Sorry, this offer has expired. Set up a deal alert and get notified of future deals like this. Add a Deal Alert

Expired Hot Deals

Sorry, this offer has expired.
Set up a deal alert and get notified of future deals like this.
Set up a Deal Alert
CIBC

Promo - Get $400 cash back with new VISA and new bank account

  • Last Updated:
  • Feb 7th, 2017 1:37 pm
Sr. Member
Apr 28, 2005
692 posts
79 upvotes
Burnaby

[CIBC] Promo - Get $400 cash back with new VISA and new bank account

Looks like a decent deal, considering the VISA is no annual fees and the cheapest bank account is $10 a month.

You should at least get $300 profit from this, depending on how long you keep the account.

All the info is at their link here:
https://www.cibc.com/ca/features/tim-vi ... -Bean400-E

Pretty standard stuff, one DD or two pre-auth
It's similar to the TD deal where you get a free samsung tablet (which cost around $200?) this you get at least $300 back.

Hope it's not a repost, deal starts July 2nd, 2014


Side note: this tim hortons double double visa card have the following welcome bonus:
-Receive $20 in Tim Cash as a Welcome Bonus when you spend $200 anywhere2.
-That’s enough for 11 large coffees.


Here's the complete terms and conditions, in case anybody needs the details:

† The offer period begins on July 2, 2014 at 12:01a.m. (EST) and ends on October 31, 2014 at 11:59 p.m. (EST). Only offered to residents of Canada who: (i) have reached the age of majority; (ii) at the start of the offers period, were not a holder (or joint holder) of a CIBC chequing account; and; (iii) have applied to be the primary cardholder of the new CIBC Tim Hortons Double Double™ Visa Card during the offer period (and, within 3 calendar months of such application, have been approved). With the exception of the CIBC Everyday® Banking Bundle and the CIBC Homeowner™ Banking Bundle, the offer cannot be combined with any other offer or rebate. To qualify, an eligible client must first open a: (i) CIBC EverydayPlus™ Chequing Account; (ii) CIBC Unlimited® Chequing Account; or (iii) CIBC PremierService® Account. Next, within 3 calendar months; register for CIBC Online Banking or CIBC Mobile Banking and then pay a bill or send an Interac e-Transfer® to be eligible to receive a $100 CAD cash reward; and/or set up at least one (1) eligible recurring direct deposit or at least two (2) different eligible recurring pre-authorized debits to be eligible to receive a $300 CAD cash reward. Further terms and conditions apply, see the Terms and Conditions for full offer details.

1 Tim Cash is earned on all CIBC Tim Hortons Double Double Visa Card credit purchases less returns, and not on cash advances, interest, fees, balance transfers, payments, CIBC Convenience Cheques or Tim Cash redemptions. Double Double Visa Card program may change without notice. Taxes, fees and other charges may apply to redemption of Tim Cash. Tim Cash is awarded to the primary cardholder’s Tim Card® Account immediately upon processing of CIBC Tim Hortons Double Double Visa Card credit purchases, provided that your card is open in good standing at the time of purchase). See Program Terms for details.

2 Interest rates will change from time to time on at least 30 days prior notice to primary cardholders. "Cash" means cash advances, balance transfer and convenience cheques.

3 CIBC Mobile Banking ranked first in Canada by Forrester Research Inc., “2004 Canadian Mobile Banking Functionality Benchmark” Report, May, 2014.

4 Within 3 months of the New Account open, ensure that at least (1) eligible recurring direct deposit; OR at least two (2) different and eligible pre-authorized debits goes through your New Account. Other conditions apply.
4106 replies
Deal Addict
User avatar
Sep 18, 2003
2098 posts
920 upvotes
Ottawa, ON
[IMG]https://www.cibc.com/ca/img/personal-ba ... ght-en.jpg[/IMG]

=======================================
Most questions answered in post by Djino....

cibc-promo-get-400-cash-back-new-visa-n ... st19637695

also, Notes (from post #2424)

Rogers, Bell, Tangerine, Reliance Home Comfort, Amex, RoyalBank Visa, Royalbank Mastercard, Canadian Tire Mastercard, Telus, Shaw, 407 ETR and WIND MOBILE (PAY AFTER Clients only) - these are all confirmed companies which you can setup through their web site.
All other utilities you can set them up as PAD - by sending them a void cheque.

Please refer to Djino's tips in his signature.
========================================




Personal experience with CIBC:

July 29 - applied (yes, they charged me for the account starting in July)
July 30 - email from CIBC "Please visit the branch to complete your CIBC account application" - assumed that meant I should go to CIBC branch with ID
July 30 - went to CIBC and showed them my email, they told me to come back in 5 days after a phone call
August 20 - got call from branch, went in and set up chequing account.... not sure how to order cheques, will go back into branch to ask (it says I can't on-line when I check my account)
August 25 - tried going to another branch and ATM, card didn't work, had to go into "home" branch to get account properly activated again
August 26 - set up pre-authorized debits for enbridge, hydro, koodo and bell
September 17 - phone call from CIBC asking how i like their service and the credit card, reminded them I don't have the credit card yet : )
September 29 - I called CIBC to ask about the status of the credit card, they said they mailed it out yesterday and I should receive in 6 to 10 working days.... I guess xpress post is too expensive?
Oct 1 - Received the $300 credit "Electronic Funds Transfer CREDIT MEMO CIBC Tims Cash Offer"
Oct 10 - Received the VISA tim horton card - activated and started using it the next day, already loaded with $10 tim $$
Oct 26 - received my first VISA bill
Oct 28 - received the $100 credit "CIBC Tims Cash Offer"
Dec 15 - had appointment with "advisor" to close account, caused nothing but problems, she didn't know how to close the account and kept telling me I would be charged the whole $400 credit. I walked out of the meeting with her.
an hour later - upset because I was leaving on a 3 week holiday, went back into branch and just told teller to close the account - she was an ass. manager and did it in about 30 seconds. easy
jan 15 - cancelled the credit card -- I really didn't like the Tims credit card, didn't always work and especially didn't work at Tim Horton's.
Deal Addict
User avatar
Jan 18, 2008
1651 posts
406 upvotes
Toronto
What is the monthly fee/cost for CIBC Everyday Plus Chequing Account or CIBC unlimited CHequing Account or PremierService Account ?.
How long before you can qualify and quit CIBC? 3 month or 6 month?
thank
Sr. Member
Apr 28, 2005
692 posts
79 upvotes
Burnaby
jurassic98 wrote: What is the monthly fee/cost for CIBC Everyday Plus Chequing Account or CIBC unlimited CHequing Account or PremierService Account ?
thank

