Simplii Exchange Rates Overview

Simplii Financial was opened in November 2017, after CIBC acquired the daily banking portion of PC Financial and rebranded it under the current name. Despite not having physical locations, Simplii still offers several services offered by other banks, including mortgages, lines of credit, credit cards, chequing and savings accounts, investment accounts, GICs, and several registered accounts. Currently, Simplii does not offer a USD account to hold funds; therefore, purchasing USD is facilitated by cash deliveries and ATM withdrawals, with an upper limit of $2,500.00.

Simplii is a completely online service, offering cash and physical exchanges at their CIBC branches. You can contact Simplii about their exchange rates and other exchange services at 1-866-236-9106. This may be a convenient option if you already have an account with them and are looking for a smaller amount of foreign currency for travelling.

Accessing Simplii’s Exchange Rates

Simplii does not post their exchange rates online; however, individuals can call Simplii Financial representatives to inquire about the current exchange rate being offered. Additionally, individuals must have a Simplii account to access these exchange rates.

Alternatives to Simplii’s Foreign Exchange Services

There are several alternatives to Simplii available to you when evaluating where you should conduct your foreign exchange transactions. All five major Canadian banks (BMO, CIBC, RBC, Scotiabank, TD) offer foreign exchange services. You can access the resources at the bottom of this page to compare Simplii’s exchange rates with that of the other big banks, as well as most major credit unions. If you are looking to do a currency transaction for a larger amount ($2000+), you should shop around in order to ensure you get the best foreign exchange rate. At KnightsbridgeFX we offer a best rate guarantee, beating bank rates by 1-2%. If you are looking to make a larger transaction, give us a call at 1-877-355-5239 to get a free, no-obligation comparison quote.

Compare Other Simplii Products

Simplii offers a full complement of financial services, including bank accounts, lines of credit, registered accounts, credit cards, GICs, mortgages, and money transfers. Compare your current provider’s aforementioned financial services to Simplii’s offerings to ensure your financial needs are being met in the best possible way.

More on Simplii Financial

Simplii was established in 2017, after CIBC acquired the daily banking portion of PC Financial. Simplii provides a wide breadth of service to nearly 2 million clients. Simplii Financial is a wholly-owned subsidiary of the Canadian Imperial Bank of Commerce.

Exchange Rates from Other Financial Institutions