{"id":7136,"date":"2022-06-16T08:12:50","date_gmt":"2022-06-16T15:12:50","guid":{"rendered":"https:\/\/www.nerdwallet.com\/ca\/?page_id=7136"},"modified":"2025-01-09T14:49:50","modified_gmt":"2025-01-09T22:49:50","slug":"simplii-financial-review","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review","title":{"rendered":"Simplii Financial Review"},"content":{"rendered":"\n<div class=\"wp-block-group is-style-disclosure is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"\">Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-trust-card\"><div class=\"c-block-trust-card\"><h2 class=\"c-block-trust-card__title\">Simplii Financial at a glance<\/h2><div class=\"c-block-trust-card__description\"><p>Simplii Financial was founded in 2017 and has almost 2 million personal banking clients.<\/p><\/div><ul class=\"c-block-trust-card__bullet-points\">\n<li class=\"wp-block-nerdwallet-blocks-trust-card-bullet c-block-trust-card__bullet-point\"><div class=\"c-block-trust-card__bullet-point__title\">Simplii Financial account options<\/div><div class=\"c-block-trust-card__bullet-point__intro\">Savings<br>Chequing<br>Investing<br>Foreign currency accounts<br>Visa credit card<\/div><\/li>\n\n\n\n<li class=\"wp-block-nerdwallet-blocks-trust-card-bullet c-block-trust-card__bullet-point\"><div class=\"c-block-trust-card__bullet-point__title\">Other Simplii Financial services<\/div><div class=\"c-block-trust-card__bullet-point__intro\">Mortgages<br>Personal loans and lines of credit<\/div><\/li>\n<\/ul><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Simplii Financial overview<\/h2>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0\">\n<figure class=\"wp-block-image alignright size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"129\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-300x129.png\" alt=\"\" class=\"wp-image-37208\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-300x129.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-1024x442.png 1024w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-768x331.png 768w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-1536x663.png 1536w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-2048x883.png 2048w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-460x198.png 460w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-375x162.png 375w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-276x119.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-100x43.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-40x17.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black-150x65.png 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/figure>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"has-text-align-left\">Simplii Financial is a Canadian <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/online-banks-explained\">online-only bank<\/a> backed by the Canadian Imperial Bank of Commerce, or CIBC. Formerly known as President\u2019s Choice Financial and rebranded to Simplii in 2017, this digital bank offers a straightforward selection of bank accounts alongside mortgages, loans and investment products. Simplii does not have physical locations, but its online banking portal and mobile app make it possible for you to manage your finances without needing to set foot in a branch.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Online banking capabilities at Simplii Financial<\/h3>\n\n\n\n<p class=\"\">Simplii\u2019s online banking services are its primary selling point as a digital bank. For people who want to manage their finances online, Simplii offers an online banking portal through its website (simplii.com)&nbsp;and a mobile app to bank on the go. Using Simplii\u2019s online banking platforms, you can open a new <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/types-of-bank-accounts\">bank account<\/a>, transfer funds, deposit cheques, pay bills, manage your investments and more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is my money safe at Simplii Financial?<\/h3>\n\n\n\n<p class=\"\">Simplii Financial is a subsidiary of CIBC and carries coverage from the <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/banking-what-is-cdic-deposit-insurance\">Canada Deposit Insurance Corporation<\/a>, which insures up to $100,000 of eligible deposits in the event that Simplii goes under.&nbsp;<\/p>\n\n\n\n<p class=\"\">As a digital bank, Simplii relies on firewalls and 128-bit encryption to protect your confidential banking information. It also offers the \u201cSimplii Financial Personal Banking Online Security Guarantee,\u201d which reimburses Simplii customers for 100% of funds lost from unauthorized bank transactions so long as they have met the responsibilities outlined in their service agreement. To benefit from Simplii\u2019s Online Security Guarantee, you\u2019ll need to select an adequate online banking password and use up-to-date antivirus software, among other things. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Simplii Financial account types<\/h2>\n\n\n\n<p class=\"\">Simplii offers many of the personal bank accounts you would expect from a traditional financial institution.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Simplii Financial savings accounts<\/h4>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>High Interest Savings Account:<\/strong> No monthly fees or minimum balance requirements, though the high interest rate only lasts for 5 months. The regular tiered-rate is much lower, unless you maintain deposits of a few hundred thousand dollars.