Simplii Financial has quietly built one of the best new customer bonus stacks in Canadian banking. Most people know about the $50 referral bonus — but there are two more bonuses sitting on top of it that most people miss. Here's the full picture.
How to Sign Up With a Referral Link
Simplii Financial doesn't use a referral code — instead, you sign up through a referral link that tracks the bonus automatically. Click the link below before creating your account to ensure the $50 referral bonus is applied.
Open a Simplii Financial account →
The Three Bonuses Explained
Simplii's new customer offer is structured in three layers. You can claim one, two, or all three depending on which products you open.
Bonus 1: $50 Referral Bonus
Who gets it: Anyone who opens an eligible account through the referral link.
Eligible accounts: No Fee Chequing Account, High Interest Savings Account, Personal Line of Credit, or Cash Back Visa Card.
How to unlock it: One of the following within 6 months of opening:
- Deposit at least $100 into a No Fee Chequing Account or HISA and keep it there for 30 days
- Spend or use $100 on your Cash Back Visa Card or Personal Line of Credit
This is the baseline bonus and the easiest to claim. Open any eligible account, meet the simple condition, and $50 is yours.
Bonus 2: $350 with a No Fee Chequing Account
Who gets it: New customers who open a No Fee Chequing Account and set up direct deposit.
How to unlock it: Add a direct deposit of at least $100 per month for 3 consecutive months. Qualifying sources include payroll, pension, or employment insurance.
What you get: A $300 cash reward plus a $50 Skip gift card — $350 in total value, on top of the $50 referral bonus.
This is the biggest bonus on the list and the most straightforward for anyone who gets a regular paycheque. Switch your direct deposit to your new Simplii chequing account for three months and the bonus pays out automatically.
Bonus 3: Up to $100 with the Cash Back Visa Card
Who gets it: New customers who open a Simplii Cash Back Visa Card.
How to unlock it: Spend up to $500 on eligible purchases in your first 3 months. Eligible categories include gas, groceries, drugstore purchases, and pre-authorized payments.
What you get: Up to 20% cash back on those purchases — worth up to $100.
This stacks on top of the $50 referral bonus and can be combined with the chequing account bonus if you open both products.
Can You Claim All Three?
Yes. The bonuses aren't mutually exclusive. If you open a No Fee Chequing Account, set up direct deposit, and also get the Cash Back Visa Card, you can earn:
- $50 referral bonus
- $350 chequing bonus ($300 cash + $50 Skip gift card)
- Up to $100 Cash Back Visa bonus
That's up to $500 in total value from a single sign-up session.
What Is Simplii Financial?
Simplii Financial is a direct banking division of CIBC — one of Canada's Big Five banks. It launched in 2017 as the replacement for PC Financial and has grown into one of the most popular no-fee banking options in Canada.
Because it's backed by CIBC, your deposits are CDIC insured up to $100,000, and you get access to CIBC's full ATM network across Canada at no charge. That's a significant advantage over newer fintech apps that don't have a physical ATM presence.
No Fee Chequing Account — Unlimited transactions, free Interac e-Transfers, and bill payments with no monthly fee and no minimum balance. A legitimate replacement for a traditional big-bank chequing account.
High Interest Savings Account — A competitive interest rate on your savings with no fees and no minimums. Works well as a parking spot for your emergency fund alongside the chequing account.
Cash Back Visa Card — A no-fee credit card that earns cash back on every purchase, with boosted rates on gas, groceries, and drugstore spending.
Is Simplii Worth Keeping After the Bonus?
The No Fee Chequing Account is genuinely one of the best free chequing accounts available from a major Canadian institution. If you're currently paying $10–$20/month in bank fees at one of the Big Five, switching to Simplii saves you $120–$240 per year — independent of any bonus.
The Cash Back Visa is a solid no-fee card for everyday spending, especially if you spend regularly on gas and groceries.
The HISA is worth keeping if you want your savings earning interest without the hassle of a separate institution.
How Simplii Compares to Other Banking Bonuses
Simplii's $50 base referral bonus is the highest straightforward banking referral bonus among the platforms we list. For context:
- KOHO — $40 for one purchase over $20, instant payout
- Neo Financial — $35 across two products
- Wealthsimple — $25 for a $100 investment deposit
None of these conflict with Simplii. KOHO is a prepaid card, Wealthsimple is an investing platform — you can hold all of them and collect every bonus.
Looking for more Canadian sign-up bonuses? Browse all current referral codes across banking, investing, and crypto.