Business · Companies · 1 hr ago
Simplii Financial adds new account and app tools for self-directed customers
CIBC-owned Simplii Financial is adding a new account and app tools for customers who want to manage their own money.
The digital bank says its new Simplii Account is part of the changes.
A pilot this month will test folders that let customers set money aside for bills, spending or savings goals and automatically divide paycheques.
The pilot will also include backup payments to help avoid insufficient-funds fees on certain transactions.
Simplii says it plans to add shared folders in the coming months, including for household expenses.
A partnership with CIBC Investor’s Edge lets customers invest while accessing Simplii funds.
The changes target people who value control and good value, rather than a particular age or income group.
The new tools could make everyday money management easier for Simplii’s nearly two million clients.
CIBC-owned Simplii Financial is launching a new account and adding banking and investing tools aimed at self-directed customers.
The new Simplii Account is being introduced alongside a pilot of app-based folders for organizing money.
The folders can be used for bills, spending, savings goals and automatically distributing paycheques.
A pilot payment backup feature is also intended to reduce the risk of insufficient-funds fees.
Simplii has partnered with CIBC Investor’s Edge so customers can invest while accessing funds from their Simplii account.
- Who
- Simplii Financial, a direct banking brand owned by CIBC, is introducing the updates.
- What
- It is launching the Simplii Account and piloting app folders and a payment backup feature, among other tools.
- When
- The news release was reported on Tuesday, October 13, 2026; the folders feature is piloting this month.
- Where
- The tools are being added to Simplii’s mobile app and banking services. The article does not state a specific location.
- Why
- Simplii says the tools are intended for customers who want control over how they manage their money.
This story does not have two clearly opposing sides.
Simplii became a direct banking brand after CIBC and Loblaw ended their nearly 20-year President’s Choice Financial banking partnership.
Simplii announced a new account type and new banking and investing features.
Simplii said its folders feature and payment backup feature were being piloted this month.
Simplii said it would roll out additional features, including the ability to share folders.
- New account
- Simplii Account
- Ownership
- Simplii Financial is owned by CIBC.
- Client base
- Nearly 2 million clients
- Folder uses
- Bill payments, spending, vacation savings and emergency funds
- Investing partner
- CIBC Investor’s Edge
What people are saying
Our clients are self-selecting around their attitude toward money and how they want to manage their money
It’s not about age and it’s not even about income or complexity of financial needs. It’s about people who want to be in control, who want good value.
In the spirit of giving you control, you get to self-select your folders or self-build your folders in your mobile app with a few clicks
Which means that we’re not going to chase flavours of the day, and we’re not going to chase speculative things such as prediction markets and things like that
Sources
Related news
RBC analyst sees strong finances for Canadian oil majors, cuts Cardinal rating
Montreal aging-products company expands U.S. operations amid trade disruption
Fraudsters reportedly placed a six-figure trade in a TD cash account
Simplii Financial introduces self-service banking tools as it seeks growth
Green Shift Agrees to Sell Argentina’s Los Altares Project to Myriad Uranium
Industry groups urge Ottawa to raise the RRSP conversion age
Hamilton and Westcourt launch a fund combining nine ETFs
Canada loses 68,000 jobs in September as unemployment rate rises to 6.5%
Gurobi’s Decision Intelligence Summit is set for Prague
CSG becomes largest shareholder in Canada's MDA Space
Stelco says it will proceed with Ontario layoffs despite Ottawa's warning
