Simplii Financial review
Updated October 13, 2026 · HodlCue Editorial Team
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Our verdict
For Canadians, Simplii Financial is a digital bank for everyday chequing, savings, borrowing and investing through online channels. It serves people who prefer app based money management with support from an established banking group and protection through national deposit insurance membership.
Key facts
- Best for
- Canadians wanting straightforward digital everyday banking
- Monthly fee
- CA$0↗
- Official website
- simplii.com
Facts checked September 26, 2026, 1 source
Pros and cons
Pros
- Digital bank covering chequing, savings, credit, investing and borrowing in one place
- Backed by CIBC with membership in Canada Deposit Insurance Corporation
Cons
- Operates as an online only service without physical branches
- Serves one national market in Canada with no international scope
Who it suits
- Canadians who want straightforward digital banking
- People who prefer app based control of everyday money
Who should look elsewhere
- People who want in person branch banking
How Simplii Financial compares
Frequently asked questions
What products does Simplii Financial provide?+
Simplii Financial provides chequing for everyday money management and savings for setting money aside for future plans. It also provides credit cards for daily spending, investment options for retirement or education goals, and borrowing options for larger needs. Customers manage all of these through online banking and the mobile app.
Where does Simplii Financial operate?+
Simplii Financial operates in Canada as a digital bank for Canadian customers. It supports everyday banking, borrowing and investing without physical branches. Customers access services online and through the mobile app from across the country.
Who is Simplii Financial suited to?+
Simplii Financial suits people who prefer clear digital banking without branch visits. It suits Canadians who want chequing, savings, borrowing and investing with one provider. App based access makes it practical for customers who manage money online.
Which company stands behind Simplii Financial?+
Simplii Financial is backed by CIBC and operates as its digital banking operation in Canada. It has served Canadians since 2017 and reports more than two million customers. It holds membership with the Canada Deposit Insurance Corporation for eligible deposits.
Does Simplii Financial charge a monthly fee?+
The monthly fee at Simplii Financial is CA$0. (Source, checked September 26, 2026)
Sources
- simplii.com/en/bank-accounts/no-fee-chequing.html checked September 26, 2026
Backs: Monthly fee
“No Fee Chequing Account - No monthly fees”
Compiled from 1 source page, checked October 13, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Card type, Protection.