No Fee Chequing Account | Simplii Financial

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Benefits and features

It's simple. With a no-fee chequing account, you get free daily banking.

Life’s always busy and you work hard every day for your money — it’s time for your bank account to do the same.

No monthly fees with no minimum balance

Free daily banking: unlimited debit purchases, bill payments & withdrawals

Send money for free with Interac e-Transfer^®

Free access to over 3,400 CIBC ATMs across Canada

New clients can earn up to $200 in cash*. Here's how:

Open a new No Fee Chequing Account before January 31, 2019.

Get $100 when you set up and receive two eligible payroll or pension direct deposits to your No Fee Chequing Account.

Want more? Of course you do.

Complete one or more of the following activities for up to a maximum of $100. All activities must be completed within 3 months following the month your No Fee Chequing Account is opened. Other terms and conditions apply.

Get $25 each time you set up and complete a recurring eligible pre-authorized bill payment to a qualifying payee.

Get $25 when you add your Simplii debit card to Apple Pay^®, Samsung Pay^® or Google Pay^TM.

Get $25 if you register for Interac e-Transfer Autodeposit.

More benefits and features

Direct Payroll and Pension Deposit
Have your cheque deposited directly into your Simplii account and have access to your money right away. To download your direct deposit form, sign in to Online Banking and select "More Services".

Overdraft Protection
You can add Overdraft Protection up to $5000, to your account to help you with unexpected expenses. If you use it, bring your account to a positive balance for one full business day per calendar month. You’ll only be charged when you use the service.

Pre-authorized Bill Payments
Never miss a payment. Set up automatic payments and pay your bills on time, every time. You can authorize billing companies to take payments when they’re due. To download your Automatic Payments form, sign in to Online Banking and select "More Services".

Account to Account Transfers
Make transferring money between accounts a breeze. Set up automatic transfers through your online banking, follow the steps, and you'll be on your way.

Chequing Account Interest Rates

On the portion of the balance between:	Annual Rate (%)
$0.00 - $1,000.00	0.05%
$1,000.01 - $5,000.00	0.10%
$5,000.01 - $10,000.00	0.15%
$10,000.01 - $25,000.00	0.15%
$25,000.01 and up	0.50%

Interest is calculated by multiplying the daily interest rate for each tier by the portion of the daily closing balance in that tier.

Rates subject to change without prior notice.

Overdraft Interest Rate

Daily Balance	Annual Rate (%)
On all overdraft balances	19.00%

A monthly charge will apply when you use this service, in addition to a fixed interest rate on overdraft balances.

Sometimes you need more than day-to-day banking. Check out our Costs for special requests and additional items in the Products and Services Agreement, to find what you need.

Have questions?

Top FAQs

Call us at 1-888-236-6398

Email us at talktous@simplii.com

Simplii Financial is a division of CIBC, a CDIC member

Fees apply to withdraw from ATMs outside of Canada.

*The up to $200 Cash Reward Offer (the “Offer”) begins on September 17, 2018, at 12:01 am (ET) and continues until January 31, 2019, at 11:59 pm (ET) (the “Offer Period”). “Eligible Accounts” are Simplii Financial^TM No Fee Chequing Accounts opened during the Offer Period. “Eligible Customers” are customers who have no existing banking relationship with Simplii and open an Eligible Account as the primary account holder. Each Eligible Customer may receive up to a $200 cash reward if they complete one or more of the qualifying transactions set out in Parts 1 and 2 within the 3 months following the month the first Eligible Account was opened:

Part 1 - Receive $100

Set up a payroll or pension direct deposit into an Eligible Account and complete 2 payroll or pension direct deposit transactions to receive a $100 cash reward per Eligible Customer across all Eligible Accounts.

Part 2 - Receive up to a maximum of $100 by completing one or more of the following activities/transactions:

Set up and complete one or more eligible Automatic Bill Payments and recurring online/mobile Pay Bills from an Eligible Account (a “Transaction”) and receive $25 per Transaction. Minimum transaction amount of $10 per Transaction. The following are eligible Automatic Bill Payments and recurring online/mobile Pay Bills:
1. Utility bills
2. Monthly payment lines, loans, mortgages, insurance, credit cards
3. Lease/rent
4. Membership fees
5. Property tax
6. Income tax
7. Childcare fees
Register the Simplii Financial bank card that is linked to an Eligible Account for Mobile Wallet through either Apple Pay^®, Google Pay^TMor Samsung Pay^® to receive $25. Cash reward is limited to $25 per Eligible Customer across all Eligible Accounts.
Register for Interac e-Transfer^® Autodeposit on Simplii Financial online banking or mobile app to receive $25. Cash reward is limited to $25 per Eligible Customer across all Eligible Accounts.

All qualifying Eligible Customers will receive the cash reward(s) into an Eligible Account that is active and in good standing, in the 4th month following the month the first Eligible Account was opened. In the event the Eligible Customer has more than one Eligible Account, the cash reward will be paid into the Eligible Account with the most recent transaction date.

The Offer is non-transferable and cannot be combined with any other offers. The recipient of this award is solely responsible for any tax consequences associated with their receipt of the cash. Offer open only to Canadian residents who have reached the age of majority.

Simplii Financial reserves the right to cancel or change the terms of the Offer at any time, for any reason, and to revoke the Offer for any customer who appears to be manipulating or abusing the Offer, or is engaged in any suspicious/fraudulent activity. The Offer is subject to the terms and conditions of the Products and Services Agreement.

“SIMPLII FINANCIAL” and the SIMPLII FINANCIAL DESIGNS are trademarks of CIBC. Simplii Financial is a division of CIBC. Banking services are not available in Quebec.

^® Interac e-Transfer is a registered trademark of Interac Inc. Used under licence.

Apple^® is a trademark of Apple Inc., registered in the U.S. and other countries.

Google^TM is a trademark of Google Inc.

Samsung^® is a registered trademark of Samsung Electronics Co., Ltd.

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Accounts
No Fee Chequing Account

New clients can earn up to $200*. Open a No Fee Chequing Account today.

Benefits and features

New clients can earn up to $200 in cash*. Here's how:

More benefits and features

Chequing Account Interest Rates

On the portion of the balance between:

Annual Rate (%)

Overdraft Interest Rate

Daily Balance

Annual Rate (%)

Sometimes you need more than day-to-day banking. Check out our Costs for special requests and additional items in the Products and Services Agreement, to find what you need.

Have questions?