Simplii Financial is one of the best online banks in Canada and an operating division of CIBC. The bank offers a wide range of banking services that compete well with traditional brick-and-mortar banks.
While Simplii is better known for its high-interest savings accounts, its no-fee chequing account also outshines some of the competition.
With the Simplii no-fee chequing account, you can make free daily transactions and access free personal cheques.
If you’re looking to set up direct deposit or pre-authorized payments on your Simplii no-fee chequing account, you may need to provide a void cheque.
This article discusses everything you need to know about the Simplii void cheque including the alternatives.
What is Simplii Financial Void Cheque?
A Simplii Financial void cheque refers to a blank cheque with no cash value. Also known as a specimen cheque, a void cheque can’t be used to withdraw money from your Simplii chequing account.
Instead, the void cheque provides easy access to all the banking information required to deposit or withdraw money from your account.
A Simplii Financial void cheque is usually required when looking to set up a direct deposit and pre-authorized payments from your Simplii chequing account.
Because it has the word “VOID” written boldly on its front, a void cheque’s sole purpose is to provide banking information.
Some of the key information required on a void cheque includes transit number, institution number and account number.
Continue reading to learn what the banking information entails and ways you can also access them besides void cheques.
Why Do You Need a Simplii Void Cheque?
With rapid technological advancement, we now have various electronic payment options that make transactions easier.
As a result, we rarely use cheques to make transactions these days. So why a void cheque? The following are the major reasons why you need a Simplii Financial void cheque.
1. Direct Deposit
To confirm your banking information, your employer will request a void cheque which contains all the required information.
As an individual, you don’t have to keep all your banking information in your memory or try to guess them. A void cheque provides an easy and readily available way to confirm your banking details whenever you need them.
2. Pre-Authorized Payments
Pre-authorized payments help you stay on top of your regular payments, avoiding late payment fees and credit card damage.
Whether it’s a loan payment, credit card payment, mortgage payment, utility payment, rent payment or insurance, setting up pre-authorized payments is necessary.
Like direct deposit, you will also need to provide your banking information when setting up pre-authorized payments.
The purpose of a void cheque here is not limited to accessing your bank information, but to confirming the validity of the information.
3. Easy Access
A void cheque provides easy access to your banking information. Transit number, institution number and account number are all found under a void cheque.
These are the information most institutions look for when trying to deposit or withdraw money from your chequing account.
By having all the information in one place, you can easily share them without worrying about errors.
4. Cheque Destruction
Are you looking to destroy your Simplii cheques because you no longer need them? Perhaps you made a mistake while writing a cheque and need to use another cheque.
Throwing away the cheque like that will make you vulnerable to fraudsters, leading to unauthorized withdrawals from your account.
However, by writing “VOID” across the cheque, you have destroyed its cash value and can safely throw it away.
How to Get a Void Cheque From Simplii Financial
Before you can get a Simplii Financial void cheque, you need to have a chequing account with the bank.
If you do, it means you already have the free personalized cheque book of Simplii Financial. All you need is to pick one of the cheques and write “VOID” across the front.
There you have a void cheque which you can share with your employer, credit card provider, landlord, insurance company, loan provider etc.
If you have exhausted your Simplii cheque book, you can get the void cheque through the Simplii online banking portal.
The following is a step-by-step process on how you can download or print a void cheque on Simplii Financial online portal:
- Login to your Simplii Online Banking account
- Navigate to the “Account Details” or “Order Cheques” page
- Click on “Get Void Cheque/Direct Deposit Info”
- Download or print the void cheque
That’s how to get a void cheque on Simplii Financial offline and online.
How to Read Simplii Financial Void Cheque
It’s one thing to get a Simplii void cheque, it’s another thing to know how read it. Basically, if you know how to read a normal cheque you can read a void cheque.
A void cheque is just like a normal cheque but the only difference is that it doesn’t have a cash value. The absence of this cash value makes a void cheque useful only for getting banking information.
If you’re not familiar with the numbers of a void cheque, you will likely be confused about what banking information is used on a void cheque.
The consequence of this is that you may find yourself looking for a void cheque when you don’t actually need it.
Should you know the key information required on a void cheque, it may be optional to look for them cause you may have them elsewhere.
Knowing how to read the Simplii void cheque means understanding the key information on the void cheque. What is this key information? Let’s take a look.
1. Simplii Financial Void Cheque Transit Number
Transit number, also known as branch number, refers to the assigned branch number of a given bank. The number usually comes with 5 digits.
The transit number of Simplii Financial is 30800. This number is the same on all Simplii bank accounts. The reason is that Simplii is an online-only bank with no branches.
Unlike brick-and-mortar banks that have different transit numbers per branch, online-only banks usually have one transit number because they are branchless.