<\/li>\n\n\n\n<li class=\"\"><strong>USD Savings Account:<\/strong> Transfer, send and save U.S. dollars with no monthly fee or minimum balance, plus earn interest on your savings.<\/li>\n\n\n\n<li class=\"\"><strong>Foreign Currency Savings Account:<\/strong> Save and send money internationally in the destination currency for no transfer fee. No monthly fee or minimum balance. Available for yuan, rupees, euros, pounds and Philippine pesos.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Simplii Financial chequing account<\/h4>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>No Fee Chequing Account:<\/strong> Unlimited transactions with no monthly fees.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Simplii Financial credit card<\/h3>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/credit-cards\/best-cash-back-credit-cards#simplii-financial-cash-back-visa-card\"><strong>Simplii Financial Cash Back Visa Card:<\/strong><\/a> Earns cash-back rewards without an annual fee.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Simplii Financial registered accounts<\/h4>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\">Tax-Free Savings Account (TFSAs)<\/a>.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp\">Registered Retirement Savings Plan (RRSPs)<\/a>.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-an-resp\">Registered Education Savings Plan (RESPs)<\/a>.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/what-is-rrif\">Registered Retirement Income Fund (RRIFs)<\/a>.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Other Simplii Financial services<\/h4>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-gic-rates-in-canada\">Guaranteed investment certificates (GICs)<\/a>.<\/li>\n\n\n\n<li class=\"\">Mutual fund investment accounts.<\/li>\n\n\n\n<li class=\"\">Fixed-rate and variable-rate mortgages, and specialty programs, including rural, medical professional and new Canadian mortgages.<\/li>\n\n\n\n<li class=\"\">Personal and secured <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-line-of-credit\">lines of credit<\/a>.<\/li>\n\n\n\n<li class=\"\">Fixed- and variable-rate <a href=\"https:\/\/www.nerdwallet.com\/ca\/loans\/what-is-a-personal-loan\">personal loans<\/a>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Simplii Financial fees<\/h2>\n\n\n\n<p class=\"\">Simplii advertises a no-fee chequing account but the name is somewhat misleading, because overdraft, insufficient funds and out-of-network ATM fees are still applicable. That said, you won\u2019t pay any monthly service fees or deal with minimum account balance requirements for holding a chequing or savings account, which is a plus.&nbsp;<\/p>\n\n\n\n<p class=\"\">Here are some of the more <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/bank-fees-and-charges\">common fees<\/a> Simplii charges:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-overdraft\">Overdraft protection<\/a> for No Fee Chequing Account: $4.97<\/li>\n\n\n\n<li class=\"\">Overdraft APR: 19%<\/li>\n\n\n\n<li class=\"\">Overlimit fee for Cash Back Visa: $29<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-nsf-fee\">Non-sufficient funds fee<\/a>: $45<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/how-to-use-atm\">ATM<\/a> withdrawals outside Simplii\u2019s network: $1.50 for domestic ATMs, $3 for international ATMs<\/li>\n\n\n\n<li class=\"\">Registered account transfer to another institution: $50<\/li>\n<\/ul>\n\n\n<div class=\"c-block-house-ad wp-block-nerdwallet-blocks-house-ad\">\n\n\t\t\t<div class=\"c-promotion-banner__partner-spotlight\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/plugins\/nerdwallet-blocks\/assets\/images\/nerdwallet-bug.svg\"\n\t\t\t\talt=\"Nerdwallet Logo\"\n\t\t\t\/>\n\t\t\t<span class=\"c-promotion-banner__partner-spotlight--title\">\n\t\t\t\tPartner Spotlight\t\t\t<\/span>\n\t\t<\/div>\n\t\n\t<div class=\"c-block-house-ad__wrapper\">\n\t\t<div class=\"c-block-house-ad__inner\">\n\t\t\t<div class=\"c-house-ad__content-wrapper c-house-ad__content-wrapper__no-image\">\n\t\t\t\t\n\t\t\t\t<h4 class=\"c-block-house-ad__title\">Simplii Financial<\/h4>\n\t\t\t\t\t\t\t\t\t<p class=\"c-block-house-ad__content\">\n\t\t\t\t\t\tFind the best Simplii Financial products to meet your needs.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t<div class=\"c-block-house-ad__cta wp-block-button\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/go\/4552\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" class=\"c-block-house-ad__cta-button nw-cta track-click-mon wp-block-button__link wp-element-button\" data-placement=\"Promotional banner\">Explore Now<\/a><\/div>\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"c-block-house-ad__image-wrapper\">\n\t\t\t\t\t<div class=\"c-block-house-ad__image\">\n\t\t\t\t\t\t<img decoding=\"async\" class=\"c-block-house-ad__icon-img\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/09\/Simplii-Financial-Stacked-Left-RGB-Black.png\" alt=\"Ad Icon\" style=\"max-width: 200px; max-height: 200px;\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Who Simplii Financial is best for<\/h2>\n\n\n\n<p class=\"\"><strong>Canadians who prefer to manage their finances online and don\u2019t mind remote customer service. <\/strong><\/p>\n\n\n\n<p class=\"\">With its online-only banking options and 24-hour phone support, Simplii Financial is best for Canadians who prefer to manage their finances online and don\u2019t mind receiving assistance remotely. Phone support (on 1-888-723-8881) and virtual assistants are available 24\/7; live chat agents work 7 a.m. to 9 p.m. ET Monday to Friday, and 9 a.m. to 5 p.m. on Saturday and Sunday.