Simplii Financial Nonsense | Page 3 | Simplii Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Simplii Financial Nonsense
May 22, 2024
9:28 am
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

Sure, Simplii does work, and has CIBC branches.
But if something goes wrong, good luck. I contacted Simplii about my complaint, and they in fact had not bothered to get back to me.
They said Global Transfer cannot be turned off, or limited. So a backdoor to the Simplii account is wide open, if a hacker got in, and its not limited like e-transfer to 3K, it can go to about 150K.
I don't trust the Simplii account anymore for a large transaction. If anything happened, Simplii will tell you to pound sand, that is certain.
So hopefully Simplii customers don't get scammed like at BMO.
https://www.cbc.ca/news/canada/toronto/bmo-customers-transfer-theft-cybercrime-1.7169622

May 28, 2024
12:35 am
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

InterestThis said

Let us know if its legit, or a scam. If you call the main number, then it has to be legit?
Is it a sales call or an account issue?
Simplii has not gotten back to me going on 7 weeks for an official complaint. Simplii is horribly run, would not be surprising if CIBC folds it up, maybe its losing money for them?  

It was legitimate. I was finally able to speak with this manager over the weekend and it was due to a $17,000 fraudulent cheque that someone tried to write on my Simplii Financial Chequing Account when I moved funds over to Simplii Financial from another Financial Institution in early February.

The follow up part below is taken from the thread "Keep an eye on your balances at Simplii" that I started back in February regarding this $17,000 fraudulent cheque:

Follow up: A manager from Simplii Financial contacted me over the weekend regarding the $17,000 fraudulent cheque that someone tried to write on my Simplii Financial Chequing Account in February when I moved funds to Simplii Financial from another Financial Institution (Oaken Financial). To make a long story short, Simplii Financial is giving me two years of free credit monitoring with Equifax along with $250 for my headaches/troubles.

May 28, 2024
8:41 pm
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

Oh wow, thanks for giving the update.
Someone tried to pass a fake 17K cheque, one would think that would be a serious crime, and the police would be involved?
But it sounds like Simplii wants to keep it under wraps, some other banks are trying to make people sign gag-orders if they give them some compensation. I saw in the other thread how it was an obviously fake cheque.

Personally, I have lost all trust in Simplii for larger sums of money.
They refuse to limit or close the open backdoor in the account, the Global Money transfer, when you do not want it. Anyone could get robbed of 10K-150K with that backdoor, and then money is gone if that happens.
Simplii doesn't respond to inquiries in a timely manner.
The Simplii alerts do not work properly, it can take days to get an alert.
Simplii works for basic day to day banking, but I would not trust them for larger sums.

May 28, 2024
11:49 pm
Loonie
Member
Members
Forum Posts: 9289
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

If it were me, I wouldn't be satisfied with $250. For CIBC (Simplii), that has a value of less than a penny in my opinion.
I would want some reason to believe they are taking the issue seriously and that there might be a reason for you and your friends to bank with them in future. It doesn't sound to me like you have one yet.

May 29, 2024
12:12 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

InterestThis said
Oh wow, thanks for giving the update.
Someone tried to pass a fake 17K cheque, one would think that would be a serious crime, and the police would be involved?
But it sounds like Simplii wants to keep it under wraps, some other banks are trying to make people sign gag-orders if they give them some compensation. I saw in the other thread how it was an obviously fake cheque.

Personally, I have lost all trust in Simplii for larger sums of money.
They refuse to limit or close the open backdoor in the account, the Global Money transfer, when you do not want it. Anyone could get robbed of 10K-150K with that backdoor, and then money is gone if that happens.
Simplii doesn't respond to inquiries in a timely manner.
The Simplii alerts do not work properly, it can take days to get an alert.
Simplii works for basic day to day banking, but I would not trust them for larger sums.  

Yes one would think that Police would get involved but with our lax laws in Canada it's worth it for these criminals to "take a shot". I'm sure Simplii wants to keep this under wraps as any financial institution would want to keep it on the down low to minimize as much exposure of this getting out and circulating publicly. I'm just putting it out there and sharing my experience iin hopes that if this happened to someone else on here with Simplii Financial or another financial institution they would have the common courtesy to do the same.

