does anyone know if are they waving the CIBC Visa fee (annual fee) you keep 3000$ or more in the account (same as Scotia does) ?
[CIBC] CIBC $350 Welcome Bonus for CIBC Smart Account opened ONLINE Oct 1-30, 2020, plus 12 months no fees
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- smackioio
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- NobleFalcon1
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- CalgaryBen [OP]
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No. If you want cheques, they're quite pricey -- they start at $50.88 + shipping for a book of 100.
If you actually want/need cheques, I'd recommend opening an account with Simplii. You'll get access to all CIBC machines for deposits/withdrawals, but there are no fees/minimum requirements, and cheques are actually free.
- james151
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- LaSalle
- GTAExplorer
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Does anyone know if there is a minimum amount for the direct deposit or it could technically be like $1?
- JJackJi
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- simplypop
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Anyone know how to get direct deposit if self employed ? My parents self employed so wanted to get them this
- mr2711
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How to get void cheque which shows Bank and Account details?
Only option I see is this: https://www.cibc.com/ca/pdf/payroll-dir ... orm-en.pdf
Only option I see is this: https://www.cibc.com/ca/pdf/payroll-dir ... orm-en.pdf
- CalgaryBen [OP]
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- trigger0
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Here...mr2711 wrote: ↑ How to get void cheque which shows Bank and Account details?
Only option I see is this: https://www.cibc.com/ca/pdf/payroll-dir ... orm-en.pdf
- mr2711
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Thanks. @CalgaryBen and @trigger0
- sidshock
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How do I setup 2 pads with PayPal and tangerine??Bratcoin wrote: ↑ I'm so tempted to do this again just to experiment if they really check the eligibility requirement. No minimum deposit for 12 months and it's very easy to do the PADs (no minimum) for this Smart Account. I could do this again with $1 PayPal and Tangerine monthly PADs then wait and see if the cash bonus will come.
I have a CIBC sav account. But haven't had a chequing since 2010.
If I can initiate 2 easy pads with PayPal / tangerine this is stupid easy for 350 bux!
- Bratcoin
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On Paypal site, go to your 'Wallet' then 'Link a bank' to enter your Smart Account details. After confirmation, you then look for PayPal balance 'Add money' link (choose your Smart Account) then go from there.
On Tangerine site, similar process: go to 'External Accounts' >> link Smart Account >> confirm >> set up to 'pull money' from Smart Account
- sidshock
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And I can set it up to auto pull monthly?Bratcoin wrote: ↑ On Paypal site, go to your 'Wallet' then 'Link a bank' to enter your Smart Account details. After confirmation, you then look for PayPal balance 'Add money' link (choose your Smart Account) then go from there.
On Tangerine site, similar process: go to 'External Accounts' >> link Smart Account >> confirm >> set up to 'pull money' from Smart Account
If so. Sweet. And thanks!
- Bratcoin
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With Tangerine you can automate it monthly but not for PayPal afaik. But with PayPal you only have to 'Add money' every month w/c is a simple process anyway (you only link your Smart Account once).
- GTAExplorer
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Has anyone opened online and been asked to go in branch to show ID and pick up their debit card?
- Bzzzzt
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The risk is if you open the account and find out you're ineligible you're reset for the next promo 5 years vs. say 1-2 years if you last closed in 2016/17.Bratcoin wrote: ↑ I'm so tempted to do this again just to experiment if they really check the eligibility requirement. No minimum deposit for 12 months and it's very easy to do the PADs (no minimum) for this Smart Account. I could do this again with $1 PayPal and Tangerine monthly PADs then wait and see if the cash bonus will come.
- spagspag
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Thanks OP 
Reading the CIBC Smart Account special bonus offer page I come away with:
1. Open anCIBC Smart Account online, get a fee rebate for 3 first months
2. Setup 2 PADs (ex. my Fido monthly account payment and a monthly credit card payment).
3. Five months later receive $350 in my CIBC Smart Account
4. Maintain the 2 PADs for a year total, fee rebate on the Smart Account continues for the full year.
5. I can close the Smart Account in October 2021, keeping the $350 without incurring any fees.
I only incur a "hard hit" on my Equifax file. Am I missing anything?
Reading the CIBC Smart Account special bonus offer page I come away with:
1. Open anCIBC Smart Account online, get a fee rebate for 3 first months
2. Setup 2 PADs (ex. my Fido monthly account payment and a monthly credit card payment).
3. Five months later receive $350 in my CIBC Smart Account
4. Maintain the 2 PADs for a year total, fee rebate on the Smart Account continues for the full year.
5. I can close the Smart Account in October 2021, keeping the $350 without incurring any fees.
I only incur a "hard hit" on my Equifax file. Am I missing anything?
- CalgaryBen [OP]
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That's pretty much it. For #2, just make sure your credit card payment is "pulled" by the credit card company, and you're not "pushing" the payment to the credit card. A few cards allow this (AmEx comes to mind). To think of it another way, if you provide the payee your transit/bank/account numbers for them to get the funds, then that's likely a qualifying PAD.spagspag wrote: ↑ Reading the CIBC Smart Account special bonus offer page I come away with:
1. Open anCIBC Smart Account online, get a fee rebate for 3 first months
2. Setup 2 PADs (ex. my Fido monthly account payment and a monthly credit card payment).
3. Five months later receive $350 in my CIBC Smart Account
4. Maintain the 2 PADs for a year total, fee rebate on the Smart Account continues for the full year.
5. I can close the Smart Account in October 2021, keeping the $350 without incurring any fees.
I only incur a "hard hit" on my Equifax file. Am I missing anything?
For #5, the T&C (Item 6) says the account must remain open "at least one (1) year from the month-end of the month during which the Account was opened." So, since you'd be opening the account in October, it needs to remain open for a full year after Oct 31, 2020, meaning you can close it on November 1, 2021 without forfeiting the $350 reward. However, you'll only get a fee rebate for Oct 2020 until Sept 2021 (12 months), so you'll likely have to pay fees for Oct 2021 ($4.95 which gets you up to 12 transactions), unless you have the minimum balance requirement of $3000, in which case the $4.95 gets rebated.
- spagspag
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For #2 Looks like I'm out of luck adding a "pulled" monthly payment of my Tangerine credit card balance. It seems they only allow payment from a Tangerine checking or savings account. No external linked accountsCalgaryBen wrote: ↑ That's pretty much it. For #2, just make sure your credit card payment is "pulled" by the credit card company, and you're not "pushing" the payment to the credit card. A few cards allow this (AmEx comes to mind). To think of it another way, if you provide the payee your transit/bank/account numbers for them to get the funds, then that's likely a qualifying PAD.
For #5, the T&C (Item 6) says the account must remain open "at least one (1) year from the month-end of the month during which the Account was opened." So, since you'd be opening the account in October, it needs to remain open for a full year after Oct 31, 2020, meaning you can close it on November 1, 2021 without forfeiting the $350 reward. However, you'll only get a fee rebate for Oct 2020 until Sept 2021 (12 months), so you'll likely have to pay fees for Oct 2021 ($4.95 which gets you up to 12 transactions), unless you have the minimum balance requirement of $3000, in which case the $4.95 gets rebated.
