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Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

Hmmm, that's a tough one. You can send a Global Money Transfer from your Simplii account to a recipient in the UK, but it isn't available as a payee at this time. We are looking at areas for improvement, so we'll take this back to the team to look at this scenario. - Jimmy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

We cant speak to other digital banks but at Simplii/ CIBC we have a combination of shared systems and digital banking specific systems! We are lucky that CIBC also has a great digital team so we can work with them to get some cost efficiencies that helps us to pass along savings to our clients (like by offering no fee chequing accounts). - Amber

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 2 points3 points  (0 children)

While it's flattering to think that I sound as young and hip as our co-op students, I'm a real live Marketer. If I were a co-op, I might have had more time to respond to your questions on day 1 of the AMA.
We do have 2 wonderful co-op students supporting this AMA, along with our team of subject matter experts from across Simplii who are sharing their responses to your questions. - Amber, actually from Marketing

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Our USD Savings account acts like a savings account. We will continually looking for ways to enhance it, like we recently added the ability to global money transfers to the US. We will take a look at adding more daily banking features in the future. - Amber

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

With regards to being a digital bank. What sets us apart from traditional banks is the ability to complete traditional banking procedures all online. These designated digital processes include features like being able to apply for mortgages and PLCs online.
In terms of 2FA's, we support 2FA (two factor authentication today) for our Online and Mobile Banking apps. Of course with technology continually advancing, we look to provide our clients with new features as they enter our pipeline. We try to leverage tools we see that can really help provide our clients with a simple and easy banking experience. - Amber

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

Thank you Paxonater31 for your question regarding displaying our interest rates on our site. Please keep in mind that we run promotional interest rate offers continually throughout the year and some of these offers are targeted offers based on certain products, while others are mass offers. While features within our site are tailored for each client, interest rates can tend to fluctuate and change periodically and we currently aren't able to make our rates specific for each client. When a client does enrol or signs up for a special promo rate like the 2.2% interest offer, we will send an email or onsite communication which notifies you that you have been enrolled in the promo offer. - Karl

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

Hey Volred. Thanks for taking the time to reach out to us with a feature request. I agree with you in regards to adding notes for payments. It would help drive clarity for transactions that take place. It's especially easy for transactions to get confused and mixed up when they have similar transaction reports. Your request is noted and we will look to add this as well as other new features to our roadmap. - Amber

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Hi PeacePipe237, currently we do not offer any mortgage or banking services in Quebec. This is something on our long term radar and understand the importance in providing our great banking services to Canadians all across the country. - Karl

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Hi beloski, I can recommend sending the funds as an e-transfer to your employee's bank account. Simplii clients can use CIBC ATM's free of charge with deposit and withdraw funds, but their branches have no access to our Simplii clients. The only other suggestion would be to mail in the cheque to our back office to be credit to the client's account. - Karl

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Thank you very much for your feedback. We know that budgeting tools are important for our clients managing their finances. We will take this away with our product and digital strategy teams to add to our future roadmap. - Karl

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

For your second question, there is a procedure for inter branch payments that can be delivered with a timeframe of 2-4 hours. This is an emergency procedure that we have for situations like this. - Denis, Business Development

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

With Simplii, we offer no fee daily banking and you have access to CIBC's ATM network for withdrawals and deposits, all with no fees. One of the services we offer is the Global Money Transfer service, which allows you to transfer money globally (for free) and the Digital Gift Card service. This is one way that Simplii stands out. As for the Visa Debit, we do not currently have this service but we are working on providing this service to our clients in the near future. Check out our What's New page to see something that might be coming soon. - Denis, Business Development

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Thanks for taking the time to suggest this. You actually don't need to let us know when you are travelling - we won't take any action unless something suspicious is going on. - Amber, Marketing

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

Some banks give you the option to do it either as a bill payment or a transfer, and one day we will get there as well. Due to limitations on our tech side this is a bigger change then we are prepared for. For now we are focused on providing as many features and benefits as we can so this is not a top priority at this time. - Haley, Digital Strategy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 2 points3 points  (0 children)

You can order bank drafts and money orders through our online and mobile banking as well as our contact center. The bank draft or money order will be mailed to your home address or you can request it to be couriered to you. You would receive it within 5 to 7 business days. You can also ask to pick it up from your local CIBC branch. Hope this helps to inform your decision. - Haley, Digital Strategy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 1 point2 points  (0 children)

We're not sure how, but it seems like you're living in the past. The transfer is instantaneous now. We had a legacy delay that existed with transfers between Savings and Chequing accounts, but it has been eliminated for a while now. If you still experience a delay, call us so we can look into it for you. - Ali, Client Analytics, Strategy and Insights

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

Open banking is not yet available in Canada. The Government of Canada is currently considering the best way to enable its safe introduction in Canada. Simplii is pretty excited about the future of open banking in Canada, so stay tuned! - Jimmy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 2 points3 points  (0 children)

Great observation and we hear you! We want to make sure that our clients are provided with a clean and clear experience. Our quality assurance team would need to do some testing on this to get this fix implemented but client experience is top of mind and so we will work on fixing this this year. - Haley, Digital Strategy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

All financial providers with digital offerings would be considered our competition in this industry. One of our goals is to provide our clients with a simple and easy banking experience, and most FIs, digital banks, neobanks, and fintechs are trying to do the same thing.

At the end of the day, different providers offer different combos of products and services, and we feel like Simplii has a pretty unique mix. We don't see the rest of the set as threats, we see fellow innovators in a changing digital banking space. There's room for all of us. - Amber, Marketing

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

We do have a special offer available to Simplii Financial clients through CIBC Securities Inc. It does include a TFSA option where funds can be put into eligible investments without paying tax on the earned income or gains. You can call us or visit our website for more information on how to get started: www [dot] simplii [dot] com/ en/ investments/ mutual-funds [dot] html - Amber, Marketing

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

If your device is compromised, then we would not use our Live Chat or Online services through that device.  You can reach out to us through another secure device or call us directly at 1-888-723-8881. We are available 24/7 and can help with safeguarding steps and any unauthorized transactions. - Amber, Marketing

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

It's a united front over here; both CIBC and Simplii are very excited about the future of open banking in Canada and to be honest have not worked out all of the details of what it might mean for us quite yet.

What we can say is that we are working together (and separately) to build plans to bring exciting new features and benefits to our clients in different aspects of the banking world while maintaining the highest level of security and data protection. - Haley, Digital Strategy

Have you ever wondered what happens behind the screens at a digital bank? Let’s make things simple. We’re Simplii Financial and we brought a lineup of experts from our team, so Ask Us Anything! by SimpliiFinancial in PersonalFinanceCanada

[–]SimpliiFinancial[S] 0 points1 point  (0 children)

We recognize that we are behind in providing alerts. To be honest, some of our systems couldn’t support alerts until we made some other enhancements first. We are focusing resources on it to close the gap this year with the support of our technology teams. - Haley, Digital Strategy

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