Frequently asked questions

You can open a joint account with one other person. We’ll deposit to the joint account any cheques payable to both of you, or just one of you.

Your joint account holder has the same access to the account as you do. Any one of you may sign alone to operate the account, plus make deposits and withdrawals.

• All money deposited to the account is joint property with the right of survivorship. If one of you dies, all the money in your account automatically becomes the property of the other account holder regardless of your estate plan. 
• We act on the instructions of either account holder. Your joint account holder could withdraw money from the account without your permission, even if you made some or all of the deposits.
• You and your joint account holder are responsible for unpaid amounts on the account. We can recover the full outstanding amount from either one of you. Or, if one of you dies, from that person’s estate.
• The other account holder’s creditors can make claims to the money in the joint account, even if you made some or all of the deposits.

For more information about joint accounts, including some of their risks, go to joint accountsOpens a new window in your browser..

You can access your money from any CIBC ATM in Canada without a fee. But you can’t use an ATM to withdraw money from a savings account. You must transfer your funds to another transactional account first. Also, some machines can’t accept deposits.

You can also withdraw money from any non-CIBC ATM displaying the Interac^® or PLUS^* signs. Additional costs may apply, including any fees from the owner of the other machine.

For more information, review the Costs for Special Requests and Additional Items in our Products and Services Agreement.

For more information about which Simplii Financial accounts you can access through ATMs, call us at 1-888-723-8881.

Yes, you can withdraw money from most ATMs outside Canada displaying the Interac^® or PLUS^* signs. Additional costs may apply, including any fees from the owner of the other machine.

For foreign currency withdrawals, a converted Canadian dollar amount will be posted to your account based on the conversion rate CIBC pays on the date of conversion. The currency conversion may not happen on the date of your withdrawal. Administrative fees also apply.

We can’t guarantee access to your Simplii Financial accounts through ATMs outside Canada for a few reasons:

• Some ATMs may not recognize accounts called "Other" and "Savings"
• Some ATMs may have withdrawal limits that prevent you from withdrawing the amount you request
• You may exceed the daily maximum on the account because of foreign exchange rates

The Simplii Financial institution number is 010.
The branch or transit number is 30800.

There are two ways to deposit cheques and one way to deposit cash into your account:

• Deposit cheques at a CIBC ATM, and cash at a CIBC ATM that accepts deposits
• Deposit cheques through the Simplii Financial Mobile Banking App

For more information, give us a call at 1-888-723-8881.

Direct deposit is a convenient way to automatically put funds into a bank account. Your employer, a government agency or other financial institution can deposit funds directly into your account for you. For more information about eligible accounts, call us at 1-888-723-8881.

To set up a direct deposit, complete a direct deposit form and give it to those who make regular payments to you. A direct deposit form is available through online banking.

Direct deposits to your Simplii Financial account are usually available immediately. Canadian dollar ATM and mobile deposits will post to your account immediately but funds may be held for your hold period, as outlined in your product letter, or up to 5 business days. Saturdays, Sundays and national holidays are non-business days.

Example: If the hold period stated in your product letter is 5 business days and you make a Canadian dollar deposit at an ATM on a Tuesday, you can access these funds the following Tuesday morning, assuming there are no holidays. But, if the first Monday was a national holiday, you can access these funds the following Wednesday morning.

Additional holds apply for non-Canadian cheque deposits. For more information on hold periods, review Processing and Verifying Transactions in our Products and Services Agreement.

Overdraft protection is available on the No Fee Chequing account. You can qualify for limits up to $5,000. A charge applies for this service, in addition to a fixed interest rate on overdraft balances. If you use overdraft, you must bring your account balance over zero at least once in a 30-day period.

For your security in the case of a lost or stolen card, we place daily dollar limits on ATM withdrawals and debit card purchases. For details, refer to your product letter or call us at 1-888-723-8881.

You can withdraw U.S. cash at approximately 700 CIBC ATMs nationwide. And as a Simplii Financial client, you get preferred exchange rates on your U.S. dollar transactions.

