Targeted Simplii HISA offer of 4.75% (was 3.00% and 3.85%) ending October 31st 2022 | Page 5 | Simplii Financial | Discussion forum

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Targeted Simplii HISA offer of 4.75% (was 3.00% and 3.85%) ending October 31st 2022
September 10, 2022
6:50 am
dougjp
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COIN said
This is strange. I received no emails and see nothing when I log in. However, I called them and was advised I am already enrolled in the 3.85%. I asked them to confirm with an email but was told that their word over the phone is sufficient.  

Sounds like a 3rd world startup bank to me.

Forces a further waste of time to phone again and demand an e-mail, all because their system and web site effectively don't exist beyond the basics. Its completely unacceptable, IMO, that this bank stands alone for not showing what current interest rate you are getting, anywhere. And on top of that, to refuse an obvious request?

" We may never pass this way again " - Seals & Crofts

September 10, 2022
12:46 pm
COIN
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dougjp said

Sounds like a 3rd world startup bank to me.

Forces a further waste of time to phone again and demand an e-mail, all because their system and web site effectively don't exist beyond the basics. Its completely unacceptable, IMO, that this bank stands alone for not showing what current interest rate you are getting, anywhere. And on top of that, to refuse an obvious request?  

You also don't know if you are actually getting 3.85% until around 15 days after the end of the promotion when they are supposed to make a lump sum catch-up interest payment.

BTW: There was at least one time in the past when they did send an email confirming the interest rate.

September 10, 2022
3:23 pm
mustang
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Our experience has been that, yes, we do get the email, designating the higher promotional rate
However, because they never actually show the rate anywhere I have ever found, online, I always sweat bullets until I actually see the money paid out to us.
They haven't failed us yet-- but I sure don't relish the thought of an "email battle", if something slips up in their system

September 10, 2022
4:11 pm
COIN
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mustang said
However, because they never actually show the rate anywhere I have ever found, online,   

I didn't even know I was already enrolled in the 3.85% until I called to ask why I wasn't offered the 3.85% only to be told I was already enrolled.

I called back again and they said again I am enrolled so I asked what is the maximum limit I can deposit and was told $500,000?

Can someone confirm the $500,000? I trust the members here more than I trust Simplii.

September 10, 2022
5:22 pm
JohnnyCash
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COIN said
Can someone confirm the $500,000? I trust the members here more than I trust Simplii.  

See post 44.

September 22, 2022
7:09 am
agit
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Simplii HISA now @ 4.75%

Link here https://www.simplii.com/en/special-offers/no-fee-chequing-account.html

The special annual interest rate is 4.75% between September 1 and October 31, 2022 and 3.85% for the balance of the offer period

September 22, 2022
7:20 am
HermanH
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Sigh. sf-cry

Q. Do I have to be a new client to get the offer?

A. Yes, both the No Fee Chequing Account and High Interest Savings Account offers are only available to new clients. That means you don’t already have any accounts with us.

https://www.simplii.com/en/special-offers/no-fee-chequing-account.html

September 22, 2022
7:31 am
agit
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I called and was told the offer also applied to client with 3.85% targeted offer but only from Sep 1 to Oct 31. she could be wrong ??? anyone called?

September 22, 2022
10:02 am
norris2
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agit said
I called and was told the offer also applied to client with 3.85% targeted offer but only from Sep 1 to Oct 31. she could be wrong ??? anyone called?  

I was on the original 3% offer, upgraded to the 3.85% in August. So I called in, and she said yes, I'm updated to 4.75% for new money deposited during the "offer period". I asked what is the offer period, she says July 1 - Oct 31. Then I asked what snapshot date they will use for 4.75% vs 3.85%. She says July 1 to August 31st for 3.85% and Sept 1 - Oct 31st you'll earn 4.75%. (Seems weird they'll back-date a higher rate).

Then I asked a third time if the "new money cutoff" for the 4.75% rate is considered July 1st or Sept 1st. She placed me on hold again, and came back and said 4.75% is only for new money Sept 1st and after, but 3.85% for the balance as of end of day Aug 31st. I mentioned that seems different from the 3.85% in August when they didn't move the new money cutoff date, and she responds that they changed the terms this time.

Asked her to send an email with terms, she said they're sending it out, so I'll update if I receive something different. Last time they promised an email I never received anything. I'm not sure what to do, it's like pulling teeth to get a straight answer, then you may need to argue with them later if you're short changed. I may go with the 4.25% NBC instead since she basically said on the recorded call it's for new money after aug 31 only.

September 22, 2022
10:25 am
Patch002
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norris2 said

I was on the original 3% offer, upgraded to the 3.85% in August. So I called in, and she said yes, I'm updated to 4.75% for new money deposited during the "offer period". I asked what is the offer period, she says July 1 - Oct 31. Then I asked what snapshot date they will use for 4.75% vs 3.85%. She says July 1 to August 31st for 3.85% and Sept 1 - Oct 31st you'll earn 4.75%. (Seems weird they'll back-date a higher rate).

Then I asked a third time if the "new money cutoff" for the 4.75% rate is considered July 1st or Sept 1st. She placed me on hold again, and came back and said 4.75% is only for new money Sept 1st and after, but 3.85% for the balance as of end of day Aug 31st. I mentioned that seems different from the 3.85% in August when they didn't move the new money cutoff date, and she responds that they changed the terms this time.