<\/p>\n\n\n\n<p class=\"\">While its account type and service lineup is more limited than what you might find at other banks, Simplii\u2019s online banking platform is feature-rich and functional so you can take care of your finances independently.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Pros and Cons of Simplii Financial<\/h3>\n\n\n\n<p class=\"\">Simplii has plenty going for it, but no bank is perfect. Here\u2019s what to consider before you open an account.<\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-pros-cons c-block-pros-cons\"><h4 class=\"c-block-pros-cons__pros-title\">Pros of Simplii Financial<\/h4><ul class=\"c-block-pros-cons__pros-values\"><li>Mobile app and online banking platform.<\/li><li>Ability to open an account online before arriving in Canada.<\/li><li>No monthly fees for chequing and savings accounts.&nbsp;<\/li><li>Access to over 3,400 CIBC ATMs nationwide.<\/li><li>24-hour support by phone and live chat (though some of those hours only offer access to virtual assistants).<\/li><li>Some investment options, such as <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-simplii-financial-gic-rates\">Simplii GICs and RGICs<\/a>.<\/li><\/ul><h4 class=\"c-block-pros-cons__cons-title\">Cons of Simplii Financial<\/h4><ul class=\"c-block-pros-cons__cons-values\"><li>No in-person banking services or support.<\/li><li>No youth bank accounts.<\/li><li>No business banking accounts.<\/li><li>Investment options limited to mutual funds and GICs.<\/li><li>Not available in Quebec.<\/li><\/ul><\/div>\n\n\n\n<ul class=\"\">\n<li class=\"\"><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How Simplii Financial compares to other online banks<\/h2>\n\n\n<div class=\"c-tablepress-table-wrapper\" style=\"overflow-x: auto;\">\n<table id=\"tablepress-441\" class=\"tablepress tablepress-id-441\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\"><\/th><th class=\"column-2\">ATM access<\/th><th class=\"column-3\">Are deposits insured?<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/canadian-tire-bank-review\">Canadian Tire<\/a><\/td><td class=\"column-2\">N\/A<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/eq-bank-review\">EQ Bank<\/a><\/td><td class=\"column-2\">Free at any ATM in Canada (fees are reimbursed).<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\">Simplii Financial<\/a><\/td><td class=\"column-2\">Free at any CIBC ATM.<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/tangerine-bank-review\">Tangerine Bank<\/a><\/td><td class=\"column-2\">Free at any Scotiabank or Global ATM Alliance ABM.<\/td><td class=\"column-3\">Yes, by the Canada Deposit Insurance Corporation.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> Read our <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\">Banking reviews<\/a> of other Big Banks, credit unions and online-only banks.<\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-faq c-block-faq\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><div class=\"c-block-faq__wrapper\"><div class=\"c-block-faq__header\"><h2 class=\"c-block-faq__title\"><\/h2><\/div><div class=\"c-block-faq__section-list\">\n<div class=\"wp-block-nerdwallet-blocks-faq-section\"><div class=\"c-block-faq-section c-block-accordion-wrapper\"><div class=\"c-block-accordion__header\"><h3 class=\"c-block-accordion__title\">Simplii Financial frequently asked questions<\/h3><\/div><div class=\"c-block-accordion-list\">\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">Is Simplii part of CIBC?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Yes. Simplii Financial is a division of <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/cibc-review\">CIBC<\/a>.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">Does Simplii have a debit card?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Yes. Simplii\u2019s No Fee Chequing Account comes with a <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-debit-card\">debit card<\/a> you can use to access ATMs and make in-person purchases.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-256\" class=\"c-block-card post-256 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-banking-basics cluster-banking-services\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/how-to-open-a-bank-account\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"192\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/GettyImages-1162215640-e1625175030670-460x192.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"How to Open a Bank Account\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/how-to-open-a-bank-account\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHow to Open a Bank Account\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>You can open a bank account online, over the phone or at a branch. Make sure you have two forms of identification ready.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/hannah-logan\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/Hannah-Logan-e1626212867388-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Hannah Logan<\/a><a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/sjahagirdar\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/Headshot_Siddhi-Jahagirdar-e1648746969870-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Siddhi Bagwe<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-256 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-2882\" class=\"c-block-card post-2882 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-saving-account\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-online-savings-accounts\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"191\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Young-woman-depositing-check-by-phone-in-the-cafe-for-online-bank-account-e1638466050696-460x191.