Simplii Financial Simplii Financial: Get Up to $200.00 with a New No Fee Chequing Account Get Up to $200 with a Simplii Chequing Account!

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Get some extra cash for shopping sprees from Simplii Financial, because you can get up to $200.00 when you open a new No Fee Chequing Account!

Simply apply online and open your No Fee Chequing Account before May 31 to get started. Next, you'll need to complete two additional steps to qualify for the full $200.00 bonus.

  • Get $150.00 when you set up an eligible payroll or pension direct deposit and receive at least $100.00 per month for three consecutive months
  • Get $50.00 when you open a High Interest Savings Account and set up three monthly recurring transfers of at least $50.00

Both additional steps must be completed within 120 days of opening the No Fee Chequing Account to qualify for the full $200.00 bonus.

The Simplii Financial No Fee Chequing Account offers free daily banking with unlimited debit purchases, bill payments, withdrawals and Interac e-Transfers. Plus, Simplii customers have free access to the CIBC network of ATMs across Canada.

This offer is available to new or eligible Simplii Financial clients until May 31 -- click or tap the Legal pane on the website footer to view the complete terms of this offer.

87 Comments

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    • Thanks, was waiting for this for the same reason
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    • Simplii hard pulls when you open an account with them, just FYI.
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    • sports1 wrote: Simplii hard pulls when you open an account with them, just FYI.
      Thanks for the heads up.

      Would you know if it's possible to apply for the chequing account and the cash back Visa at the same time to prevent 2 hard pulls?
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    • How would a self employed person receive the promo if no direct payroll? Wanted to refer a family member but they have small business.
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    • does child benefit qualify as eligible direct deposit?
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    • I would stay away from Simplii. This bank was hacked back in 2018 with 90,000 customer data exposed. Outdated web interface too...
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    • naticom wrote: does child benefit qualify as eligible direct deposit?
      It did for the last promo of 200$ for wife. But had to call to get the 200$. Promo was deposited within a week of the call.
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    • Here's the fine print (emphasis mine):
      ◊ Between February 1, 2020 at 12:01 am (ET) and May 31, 2020 at 11:59 pm (ET) (the “Offer Period”): (i) the Simplii FinancialTM $150 Chequing cash reward offer (the “Chequing Cash Reward”) is available to qualifying primary account holders of a new Simplii Financial No FeeTM Chequing Account; and (ii) the Simplii FinancialTM $50 Savings cash reward offer (the “Savings Cash Reward”, and together with the Chequing Cash Reward, the “Offers”) is available to qualifying primary account holders of a new Simplii Financial High Interest Savings Account. Qualifying New Accounts meet all of the applicable terms and conditions below.

      1. Definitions

      In these terms and conditions:

      A. “New Account” means: (i) a Simplii Financial No Fee Chequing Account opened during the Offer Period (a “New Chequing Account”), or (ii) a Simplii Financial High Interest Savings Account opened during the Offer Period (a “New HISA”).

      B. “Recurring Direct Deposit” means an automated and recurring payroll or pension direct deposit (including old age security and employment insurance) from an employer or the government.

      C. “Recurring Transfer” means an automated and recurring transfer of funds.

      2. Eligibility

      A. Chequing Cash Reward

      Qualifying customers will receive one $150 cash reward if they satisfy each of the following terms and conditions:

      (i) have no prior banking relationship with Simplii Financial before the Offer Period; (ii) open a New Chequing Account as the primary account holder; (iii) upon opening your first New Account, set up one or more Recurring Direct Deposits totaling at least $100 of deposits per month to your New Chequing Account; and (iv) have at least three (3) consecutive months of such qualifying Recurring Direct Deposit(s) credited to your New Chequing Account within 120 days of opening your first New Account.

      B. Savings Cash Reward

      Qualifying customers will receive one $50 cash reward if they satisfy each of the following terms and conditions:

      (i) successfully qualify for the Chequing Cash Reward and complete all steps in 2(A) above; (ii) open a New HISA as the primary account holder; (iii) upon opening your first New Account, set up one or more Recurring Transfers totaling at least $50 per month of transferred funds from your New Chequing Account to your New HISA; (iv) have at least three (3) consecutive months of such qualifying Recurring Transfer(s) credited to your New HISA within 120 days of opening your first New Account; and (v) maintain in your New HISA a closing balance of at least $150, calculated as of such date, on the last day of the fourth month following the month your first New Account is opened.