When there isn’t enough money in your account and you haven’t arranged the appropriate credit, then the cheque or other item — such as a Pre-authorized Debit — will be returned unpaid and an NSF charge will be applied to your account. You can avoid these charges by ensuring your account has enough funds to cover any payments you’ll be making.

If you have pre-authorized payments set up on your No Fee Chequing Account or Personal Line of Credit account, the merchant may present the same payment item multiple times. If you have insufficient funds, this can result in multiple NSF charges to your account. If you set up your pre-authorized payments on your Visa instead, and there are insufficient funds, the transaction will simply be declined with no additional charges to you.

• Your minimum household annual income is $15,000

• You're a Canadian resident (excluding Quebec)

• You've reached the age of majority in your province or territory

• You haven't declared bankruptcy in the last 7 years

Not a client yet? Apply now for a Simplii account. Opens in a new window.

Simplii Financial Banking Services and the Simplii Financial Cash Back Visa Card aren’t available in Quebec.

There’s no annual fee.

Once you've submitted your application, we'll be able to tell you within a few days if you've been approved. If we need more information from you, we will reach out to you directly. If you have any questions about your application, you can give us a call at 1-888-723-8881.

When you make purchases using your credit card, you'll earn cash back rewards:

• 4% cash back at restaurant, bar and coffee shop purchases on your first $5,000 of net annual card purchases^ⓘ 
• 1.5% cash back on gas, grocery and drugstore purchases, and pre-authorized payments on your first $15,000 of net annual card purchases^ⓘ 
• 0.5% cash back on all other net annual credit card purchases^ⓘ 

Your cash back is accumulated each month, beginning with your January statement (or when you first open your credit card account) and ending with your December statement. All accumulated cash back is automatically redeemed on the last day of your December statement, resulting in your cash back balance being reset to zero, and applied as a credit on your next statement or, in limited circumstances, at such other time as may be permitted by Simplii.^ⓘ 

Yes, all your additional cardholders earn cash back for you.

Even after you hit the limit on a category, you still earn 0.5% on your remaining purchases. Example: For spending at restaurants and bars, you earn 4% cash back on the first $5,000. If you spend another $1,000, you’ll earn 0.5% cash back on that amount.

Your current balance is the total of all outstanding charges (like fees and interest) and posted transactions on your credit card account. It doesn't include pending transactions or payments, which may take a few days to post.

Find your balance on your credit card statement, eStatement or by signing in to Online or Mobile Banking. There's a one-page snapshot of all your accounts on your “My Accounts” page. The balance shown on your credit card account is the most up-to-date balance we have, and includes your most recent transactions.

There are several reasons why balance changes don't appear right away:

• Your payment may take several days to post
• If you pay by cash or cheque, the payment may be held for a few days
• If you make a payment too late to post by the payment due date, it'll appear on your next monthly statement

To learn more about making payments, review the Simplii Financial Cardholder Agreement. (PDF, 100 KB) 

To report suspected fraudulent activity on your credit card, call us immediately at 1-888-723-8881.

To request a balance transfer, or to learn more about this service, give us a call at 1-888-723-8881.

Keep 3 things in mind before you transfer a balance:

• Your Simplii credit card account must be in good standing
• Your regular interest rate applies to this transfer
• The balance transfer can’t be more than your available credit and cash

Pay your Simplii Financial credit card bill through Online or Mobile Banking.

To pay by phone, give us a call at 1-888-723-8881. If you’re outside North America, call us at 416-223-0263. 

You can add cardholders on online or mobile banking in the “More Services” section. You can also call us at 1-888-723-8881 Opens your phone app..

In Online Banking, sign on then:

1. Select "Pay Bills"
2. Select "Add Bill"
3. Enter "Simplii" as your billing company then click “Search”
4. Select the Simplii Visa from the search results
5. Enter your credit card number in the "Account Number" box, then select "Continue"
6. Make sure the payee information is correct, then select "Confirm"

In Mobile Banking, sign on then: 

1. Select “Bill Payments”
2. Select "Add Bill"
3. Enter "Simplii" as your billing company then select “Search”
4. Select the Simplii Visa from the search results
5. Enter your credit card number in the "Account Number" box, then select "OK"
6. Make sure the payee information is correct, then select "Yes"

To report a lost or stolen card, call us immediately at 1-888-723-8881.

