Targeted Simplii HISA offer of 4.75% (was 3.00% and 3.85%) ending October 31st 2022 | Page 2 | Simplii Financial | Discussion forum

I was also on a Simplii offer for 2.8%, which expired. I was automatically enrolled in a new 2.8% offer (that I was not even aware.) I had already moved my funds elsewhere.

mustang said
I was thinking-- I wonder if I pass on this one, will I get another next month?
As you folks are saying, good luck figuring that one out!

There's honestly no way to know, it's a crap shoot. My guess is no, then again what do I know. One thing I've learned is to be patient, just when you thought all hope is lost, an offer comes along when you least expected and not necessarily from whom you thought would offer it.

want8tracks said
I did get a surprise 3percent offer a few days ago, which I signed on for, but it doesn't actually help me much. It's on new money only, and most of my loose money that isn't already invested in GIC's at other banks is unfortunately already parked at Simplii.  

Never ever park loose money at Simplii nor Tangerine. Thats rule no.1 !

Norman1 said

want8tracks said
…

Simplii did have an offer that started in November 2019:

2.8% promo interest on new money … (November 1, 2019 - April 30, 2020).

That offer wasn't targeted. One didn't have to wait for an invitation. Anyone could call in to enroll in that offer.  

I may have my memory not completely working, if that was the offer from November 1, 2019 till April 30, 2020, then it was November 1, 2020 till April 30, 2021 that I was expecting one and never got it. But that's two years in a row now where simplii did not have a universal offer on November 1, their anniversary. And I remember that day, November 1, 2020 because on that day, I lost my job for the second time due to new health orders. Extra interest for my savings would have been nice to make right about then.

I finally got the offer from Simplii for 3.0% til Oct 31, the first I've had from them in some years. I did sign up, and also asked for and got a confirmation email of the promo rate.

Of course, with the 1% rate increase today by the BoC, I'm sure this promo rate will be low very soon. For me, HISAs are the way to go for now, not GICs. Once rates level off (when??) I may get some more GICs.

Simplii just updated the current promotional offer today on their HISA, increasing the interest rate from 3.0% to 3.85% retroactive to July 1.

I called and i was told need to re-enroll and i did. CSR was confused oh well

a family member call right after and was told the rate is now 3.85% no re-enrollment needed

i would just call to confirm and re-enroll if needed

and yes retro to July 1

It may be retroactive to July 1st, meaning June 30 balance is Old Balance and earning 0.10% (or whatever the rate was), July 1 to Oct 31 additional balance will earn the new combined rate of 3.85%.

Although I've enrolled for the 3.85% as well, I'd feel more comfortable once they send me a confirmation email.

Saw a new offer pop up when I logged into Simplii tonight for 3.85% from July 1 to October 31, 2022. Do not see a separate forum thread so not sure how new this offer is.

I last logged into my account probably 3 or 4 days ago. Funny enough I rejected a 3% offer for the same time period about a month ago (July 10th).

Here is the text from the pop up offer when I logged in.

Take advantage of 3.85% interest before it's gone and apply today
Offer ends October 31, 2022. Limits apply†
XXXXX,
Make your money do more. Sign up today and start growing your savings with our best rate on your Simplii FinancialTM High Interest Savings Account.
Enjoy a special interest rate of 3.85% on eligible deposits†:
• Select "Sign up" with one click below
• Make an eligible deposit to your savings account
• Watch your savings continue to grow
Don't wait! Sign up now and make an eligible deposit, it's easy!
This offer ends October 31, 2022.
†Limits apply. Check Legal for terms and conditions.

Hide Legal
† Available by invitation only. The special annual interest rate of 3.85% is a combination of promotional and regular annual interest rates payable on deposits made to eligible Simplii Financial High Interest Savings Accounts (“Eligible Savings Accounts”), between July 1, 2022 to October 31, 2022 (the “Offer Period”). Eligible Savings Accounts opened before the Offer Period must be enrolled in the offer by the primary account holder. Eligible Savings Accounts opened during the Offer Period are automatically enrolled in the offer.
For Eligible Savings Accounts opened before the Offer Period that have been enrolled in the offer, promotional interest is calculated on the portion of the applicable account’s average daily closing balance during the Offer Period that exceeds the closing balance as at June 30, 2022 (the “Additional Balance”).
For Eligible Savings Accounts opened during the Offer Period, promotional interest is calculated on the portion of the applicable account’s average daily closing balance from the date the account is opened to the end of the Offer Period (the “New Balance”).
The maximum balance (which includes the Additional Balance and New Balance) that is eligible for promotional interest is $500,000 aggregated across all Eligible Savings Accounts of the primary account holder. Promotional interest will be paid in November 2022 into a single Eligible Savings Account held by the primary account holder that is open and in good standing at the time of payment.
Eligible Savings Accounts will continue to earn regular interest, calculated on the daily closing balance and paid monthly.
The offer is non-transferable and cannot be combined with other promotional rate offers. Promotional interest and regular interest rates are subject to change at any time without notice. Please review the full terms and conditions

bryguy said
Please review the full terms and conditions  

Could someone please post a copy of the Full Terms and Conditions?
When I see stuff like

promotional interest is calculated on the portion of the applicable account’s average daily closing balance during the Offer Period

I am leery about how interest will be calculated. I expect interest to be calculated on a daily basis on the actual account balance. I do not mind if it is paid at the end of the period, but think that funny stuff is happening if I make some withdrawals during the promo period.