I'm with you, I have a $0.00 balance in Simplii Financial and I highly doubt I would ever keep a large balance in there going forward. There are lots of viable options out there as FI's are competing for our savings dollars.

I have heard of that Global Money Transfer that they offer but have never signed up for it nor used it. I also heard about that issue but thanks for reiterating that once you sign up for it, you can't turn it off which could give a criminal a backdoor out.

May 29, 2024
12:19 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

Loonie said
If it were me, I wouldn't be satisfied with $250. For CIBC (Simplii), that has a value of less than a penny in my opinion.
I would want some reason to believe they are taking the issue seriously and that there might be a reason for you and your friends to bank with them in future. It doesn't sound to me like you have one yet.  

Well what do you want me to do, hold out for more money, take them to court? What am I supposed to say, "Don't you dare put that $250 in my account, I want more money." Give me some questions to ask the manager and I'll call the manager and ask him as I have his extension. The manager I spoke with never gave me a reason and I doubt he would. Tell me how I can better handle this?

May 29, 2024
12:41 pm
HermanH
Member
Members
Forum Posts: 1187
Member Since:
April 14, 2021
sp_UserOnlineSmall Online

Top Dogg said
I have heard of that Global Money Transfer that they offer but have never signed up for it nor used it. I also heard about that issue but thanks for reiterating that once you sign up for it, you can't turn it off which could give a criminal a backdoor out.  

Try sending a letter detailing how you will never use this service and that any attempt to do so should immediately be regarded as fraud. Send it via registered mail. It won't solve the problem, but might help bolster any case you have.

You can also go with FIs that do not allow for GMT. I think that Tang does not use it, at all.

May 29, 2024
1:06 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

HermanH said
Try sending a letter detailing how you will never use this service and that any attempt to do so should immediately be regarded as fraud. Send it via registered mail. It won't solve the problem, but might help bolster any case you have.

You can also go with FIs that do not allow for GMT. I think that Tang does not use it, at all.  

I've never used the GMT service with Simplii Financial before. I think you meant to reply to "InterestThis" reply in this thread.

May 29, 2024
10:01 pm
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

Top Dogg said

I'm with you, I have a $0.00 balance in Simplii Financial and I highly doubt I would ever keep a large balance in there going forward. There are lots of viable options out there as FI's are competing for our savings dollars.

I have heard of that Global Money Transfer that they offer but have never signed up for it nor used it. I also heard about that issue but thanks for reiterating that once you sign up for it, you can't turn it off which could give a criminal a backdoor out.  

Well, if our account got hacked, the hacker would activate and use the Global Money transfer, as it allows for large transfers out of the country, Money gone forever.
Simplii refuses to limit Global Money Transfer, or block it. The only block, is to not use Simplii.
They literally do not care, a person can file an official complaint, no one at Simplii cares. Why should they? Its not their money.
So even if we don't use the Global transfer, if hacked a criminal could use it.

May 29, 2024
10:07 pm
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

HermanH said
Try sending a letter detailing how you will never use this service and that any attempt to do so should immediately be regarded as fraud. Send it via registered mail. It won't solve the problem, but might help bolster any case you have.

You can also go with FIs that do not allow for GMT. I think that Tang does not use it, at all.  

Already did a formal complaint, and Simplii does not care. Like it or lump it, so just have to lump the Simplii accounts, just for small bill payments.
Tang does not have the GMT, which is great. GMT is freaking dangerous, those BMO customers are doing a class action lawsuit on it, which will take forever of course.
I think the banks make a lot of money on the currency exchange on GMT for people sending money back home, so they want to make it super easy.
And if a person gets jacked for 50K-100K, then they can launch a class action lawsuit against a bank...easy.

