Simplii Financial offers some of the highest bonus interest rates and cash bonus offers on the market when you sign up for a new account. We’ve gathered together the Simplii new account offers and promotions available now — including how the Simplii referral bonus works — to help you compare options and earn more.
We’ve compiled the latest Simplii offers available now so you can easily browse through the current Simplii promotions and compare deals.
Simplii No Fee Chequing Account
Earn $500 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends February 28, 2025.
Simplii High Interest Savings Account
Earn 6.00% interest for 5 months on up to $1,000,000 in savings. Apply by January 31, 2025.
Simplii Financial Student No Fee Chequing Account
Earn $500 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends February 28, 2025.
After signing up for a new Simplii Financial account, you'll be able to qualify for a welcome bonus of up to $500 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends February 28, 2025.
You’ll receive the cash bonus as a deposit in your new No Fee Chequing Account within 3 business days of completing the offer qualifying actions.
Qualifying direct deposits include payroll, pension, Employment Insurance and Provincial Parental Insurance.
Keep in mind that Interac e-transfers and transfers between accounts do not qualify for the Simplii new account offer.
Simplii Financial doesn’t accept just any direct deposit as part of its new account offer. The following direct deposits are the only types of deposits that you can use to qualify for the Simplii cash bonus offer.
Payroll:
Insurance:
Pension:
Government benefit or social assistance:
No, Simplii does not categorize EFT deposits as direct deposits for the new account offer. That includes payroll deposits from your employer listed as EFTs (e.g. “EFT Deposit [company name]”).
So if you’re planning to use your paycheque as your qualifying direct deposit, double check that it isn’t actually an EFT. Otherwise you may think you’re going to receive the cash bonus offer, only to find out later that you haven’t completed the qualifications for it.
Simplii Financial offers a very competitive referral program. It offers a $125 cash bonus when you refer a friend who signs up for a Simplii account, credit card or loan. Your friend will also get a $50 bonus for signing up.
If your referred friend sends an international money transfer through Simplii’s Global Money Transfer service, both you and your friend will earn a $50 cash bonus.
To refer a friend and qualify for Simplii’s referral bonus you have to meet the following conditions:
You’ll need to first get your unique Simplii referral info by signing into your mobile or online banking profile and selecting “Refer a friend.” You’ll then be given a unique link and referral code, which you can share with your friends.
Once your friends sign up using your link or code, and after completing a few setup actions, you’ll be given a $125 cash bonus and your friend will receive $50.
Yes, your friend will have to do more after signing up for an account before you can both receive the referral bonus.
If your friend uses your referral bonus to sign up for a Simplii chequing or savings account, they will have to deposit at least $100 within 6 months of opening the account and maintain a balance of at least $100 for a minimum of 30 days.
If your friend opens a credit card, they will have to spend at least $100 on the card within the first 6 months. Alternatively, if your friend opens a line of credit, they will have to borrow at least $100 from the account within 6 months,
Yes, it’s definitely worth considering switching to Simplii for one of its promotional offers because it typically offers some of the highest new account offers on the market for both its chequing and savings accounts.
As a bank, Simplii Financial is a division of the Canadian Imperial Bank of Commerce and is CDIC insured. It was founded in 2017, and has since grown to offer bank accounts, investment options, lines of credit, loans and mortgages.
Although Simplii offers some of the best promotions in Canada, other banks and credit unions are offering competitive promotions right now. Here are some other options you can use to compare with Simplii new account offers:
BMO Performance Chequing Account
Get up to $600 in cash bonuses. Earn $400 when you open a new BMO Performance Chequing Account and $150 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 4.75% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
BMO Premium Plan Chequing Account
Get up to $600 in cash bonuses. Earn $400 when you open a new BMO Premium Plan Chequing Account and $150 when you open a Savings Amplifier Account. Plus, earn an additional $50 when you add a second member and make it a BMO Family Bundle. Valid until March 3, 2025. Also earn a 4.75% bonus interest rate when you add a Savings Amplifier Account.
BMO New to Canada Performance Chequing Account
Earn up to $600 in welcome bonuses. Valid until March 3, 2025. Plus, enjoy no monthly plan fee for one year, and get a $100 Walmart Canada eGift card with the BMO NewStart Program.
RBC Signature No Limit Banking Account
Get $450 when you open an RBC Signature No Limit Banking Account. Apply by February 10, 2025.
RBC VIP Banking Account
Scotiabank Preferred Package
Earn up to $800 with a Scotiabank Preferred package and an investment plan. Valid until March 1, 2025. Plus, earn up to 5.35% interest for 3 months on your MomentumPLUS Savings Account.
National Bank The Total Chequing Account
Get $150 towards an eligible National Bank credit card you activate after opening a National Bank The Total Chequing Account.
National Bank Connected Account
Get $30 towards an eligible National Bank credit card you activate after opening a National Bank Connected Account.
BMO Performance Student Chequing Account
Earn a $100 cash bonus and enjoy six months of Domino’s Pizza (worth $95, one pizza per month) when you open a new BMO Student Chequing Account. Valid until February 28, 2025.
KOHO Earn Interest
Earn up to 5.00% interest with a high interest savings account. Pick a KOHO plan and opt-in to Earn Interest.
EQ Bank Personal Account
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