Targeted Simplii HISA offer of 5% Dec 1, 2022 to Apr 30, 2023 | Page 5 | Simplii Financial | Discussion forum

HermanH said
Did you transfer after 2400h Eastern Time Zone?

I got caught by CIBC, once. I made a deposit at 2300h local time, but it was already 0100h ET. So, my deposit was listed as next day and I was thus overdrawn.  

TNG transfers usually take place very early AM. At least by my EST clock. So, generally next BANKING day at the earliest is normal.

Most of us transfer days before offer expiry in case new offer comes immediately following (rare) and is for new $ only.

After triggering a transfer, check the specific account's transactions to confirm the actual date of the transfer.

Also, on offers, it's best to check the wording carefully ...

1. New offer or extension of existing order?

2. New money only?

cgouimet said

TNG transfers usually take place very early AM. At least by my EST clock. So, generally next BANKING day at the earliest is normal.

Most of us transfer days before offer expiry in case new offer comes immediately following (rare) and is for new $ only.

After triggering a transfer, check the specific account's transactions to confirm the actual date of the transfer.

Also, on offers, it's best to check the wording carefully ...

1. New offer or extension of existing order?

2. New money only?  

Yes, I got caught on this. Entered transfer pull from TNG on April 28-- but didn't get posted through until May 1 (actually, shows May 2 on Simplii site). So, I should have initiated that transfer no later than April 27, to make sure April 30 balance was zero at Simplii
Mind you, haven't received the new offer from Simplii anyway, so all academic at this point.
Although, have experienced where they didn't extend the new offer until two weeks later
Go figure

mustang said

Yes, I got caught on this. Entered transfer pull from TNG on April 28-- but didn't get posted through until May 1 (actually, shows May 2 on Simplii site). So, I should have initiated that transfer no later than April 27, to make sure April 30 balance was zero at Simplii
Mind you, haven't received the new offer from Simplii anyway, so all academic at this point.
Although, have experienced where they didn't extend the new offer until two weeks later
Go figure  

We had some good GIC's a few years back at Simplii but never received any HISA offers over 5 years. At some point, I developed a CIBC allergy for which the best cure I could find was exiting CIBC and Simplii. I did just that. No hives and anxiety since ... :):)

HermanH said
Did you transfer after 2400h Eastern Time Zone?

I got caught by CIBC, once. I made a deposit at 2300h local time, but it was already 0100h ET. So, my deposit was listed as next day and I was thus overdrawn.  

Yes, 23:30 EST

HermanH said
Did you transfer after 2400h Eastern Time Zone?

I got caught by CIBC, once. I made a deposit at 2300h local time, but it was already 0100h ET. So, my deposit was listed as next day and I was thus overdrawn.

GreatWhiteNorth said

Yes, 23:30 EST

At 23:30 EST on a Sunday, it wouldn't have matter at most banks.

Sunday isn't a busniess day for most financial institutions. Transactions submitted during non-business days are effective next business day.

As well, most banks close their books for a day way before midnight. I think RBC, for example, closes a day around 6 pm. A transaction submitted as late as 11:30 pm on a business day would be effective next business day as well.

It still would not matter as the close of a business day for most financial institutions is not as late as 11:59:59.999 pm.

If one is trying to pull money in from another institution, the last Payments Canada cutoff for the exchange of cheques, preauthorized debits, and direct deposits is 9 pm Eastern time.

Norman1 said
It still would not matter as the close of a business day for most financial institutions is not as late as 11:59:59.999 pm.

If one is trying to pull money in from another institution, the last Payments Canada cutoff for the exchange of cheques, preauthorized debits, and direct deposits is 9 pm Eastern time.  

I was trying to deposit money to CIBC via a CIBC ATM.

mordko said
Another offer from Simplii. Identical terms. New money. 5%. Till Aug 31st.  

I guess this thread should be renamed, or perhaps start a new one? Especially seeing the separate TFSA thread.

My wife got the offer via a pop up when logging in this morning. She accepted, and now what - did you subsequently get an e-mail confirming this?

The reason I ask is she has two savings accounts, hers and a joint account with me. Our last time with a Simplii promo was 3 years ago, and I seem to remember a subsequent e-mail then stating the offer period, rate, AND the Starting balance.

The latter number is important to confirm both accounts will be included, because crystal clear confirmations from Simplii seldom come without a whole lot of work, if at all. And then there's the web site too......

dougjp said
The reason I ask is she has two savings accounts, hers and a joint account with me. Our last time with a Simplii promo was 3 years ago, and I seem to remember a subsequent e-mail then stating the offer period, rate, AND the Starting balance.

The latter number is important to confirm both accounts will be included, because crystal clear confirmations from Simplii seldom come without a whole lot of work, if at all. And then there's the web site too......   

The joint account will be included if your wife is the primary holder i.e. look at bank statement and her name must be first followed by yours. She could also confirm she is primary by calling but this is what I was told when I inquired about a joint account.

Thanks mordko and Frugal Lady. She got an e-mail confirmation late yesterday that the rate is in effect. No details of which accounts are included or the starting balance (s?) beyond which the 5% would be paid.

While I believe from the previous rate offer years ago, that she must be the primary holder, the good old Simplii website comes through in its usual fashion of non information, yet again! Meaning, when I login to Simplii and view the joint account, my name shows up first. When my wife logs in and views that same account, her name shows up first. Further details? Never.

So after seeing the obligatory "do not respond to this e-mail", off I go trying to see how she CAN respond to this e-mail/get basic info ! Forgetaboutit. Luckily, I printed out correspondence from 3 years ago, and there is a follow up e-mail: follow-up@simplii.com. I wonder if she will get a response or if it still exists. She "doesn't do" holding on the phone, all the while being told "your call is important to us"!