Simplii Financial is an online banking provider and the digital banking division of the Canadian Imperial Bank of Commerce (CIBC). Simplii offers a competitive no-fee chequing account and high interest savings account, as well as student and newcomer banking products. In addition, Simplii offers lending products including loans, lines of credit and mortgages, as well as investment products such as GICs, TFSAs and mutual fund accounts.
Pros and cons of Simplii Financial
Pros
Easily open an account online
Earn interest on your savings
Welcome bonus offered with chequing and savings accounts
No transaction or e-Transfer fees
No monthly fees for chequing and savings accounts
Mobile app and online banking platform available
Can open an account online before arriving in Canada
Earn 6% interest for 5 months on your first Simplii Financial High Interest Savings Account.
Get up to $300 off your first Global Money Transfer with our code GMTEVENT. The discount you receive will depend on the amount you're sending. For cash pickups instead, earn $50 using code CASH. Limits and regulations apply.
Earn $400 on your first Simplii No Fee Chequing Account. You'll need to set up a direct deposit of at least $100 for 3 months to receive the welcome bonus.
Simplii Financial is a trademark and division of CIBC. Banking products and services branded Simplii Financial are offered by CIBC.
Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog.
Earn a little interest without limiting your transactions. But don’t expect it to replace your high-interest savings account.
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