CIBC

Updated February 15, 2020

Website: https://www.cibc.com/

Special Offers:

Currently CIBC is offering everyday banking to newcomers, you get $300 with a CIBC Smart Account when you open your first CIBC chequing account, plus pay no monthly fee for one year.

Within the first 2 months, set up and maintain 2 of the following, then you will get $300 within 7 months after opening your account:

  • 1 recurring direct deposit
  • 2 recurring pre-authorized debits
  • 2 online bill payment of $50 or more each

https://www.cibc.com/en/special-offers/smart-cash-offer.html

Rewards program through Journie:

You can get this reward card at any Pioneer, Chevron or Ultramar gas stations. If you link your Journie rewards with CIBC debit/credit cards, and pay with debit/credit at these participating gas station, you will receive 3 cents off gas prices and once you fill up to 300 litres you will get an additional 7 cents off that one time purchase.

How to open a bank account: in person, online or mobile banking app

  • In Person: book a meeting at the closest branch and bring in 2 pieces of valid ID.
  • Online: by filling out the application by providing your personal information, social insurance number and address as well as provide 2 pieces of valid ID once the application has been approved when you pick up your debit card.
  • Mobile app: download the CIBC Mobile Banking app and select “Open an Account.”

Here is a link to their Branch Locator to find the closest physical branch.

https://www.cibc.com/en/personal-banking/ways-to-bank/atm-and-branch-network.html

Credit Score

CIBC provides your credit score, but not a full credit report, and it is only offered on the mobile app.

Budgeting Apps:

The one on the mobile app is called Insights:

  • it gives you tailored advice based on your spending habits
  • you can set up spending limits for each bill or category you set up
  • it tells you if your bill or subscription is higher than normal
  • you get reminders when you have extra money to put away

The one online is under CIBC Financial HealthCheck Goal:

  • to set goals for savings, pay down debt or to manage money better
  • you can put in your monthly expenses and it will create a budget for you

Services Offered:

  • Savings & Business Accounts
  • Pay bills online or through your mobile banking app
  • Interac e-Transfer online and through mobile banking app
  • Mobile banking app: https://www.cibc.com/en/personal-banking/ways-to-bank/mobile-services.html
  • Deposit cheques through mobile banking app
  • Free credit score through mobile banking app NOTE: Free credit score is only available through the mobile banking app, not through their website; full credit reports are not available
  • Track your bills, set spending limits and more
  • Financial HealthCheck
  • Send money globally
  • Shop and pay you way with Google pay, Apple pay and Samsung pay
  • Investments Products (RRSP, TFSA, mortgages, GICs)
  • Overdraft protection available
  • Cheques available for a fee

Bank Accounts:

CIBC has multiple accounts with different fees depending on the account and your needs, below is simplified comparison chart for chequing accounts.  For further information, please visit: Chequing and Savings | Bank Accounts | CIBC

 

How to get a PAP Form

Sign on to CIBC Online Banking, under banking, view account details on left-hand column, choose which account you would like to get the form from, go under manage my account on right-hand side, the 3rd option down is the void cheque/direct deposit info.