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Email this12:05 pm
April 15, 2024
Offline
Just an FYI, I was checking my credit score today and noticed that Simplii pulled two hard credit inquires on me, one when I applied for a promo HISA, and another when it ended, three months apart. 
I've open many many banks accounts over the years and I've never encountered this. During the account opening process, they didn't tell me it would be a hard credit hit, let alone two of them. This is not required in any way, shape or form for an HISA. By doing this, they are trying to determine what credit services are appropriate to try to sell you and what rate to charge you, even if you have no intention of ever borrowing $ from them. You pay for that in the form of your credit score being reduced. This shouldn't be allowed but here we are.
9:39 am
October 17, 2018
Offline
A few years ago I tried to get a GIC there. Can't recall the details but I had to speak with a rep and was surprised when she told me I had to allow them to do a (soft ?) credit check in order to get the GIC although putting the same amount into my savings account for a promo was fine. I had already been a client for many years at that point and did not agree so could not proceed. Since that time i rarely leave money in my accounts unless they have a promo that suits me, and purchasing a GIC from them is no longer even considered.
10:14 am
April 6, 2013
Online
Sounds like the rep was lying to get you to open an investment account that can hold GIC's and mutual funds.
A TD rep tried that with me. I recognized the info he was asking for was for a know-your-client form for an investment account. I told him I'm not interested in mutual funds and there is no requirement for a suitability determination to place funds in a cashable GIC.
