Simplii No Fee Chequing Account

Overview

Simplii's chequing account provides unlimited everyday transactions and access to supported CIBC ATMs without a recurring monthly account fee.

Its Debit Mastercard uses Interac for Canadian in-store purchases and Mastercard for supported online and international purchases. Simplii has no retail branches, but supports Canadian-dollar cheque writing, mobile cheque deposit, and joint accounts. Banking service is unavailable in Quebec.

The account pays tiered interest, but this catalog does not display a numeric rate until it can be reliably verified from the official rate source.

Incoming and outgoing wire transfers are supported for a fee. Although CIBC provides Simplii Financial banking services, Simplii accounts cannot be serviced at CIBC banking centres.

Features and access

Monthly fees and transactions

Monthly fee: $0The normal recurring monthly fee is $0.
Monthly transactions: UnlimitedUnlimited debit purchases, bill payments, and withdrawals.

Transfers

Monthly Interac e-Transfers: UnlimitedNo fee to send, request, or fulfil a request; amount limits and a stop-payment fee apply.

Card and payments

Payment card: YesSimplii Financial Debit Mastercard uses Interac for Canadian in-store purchases and Mastercard for supported online and international purchases.

Cash and branch access

Cash deposits: Most CIBC ATMsMost CIBC ATMs in Canada accept physical-cash deposits into Simplii accounts. CIBC banking centres do not service Simplii accounts.
Cash withdrawals: CIBC ATMsMore than 3,400 supported CIBC ATMs in Canada provide free Simplii cash withdrawals; daily limits apply and other networks may charge fees.
Branch access: NoSimplii is a direct-banking service without Simplii retail branches.

Cheques and ownership

Cheque writing: YesCustomers can order and write cheques; current cheque-order pricing was not established.
Cheque deposits: YesEligible Canadian-dollar cheques can be deposited through mobile banking or deposit-taking CIBC ATMs.
Joint account: YesJoint accounts are supported; the holder limit was not confirmed during verification.

Interest

Interest rate: See detailsThe account uses marginal balance tiers, but the official rate page did not expose reliable numeric rates during verification.

Deposit protection

Eligible balances are CIBC deposits and aggregate with other eligible CIBC deposits held in the same CDIC category.