Simplii Financial is an online banking institution that provides a range of financial services, including no-fee daily banking, loans, credit cards, and investment options. As a division of CIBC, the company aims to simplify personal finance for Canadians by offering accessible banking solutions without the burden of monthly fees or minimum balance requirements. Targeting individuals seeking straightforward and efficient banking experiences, Simplii Financial offers products such as the Simplii Cash Back Visa Card, which allows customers to earn cash back on everyday purchases. Customers can manage their accounts online or via mobile devices, ensuring convenient access to their finances anytime, anywhere. With a focus on transparency and ease of use, Simplii Financial caters to a diverse clientele looking for reliable and cost-effective banking solutions.
Reviews for Simplii Financial reveal a predominantly negative sentiment, with many customers expressing frustration over poor customer service and account management. While some reviewers appreciate the bank's service and mortgage inquiry process, citing timely responses from staff, the overwhelming majority report significant issues.
Common complaints include long wait times to reach customer support, with some waiting over an hour, and unhelpful or rude representatives. Customers also highlight problems with account functionality, such as delayed cheque clearing and faulty debit cards. Additionally, there are serious concerns regarding security, with reports of inadequate responses to fraud incidents. Overall, the sentiment leans heavily towards dissatisfaction, with many urging potential customers to avoid Simplii Financial.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 1.8 | 25 | 100% | -0.2 | ● Low |
Monthly average rating from reviews written by people · latest review Nov 2025.
| Month | Average | Reviews |
|---|---|---|
| Aug 25 | 1.9 | 8 |
| Sep 25 | 1.6 | 7 |
| Oct 25 | 1.3 | 4 |
| Nov 25 | 2.2 | 6 |
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 25 most recent reviews.
“Actually ide say most th color scheme sucks but customer service smashes tangerine, they process all my mobile depois...”
“I've tried calling multiple times to the fraud department as directed by their text message”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Banks.
| Company | Overall | Legit | Service | Website & app | Trend | Reviews |
|---|---|---|---|---|---|---|
| 1.8 out of 5 (poor) | 100 out of 100 | 1.9 out of 5 (poor) | 1.7 out of 5 (poor) | — | 25 | |
| 4.9 out of 5 (good) | 100 out of 100 | 5.0 out of 5 (good) | 4.8 out of 5 (good) | +1% | 321 | |
| 4.2 out of 5 (good) | 100 out of 100 | 3.3 out of 5 (fair) | 3.0 out of 5 (fair) | — | 1,200 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.9 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.0 out of 5 (good) | — | 1,060 |
Bottom line: Simplii Financial is #5 of 5 on overall rating in this group. On service, Ben S. Digital Change scores higher (5.0 vs 1.9).
25 reviews of Simplii Financial. Filter by what matters to you.
Over a year ago
After years of dealing with regular banks & being screwed over & bad service, we switched to Simplii Financial. (plus no banking fees) I don't have to call or contact them often, but when I do, I'm me... See more
Over a year ago
I phoned in to activate my line of credit and increase the credit limit. The first rime I phoned in, they put me through to the correct department, within 3 minutes the line cut off, like someone pur... See more
11 months ago
I had inquired about a mortgage on line with Simplii. I was contacted by a Amit Thakkar. He took all my information in a timely manner. I was told that someone from the mortgage department would conta... See more
Over a year ago
worse bank in Canada, Their security system for e-transfers allow hackers to steal money from you, and they dont hold any responsibility for their system mistakes. Very disappointing I thought I was d... See more
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After years of dealing with regular banks & being screwed over & bad service, we switched to Simplii Financial. (plus no banking fees) I don't have to call or contact them often, but when I do, I'm met with competent, polite service and a solution has been reached. It is a fresh change from other Banks I've delt with over the phone or in person.
I phoned in to activate my line of credit and increase the credit limit. The first rime I phoned in, they put me through to the correct department, within 3 minutes the line cut off, like someone purposely did it. I phoned back again and I got put through to the correct department again. I have it 30 minutes of waiting and then hanged up. Royal Bank will get my business.