Asked her to send an email with terms, she said they're sending it out, so I'll update if I receive something different. Last time they promised an email I never received anything. I'm not sure what to do, it's like pulling teeth to get a straight answer, then you may need to argue with them later if you're short changed. I may go with the 4.25% NBC instead since she basically said on the recorded call it's for new money after aug 31 only.  

When I look at the website, the 4.75% offer says it's for New Clients only.

FAQ:
Yes, both the No Fee Chequing Account and High Interest Savings Account offers are only available to new clients. That means you don’t already have any accounts with us.

Perhaps SF will realize that it should be for all and make an adjustment.

September 22, 2022
11:38 am
agit
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norris2 said

I was on the original 3% offer, upgraded to the 3.85% in August. So I called in, and she said yes, I'm updated to 4.75% for new money deposited during the "offer period". I asked what is the offer period, she says July 1 - Oct 31. Then I asked what snapshot date they will use for 4.75% vs 3.85%. She says July 1 to August 31st for 3.85% and Sept 1 - Oct 31st you'll earn 4.75%. (Seems weird they'll back-date a higher rate).

Then I asked a third time if the "new money cutoff" for the 4.75% rate is considered July 1st or Sept 1st. She placed me on hold again, and came back and said 4.75% is only for new money Sept 1st and after, but 3.85% for the balance as of end of day Aug 31st. I mentioned that seems different from the 3.85% in August when they didn't move the new money cutoff date, and she responds that they changed the terms this time.

Asked her to send an email with terms, she said they're sending it out, so I'll update if I receive something different. Last time they promised an email I never received anything. I'm not sure what to do, it's like pulling teeth to get a straight answer, then you may need to argue with them later if you're short changed. I may go with the 4.25% NBC instead since she basically said on the recorded call it's for new money after aug 31 only.  

Yup she told me the same. but the 4.75% on new money after Sept 1 is that mean new money over and above Aug 31 balance ? 500K limit however the 4.75% terms is 1,000 000..

September 22, 2022
12:20 pm
agit
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4.75% applied to client with 3.85% targeted offer

I would call to make sure

September 23, 2022
9:30 am
karenkautumn
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i got different info, the customer service rep told me for clients who got targeted 3.85% offer the limit does not change still 500k, she also said new funds from jul 1 qualifies for the 4.75% sep-oct, the rep may not give me right info, the new condition email does not have any new info still shows 3.85%. If anyone contact them or receive new condition email please share your experience, thank you. because of the inconsistent info, i feel i may not get 4.75% for the new funds since july 1st.

September 23, 2022
9:43 am
agit
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karenkautumn said
i got different info, the customer service rep told me for clients who got targeted 3.85% offer the limit does not change still 500k, she also said new funds from jul 1 qualifies for the 4.75% sep-oct, the rep may not give me right info, the new condition email does not have any new info still shows 3.85%. If anyone contact them or receive new condition email please share your experience, thank you. because of the inconsistent info, i feel i may not get 4.75% for the new funds since july 1st.  

I called twice and spoke with a MGR

- Offer applied to client with 3.00% and 3.85% offer
- 500k Max
- All terms and condition remain the same except the rate change to 4.75% from
Sep 1 to Oct 31
- New funds from Jul 1

basically the same info

September 23, 2022
9:56 am
karenkautumn
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agit said

I called twice and spoke with a MGR

- Offer applied to client with 3.00% and 3.85% offer
- 500k Max
- All terms and condition remain the same except the rate change to 4.75% from
Sep 1 to Oct 31
- New funds from Jul 1

basically the same info  

thanks a lot for sharing, I saw others got 3% 3.85% targeted offer mentioned rep told them 4.75% only applies to new funds from sep 1st. have you got new condition email? thanks.

September 23, 2022
10:09 am
GR
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Someone who said she was a manager at Simplii informed me that the new rate of 4.75% applies, effective September 1, 2022, to all funds deposited that were originally eligible for the 3.85% promo, even if deposited before Sept. 1; in addition to all new money deposited starting Sept. 1, 2022,

(I am not responsible for the accuracy of info conveyed to me. She claimed to be unable to email me confirmation.)

September 23, 2022
10:25 am
Bill
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Same confirmed for me by phone agent, everybody on previous offer will get 4.75% during September and October on their balance higher than June 30 balance. They're going to have to make a big payout November 15 or so.

September 23, 2022
10:31 am
karenkautumn
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Thanks for sharing, did manager/rep confirmed for clients got the 3.85% target offer, limit does not change, still up to 500k for 4.75% sep-oct?

September 23, 2022
10:39 am
Bill
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Don't know for sure, she read me the new T&C but I was only half-listening, don't remember a reference to a new limit so I'd assume it's the same though I can't 100% confirm.

Starnge way of doing business, you're giving people 4.75% most of whom probably think they're still getting 3%.

September 23, 2022
11:43 am
agit
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karenkautumn said
Thanks for sharing, did manager/rep confirmed for clients got the 3.85% target offer, limit does not change, still up to 500k for 4.75% sep-oct?  

I asked the MGR about the limit "still 500k max." All terms and condition remain the same except the rate change to 4.75% from Sep 1 to Oct 31.

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