The " CIBC Everyday Plus Chequing Account" it's $9.95 a month.
The premier one is like $28.95.
Newbie
Nov 26, 2013
34 posts
7 upvotes
Toronto, Ontario
Time to switch to CIBC from TD.
Deal Addict
User avatar
Dec 15, 2005
3718 posts
477 upvotes
GTA
I think you can just quit right after you see $400 deposited into the account. There's no requirements how long you need to stick to it.

So pretty much $400-$10=$390 profit for maybe 1 hour of effort opening an account and making 2 PAD and online payment.
jurassic98 wrote: What is the monthly fee/cost for CIBC Everyday Plus Chequing Account or CIBC unlimited CHequing Account or PremierService Account ?.
How long before you can qualify and quit CIBC? 3 month or 6 month?
thank
Deal Addict
User avatar
Aug 25, 2009
2342 posts
2785 upvotes
Sounds like you have to apply for the CC and then open the account? Or am I groggy and misreading the terms and conditions?

EDIT: nvm, the above is correct...it is pretty clear if you follow the link.
Member
Jan 21, 2003
201 posts
47 upvotes
Looks good, I have a savings account with them but seems to be still valid as long as no chequing account as well.
...Smiloid
Member
Aug 12, 2010
311 posts
67 upvotes
Toronto
do u have to apply for both?
Deal Addict
Apr 12, 2007
2340 posts
1389 upvotes
Ottawa
Not bad, bonus is paid within 12 weeks...
Deal Addict
Dec 9, 2007
2848 posts
327 upvotes
damn., im with cibc :( ... means i cant right. already have a Basic chequing account
Sr. Member
Mar 7, 2011
830 posts
153 upvotes
Toronto
what if i just signed up for a CC and bank account last week?
Sr. Member
Mar 4, 2007
735 posts
734 upvotes
Halifax
Dammit, I signed up for a new account with them 2 months ago and got jack....
Member
Dec 30, 2013
275 posts
73 upvotes
Toronto
Now time to find, what they call eligible DD and Pre-Authorized Payment.

Would payment to charity count? Or any other ideas for people who don't have Payroll DD?
Deal Fanatic
User avatar
Apr 19, 2005
9570 posts
639 upvotes
Toronto
What difference between "2 eligible pre-authorized payments" and "pay a bill"?
Thanks
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Need below items in GTA:
- CT, HD, FS, BB, gas GCs

FS: Freedom Mobile credit
Deal Addict
Feb 12, 2010
4578 posts
1999 upvotes
AB
mobileguy123 wrote: Now time to find, what they call eligible DD and Pre-Authorized Payment.
Would payment to charity count? Or any other ideas for people who don't have Payroll DD?
+1, same question.
I'm not doing a DD, will pay a bill. Then need to do 2 PAP's. Could these be transfers to another existing checking account?
Sr. Member
Mar 4, 2007
735 posts
734 upvotes
Halifax
can2000 wrote: What difference between "2 eligible pre-authorized payments" and "pay a bill"?
Thanks
I would imagine pre-authorized payments is something that comes out of your bank account through a company automatically (eg OSAP student loan payment), paying a bill would be manually paying a bill in online bill payment.
Deal Addict
Jun 29, 2009
2307 posts
213 upvotes
Toronto
ciuvak wrote: +1, same question.
I'm not doing a DD, will pay a bill. Then need to do 2 PAP's. Could these be transfers to another existing checking account?
https://www.cibc.com/ca/pdf/tim-visa-ca ... ons-en.pdf
Eligible Recurring Transactions: Most recurring direct deposits and pre-authorized debits are eligible.
Examples of common recurring direct deposits are payroll, CPP/QPP, disability payments, dividends,
and government deposits such as Employment Insurance and provincial parental insurance plan (PPIP).
Examples of common recurring pre-authorized debits are pre-authorized bill payments and loan or
mortgage payments where you set up pre-authorized instructions with your mortgage, loan, credit card
and/or other provider. Recurring pre-authorized fund transfers that you initiate (i.e., if you use
telephone banking, ABM and/or online banking to set up) to other CIBC deposit, credit card or line of
credit accounts, or to accounts at other financial institutions, are not eligible for the $400 Cash Offer
.
For further details, consult with your branch advisor or telephone banking representative to determine
whether any given pre-authorized debits or direct deposits are eligible for the $400 Cash Offer.
Member
Apr 4, 2006
398 posts
128 upvotes
ciuvak wrote: +1, same question.
I'm not doing a DD, will pay a bill. Then need to do 2 PAP's. Could these be transfers to another existing checking account?
Too slow answering - looks like 2 other replies already!

I doubt that bill payments or transfers would count. They want you to pre-authorize another entity to directly debit your account - such as allowing Telus or Bell to access your account to automatically pay your cell phone bill - other examples are your life / auto / home insurance monthly premium or your mortgage payment...

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)