Simplii is CIBC’s direct bank brand: no-fee everyday accounts and cards with a live apply link. Compare the published fee waiver and the card {rateAbbr}; a no-fee chequing account is not a no-fee card.
Cost
8.8
Flexibility
8.6
Transparency
9.0
Service
8.4
James Okonkwo · Editor, cards and deposits · Scores are editorial and do not affect list order, which is set on published price.
Our review
Suits:No-fee everyday banking from a licensed deposit-taker, with cards listed separately.
What stands out
Direct bank brand
No-fee everyday accounts
Live card offers
Simplii Financial is listed in Canada as a direct bank with live accounts and cards. Compare cards and everyday accounts on the figures the issuer publishes.
Supervision: OSFI and the FCAC. Deposit protection: CDIC coverage. Editorial review — not advice and not a promise of approval.
Pros
Sits with a licensed deposit-taker, so the account terms are the bank's own.
Everyday accounts and cards are separate products on Buckmatch.
Published fee line is usually simpler than a full-service branch bank.
Cons
Digital-first service — branch help is not the product.
Card interest is revolving credit; it is not priced like the chequing account.
Questions about Simplii Financial
Is Simplii a separate bank from CIBC?
It is CIBC’s direct banking brand. The live card names the licensed entity. Eligible deposits follow CDIC coverage.
Is the card free because the account is?
No. Compare the annual fee and purchase APR on the card offer. Clearing the statement each month is what makes revolving credit cheap.
Products you can apply for
8 products in this market
Credit cards
Simplii Financial
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Simplii Financial Cash Back Visa
VISA
Simplii Financial Cash Back Visa
8.74.4(1)
from Simplii Financial
Lowest APR
0.5–4% cashback
Rewards
$0
Annual fee
21.99%
Purchase rate
Consumer
No annual fee
4% on eligible restaurants, bars and coffee shops up to $5,000/year; 1.5% on eligible gas, groceries, drugstores and pre-authorized payments up to $15,000/year; 0.5% otherwise.
Minimum household income $15,000; not available in Quebec
Cash back paid once a year as a January statement credit
APR
21.99%
Show more
Foreign fee
2.5
No annual fee. Purchase interest 21.99%; cash advances 22.99%. Payment due 21 days from statement date. 4% restaurants/bars/coffee up to $5,000 spend/year; 1.5% gas, groceries, drugstore and pre-authorized payments up to $15,000/year; 0.5% on all other purchases with no cap. Cash back is accumulated Jan–Dec and applied on the January statement. Minimum household income $15,000. Age of majority. Canadian citizen or permanent resident excluding Quebec; no bankruptcy in the last 7 years. Source: simplii.com Cash Back Visa, 2026-08-27.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
Simplii Financial: No annual fee. Purchase interest 21.99%; cash advances 22.99%. Payment due 21 days from statement date. 4% restaurants/bars/coffee up to $5,000 spend/year; 1.5% gas, groceries, drugstore and pre-authorized payments up to $15,000/year; 0.5% on all other purchases with no cap. Cash back is accumulated Jan–Dec and applied on the January statement. Minimum household income $15,000. Age of majority. Canadian citizen or permanent resident excluding Quebec; no bankruptcy in the last 7 years. Source: simplii.com Cash Back Visa, 2026-08-27.
Simplii Financial: Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.
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