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Canada&#8217;s 22 Best Online Savings Accounts for 2025\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-online-savings-accounts\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tCanada&#8217;s 22 Best Online Savings Accounts for 2025\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Online savings accounts offered by virtual banks have competitive interest rates and low or no fees.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-2882 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-2993\" class=\"c-block-card post-2993 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-registered-banking-products\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"191\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Best-High-Interest-TFSA-e1639177706748-460x191.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Best Tax-Free Savings Account Rates in Canada for 2025\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tBest Tax-Free Savings Account Rates in Canada for 2025\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>The best high-interest tax-free savings accounts (TFSAs) have minimal fees and earn high rates of interest.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-2993 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-13423\" class=\"c-block-card post-13423 page type-page status-publish hentry content-classification-banking topic-banking-vertical-hub cluster-banking-vertical-hub\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\" rel=\"bookmark\">\n\t\t<div class=\"c-block-card__placeholder\">\n\t\t\t<img\n\t\t\t\tclass=\"c-block-card__image nw-placeholder-image\"\n\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/themes\/nerdwallet\/assets\/images\/nerdwallet-placeholder-310x207.webp\"\n\t\t\t\talt=\"Image Placeholder\"\n\t\t\t>\n\t\t<\/div>\n\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/reviews\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tNerdWallet Canada&#8217;s Banking Reviews\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>We&#8217;ve reviewed Big Banks, credit unions and online-only banks \u2014 along with some of their most popular products \u2014 to help you understand the pros, cons and perks.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-13423 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>Simplii Financial doesn\u2019t have any physical branches but what it lacks in in-person support it makes up for with no monthly fees or account minimums.<\/p>\n","protected":false},"author":26,"featured_media":4564,"parent":100,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":"[\"https:\\\/\\\/news-api.apple.com\\\/sections\\\/258a2d7c-962b-47be-93aa-4e3a3f4b4a02\"]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","_nw_pros_cons_block_schema":"{\"@context\":\"http:\/\/schema.org\",\"@type\":\"Product\",\"name\":\"Simplii Financial Review\",\"review\":{\"@type\":\"Review\",\"name\":\"Simplii Financial Review\",\"author\":{\"@type\":\"Person\",\"name\":\"Post Author\"},\"positiveNotes\":{\"@type\":\"ItemList\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Mobile app and online banking platform.\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ability to open an account online before arriving in Canada.\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"No monthly fees for chequing and savings accounts.\u00a0\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Access to over 3,400 CIBC ATMs nationwide.\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"24-hour support by phone and live chat (though some of those hours only offer access to virtual assistants).\"},{\"@type\":\"ListItem\",\"position\":6,\"name\":\"Some investment options, such as Simplii GICs and RGICs.\"}]},\"negativeNotes\":{\"@type\":\"ItemList\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"No in-person banking services or support.\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"No youth bank accounts.\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"No business banking accounts.\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Investment options limited to mutual funds and GICs.\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Not available in Quebec.