Simplii Financial Extends its Promo from March 1- June 30, 2018 | Simplii Financial (formerly PC Financial) | Discussion forum

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Simplii Financial Extends its Promo from March 1- June 30, 2018
February 21, 2018
7:29 am
rfdm4g4g9
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Promo extended till June 30,2018 but reduced by 0.5 %. No longer 3 %, just 2.5 %, so similar to Tangerine Promo.

Getting an exclusive rate of 2.50% couldn’t be easier: simply enroll now and starting March 1, 2018, you’ll earn interest on eligible deposits made between November 1, 2017 and June 30, 2018*. That means you’ll earn interest on deposits you’ve already made – plus on new deposits!

Check your emails or Log in and see it.

February 21, 2018
7:58 am
Bill
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Targeted, not offered to everyone.

February 21, 2018
8:27 am
bpwest
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I have received no notice from Simplii yet; will update if I receive an extension of any sort...until then, will prepare to move back to Tangerine...

February 21, 2018
9:10 am
saver333
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I recently was prompted to get a bank card, which I did .. I have a joint account. Logging into my card I did not receive any offer, however logging into my wife's brought up the enrollment offer which I accepted. There is no indication once I'm in that I have been enrolled, however. Similarly, until I actual get my previous promotional interest in March, I'll not be 100% convinced that I'm to receive it! Wish they did more to let you know you'll be getting it rather than have to wait months to see for sure. I did call awhile ago, but they were going by the rules, not if my account specifically had a flag for getting the promo interest sf-cry

February 22, 2018
7:02 pm
rfdm4g4g9
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https://imgur.com/a/MMbkk

They are giving between 1.75 % to 2.5 % to selected targeted customers.

Just like Tangerine its completely random, some are getting more, some are getting less, some nothing at all, irrespective of how much & how long you have in your account.

February 22, 2018
7:09 pm
Bill
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rfdm4g4g9 said
They are giving between 1.75 % to 2.5 % to selected targeted customers.

Just like Tangerine its completely random, some are getting more, some are getting less, some nothing at all, irrespective of how much & how long you have in your account.  

Where did you get this information?

February 23, 2018
8:53 am
rfdm4g4g9
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Bill said

Where did you get this information?  

A few posters on RFD.

February 23, 2018
9:11 am
julio
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1.75% offer for me. I politely declined.

February 23, 2018
9:21 am
Winnie
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Nothing for me.
I called today, told Simplii that all my money will be out on Feb 27, but they do not care at all.

February 23, 2018
9:58 am
tgaucher
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Just wondering how banks are able to make better savings offers to certain customers and not others. Its like a store selling something to someone for $10.00 and charging another customer $25.00. I can see with loans you can base it on credit risk and charge someone with a higher credit risk more but with a savings account can someone please tell me what risk they are taking.

February 23, 2018
11:30 am
Bill
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tgaucher, businesses can do whatever they want, within the law, no need to explain to anyone why they're doing it. Deposits are deposits, doesn't really matter from whom they come, not really a "risk" issue as much. For whatever reasons, they think doing this will help them achieve their profit objectives.

February 23, 2018
11:47 am
davidgeorge
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2.5% is not enough for me to stay with Simplii. Will move to Tangerine. Simplli pays promotion interest after the promotion period and Tangerine pays interest monthly.

February 23, 2018
11:51 am
gamgam
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Called Simplii asked for a retention offer on Tuesday. Told it would take 2 days to get back to me. Called after 2 days, Thursday, with no offer whatsoever. I'm also outta there! Does anyone think BofC will raise once or twice this year? Am wondering if an 18 month term at 3% is locking funds up for too long? Although even with a rise in the BofC rate, as we have seen it is not passed on to the savers!

February 23, 2018
12:53 pm
tgaucher
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I politely disagree that banks are able to do anything. They are highly regulated, and I don't see how they could offer someone 1.75% for the same product and another person 2.5%. That seems like blatant discrimination for whatever reason. I will have to look into this further, maybe lodge a complaint with the consumer branch of banking. If I went to Canadian tire and the person in front of me was paying $100.00 for tires and they wanted to charge me $200.00 that certainly wouldn't fly.

February 23, 2018
1:07 pm
JustMe2016
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By offering 3% Simplii ended up with a truck load of new cash. A percentage of those people will 'temporarily' forget that the promo ends on Feb 28 and will leave their cash at 1.1% for 'some time'. This is where Simplii is making a nice profit.

February 23, 2018
1:48 pm
Bill
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JustMe2016, exactly - enjoy the benefits, be a CIBC shareholder!

tgaucher, I look forward with great interest to the results of your investigation. You could be right, though I don't see that it's discrimination - everybody gets their regular 1.1% rate and they have targeted some people whose continued business they covet for reasons of their own for a temporary promotional rate. The free market in everything, not just banking, is rife with promotional offers for some and not for others, it's very common.

February 23, 2018
2:39 pm
Top It Up
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tgaucher said
... I don't see how they could offer someone 1.75% for the same product and another person 2.5%. That seems like blatant discrimination for whatever reason. I will have to look into this further, maybe lodge a complaint with the consumer branch of banking.  

NOPE ... you need to come to terms with the fact that some customers/clients are worth more than others to financial institutions and those valued clients may from time to time be rewarded with benefits for being just that. Happens in the banking business, in the cell phone contract business, in the car dealership business, etc, etc, etc.

February 23, 2018
3:55 pm
voodoo22
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I personally believe these kind of "random" promotions are being used to gather BIG DATA so that the corporations can better learn how to manipulate their clients and that's the simple answer to coming to understand these methods.

February 23, 2018
4:08 pm
Save2Retire@55
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Nothing for me either. Moving it to EQ for now 2.3%.

February 23, 2018
6:38 pm
tcharger67
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Saver... Why not tangerine at 2.5?

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