100k...if you pull from their end, that is all you
can do without giving them a call first.

December 8, 2017
1:11 am
rfdm4g4g9
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frizun said
The pull limit on external accounts is set by the initiating FI.
Simpii has it set at 100k...if you pull from their end, that is all you
can do without giving them a call first.  

Is that a daily limit or per transaction limit ?

Say I have $ 300 K in my Tangerine account and I want to PULL that money into Simplii HISA by logging into Simplii.

So can I do 3 transaction of $ 100 K on the same day i.e PULL - 3 x $ 100 K into Simplii HISA from my Tangerine account from the Simplii side ?

I don't think there will any limit to PULL into Simplii from the Simplii side. They might put the funds on hold for 4-5 days after you PULL , but I don't think they will limit the PULL to $ 100 K.

Now a PUSH limit of $ 100 K from Simplii I can understand, but PULLING into Simplii you should be able to do more than that, subject to hold after the money comes in.

December 8, 2017
6:52 am
frizun
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If you try to transfer too much at once,you will be told to give them a call.
Push limit seems to be set at 50k.
Don't know about any daily limit.......multi transfers might be possible.

February 17, 2018
7:39 am
dougjp
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Just to bring this forward timeline wise as people may need to know.

Also one specific and timely question. I have set up with Tang pulling from Simplii. I was unable to set up push from Simplii to Tang. If I use Tang to pull over 100k from Simplii, will it work?

February 25, 2018
11:29 pm
rfdm4g4g9
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I will be transferring ALL my money out to Tangerine on February 28. I have 2.5 % till May 31 in Tangerine.

I will be Pulling money from the Tangerine side from my Simplii account. I won't be pushing it out from Simplii side.

Can I do 4 PULL transactions of $ 80 K each in one day ? I think there should not be any daily limit for pulling funds from the other external account, as far as I know.

February 26, 2018
6:57 am
savemoresaveoften
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I called in to transfer out and this is the current rule for pushing funds out.

$50k per transaction, no daily limit, earliest is posted dated for next biz day.

When you call in, they can only do clips of $50k as well in their system. So if you want to transfer out $200k, they put in 4 transactions of $50k each, essentially same as how you can do it yourself without calling in.

February 26, 2018
8:24 am
voodoo22
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Thank you for the info. I was just looking into this.

February 26, 2018
8:30 am
Top It Up
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Can't believe how much conflicting information is continually posted on threads dealing with PUSH / PULL limits.

February 26, 2018
10:21 am
rfdm4g4g9
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savemoresaveoften said
I called in to transfer out and this is the current rule for pushing funds out.

$50k per transaction, no daily limit, earliest is posted dated for next biz day.

When you call in, they can only do clips of $50k as well in their system. So if you want to transfer out $200k, they put in 4 transactions of $50k each, essentially same as how you can do it yourself without calling in.  

Is Pulling funds out of Simplii from your external account also have the same
$ 50 K per transaction limit ?

Or Can you do more than that ? I will be Pulling out of Simplii from the Tangerine side.

I want to do 4 - $ 80 K transactions by Pulling from Simplii. Hopefully they don't block that sf-frown

February 28, 2018
7:27 am
Lodown
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From Tangerine you can PULL out of Simplii in one transaction - $320k will work.

If Tangerine allow the amount you enter - it will work [assumes you have the funds at the other end :)]

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