2. Simplii Financial Void Cheque Institution Number
The institution number or financial institution number is the number assigned to a given bank or financial institution. In Canada, the institution number comes in 3 digits.
The institution number of Simplii Financial is 010, which is the same as that of its parent company, the Canadian Imperial Bank of Commerce (CIBC).
If you add the branch number and institution number of Simplii, you will arrive at the 30800-010 routing number of the bank.
Learn more: The Full List of Canadian Bank Institution Numbers
3. Simplii Financial Void Cheque Account Number
Your account number also shows up on a void cheque. As expected, the digits vary from one financial institution to the other. However, all Simplii account numbers come in 10 digits.
All these key banking information are located at the bottom of the void cheque, usually on the left side.
Other important information on a void cheque that some financial institution consider include:
- Your name and address
- Beneficiary (payee) name
- Bank name and branch address
Simplii Financial Void Cheque Alternatives
Simplii Financial makes void cheques accessible to its clients through a cheque book, online portal and mobile app.
But if you can’t access the void cheque through these means, there are various ways you can get all the banking information you need.
One of such options is a direct deposit form. The Simplii no-fee chequing account allows you to set up direct deposit through your account.
When you set up direct deposit, it means you have actually provided your employer with all the banking information that exists on a void cheque.
As a result, you can simply request a copy of the direct deposit form to access the banking information you need.
Another way to get all the banking information is by requesting a letter from Simplii. All you need is to ask the bank to provide you with the banking information which may cost you a fee.
You can contact Simplii by phone at +1 888-236-6398 or email them at [email protected].
At the end, how you access the banking information will depend on the method your recipient wants. There are times when you don’t have an option but to provide a void cheque.
How Do I Get a Direct Deposit Form for Simplii Financial?
Setting up direct deposit is the best way to get fast and instant payment from your employer. The Canada Revenue Agency (CRA) also recommends setting up a direct deposit to receive government benefits fast.
By setting up direct deposit, you will have money deposited automatically into your account without your involvement.
If you’re looking to set up a direct deposit on your Simplii account, all you need is to follow the steps below:
- Login to the Simplii Online Banking portal
- Navigate to the direct deposit page
- Print and sign the pre-filled deposit from
There you go. You can now submit the form to your employer or payer to start receiving direct payment.
How Do I Order Cheques?
As a Simplii no-fee chequing account user, you can order free personalized cheques and have them delivered by mail.
You can order the cheque online or by calling the Simplii representative at +1 888-723-8881. Below are the steps on how to order the cheque online:
- Login to the Simplii Online Banking
- Click on “More Services” on the left menu
- Click on “Order cheques” under “Account Services”
- Follow the instructions to complete your order
Once you have your cheque delivered, you can make a cheque deposit at CIBC ATM or on a mobile app.
All you need to make a cheque deposit through the Simplii Financial Mobile Banking App is to download the app and snap the front and back of the cheque.
About Simplii No-Fee Chequing Account
There’s no complete discussion of the Simplii void cheque without an overview of the Simplii no-fee chequing account.
This is because the void cheque we have been discussing above is part and parcel of the chequing account.
That said, the Simplii no-fee chequing account is a chequing account with no monthly fees. The account also offers access to free personalized cheques with up to 0.05% interest on your balance.
Even more interesting is the fact that the account doesn’t require a minimum balance or charge a fee on everyday transactions.
In addition to overdraft protection, the account allows you to set up pre-authorized bill payments, and direct payroll and pension deposits.
With this and lots of other unique features, the Simplii Financial no-fee chequing account competes significantly with both traditional and online chequing accounts.
Learn more: Simplii Financial No-Fee Chequing Account Review
Some FAQs on Simplii Void Cheque
The void cheque on the Simplii app is located under the “Account Details” or “Order Cheques” page.
You can find your Simplii Financial branch number at the bottom of your cheque or on your direct deposit form. The branch number is in 5 digits which is 30800 for all Simplii Financial bank accounts.
You can find all your banking information on the Simplii mobile app through the following steps:
Login to your account on the Simplii mobile app
Click on your Simplii account
Navigate to the “Account Info” page
Once you do so, you will find a Simplii branch number, institution number and your account number.
Sure, so long as your account details didn’t change following Simplii rebranding, you can make transactions with your PC cheques.
Simplii doesn’t charge a cheque delivery fee, unlike other banks in Canada. The bank offers its customers free personalized cheques upon request.
Final Thoughts
A void cheque provides an easy way to access all your banking information in one place. Depending on how you want to access it, a Simplii void cheque is available offline and online.
Hopefully, now you understand how to get a Simplii void cheque and the benefits of doing so. You also understand other ways you can get your banking information other than a void cheque.
If you need more clarification about this guide, kindly draw my attention in the comment section and I will respond as soon as possible.
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