      3. Payment of Cash Rewards

      A. The Chequing Cash Reward will be deposited into the New Chequing Account of qualifying customers in the fifth month following the month the first New Account is opened, provided the New Chequing Account is active and in good standing at that time. For example, qualifying customers who opened their first New Account in February 2020 will be paid in July 2020.

      B. The Savings Cash Reward will be deposited into the New HISA of qualifying customers in the fifth month following the month the first New Account is opened, provided the New HISA is active and in good standing at that time. For example, qualifying customers who open their first New Account in February 2020 will be paid in July 2020.

      C. If qualifying customers have more than one No Fee Chequing Account or High Interest Savings Account that is active and in good standing at the time the applicable cash reward is to be deposited, the Chequing Cash Reward or Savings Cash Reward will be paid into the No Fee Chequing Account or High Interest Savings Account with the most recent transaction date, regardless of whether any of the accounts are joint accounts.

      4. Additional Limitations and Qualifications

      A. Each of the Offers is open only to Canadian residents who have reached the age of majority, and are non-transferable. The Offers are subject to the terms and conditions of the Simplii Financial Products and Services Agreement.

      B. Limit of one Chequing Cash Reward and Savings Cash Reward per qualifying customer no matter how many New Chequing Accounts or New HISA Accounts are opened by such customer as the primary account holder. The recipient of the cash reward is solely responsible for any tax consequences associated with their receipt thereof.

      C. Simplii Financial reserves the right to cancel or change the terms of one or both of the Offers at any time without notice, for any reason, and to revoke one or both of the Offers for any customer who appears to be manipulating or abusing the Offers, or is engaged in any suspicious/fraudulent activity.
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    • Is there a way to get this if you only get paid by cheque?
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    • kimchibowl wrote: I would stay away from Simplii. This bank was hacked back in 2018 with 90,000 customer data exposed. Outdated web interface too...
      Simplii is owned by CIBC, a reputable bank. BMO was also affected. Banks have to deal with this stuff all the time.
      Plus, it was spear phishing.
      I've been with this company (as a customer) for approximately 15 years and have had no problems. No issues with their interface either.
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    • Can the ones in Quebec open accoutns in Simplii Financial? Thank you!
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    • Maymaykitten wrote: Simplii is owned by CIBC, a reputable bank. BMO was also affected. Banks have to deal with this stuff all the time.
      Plus, it was spear phishing.
      I've been with this company (as a customer) for approximately 15 years and have had no problems. No issues with their interface either.
      +1. Been with them for about 8 years. Plus, IMHO, their web interface is much better than TD and RBC.
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    • It's CIBC in disguise. But still good. No fees.
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    • how can i get this promo if i don't have payroll or pension direct deposit
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    • in my opinion, Tangerine's promo is a little bit easier to get than this one.
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    • Qpzm25 wrote: Thanks for the heads up.

      Would you know if it's possible to apply for the chequing account and the cash back Visa at the same time to prevent 2 hard pulls?
      Would like to know this as well.
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    • Qpzm25 wrote: Thanks for the heads up.

      Would you know if it's possible to apply for the chequing account and the cash back Visa at the same time to prevent 2 hard pulls?
      Take this with a grain of salt, but I have been with simplii since their inception, and with PC before that since about 2011(?) roughly. I just recently applied and was approved for their visa (and have received the card now) after being with PC mastercard for the same amount of time as opening the chequing/savings accounts. When I applied for the VISA, they did not hard pull me at all. Probably because they already know my credit and my financial situation. I would say they are likely to reuse previous credit pulls, especially if they've done it recently. YMMV though.
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    • Did anyone sign up but didn’t get the second follow up email as well?
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    • beeknight wrote: +1. Been with them for about 8 years. Plus, IMHO, their web interface is much better than TD and RBC.
      Yep, I've been with them since early on in their PC Financial days. Fantastic no frills bank that is perfect for my needs. If you need to do a lot of special transactions (certified cheques etc.) they can be a pain in the ass, but good for the simple stuff.
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