Company Information

Get to know Simplii Financial

Simplii Financial is the direct banking division of the Canadian Imperial Bank of Commerce (CIBC). Launched in 2017, it was established after CIBC and Loblaw Companies ended their 20-year PC Financial venture. Simplii absorbed the nearly two million PC Financial clients, offering them a seamless transition to a digital-first banking platform. The company's mission is to provide straightforward, no-fee banking services, including chequing and savings accounts, credit cards, mortgages, loans, and investment products, accessible 24/7 through its online and mobile platforms. As a part of CIBC, deposits held with Simplii Financial are eligible for protection by the Canada Deposit Insurance Corporation (CDIC).

Industry

Financial BankingPRIMARY
Financial Other Service

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Simplii Financial

Canada

Founded in

01 Nov 2017 (8 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(77 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.