Does Simplii Financial charge a monthly fee?

No. Simplii Financial's No-Fee Chequing Account has a $0 monthly fee with no minimum balance. The High Interest Savings Account also has no monthly fee. This is Simplii's primary advantage over CIBC's own chequing accounts, which charge $4.95–$29.95 per month.

Does Simplii charge for Interac e-Transfers?

No. Simplii Financial offers unlimited free Interac e-Transfers — both sending and receiving. There is no per-transfer charge. This is included in the No-Fee Chequing Account. The standard daily e-Transfer send limit is $3,000.

Does Simplii charge ATM fees?

Simplii customers can use CIBC's approximately 3,400 ATMs across Canada fee-free. Using ATMs outside the CIBC network will result in operator surcharges (typically $1.50–$3.00) which Simplii does not reimburse. Simplii does not have its own ATM network.

Does Simplii charge NSF fees?

Yes. Simplii Financial charges an NSF fee for returned or declined transactions due to insufficient funds. The NSF fee is approximately $45. Simplii does not offer overdraft protection on the No-Fee Chequing Account. Transactions that exceed your balance are declined.

Are there fees for Simplii savings accounts or GICs?

No. The Simplii High Interest Savings Account, TFSA, and RRSP savings accounts have no monthly fee and no minimum balance. GICs have no management fee. Interest is calculated daily and paid monthly on savings accounts. GIC interest is paid at maturity or annually depending on the term.

Simplii Financial Fees 2026 — No Monthly Fee and Free CIBC ATM Access

Simplii Financial charges $0 per month — no monthly fee, no minimum balance, no transaction fees, and no charge for Interac e-Transfers. CIBC ATMs are free. The only regular fee to watch is the NSF fee of approximately $45.

Quick answer: Simplii monthly fee: $0. Transactions: free. e-Transfers: free. CIBC ATMs: free. NSF: ~$45.

Why Simplii’s $0 Fee Matters

If you switched to Simplii from CIBC’s Everyday Chequing account ($14.95/month) and eliminated the monthly fee entirely, you would save $179.40 per year. From CIBC’s Smart Plus account ($29.95/month), that saving rises to $359.40 per year. Over five years, that is nearly $1,800 back in your pocket — without changing anything about how you bank.

The $0 fee works because Simplii is a digital-only bank. No branch network to maintain, no paper statement printing, no teller wages. Those savings are passed on to customers. The tradeoff is that in-person banking requires either a CIBC branch visit or a call to Simplii’s phone line.

Simplii Financial Full Fee Schedule 2026

Service	Fee
Monthly account fee	$0
Minimum balance	None
Transactions (unlimited)	Free
Interac e-Transfer (send)	Free
Interac e-Transfer (receive)	Free
CIBC ATM withdrawals	Free
Other ATMs	Operator surcharge (not reimbursed)
Mobile cheque deposit	Free
NSF / returned item	~$45
Stop payment	~$10
Paper statement	Digital only ($0)
Overdraft	Not available
International wire (outgoing)	Not supported — personal accounts

Understanding the NSF Fee

NSF stands for Non-Sufficient Funds. It happens when a transaction — a cheque, pre-authorized debit, or bill payment — hits your account when the balance is too low to cover it. Simplii charges approximately $45 per NSF event.

Simplii does not offer overdraft protection. That means rather than covering the shortfall and charging you a small overdraft fee, Simplii simply declines or returns the transaction, and you still get charged the NSF fee.

How to avoid NSF fees:

Set a low-balance alert in the Simplii app (tap Notifications → Balance Alerts)
Keep a buffer of at least $100–$200 in your chequing account
Use the Simplii automatic savings feature to move surplus to savings after each payday, keeping what you need for bills in chequing
Review upcoming pre-authorized payments in the app before your balance drops

Simplii vs. CIBC: What You’re Saving

Account	Monthly Fee	Annual Cost	Transactions
Simplii No-Fee Chequing	$0	$0	Unlimited
CIBC Smart Tier 1	$4.95	$59.40	12/month
CIBC Smart Tier 2	$9.95	$119.40	25/month
CIBC Smart Tier 3	$14.95	$179.40	Unlimited
CIBC Smart Plus	$29.95	$359.40	Unlimited

Simplii is essentially CIBC’s infrastructure at $0 cost, with the tradeoff of no branch access.

Non-Network ATM Fees

Simplii’s free ATM access applies only to CIBC’s ~3,400 ATMs. If you use an ATM from another bank (RBC, TD, Scotiabank, BMO), the ATM operator charges a fee — typically $1.50 to $3.00 per transaction. Simplii does not refund these fees.

If you regularly need ATM access anywhere in Canada without extra charges, consider EQ Bank, which reimburses ATM fees at any Interac ATM (up to a monthly limit). See the EQ Bank vs Tangerine vs Simplii comparison.

Simplii vs. Other No-Fee Banks

Bank	Monthly Fee	ATM Access	e-Transfers	NSF Fee
Simplii	$0	CIBC ~3,400	Free	~$45
Tangerine	$0	Scotiabank ~3,500	Free	~$45
EQ Bank	$0	Any (reimbursed)	Free	~$45
Wealthsimple Cash	$0	Any (reimbursed)	Free	N/A

Stop Payments

If you’ve written a cheque and want to cancel it before it clears — because it was lost, stolen, or the payment is disputed — Simplii charges approximately $10 per stop payment request. Contact Simplii at 1-888-723-8881 to initiate a stop payment. You’ll need the cheque number, payee name, and the amount.

Note: stop payments can only be placed on cheques that haven’t yet cleared. Once a cheque has been processed, a stop payment is no longer possible.

Paper Statements

Simplii is a fully digital bank. There are no paper statements. All account statements are available in the Simplii app and at simplii.com, downloadable as PDF. This is also how you generate a void cheque PDF for setting up direct deposit.

Tips for Keeping Fees at $0

Use CIBC ATMs only — the Simplii app shows nearby fee-free locations
Set low-balance alerts — avoid NSF by staying aware of your balance
Switch pre-authorized debits to post-payday dates — align bill due dates to the day after your direct deposit
Use e-Transfers instead of cheques — free, instant, and no stop-payment risk
Download your statement monthly — Simplii retains up to 7 years of statements digitally

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy