Simplii Financial Void Cheque: Everything you need to know to find and understand it

From pre-authorizing payments to getting paid, void cheques still come in handy… even though cheques are rarely used in Canada. The main reason you need a Simplii Financial  void cheque is to share your banking information with someone else.

Understanding Your Simplii Financial  Void Cheque

If you know what the numbers at the bottom of your Simplii Financial  void cheque mean, you can probably just share them… without having to go looking for a Void Cheque in your banking portal every time someone asks for one.

So, here are the important features of a cheque in Canada that you should be able to recognize by looking at one :

1. Your home address

This is the information you don’t need to look at a void cheque to know. However, it is often needed by those who ask you for a void cheque.

2. Your branch address

As Simplii Financial is an online only bank, there are no brick and mortar branches. Rather all clients share the same “branch”. The address to use is: 305 Milner Ave 5th Floor, Scarborough, ON M1B 3V4

3. Your branch transit number

This is a 5-digit number that identifies the MotusBank  branch to which your bank account is associated. Again, MotusBank is an online only bank so all customers share the same “branch” and therefore the same branch transit number, which is 30800. 

4. Your bank Institution Number

The institution number is a three-digit number that identifies the financial institution you are dealing with, regardless of the branch you have chosen. Simplii Financial’s is a part of CIBC and therefore uses the CIBC institution number 010. 

5. Your account number (or folio number)

The account (or folio) number is the identifier for your bank account. Without the transit number and institution number, it cannot be used to transfer money. As a result, it is the most sensitive information you will find on your void cheque, as it is the number that is associated with your bank account. This number varies in length depending on the financial institution but generally ranges from 7 to 12 digits. 

How to find your void cheque on the Simplii Financial  online portal

Before the Internet, a void cheque was a paper cheque with “SAMPLE” or “VOID” written on it to ensure that the cheque could not be used. If you have a chequebook, you can still do this. In fact, a void cheque is a document that contains all the information displayed on a cheque, so you can still do it that way.

For those who don’t want to waste paper or who don’t have a chequebook, it’s possible to get a void cheque from Simplii Financial by logging in to their online banking portal. Follow the steps below to download a void cheque in PDF in just a few clicks:

• Log in to your Simplii Financial account at the following link:  https://www.simplii.com/en/home.html. 
• Go to the “Account Details” or “Order Cheques” page. 
• Click on “Get Void Cheque/Direct Deposit Info” and save or print your void cheque. 

Now you know everything you need to in order to find your account information and understand your void cheque as a Simplii Financial customer! Furthermore, you should now be able to write a cheque.