Your Credit Available refers to your credit limit minus your current balance and pending transactions. Pending payments will increase your Credit Available.

Yes, you can use your Simplii credit card to review your credit card account details or to withdraw cash at any Visa Plus* network ATM or CIBC ATMOpens a new window in your browser..

Click to Pay is an online payment solution based on the EMV® Secure Remote Commerce (EMV SRC) standards and specifications. With EMV SRC, a single payment profile can be used across a variety of consumer devices and participating online merchants. The standards include a common payment icon , and an easy and secure journey for card-based digital transactions. To make an online purchase, you’ll no longer have to enter 16-digit card numbers, look up passwords or fill out long forms. Wherever you see the Click to Pay icon, you can enjoy an easy, smart and secure online checkout experience when paying with your Simplii credit card.

You can enjoy an easy, smart and secure online checkout when you see the Click to Pay icon . Just look for the icon when you check out at your favourite participating online retailers.

All Visa cards stored in your Visa Checkout account will be available for use where Visa is accepted. Some existing Visa Checkout users may need to re-verify themselves through one-time codes when using Click to Pay for the first time. Your non-Visa cards saved in Visa Checkout will not automatically transfer. You can set up new cards on Click to Pay at a participating retailer at checkout.

Visa will continue supporting Visa Checkout merchants and users in all regions globally until the transition to Click to Pay is complete.

Yes, you can use Click to Pay with your cards on Internet-enabled mobile devices when you see this icon .

You can set up your cards for Click to Pay:

• At merchants that display the Click to Pay icon 
• On Visa’s enrollment pageOpens a new window.

Look for the Click to Pay icon when you check out at participating online retailers to get started, and pay with your Simplii credit card wherever it is accepted.

For your Visa card, contact Visa support at checkoutwithvisa@visa.comOpens your email app. or call Visa customer support at 1-855-847-2032Opens your phone app..

The Visa payment network will share your personal information with participating service providers and merchants to facilitate the checkout experience. For more on how the payment networks collect, protect and share your personal information, please see their Privacy Notice.

Yes, you can choose to enable this feature by selecting “Remember Me.” Then you can skip entering your email and a one-time code to access the cards you set up for Click to Pay. It’s a great way to make your checkout experience even faster and easier — you won’t have to enter your 16-digit card number and other payment information. The “Remember Me” function works for all merchant websites displaying this Click to Pay icon . For your security, we’ll still ask you to re-verify in certain situations, such as updating your personal info. Go to “My Device Settings” to change your settings at any time. This feature is not recommended for shared devices.

You can adjust your “Remember Me” settings anytime by signing on to Visa’s Click to Pay account, and going to the “My Device Settings” section on the “My Card Details” screen.

Interac Debit contactless payment or tap to pay allows you to use your chip-enabled bank card for everyday purchases in Canada from your Simplii Financial account without entering your PIN. All Simplii Financial bank cards are enabled for contactless debit transactions.

When you use a terminal that’s Interac Debit contactless payment enabled, hold your card over the terminal and wait for the approval to appear on the screen, or for a beeping sound. You don’t have to insert your card or enter your PIN for purchases up to $250 — for a single transaction, or $1,000 cumulative — at participating merchants. Your purchase is deducted from your bank account immediately just like Interac Debit purchases that use chip and PIN.

There are several security features to help protect cards enabled with contactless technology and contactless transactions from fraud.

Interac Flash is part of the secure microchip that’s already on your card. Your card has chip technology to protect it from being copied and counterfeited. For more safety, if you go over your Interac Flash spending limit, the terminal will ask you to do a PIN transaction to confirm that you’re the actual cardholder. In addition, Interac Flash comes with the Interac Zero Liability policy ― if your card is lost or stolen and is fraudulently used, you’ll get 100% of your funds back.

