Simplii Financial Visa* Digital Gift Card Review (2022)

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by Enoch Omololu

Updated

Advertiser Disclosure

Simplii Financial recently launched a digital gift card you can personalize and send to friends and family.

If you have ever struggled with picking the perfect gift during holidays or memorable occasions, a gift card that is equivalent to cash easily solves this problem.

With Simplii Financial’s prepaid Visa gift cards, you get flexibility and there are no upfront fees to worry about.

This Simplii Financial Visa Digital Gift Cards review covers how it works, its pros, cons, limits, and more.

What is Simplii Financial?

Simplii Financial is a top Canadian online bank owned by the Canadian Imperial Bank of Commerce (CIBC).

It has almost 2 million clients and offers a variety of financial products including:

  • Digital Gift Cards
  • No-Fee Chequing Account
  • High Interest Savings Accounts
  • Investments
  • Cash-back Credit Card
  • Personal Loans and Mortgages
  • Simplii Global Money Transfer

You can learn more about its products and services in this detailed review.

Simplii Financial Visa* Digital Gift Cards

Simplii Financial Visa* Digital Gift Cards work like a typical non-reloadable virtual prepaid Visa card.

You can use them to pay for purchases online or in-store wherever Visa cards are accepted. Invariably, you can use these cards at millions of locations worldwide.

Features At a Glance

  • $25 to $250 value
  • Easily send by email to recipients
  • No purchase or activation fees
  • Compatible with Apple Pay, Google Pay, and Samsung Pay digital wallets
  • Merchant-branded cards are available
  • Can be personalized with a note, video, or GIF

How Does It Work?

You need to have a Simplii Financial account in order to send a Simplii Financial Visa Digital Gift Card to someone.

That said, the recipient does not need an account.

As a sender, your Simplii Financial account can be any one of its chequing or personal line of credit accounts.

Simplii’s chequing accounts have no monthly fees, and you can easily open one online within minutes.

To send a digital gift card, visit your Online Banking and Mobile Banking to choose a theme from the gift card catalogue.

Personalize the gift card with a note, video, audio, or GIF and email it to the recipient.

When your recipient receives the Simplii Financial Visa Gift Card, they also get instructions on how to activate and how to add to your mobile wallet.

The gift card expires after 3 years; however, the funds do not expire, and a new card is automatically issued if there’s a balance.

If you are sending a merchant-branded gift card, the current choices include:

  • DAZN
  • Indigo
  • Winners, Homesense, and Marshalls
  • Sunwing
  • Joey Restaurants
  • Earls Kitchen and Bar
  • Dollarama
  • Adidas
  • Local Public Eatery
  • DoorDash
  • The Running Room
Simplii Financial Visa Digital Gift Card Review

Simplii Financial Visa* Digital Gift Card Limits

This is a prepaid Visa digital card, and you cannot use it at an ATM or spend more than your balance.

Also, it cannot be used to pay off your credit card balance.

The minimum amount you can load is $25 while the maximum card load limit is $250.

Simplii Financial Visa* Digital Gift Card Fees

The Simplii Financial Visa digital gift card has no purchase or activation fees.

If you make payments that require currency conversion, a 2.50% FX fee applies.

Pros and Cons of the Simplii Financial Visa Digital Gift Card

Pros:

  • Multiple gift card options
  • No fees to purchase or activate
  • Funds don’t expire
  • Compatible with popular digital wallets
  • Can be personalized

Cons

  • You cannot send more than $250 per card
  • You can send the digital gift card to anyone in Canada except the province of Quebec

Is the Simplii Financial Visa* Digital Gift Card Safe?

You must treat your gift card like cash and take the necessary steps to ensure it is not misplaced.

Funds on the Simplii Financial Digital Gift Card are not insured by the Canada Deposit Insurance Corporation (CDIC).

If you think your card has been compromised, you can contact support at 1-855-961-5343.

Conclusion

The Simplii Financial Visa prepaid gift card is a game-changer and my review is positive.

Thinking about sending a gift to a friend, family member, or colleague? Consider sending them a Simplii Financial gift card with only a few clicks online.

You can open a free Simplii Account here if you are not yet a customer.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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