I had inquired about a mortgage on line with Simplii. I was contacted by a Amit Thakkar. He took all my information in a timely manner. I was told that someone from the mortgage department would contact me in about 48 hrs. that was 5 days ago and I have not been contacted.
worse bank in Canada, Their security system for e-transfers allow hackers to steal money from you, and they dont hold any responsibility for their system mistakes. Very disappointing I thought I was dealing with a real bank and they let hacker just take your money. I am taking my business somewhere else and I hope everyone else do it too before they loose money
terrible terrible terrible. had me on the phone for almost 2 hrs waiting both times on different occasions for someone to get on the phone. i applied more then 2 weeks and haven't hard from anyone. i called and they said they were still work on my file. asked why its taking so long. they said sometimes the online does this. interesting. Then i had to call back again the following week and was then told i was wasn't approved. with no explaining why. but at the least they could have called me or sent me an email to let me knew. if i didn't call today i would have continued to be waiting. so unacceptable having me as a customer waiting and couldn't even let me know so i could move on. Simplii Financial a scam and not recommended
The loan person operator basically laughed at my family for not making enough money. Very upset how many get free hotel rooms. I wonder why it's not enough, to many free loaders in the system. Maybe I should start laughing at them and join the hate train.
I highly recommend that you DO NOT bank with Simply Financial or CIBC for that matter. I have had a lot of issues with these people and therefore taking all my money out.
Sometimes the reps are rude. I've had a manager make accusatory assumptions and dominate the conversation until I matched her tone, she double checked and corrected herself but didn't apologize. Again tonight, the manager I spoke with was condescending, his disrespect made me regret calling and I left me with anxiety. I avoid using Simplii but it has its benefits.
NEGATIVE A THOUSAND STARS! This is the ABSOLUTE worst bank. STAY AWAY! Customer service is terrible. They all spin tale after tale with inconstant information. I'm in the process of closing my account. STAY FAR AWAY FROM THIS BANK. I'd rather keep my finances in a shoe box.
Rishi at the fraud contact center is absolute trash! He takes WEEKS to contact you and then when you're the victim of a scam they wash their hands and say no we can't refund you?! Hell no! I'm taking these fools to court. I know someone else who got their money back on the same situation and am going to sue these pricks
No matter how long I wait on the call, hours each day, for three days straight. NO ONE WILL ANSWER. I'm starting to think no one even works at this company. Do they even AHVE customer service? What the hell is wrong with this company? How is disallowing access to people's money and disallowing access to any contact with them legal? These people are beyond trash. NEVER DO ANY BUSINESS WITH SIMPLII FINANCIAL. I'd even go as far as to say never do business with CIBC, who is supposed to be responsible as the parent company, but is also doing nothing. THE WORST COMPANY I HAVE EVER DEALT WITH IN MY LIFE.
Can’t believe it 19 years I’ve had a mortgage here and my lawyer can’t even get ansers to close my house sale on time . So pathetic !!!!
We opened Simplii Financial accounts while working in Canada, but things quickly went downhill. After trying to make an international transfer of our wages, the bank suddenly blocked all transfers. They then requested additional documents, which we promptly provided — yet instead of restoring access, we were eventually forced to close our accounts. What followed was 416 minutes of phone calls (plus countless 30–60 minute callback waits). Most calls started from scratch, as if there were no internal notes or communication between agents. It took weeks of effort just to finally be allowed, under supervision, to transfer our own funds to a new bank account elsewhere. Simplii Financial advertises “no service fees” — and now we understand why: there’s hardly any service at all. The only thing we’ll remember fondly is their hold music, which will probably haunt us forever.
I ordered a new debit card because mine was giving me problems. Apparently the order was never fully completed and nothing was sent. I waited almost two weeks before calling them. And they just act like its no big deal. Trash corporation with trash customer service. I'll be taking my money elsewhere. And they wouldn't waive the courier fee to get the card sooner.