All Interac Flash cards come with the contactless feature enabled. If you want to turn it off, give us a call at 1-888-723-8881.

With your new Simplii bank card you can now make purchases online and in-store, locally and internationally, wherever Mastercard is accepted. The functionality of the card is still the same, but we’ve added some more features.

• Shop online: Make online purchases directly from your Simplii bank account
• Shop in-store worldwide: Make purchases using your new bank card directly from your Simplii bank account at international merchants that accept Mastercard

It's a debit card. Your new card has the Mastercard and Interac logos to highlight that you can make purchases at merchants that use these networks. Purchases made in-store in Canada are processed by Interac, whereas online and international purchases are processed by Mastercard. Purchases are paid directly from your personal chequing account.

You can activate your card by completing any of the following:

Existing clients: 

• Sign on to online or mobile banking with your new card number and existing password 
• Complete a transaction at a point-of-sale (POS) terminal or ATM with your new card and existing Personal Identification Number (PIN)

New clients: 

• Activate your card by making a PIN transaction at a POS terminal or ATM

We’ve sent you a new bank card so you can enjoy the new features it has to offer. The functionality is still the same. All you need to do is activate your card to start using it.

You’ve received a new card number to help provide enhanced security on your purchases. Use your new card number to sign on to online and mobile banking. 

Once your new card is activated, your list of bill payments will automatically be transferred from your old card. 

We’ve changed the orientation of the bank card to vertical to align with how you insert the card into a POS terminal or ATM. 

You can continue using your bank card as you normally do. You can shop in-store in Canada and pay using the CHIP or tap technology. Now, you can also use your card for online and international shopping, where Mastercard is accepted. 

When you’re making an online purchase and you’re ready to checkout, enter your information, such as your card number, expiry date and CVC. This information can be found on the back of your card.

Your card number, expiry date and CVC information are found on the back of your new bank card. 

You can use your new bank card internationally at any POS terminal, wherever Mastercard is accepted. You may be prompted to enter your PIN or sign for the transaction.

Your limits remain the same.

Yes, your purchases are protected through Mastercard’s Zero Liability as long as you meet your obligations to safeguard your card and PIN or password, and report loss or theft of the card immediately. For more information visit Mastercard’s security benefits Opens in a new window..

To report any suspected fraud activity, call us immediately at 1-888-723-8881 Opens your phone app..

There may be a delay between the money taken out of your account and the actual posting of the transaction. Some merchants may place a pre-authorization on your bank card, which puts the transaction amount on hold. This reduces the balance of your available funds until the transaction is posted. 

A signature panel is no longer required on the back of the card. In the past, this signature panel was used as a reference for merchants to ensure you were the cardholder. Now, you’re validated through your CHIP and unique PIN. 

When you make an international purchase, you’ll pay using Canadian dollars, which will be converted to the local currency.

When you make an international purchase in the US, Simplii’s exchange rate will be used. For all other international purchases, Mastercard’s exchange rate will be used.

A one-time verification code is a randomly generated 6-digit code that helps us verify your identity. It also ensures your information is protected when you make sensitive transactions like changing your password or contact information. 

You can choose to receive the code through text message, push notification or phone call. Once we send you the code, complete your transaction by entering it in our online or mobile banking app. You can only use the code once for the specific transaction it was sent for.

Every Simplii customer who tries to perform a sensitive transaction will need to use the one-time verification code to confirm their identity. There won’t be any personal verification questions for online banking once the 2-step verification process is in effect. 

We may send you a one-time verification code through text, phone call or push notification when you request to reset your forgotten online banking password, or when you perform a sensitive transaction like paying a large bill or adding a new e-Transfer recipient. To ensure you receive this code, we’ll ask you to confirm or provide us with your contact information.

Push notifications are notifications triggered by apps on your mobile device. We use push notifications to alert you about things like credit card transactions. They’re a great alternative to text messages for certain requests or alerts, particularly when travelling.  

To get push notifications, make sure you have the latest version of our mobile banking app. If you’re not sure you have it, you can download the updated version of the app from the Apple or Google Play store. You should also set your device settings to allow push notifications from our mobile banking app.

Note: If you’ve done all the above and still aren’t receiving push notifications, delete and reinstall the mobile banking app. This may display a pop-up where you can turn push notifications on. 

Push notifications are interactive, personalized alerts sent directly to your mobile device that can help you stay on top of your accounts. Push notifications are a great alternative to text messages for certain requests or alerts, particularly when travelling. To get push notifications, you need to register for our mobile banking app, have access to a data or Wi-Fi connection and have notifications enabled on your mobile device. 

1. Make sure you’ve downloaded the most recent version of our mobile banking app.  
   
2. Go to “Settings” on your device to ensure notifications for the mobile banking app are turned on. 
3. Sign on to the mobile banking app, select “Settings” and “Security”, then select “Account Security.”  
4. Select “Get push verification codes to your device” and follow the prompts.

No, your banking won't be affected. However, if you're travelling, you may be asked to enter a one-time verification code if you are completing 1 of the following transactions:

• Add payees
• Add or change an Interac e-Transfer^® recipient
• Large payments
• Change your address or contact information
• Reset your online or mobile banking password
• Register for online or mobile banking

If you're travelling within Canada or the U.S., you'll have the option to receive the one-time verification code via push notification for most requests, text message or voice call to Canadian or American phone numbers and some international phone numbers. Review a list of accepted international numbers:

Learn more about push notifications.

If you’re signed up for mobile or online banking, you can only receive an OTVC through push notifications via mobile banking. If you require assistance, contact us at 1-888-723-8881 Opens your phone app..

You’ll need to contact telephone banking at 1-888-723-8881 Opens your phone app..

No, you won’t need a one-time verification code every time you use online or mobile banking. It will only be needed for select transactions, such as:

• Add payees

• Add or change an Interac e-Transfer^® recipient

• Make a large payment

• Change your address or contact information

• Reset your online or mobile banking password

• Register for online or mobile banking

If you’re doing several transactions during the same banking session, the code will only apply to the first transaction.

While you may be asked to provide a code to a CIBC agent if you call the number at the back of your card, no one from CIBC will call you to request this code over the phone. Decline the request and report it to CIBC.

To provide better security to our clients, we’re no longer sending OTVCs by email. Email accounts are susceptible to phishing and malware fraud that can put your financial information at risk. We recommend that you use more secure delivery options, like text messages, push notifications or telephone calls, to receive OTVCs.

We’ll only send you email alerts to make you aware of information affecting your account. These email alerts provide limited information and do not grant access to make changes to your account.

Banking online is very simple. Once you register and have a password, there's an extensive Help section to answer your questions. If you need more help, give us a call at 1-888-723-8881.

Your online security is our most important concern. When you sign on to your accounts, you can feel confident knowing your account details are protected by one of the most secure forms of encryption widely available for Internet browsers. For more information, review our Products and Services Agreement.

Once your account is activate, choose a password to register. Have your debit card with you and follow the instructions. Register for online bankingOpens a new window in your browser..

Some merchants accept the date you pay a bill as the date they receive payment. But, some need more time to process your payment. So, you should schedule a bill payment for several business days before you want the payment to be effective to ensure it arrives on time.

The posting date for transactions completed after 6:00 pm ET or on weekends and holidays shows as the next business day.

Our account opening procedure may have been different at that time. And if your friend was already a client and recently applied for another product, he or she wouldn’t need to verify their identity again.

Yes, as long as your name appears on the cheque and you sign it.

This feature lets you deposit a cheque from anywhere using the Simplii Financial Mobile Banking App and your camera-enabled mobile device.

After your download the app, sign on to mobile banking, select Deposit and follow the prompts on screen.

Your mobile device must be compatible with the Simplii Financial Mobile Banking App and must be camera-enabled.

No, there are no additional fees for using Mobile Cheque Deposit.

No, Mobile Cheque Deposit lets you deposit Canadian dollar cheques to your Canadian dollar accounts.

