Simplii Financial supports mobile cheque deposit through its app, and also allows cheque deposits at CIBC ATMs — giving Simplii clients two deposit channels, compared to the single mobile option available at EQ Bank and Tangerine. Standard mobile deposit limits are $5,000 per cheque and $10,000 per day.
Simplii Cheque Deposit Options
| Method | Available | Notes |
|---|---|---|
| Mobile deposit (app) | ✓ | $5,000/cheque, $10,000/day |
| CIBC ATM envelope deposit | ✓ | Limits may vary; 1–2 business day processing |
| CIBC branch teller | ✓ | Full branch service available |
| Scotiabank ATM | ✗ | Not applicable |
| USD cheques | ✗ | CIBC branch only for USD |
Mobile Cheque Deposit Limits
| Limit Type | Amount | Notes |
|---|---|---|
| Per cheque | $5,000 | Single cheque maximum |
| Daily limit | $10,000 | Resets at midnight ET |
| USD cheques | Not supported | CIBC branch required |
| Fund availability | $100 next day; remainder 4–7 days | Standard personal accounts |
How to Deposit a Cheque via Simplii App
- Open the Simplii app and log in
- Tap Deposit Cheque from the main menu
- Select the account to deposit into
- Enter the cheque amount
- Endorse the back: sign your name and write “For Simplii mobile deposit only” below your signature
- Photograph the front — all four corners visible, no glare, in good lighting
- Photograph the back — showing your signature and endorsement
- Review and submit
- Retain the physical cheque for 90 days, then shred
CIBC ATM Cheque Deposit
For cheques above the mobile limit or as an alternative to the app:
- Visit any CIBC ATM that accepts deposits
- Insert your Simplii debit card
- Select Deposit and then Cheques
- Follow the on-screen instructions (envelope or direct-feed depending on ATM model)
- The ATM confirms receipt; funds appear within 1–2 business days
CIBC ATMs are located at CIBC branches and Loblaw-banner grocery stores (No Frills, Zehrs, Real Canadian Superstore, Loblaws, Fortinos). This is the same network Simplii clients use for cash withdrawals and deposits.
Fund Availability Schedule
| Cheque Type | First $100 | Remainder |
|---|---|---|
| Standard personal cheque | Next business day | 4–7 business days |
| Government of Canada cheque | Next business day | 1–2 business days |
| Certified cheque or bank draft | Next business day | 1–2 business days |
| New Simplii account (< 90 days) | Longer hold possible | Up to 7 business days |
Simplii vs Competitors: Cheque Deposit Options
| Bank | Mobile Deposit | ATM Envelope Deposit | Branch Deposit |
|---|---|---|---|
| Simplii Financial | ✓ | ✓ (CIBC ATMs) | ✓ (CIBC branch) |
| Tangerine | ✓ | ✗ | Scotiabank teller (limited) |
| EQ Bank | ✓ | ✗ | ✗ |
| RBC, TD, CIBC, Scotiabank, BMO | ✓ | ✓ | ✓ |
Simplii is the only online bank that provides all three deposit channels. The CIBC ATM envelope deposit is a genuine practical advantage for clients who occasionally receive large cheques or who prefer not to rely solely on mobile deposit.