Yes the colour's are hip and not for alot of us. Actually ide say most th color scheme sucks but customer service smashes tangerine, they process all my mobile depoisted pay cheques in 4 business days. Everyother bank over 1500$ is up to 8days, like tangerine holds it for the full 8 day blanket hold. Simplii by far is the best digital banking available at the moment. They have some things to work on lioe everyone else. But so far simplii is superior
Useless app (didn't work on 3 different phones). Waiting on customer service for over an hour on multiple occasions. Froze my card because I made a $130 purchase of things I purchase regularly. Failed to unfreeze account via text message I was sent. Lied in the customer service message about unfreezing my account. Basically, total failure from this company. Absolutely pathetic. You'd be better off keeping your money under your matress. At least then you'd have access to it...
I can’t believe how people are allowed to deal with our money if there not capable of being about to help with issues needed. I have am account I want to close it has a positive balance of $2.04 and I want it closed but the inconstant idiots are not capable of doing what’s needed this is very scary there responsible for millions of dollars of people’s money but the brains of the people working at these banks are the size of peanuts.
I opened a chequing account at Simplii Financial over 2 months ago. I've had two significant issues. First when purchasing a new car, Simpilii Financial restricted me to only $500 daily limit for debit card transactions, when I had over $7000 dollars cleared and available sitting there. I had to call in several times to get "APPROVAL" to use "MY OWN MOENY" to buy a a car. They refused to accommodate me, until onetelephone agent was able to convince a manager to let a one time transaction happen. I couldn't believe it. They made it seem I should be happy that I was able to do that too. Also I have been waiting for over two months to receive the cheques for my chequing account. Even though their website says they take max 10 Business days. Unbelieve, useless and I don't keep any money in this account. At least it does not cost anything.
I’ve been banking with simplii since 2017. I’ve had tons of issues with them such as the cheques doesn’t clear til a week, rude representatives and almost every time I need to check online banking they’re closed for maintenance. Now for the credit card side. I only signed up because my other credit card was lost. They never increased my credit limit even though my credit score is over 800 and I’ve never skipped a payment and pay in full all the time. Now I don’t use the credit card anymore as there are more beneficial cards. I’ve only used it once last month and I got a representative calling me telling me that I need to make a payment as it’s due in a couple of days. I never had one credit card company call me to pay and when I went on vacation I had $8k credit card debt and they didn’t call me about it. I just took an interest hit. I of course told the rep off about all of this and he said if you don’t pay you’ll ruin your chances of a credit limit increase and I said simplii has never increased my credit limit since I joined! I only owed $200 too! They’re bombarding me for $200?! Out of my 12k credit?! What a joke
For a bank that *only* has telephone support, no in-branch services, they should answer their phone. I was on hold for 75 minutes to help my elderly mom with an issue. And then when they finally answered they wouldn't help us because we were both on the phone, and they said they could only deal with her directly. (Which is completely false! We called together a week prior and they helped her even though we were both on the line. And no other banks have had these concerns as long as the account owner gives permission to speak about account particulars with me on the line.) Anyways. Terrible bank. I don't understand why anyone would ever bank there. I'll be helping my mom close her account ASAP and move her banking to somewhere respectable.
Simplii Financial is an online banking institution that provides a range of financial services, including no-fee daily banking, loans, credit cards, and investment options. As a division of CIBC, the company aims to simplify personal finance for Canadians by offering accessible banking solutions without the burden of monthly fees or minimum balance requirements. Targeting individuals seeking straightforward and efficient banking experiences, Simplii Financial offers products such as the Simplii Cash Back Visa Card, which allows customers to earn cash back on everyday purchases. Customers can manage their accounts online or via mobile devices, ensuring convenient access to their finances anytime, anywhere. With a focus on transparency and ease of use, Simplii Financial caters to a diverse clientele looking for reliable and cost-effective banking solutions.
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