Simplii No Fee Chequing Account

A direct-banking chequing account with no monthly fee, unlimited transactions, and CIBC ATM access.

Normal monthly fee$0

TransactionsUnlimited

Interac e-TransfersUnlimited

InterestSee details

Institution: Simplii Financial
Official website: https://www.simplii.com/en/bank-accounts/no-fee-chequing.html ↗

Overview

Simplii's chequing account provides unlimited everyday transactions and access to supported CIBC ATMs without a recurring monthly account fee.

Its Debit Mastercard uses Interac for Canadian in-store purchases and Mastercard for supported online and international purchases. Simplii has no retail branches, but supports Canadian-dollar cheque writing, mobile cheque deposit, and joint accounts. Banking service is unavailable in Quebec.

The account pays tiered interest, but this catalog does not display a numeric rate until it can be reliably verified from the official rate source.

Incoming and outgoing wire transfers are supported for a fee. Although CIBC provides Simplii Financial banking services, Simplii accounts cannot be serviced at CIBC banking centres.

Features and access

Monthly cost and transactions

Normal monthly fee: $0The normal recurring monthly fee is $0.
Transactions: UnlimitedUnlimited debit purchases, bill payments, and withdrawals.

Transfers

Interac e-Transfers: UnlimitedNo fee to send, request, or fulfil a request; amount limits and a stop-payment fee apply.

Card and payments

Payment card: YesSimplii Financial Debit Mastercard uses Interac for Canadian in-store purchases and Mastercard for supported online and international purchases.

ATM and branch access

ATM access: YesFree access to supported CIBC ATMs in Canada.
Branch access: NoSimplii is a direct-banking service without Simplii retail branches.

Cheques and ownership

Cheque support: YesCheque writing and Canadian mobile cheque deposit are supported.
Joint account: YesJoint accounts are supported; the holder limit was not confirmed during verification.

Interest

Interest rate: See detailsThe account uses marginal balance tiers, but the official rate page did not expose reliable numeric rates during verification.

Deposit protection

Eligible balances are CIBC deposits and aggregate with other eligible CIBC deposits held in the same CDIC category.