Simplii Refer a Friend Promo: Up To $500 Bonus on Referral

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If you’re looking to pen an account at Simplii Financial, then this post about Simplii Refer a friend promo is for you.

Simplii Financial is one of the top Canadian online banks that has been helping its clients save and manage their money in a simple way.

In this post, you learn how you can earn up to $450 as a sign-up bonus when you use our Simplii referral link or Simplii Referral code.

In addition, it’ll cover how you can also earn up to $500 per friend you refer while introducing them to one of the best Canadian banks.

Ready? Let’s start…

Simplii Refer a Friend Promo

As a new Simplii financial client, you can get up to $450 when you sign up using a Simplii Referral link. There is no promo code required.

The referral bonus depends on the type of account you open:

  • $50: Sign up to Simplii Financial with this link
  • $4000: Simplii Mortgage
  • Extra $400: When you set up a $100 direct deposit for 3 straight months into your Simplii Chequing account

Getting started is simple.

Simply click here to visit Simplii Financial website, click “apply now” to begin the application process, then meet the conditions of the refer a friend offer to get your bonus.

If you’re applying for mortgage, give this Simplii Mortgage referral code “0009113871” to your mortgage specialist.

How to Qualify for the Simplii Refer a Friend Bonus

Once your account is opened, you’ll need to meet the Simplii refer a friend offer conditions before the bonus is deposited into your account.

The conditions vary depending on the account you open:

  • High Interest Savings Account: Deposit a minimum of $100 in your account within 60 days of opening the account and hold the balance for at least 30 days.
  • No Fee Chequing Account: Same as HISA. Deposit $100 within 60 days and hold for at least 30 days.
  • Cash Back Visa Card: Spend a minimum of $100 within 6 months of account opening
  • Personal Line of Credit: Draw or use at least $100 within 6 months of opening the account
  • Mortgage: fund the mortgage within 120 days of submitting the application

To receive the $400 bonus for setting up a direct deposit, you must receive an eligible deposit of at least $100 for 3 consecutive months.

Eligible deposits include your payroll, government benefits, pension and so on.

Just remember to use a Simplii refer a friend link or Simplii Referral code to get the bonus.

About Simplii

Simplii Financial is a full-service online bank that started operating in Canada in November 2017. It is owned by CIBC, one of the largest banks in the country.

The bank now serves more than 2 million clients and is recognized as one of the World’s Best Banks in Canada by Forbes – among several other awards.

Overall, Simplii is one of the best online banks in Canada if you’re looking for an online bank that handles all your financial needs.

Simplii Products

Simplii provides all the products and services you need to manage your money.

  • Deposit Accounts: No fee High Interest Savings Account and Chequing Account
  • Borrowing: Personal Line of Credit, Personal Loan, Secured Line of Credit, Creditor Insurance etc
  • Credit Card: Simplii Cash Back Visa Card
  • Mortgages
  • Investments: GICs, TFSAs, RRSPs, Mutual Fund Accounts and so on
  • International Money Transfer

Simplii HISA Promotional Interest Rate

New Simplii clients can earn a special interest rate of 6.00% from now till April 30, 2024.

The rate applies on deposits up to $1,000,000. Any additional amount above that, the rate drops to the regular rate of 0.40% -5.50%.

Some of the features of the Simplii high-interest savings account include the following:

  • No minimum balance requirements
  • Zero monthly and transaction fees

Check here for the best high-interest savings accounts in Canada.

How to Earn Money with Simplii Refer a Friend Promo

Simplii has one of the best refer-a-friend programs in Canada. By referring your friends to the online bank, you can earn up to $500 for each referral that signs up.

You get $50 when they open any of the deposit or credit products OR $500 when they get their mortgage from Simplii.

To start earning money with the Simplii Refer a Friend program, follow these steps:

  • Sign up for your own Simplii Account
  • Set up your online banking access
  • Log in and click on Refer a Friend (right side of the page)
  • Accept the terms and conditions
  • Copy your unique Simplii refer a friend link and code
  • Start sharing with your friends to earn extra cash

There is no cap on how many people you can refer or the maximum dollar amount you can earn.

Usually, other banks would put an annual or lifetime cap on how much you can earn from their referral program.

For example, EQ Bank also lets you earn by referring your friends through the EQ bank refer a friend program but your earnings are capped at $500.

Other Bank Account Promotions

In addition to the Simplii promotion, here are some other promotions available from other Canadian brands:

Simplii Refer A Friend Promo FAQs

How do I earn $400 bonus from Simplii?

Open a No Fee chequing account to receive a $50 welcome bonus, then set up a direct deposit of at least $100 to qualify for the extra $400. That’s a total of $450 in total bonus from Simplii. Just remember to use a Simplii referral link to get the bonus.

When will the bonus be deposited in my account?

The $50 cash bonus will be deposited within 15 business days after you meet the conditions. For the cash reward for a mortgage, the bonus is deposited at the end of the second calendar month after the mortgage is funded

How can I earn the extra $400 from Simplii?

To get the extra $400 bonus, simply open a Simplii No fee Chequing Account and set up a direct deposit of at least $100 to run for a minimum of 3 consecutive months.

Is there a limit on how much I can earn or how many people to refer?

No, there is no limit on the number of people you can refer under the Simplii refer a friend promotion program. That means you can earn thousands of dollars every year by referring your friends to the program.

Is Simplii Safe?

Not only is Simplii backed by CIBC, one of the Big 5 banks in Canada, your deposits at the bank is also covered by CDIC deposit insurance of up to $100,000 per insured category.

Simplii Refer A Friend Promotion (Up to $400 Bonus)


Simplii is a full-service online bank that serves more than 2 million clients. Get up to $400 when you open a new account. No promo code is required.

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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