3D Touch is a quick action available on compatible Apple devices. When you firmly press and hold the Simplii Financial App icon, you can transfer funds, pay bills or deposit a cheque in fewer steps.

If you’re signed in to the app, you can begin your transaction right away. If you’re not signed in, you’ll be asked to sign in first before you get to the appropriate screen.

Fingerprint ID is a fingerprint sensor for Android^TM devices. You can set up your fingerprint on your Android device and on the Simplii Financial Mobile Banking App. This lets you sign on to mobile banking with a single touch.

First, save your fingerprint on your Android device. Then, sign on to the Simplii Financial Mobile Banking App, go to “Settings” and select “Set up Fingerprint ID.”

When you turn on Fingerprint ID in the app, you’re asked to enter your mobile banking password and touch the sensor to confirm your fingerprint. Once you’re authenticated, your preference is saved and you have the option to use your fingerprint the next time you sign on. Just press the sensor with your fingerprint to sign on.

Touch ID is a fingerprint sensor for Apple devices. If you set up your fingerprint on your iPhone or iPad, you can also set it up on the Simplii Financial Mobile Banking App. This lets you sign on with a single touch.

First, save your fingerprint on your Apple device. Then, sign on to the Simplii Financial Mobile Banking App, go to “Settings” and select “Set up Touch ID.”

When you turn on Touch ID in the app, you’re asked to enter your mobile banking password. When you’re authenticated, your preference is saved. You have the option to use your fingerprint the next time you sign on. Press the “Sign on” button and once the Touch ID message appears, use your fingerprint on your device’s home button to sign on.

Yes, you can add both your Simplii debit card and credit card to Apple Pay, Google Pay^TM and Samsung Pay^®. 

For more information about adding your card to mobile wallet, go to Mobile payment.

Yes. Your card number isn’t stored on your device and is never shared with merchants when you pay in store. Instead, a unique encrypted number is created for your device.

Yes, the in-store limit is $250 per transaction. But this limit may vary by merchant. If your mobile wallet transaction is declined for any reason, use your regular Simplii debit or credit card.

We don’t charge a fee for using Apple Pay, Google Pay or Samsung Pay. Your mobile service provider, mobile wallet provider or other third parties may charge you service fees for using your device or payment method.

Use your mobile wallet in stores wherever you see the Apple Pay, Google Pay, Samsung Pay or Contactless logos. If you’re using the Simplii credit card or Debit Mastercard in your mobile wallet, you can also make in-app purchases with Apple Pay and Google Pay. With the Simplii credit card, you can also make web purchases with Safari at participating merchants. You can’t use the Simplii debit card in your mobile wallet to make online purchases.

Interac e-Transfer service lets you send and receive money electronically, 24 hours a day, 7 days a week. It lets you send money to almost anyone with an e-mail address or Canadian mobile phone number and a Canadian-dollar bank account at a Canadian financial institution.

You need to be registered for online banking to use this service. You also need the recipient's e-mail address or Canadian mobile phone number and a security question and answer.

Sign on to online banking and select “Interac e-Transfer.” Follow the on-screen instructions to complete the transfer.

Sending or receiving money via Interac e-Transfer is free. If you stop a transaction, you’ll be charged $3.50.

You can access Interac e-Transfer service with several Simplii Financial accounts:

• No Fee Chequing
• Personal Line of Credit
• Secured Line of Credit

When sending money via Interac e-Transfer, the following limits apply:

• For any 24-hour period, you can send up to $3,000
• For any 7-day period, you can send up to $10,000
• For any 30-day period, you can send up to $30,000

Sign on to online banking and select "Interac e-Transfer.” Then select "e-Transfer status" for a list of transactions and links to their current status.

A stop payment is when the sender chooses to stop the payment; the sender is charged a fee for this request.

A reclaim money transfer is when the Interac e-Transfer transaction can’t be delivered. This can happen for several reasons:

• The recipient's e-mail address or mobile phone number is invalid
• The recipient can’t answer the security question
• The recipient declines the transfer
• The transaction expires

When the Interac e-Transfer transaction can’t be completed, the funds are returned to the sender. No fees are charged in this case.