May 29, 2024
11:38 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

InterestThis said

Well, if our account got hacked, the hacker would activate and use the Global Money transfer, as it allows for large transfers out of the country, Money gone forever.
Simplii refuses to limit Global Money Transfer, or block it. The only block, is to not use Simplii.
They literally do not care, a person can file an official complaint, no one at Simplii cares. Why should they? Its not their money.
So even if we don't use the Global transfer, if hacked a criminal could use it.  

Thanks for reiterating this InterestThis and giving me a heads up on it. I was planning to take a closer look at the 'GMT' but I've only ever used Remitly to send funds overseas (which is cheaper than Western Union). I'm guessing this is common knowledge for most on this forum? So far I've gone unscathed by using Simplii Financial but that could all change if someone has more of my information from the fraudulent cheque written on my account. For the time being, I'm sleeping ok at night!

May 30, 2024
7:24 am
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

Yes, I would actually use that GMT service if I had use for it, just in a segregated account. Like when using Paypal, the money just passes through.
It would be interesting to know the actual % of people who get scammed in their bank accounts, its probably very low, but no one wants to get robbed of 10K-50K-100K if it can be avoided.
Everytime I see an armoured Brinks truck, it reminds me of why they are needed. Our bank accounts need more protection than a Brinks truck, not less.

May 31, 2024
9:27 am
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

InterestThis said
Yes, I would actually use that GMT service if I had use for it, just in a segregated account. Like when using Paypal, the money just passes through.
It would be interesting to know the actual % of people who get scammed in their bank accounts, its probably very low, but no one wants to get robbed of 10K-50K-100K if it can be avoided.
Everytime I see an armoured Brinks truck, it reminds me of why they are needed. Our bank accounts need more protection than a Brinks truck, not less.  

That's a good analogy pertaining to Brinks trucks. Now the next time I see an armored truck I'm going to think that our bank accounts need even more attentive protection in this day and age of online theft.

May 31, 2024
12:25 pm
InterestThis
Member
Members
Forum Posts: 303
Member Since:
November 5, 2022
sp_UserOfflineSmall Offline

I really think banks minimize the amount of online crime, to try to keep the customers confidence. That is why old school banks had those pillars, to look solid. haha.

June 1, 2024
7:38 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

InterestThis said
I really think banks minimize the amount of online crime, to try to keep the customers confidence. That is why old school banks had those pillars, to look solid. haha.  

Yup 100%. It's probably worse than we think or that they lead on. They probably use more tactics than the general public is aware of. If the average person really knew what was going down in their city there would be massive outrage.

June 1, 2024
9:03 pm
HermanH
Member
Members
Forum Posts: 1187
Member Since:
April 14, 2021
sp_UserOnlineSmall Online

Top Dogg said
If the average person really knew what was going down in their city there would be massive outrage.  

As your local police force for a ride-along excursion. If you can get the escort officer talking, he or she is likely to tell you everything going on in any neighbourhood. You will be surprised and shocked at the level of criminal behaviour in even the seemingly quietest community.

June 1, 2024
11:11 pm
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

HermanH said
As your local police force for a ride-along excursion. If you can get the escort officer talking, he or she is likely to tell you everything going on in any neighbourhood. You will be surprised and shocked at the level of criminal behaviour in even the seemingly quietest community.  

Exactly. IF we only just marginally knew what's out there it would blow our minds and make our heads spin at the same damn time!

June 2, 2024
4:00 am
RetirEd
Member
Members
Forum Posts: 1049
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline

Can we really be surprised when Ontario is experiencing a wave of mass golf-cart theft?

RetirEd

June 2, 2024
11:54 am
Top Dogg
Member
Members
Forum Posts: 113
Member Since:
October 4, 2018
sp_UserOfflineSmall Offline

RetirEd said
Can we really be surprised when Ontario is experiencing a wave of mass golf-cart theft?  

That's the first I am hearing about that. How's the "Rain-Tax" coming along???

June 5, 2024
6:33 pm
RetirEd
Member
Members
Forum Posts: 1049
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline

The golf cart thefts made several national newscasts. I'm not familiar with "rain-tax"; Wikipeida's closest hit was a tax on impermeable property that drains directly into storm surges.

RetirEd

No permission to create posts

Please write your comments in the forum.