The verdict: $350 in cash for opening a free chequing account and setting up $100+/month of recurring direct deposits (paycheque, pension, government benefits, social assistance, or employment insurance) within 150 days of opening, then keeping it landing for four consecutive months. No monthly fee, no minimum balance, and about four months of runway to get in.
Who this is for: Anyone who isn’t a Simplii client and can route $100+/month of recurring direct deposits (paycheque, pension, or government benefits) into a new account for four consecutive months without a gap.
Your move: Open the Simplii No Fee Chequing Account before January 31, 2027, and set up your $100+/month recurring direct deposit with your first pay cycle after opening — then don’t touch the streak.
On this page
- What’s new this round
- The qualifying steps (exact)
- The timeline math: set it up now, collect in early 2027
- Fine print and watch-outs
- The bottom line
What’s new this round
Simplii’s welcome offer has rolled over: the old $300 cash + $50 Skip gift card deal is gone — its offer-terms page now returns a 404, and Simplii’s special offers page lists only the new deal (Simplii special offers page, checked 2026-10-03). The new round pays $350 in cash — $50 more cash than the old $300 — but asks for four straight months of recurring eligible direct deposits of $100 or more instead of three, and the deposits must be set up within 150 days of opening (Simplii No Fee Chequing page, checked 2026-10-03; Simplii welcome offers page, checked 2026-10-08).
Old vs. new, side by side:
| Old offer (ended Sep 30, 2026) | New offer (ends Jan 31, 2027) | |
|---|---|---|
| Cash bonus | $300 | $350 |
| Skip gift card | $50 | None (see note below) |
| Total value | $350 | $350 |
| Deposit requirement | $100+/month, 3 straight months | $100+/month, 4 straight months (set up within 150 days of opening) |
| Account fee | $0/month | $0/month |
The old offer’s end date was confirmed on Simplii’s live site on 2026-09-28; as of today its terms URL returns a 404 and the new offer is the only welcome bonus Simplii is advertising. Note the honest math: the headline total is the same $350 as before — the difference is that it’s all cash now, and it costs you one extra month of direct deposits. One thing disappeared entirely: the $50 Skip gift card component is not part of the new bonus. Simplii still advertises a free Skip+ membership with a $20 welcome voucher on orders of $40 or more as a separate, standalone exclusive offer — conditions apply (Simplii special offers page, checked 2026-10-03).
The qualifying steps (exact)
- Open a Simplii No Fee Chequing Account before the offer ends on January 31, 2027. This is Simplii’s new-account welcome offer — Simplii’s welcome offers page says to “apply for a new Simplii Financial No Fee Chequing account as the primary account holder by January 31, 2027” (Simplii welcome offers page, checked 2026-10-08).
- Set up a recurring eligible direct deposit of $100 or more per month within 150 days of opening the account. Qualifying deposits Simplii names: your paycheque, pension, government benefits, social assistance, or employment insurance direct deposits — at least $100 per month for 4 consecutive months (Simplii welcome offers page, checked 2026-10-08).
- Keep that direct deposit landing for 4 straight months — no gaps. Four consecutive months is the entire qualifying condition.
- The account itself costs nothing to hold while you wait: no monthly fees (Simplii No Fee Chequing page, checked 2026-10-03) and no minimum balance (Simplii welcome offers page, checked 2026-10-08). Free access to over 3,400 CIBC ATMs across Canada is included (Simplii No Fee Chequing page, checked 2026-10-03).
The timeline math: set it up now, collect in early 2027
Here’s why the long window matters. The offer runs to January 31, 2027 — roughly a four-month runway to open the account. But the bonus clock only starts when your deposits do, and Simplii gives you 150 days from account opening to set up the recurring direct deposit. Walk it through:
- Open in October 2026 and get your first eligible deposit landing in November.
- Four straight months of deposits: November, December, January, February.
- Requirements complete in February 2027 — Simplii says the cash reward “will be directly deposited to the new chequing account within 3 business days of all offer requirements being fulfilled” (Simplii welcome offers page, checked 2026-10-08). No waiting for the end of the month.
The practical move: open sooner rather than later, because the four deposit months have to fit after you open. Opening in mid-January means your deposit streak runs into May, and the 150-day setup window from that same opening runs to mid-June — but the window is only the deadline to set the deposit up; the four-month streak itself can run past it. What a late opening actually costs you is margin: delay the setup and you can miss the window entirely.
Fine print and watch-outs
- New-client definition: Simplii’s welcome offers page doesn’t publish a cutoff for this round. The closest Simplii-stated definition of a new client is in its Refer-a-Friend terms: a client “with no prior banking relationship with Simplii Financial since November 1, 2017.” That is the Refer-a-Friend program’s definition, not this offer’s — confirm your status during the application.
- “Eligible” direct deposit. Simplii names these: paycheque, pension, government benefits, social assistance, or employment insurance direct deposits — and they must be recurring (Simplii welcome offers page, checked 2026-10-08).
- Account-opening deadline vs. deposit-start deadline. The offer ends January 31, 2027, and Simplii requires the recurring direct deposits to be set up within 150 days of opening the account (Simplii welcome offers page, checked 2026-10-08). Start your deposit with your first pay cycle after opening and don’t delay.
- If you live in Quebec: Simplii’s banking services are not available in Quebec — stated in its application terms and its Refer-a-Friend terms (“residents of Canada (excluding Quebec)”). (Simplii Refer-a-Friend program terms PDF, checked 2026-10-03).
- The Skip+ membership is separate. The free Skip+ membership and $20 welcome voucher are their own offer, not part of the $350. Don’t factor them into the bonus math.
- A separate Refer a Friend program exists (stacking with the welcome bonus not confirmed) — the chequing page advertises $125 for the referrer and $50 for the friend (Simplii No Fee Chequing page, checked 2026-10-03). But the Refer-a-Friend terms state: “This Offer cannot be combined with any other offer or rebate unless otherwise specifically communicated by Simplii Financial” — and Simplii does not currently say otherwise. The friend’s qualifying actions are also different: open via the referral link, be a new client (no prior relationship since Nov 1, 2017), deposit at least $100 within six months and keep $100 in the account for 30 days; the $50 is paid within 30 business days of meeting those requirements. Do not count on the $50 stacking with the $350 (Simplii Refer-a-Friend program terms PDF, checked 2026-10-03).
The bottom line
$350 in cash for four straight months of $100+ recurring direct deposits into a free account, set up within 150 days of opening, paid within 3 business days of finishing the streak. It’s $50 more cash than the last round, the Skip gift card is gone, and it costs you one extra month of deposits. Set it up in October, finish the streak by February, and the $350 lands within days of your February deposit. Deadline to open: January 31, 2027.
See also: Cash Club’s bank bonus tracker — every bank bonus in Canada, updated weekly.