Simplii Financial does not offer business accounts in Canada. However, it does offer various other types of accounts to its users in Canada.
Simplii Financial is a Canadian financial institution offering various banking-related services to its users. Simplii Financial is the digital banking service of the Canadian Imperial Bank of Commerce (CIBC). It offers a simpler and to-the-point banking experience avoiding unnecessary complications involved in the banking process.
Does Simplii Financial offer Business Accounts in Canada?
Simplii Financial does not offer the service of business accounts in Canada but allows individuals with various other accounts, including savings accounts and various other banking-related services.
What does Simplii Financial offer?
The major accounts and services provided by Simplii Financial are:
High-Interest Savings Account: Simplii Financial offers high-interest savings accounts and allows you to earn more competitive interest rates on your savings account balance. The interest on this account is calculated daily and paid monthly, helping your money grow faster than other savings accounts in the banking sector.
No Minimum Balance Requirement: There is no minimum balance requirement for the Simplii Financial savings account. You can open an account with their customer support portal or mobile/web applications and start saving with any amount of your choice as per availability.
Foreign Currency Accounts: Simplii Financial offers services for maintaining foreign currencies in your foreign savings account. This account is of great benefit to individuals who travel to foreign countries and conduct foreign transactions.
Youth Savings Account: It also offers services of savings accounts to users under the age of 18. This promotes saving habits and also are helpful in the introduction to banking services.
Registered Retirement Income Fund Accounts (RRIF): This account is suitable for individuals who are near the age of retirement and require a consistent income source for their savings deposits.
Simplii Financial Account:
Simplii Financial savings accounts are eligible for deposit insurance coverage provided by the Canada Deposit Insurance Corporation (CDIC). This coverage protects eligible deposits up to $100,000 per depositor in case of a financial institution failure. Hence, users can contact simply financial for business banking-related solutions and to enquire about other services provided by them.