\"}]}}}"},"content-classification":[15],"topic":[107],"cluster":[213],"pp_author":[307],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Simplii Financial Review 2025 - NerdWallet Canada<\/title>\n<meta name=\"description\" content=\"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simplii Financial Review 2025 - NerdWallet Canada\" \/>\n<meta property=\"og:description\" content=\"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\" \/>\n<meta property=\"og:site_name\" content=\"NerdWallet Canada\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NerdWallet\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T22:49:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/simplii-financial.png\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@NerdWallet\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data2\" content=\"Siddhi Bagwe\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\",\"url\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\",\"name\":\"Simplii Financial Review 2025 - NerdWallet Canada\",\"isPartOf\":{\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#website\"},\"datePublished\":\"2022-06-16T15:12:50+00:00\",\"dateModified\":\"2025-01-09T22:49:50+00:00\",\"description\":\"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.nerdwallet.com\/ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banking\",\"item\":\"https:\/\/www.nerdwallet.com\/ca\/banking\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Simplii Financial Review\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#website\",\"url\":\"https:\/\/www.nerdwallet.com\/ca\/\",\"name\":\"NerdWallet Canada\",\"description\":\"NerdWallet, make all the right money moves.\",\"publisher\":{\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.nerdwallet.com\/ca\/?s={search_term_string}&submit=Search\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#organization\",\"name\":\"NerdWallet Canada\",\"url\":\"https:\/\/www.nerdwallet.com\/ca\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/06\/NerdWallet-bug.svg\",\"contentUrl\":\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/06\/NerdWallet-bug.svg\",\"width\":1,\"height\":1,\"caption\":\"NerdWallet Canada\"},\"image\":{\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/NerdWallet\",\"https:\/\/twitter.com\/NerdWallet\",\"https:\/\/www.instagram.com\/NerdWallet\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Simplii Financial Review 2025 - NerdWallet Canada","description":"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review","og_locale":"en_US","og_type":"article","og_title":"Simplii Financial Review 2025 - NerdWallet Canada","og_description":"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.","og_url":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review","og_site_name":"NerdWallet Canada","article_publisher":"https:\/\/www.facebook.com\/NerdWallet","article_modified_time":"2025-01-09T22:49:50+00:00","og_image":[{"width":900,"height":500,"url":"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/simplii-financial.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_site":"@NerdWallet","twitter_misc":{"Est. reading time":"5 minutes","Written by":"Siddhi Bagwe"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review","url":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review","name":"Simplii Financial Review 2025 - NerdWallet Canada","isPartOf":{"@id":"https:\/\/www.nerdwallet.com\/ca\/#website"},"datePublished":"2022-06-16T15:12:50+00:00","dateModified":"2025-01-09T22:49:50+00:00","description":"Simplii Financial doesn\u2019t have any physical branches but offers basic deposit accounts with no monthly fees or account minimums, as well as a credit card and investing options.","breadcrumb":{"@id":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.nerdwallet.com\/ca\/banking\/simplii-financial-review#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.nerdwallet.com\/ca\/"},{"@type":"ListItem","position":2,"name":"Banking","item":"https:\/\/www.nerdwallet.com\/ca\/banking"},{"@type":"ListItem","position":3,"name":"Simplii Financial Review"}]},{"@type":"WebSite","@id":"https:\/\/www.nerdwallet.com\/ca\/#website","url":"https:\/\/www.nerdwallet.com\/ca\/","name":"NerdWallet Canada","description":"NerdWallet, make all the right money moves.","publisher":{"@id":"https:\/\/www.nerdwallet.com\/ca\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.nerdwallet.com\/ca\/?s={search_term_string}&submit=Search"},"query-input":"required name=search_term_string"}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/www.nerdwallet.com\/ca\/#organization","name":"NerdWallet Canada","url":"https:\/\/www.nerdwallet.com\/ca\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.nerdwallet.com\/ca\/#\/schema\/logo\/image\/","url":"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/06\/NerdWallet-bug.svg","contentUrl":"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/06\/NerdWallet-bug.svg","width":1,"height":1,"caption":"NerdWallet Canada"},"image":{"@id":"https:\/\/www.nerdwallet.com\/ca\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/NerdWallet","https:\/\/twitter.com\/NerdWallet","https:\/\/www.instagram.com\/NerdWallet"]}]}},"_links":{"self":[{"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pages\/7136"}],"collection":[{"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/comments?post=7136"}],"version-history":[{"count":94,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pages\/7136\/revisions"}],"predecessor-version":[{"id":75631,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pages\/7136\/revisions\/75631"}],"up":[{"embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pages\/100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/media\/4564"}],"wp:attachment":[{"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/media?parent=7136"}],"wp:term":[{"taxonomy":"content-classification","embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/content-classification?post=7136"},{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/topic?post=7136"},{"taxonomy":"cluster","embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/cluster?post=7136"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.nerdwallet.com\/ca\/wp-json\/wp\/v2\/pp_author?post=7136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}