When do you receive the promotional interest with the promotional interest campaign? | Page 2 | Simplii Financial | Discussion forum

Thanks Loonie, Norman1 for the intel on signing up with Hubert. 🙂
I guess my main concern, or my spouce's to be specific, is the level of risk, that an out of province, smaller (vs Meridian for example) CU might go bust in the economic tsunami, that may, or will, ensue in the months,years ahead ?

I guess if the seasoned members of this forum, that deal with Hubert, are not concerned, then neither should I be. In any case, I'd only be moving at most 10% of our Holdings to Hubert, but that's still an amount I don't want to put at unnecessary risk.

Also got my Simplii interest bonus payout yesterday. Seems like it paid out at 2.8% throughout, but too lazy to do the detailed calc.

mmlt said

Hubert is a class act. Good rates and the best customer service. I'm in BC and have no issues dealing with them.
I don't chase the promotional interest rate deals. More trouble than they're worth to me.
I had unsavory dealings with pc financial about 10 years ago. Never again name change or no.  

You are correct. Don't chase the promotional interest deals. Not worth the bother. They are trying to entice new customers. In the last couple years I once again started buying GICS. I was not sure where to purchase since there are so many options. I purchased short term GICS at 5 different FI. Terms 120 days, 9 months, 1 year, and 18 month. All $1,000 except 120 day term. Above 364 days may be considered long term depending on FI. The 18 month matured last month. All FI were excellent. I plan at buying at one FI. Simple with two statements a year. Having fun.

That was expected. Separate deposits were only for registered accounts.

This is from the terms of the offer:

Promotional Interest will be paid in May 2020 into a single Eligible Savings Account held by the primary account holder and separately into the RRSP Account or TFSA where it was earned. Promotional Interest will not be paid into any Eligible Savings Account unless at least one of the primary account holder’s Eligible Savings Accounts is active and in good standing as at April 30, 2020, or into any RRSP Account or TFSA that is not active and in good standing as at April 30, 2020.

If a primary account holder holds more than one Eligible Savings Account, Promotional Interest will be paid to an Eligible Savings Account in the following sequence: (i) to the High Interest Savings Account with the most recent date of activity; (ii) to the Savings Account with the most recent date of activity.

Jim Sherat said
Thanks Loonie, Norman1 for the intel on signing up with Hubert. 🙂
I guess my main concern, or my spouce's to be specific, is the level of risk, that an out of province, smaller (vs Meridian for example) CU might go bust in the economic tsunami, that may, or will, ensue in the months,years ahead ?

I guess if the seasoned members of this forum, that deal with Hubert, are not concerned, then neither should I be. In any case, I'd only be moving at most 10% of our Holdings to Hubert, but that's still an amount I don't want to put at unnecessary risk.

Also got my Simplii interest bonus payout yesterday. Seems like it paid out at 2.8% throughout, but too lazy to do the detailed calc.  

I am in Ontario. My father found a Manitoba CU. He saved with them for years before his passing. I connected with them last year. Very pleased with them. I found that all FI have competitive rates and good service. It depends on each persons unique priorities.

I deal with a different CC in Manitoba. I am comfortable with their service and deposit insurance from DGCM. Several options available.

GreatWhiteNorth, I've always received mine the same day as others on here have indicated, my impression/recollection is it's usually paid out on one day. Do you have an email or other document confirming you were on the promo? If so, there's still lots of time to the end of the month.