† The following terms and conditions explain in detail how you can earn a special annual interest rate of 2.20% on a new Simplii Financial™ High Interest Savings Accounts (“HISA”) if you are a New Simplii Client (the “HISA offer”).
1. Offer Period
This HISA Offer begins on July 1, 2021 and ends on October 31, 2021 (the “Offer Period”).
To be eligible for this HISA Offer, you must have no prior relationship with Simplii Financial before the beginning of the Offer Period (a “New Simplii Client”). For joint HISAs, the HISA may be eligible to earn promotional interest if the primary accountholder is a New Simplii Client.
If you are a New Simplii Client and you open a HISA during the Offer Period as the primary accountholder, you may be eligible to earn promotional interest from the date your HISA is opened until October 31, 2021 (subject to certain restrictions; see below) (“Eligible HISA”). Eligible HISAs are automatically enrolled in the HISA Offer. New Simplii Clients may open more than one Eligible HISA during the Offer Period.
3. How Interest is Calculated and Paid
The special annual interest rate of 2.20% is a combination of the regular annual interest rate set by Simplii Financial payable on a HISA balance (“Regular Interest”), plus the promotional annual interest rate (“Promotional Interest”) that is calculated at the end of the Offer Period on the New Balance (as defined below).
Regular Interest is calculated daily at the current rate on each day’s full closing balance and paid monthly. Promotional Interest is calculated at the Promotional Interest rate on the average daily closing balance of each of the New Simplii Client’s Eligible HISAs, and aggregated across all such Eligible HISAs, from the date the HISA is opened to the end of the Offer Period (the “New Balance”). Promotional Interest will only apply on up to an aggregate maximum balance of $500,000. Promotional Interest will be paid in November 2021 into a single Eligible HISA held by the primary accountholder.
Regular Interest rates and Promotional Interest rates quoted are annual. Regular and Promotional Interest rates may change at any time without prior notice. Check our current regular rates. Any change to the Regular Interest rate will result in a corresponding change to the Promotional Interest rate so that the overall combined annual interest rate of 2.20% will remain the same during the Offer Period.
Additional terms, conditions, and limitations apply to the opening of and making deposits into Eligible HISAs. Individuals must meet the criteria set by Simplii Financial to open or hold an Eligible HISA to qualify for the HISA Offer. Ask for details.
The HISA Offer is non-transferable and cannot be combined with any other promotional savings offers unless otherwise indicated. Promotional Interest cannot be substituted or transferred to a third party. Simplii Financial reserves the right to cancel or change the terms of the HISA Offer at any time, for any reason, without notice and revoke the HISA Offer for any customer who appears to be manipulating or abusing the HISA Offer, or is engaged in any suspicious/fraudulent activity. The HISA Offer is subject to the terms and conditions of the Simplii Financial Products and Services Agreement.
‡ The Simplii Financial™ No Fee Chequing Account $200 offer (the “Offer”) begins on November 1, 2020 at 12:01 am (ET) and ends on October 31, 2021 at 11:59 pm (ET) (the “Offer Period”). The Offer consists of a $200 cash reward (the “Cash Reward”) to qualifying primary account holders for opening and using a new Simplii Financial™ No Fee Chequing Account (the “New Account”) and complying with the following requirements.
This Offer is open only to Canadian residents who:
(i) have reached the age of majority in their province of residence; and
(ii) have no prior banking relationship with Simplii Financial prior to the beginning of the Offer Period. This Offer can be combined with all other offers unless otherwise indicated. Individuals who meet the foregoing eligibility requirements and otherwise comply with these Terms are referred to as “Eligible Client(s)”.
2. Offer Requirements
To qualify for the Offer and receive the Cash Reward, an Eligible Client must:
(i) open a New Account as the primary account holder during the Offer Period;
(ii) within 120 days from the date the New Account is opened, set up one or more Eligible Recurring Direct Deposits totaling at least $100 of deposits per month into the New Account; and
(iii) have such Eligible Recurring Direct Deposit(s) credited to the New Account for at least three (3) consecutive months within the above 120-day time period.
“Eligible Recurring Direct Deposits” Most automated and recurring direct deposits are eligible. Examples of common recurring direct deposits include: payroll, pension direct deposits, old age security, disability payments, and governmental deposits, such as employment insurance. For further details and to confirm whether an automated and recurring direct deposit qualifies for the Offer, consult with a Simplii Financial representative.
3. Payment of Cash Reward
If an Eligible Client qualifies to receive the Cash Reward, the Cash Reward will be directly deposited to the New Account (which must remain active and in good standing at the time the Cash Reward is deposited) in the fifth month following the month the New Account is opened. For example, a qualifying Eligible Client who opened a New Account in November 2020 will receive the Cash Reward in April 2021.
If a qualifying Eligible Client has more than one New Account that is active and in good standing at the time the Cash Reward is to be deposited, the Cash Reward will be paid into the New Account with the most recent transaction date, regardless of whether any of the accounts are joint accounts.
4. Additional Limitations and Conditions
The Cash Reward must be accepted as awarded and is not transferable or assignable. No Cash Reward substitutions will be permitted. Limit of one Cash Reward per Eligible Client no matter how many New Accounts are opened. For joint accounts, only one Cash Reward is available per Account. The recipient of the Cash Reward is solely responsible for any tax consequences associated with their receipt thereof.
The Offer is subject to the terms and conditions of the Simplii Financial Products and Services Agreement. Simplii Financial reserves the right to cancel or change the terms of the Offer at any time without notice, for any reason, and to revoke the Offer from any customer who appears to be manipulating or abusing the Offer or is engaged in any suspicious/fraudulent activity.
In the event of any discrepancy or inconsistency between the terms and conditions as provided in these Terms and disclosures or other statements contained in any Offer-related materials, including, but not limited to television, print or online advertising, the terms and conditions of these Terms shall prevail, govern and control to the fullest extent permitted by law.
◇ Based on fees for unlimited transaction chequing accounts offered by 5 major Canadian banks as of June 2021.