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.
Our review
8.7
4.4(1 review)
James Okonkwo · Editor, cards and deposits
Editorial review — not personal advice and not a promise of approval.
Suits:No-fee everyday banking from a licensed deposit-taker, with cards listed separately.
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 APR; a no-fee chequing account is not a no-fee card.
Editorial scores
Cost8.8
Flexibility8.6
Transparency9.0
Service8.4
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 Cash Back Visa
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.
Minimum household income $15,000; not available in Quebec
Cash back paid once a year as a January statement credit
Representative example. 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.
How it compares
This card against the next three in this market, on published terms.
How it compares
Simplii Financial Cash Back VisaThis card
Scotiabank Platinum American Express Card
Scotiabank Value Visa Card
Scotiabank Value Visa Card (for students)
Network
Visa
American Express
Visa
Visa
Annual fee
$0
$399
$29
$29
Purchase rate
21.99%
9.99%
13.99%
13.99%
Rewards
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 $15,000/year; 0.5% otherwise.
2 Scene+ points/$ on eligible purchases; 5 points/$ on eligible hotels and car rentals booked through Scene+ Travel.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
21.99%
9.99%
13.99%
13.99%
Card type
Consumer
Consumer
Consumer
Consumer
Foreign fee
2.5
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Lowest APR
2–5 pts/$
Rewards
$399
Annual fee
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Purchase rate
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Reward points
2 Scene+ points/$ on eligible purchases; 5 points/$ on eligible hotels and car rentals booked through Scene+ Travel.
APR
9.99%
Annual fee: CAD 399. Purchase interest: 9.99%. Cash advances: 9.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
13.99%
Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
This card focuses on borrowing costs or USD spending rather than a points or cashback programme.
APR
13.99%
Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box. Student eligibility requirements apply.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
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.
Scotiabank: Annual fee: CAD 399. Purchase interest: 9.99%. Cash advances: 9.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Scotiabank: Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
Scotiabank: Annual fee: CAD 29. Purchase interest: 13.99%. Cash advances: 13.99%. Rates and fees may change; see issuer information box. Student eligibility requirements apply.
We do not receive commission on this link. Eligibility and final terms are determined by the issuer.
