TORONTO, April 3, 2020  – Simplii Financial today announced a new initiative in collaboration with the Government of Canada to offer registration for Canada Revenue Agency’s (CRA) direct deposit. This will allow clients to receive benefit payments, including the new Canada Emergency Response Benefit (CERB) in a convenient and secure way.

Clients are encouraged to sign up for CRA direct deposit through their Simplii account online. Once signed up for direct deposit, individuals will receive CRA payments such as benefits, credits and refunds directly to their banking account, and will no longer need to receive cheques.

“The Simplii team remains committed to supporting our clients in this challenging time,” said Vineet Malhotra, Head of Simplii Financial. “Direct deposit for CRA payments is the latest in a series of measures we’ve introduced including payment deferrals on mortgages and other credit products."

Starting on April 6, Canadians can apply for the CERB through the CRA. Individuals set up with direct deposit will receive all SIN-based benefit payments directly to their banking account quickly and securely. Payments can be verified by checking your bank statement or logging into CRA’s My Account.

Clients who are already registered for direct deposit can update their account information through the CRA website.

For more information related to the support Simplii is offering during this challenging time, visit the Simplii COVID-19 site. For more information on the CRA’s direct deposit, visit the CRA direct depositOpens a new window in your browser. webpage.

About Simplii Financial™

About Simplii Financial™ Simplii Financial is committed to delivering simple, straightforward banking. With a fully mobile experience, nearly 1.8 million clients enjoy no-fee daily banking with no minimum balance and high interest savings rates. Independently named by Forbes as one of the World’s Best Banks in Canada, Simplii delivers a simple and easy way to bank with 24/7 access to online, mobile and telephone banking as well as access to one of the largest national ABM networks through CIBC. For more information about Simplii Financial please visit www.simplii.com or by following on Twitter @SimpliiFinOpens a new window in your browser., Instagram @SimpliiFinOpens a new window in your browser. or on FacebookOpens a new window in your browser..

For further information: Kathryn Lawler, 416-242-1943, kathryn.lawler@cibc.com