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[CIBC] CIBC Earn $300 and 12 Month Fee Rebate with a CIBC Smart Account

  • Last Updated:
  • Jan 14th, 2021 11:07 am
Member
Oct 12, 2005
394 posts
331 upvotes
Lower Mainland BC
Got my bonus!
Account was opened May 25th.
Sr. Member
Oct 11, 2005
856 posts
1634 upvotes
Airdrie, AB
angel_wing0 wrote: I opened mine around early May, so looks like CIBC will be hearing from me very soon then.
angel_wing0 wrote: Got my $300 also!
Guess they heard you! Right down to the wire...

When I opened (in March), the T&C said 7 months (but in reality it was 5 months to receive). Not sure if they updated T&C to 5 months by the time you applied in May, but I know it's been 5 months lately, and they've been true to their word for the most part.

I suspect CIBC's approach will yield more loyalty/"stickiness" in clients, compared to all the other banks. CIBC strikes a good balance, and of all the new bank accounts I've opened for welcome bonuses, it's the one I'd be most likely to keep after the 12-month commitment (however, since I already have a Simplii chequing account, the CIBC account is redundant). The only reason I currently have to keep the CIBC account would be to facilitate quick balance transfer offers from the CIBC Visa that I have (1 business day for funds to transfer over), but I'll test the transfer from CIBC Visa to my Simplii chequing account to see how that process goes, and then decide from there.
Sr. Member
Mar 7, 2011
564 posts
414 upvotes
Brampton
Got mine today as well! Got the Oct5 email...
2nd $300 too but accounts 1yr apart...
Sr. Member
Oct 5, 2014
546 posts
1117 upvotes
Ontario
I'm still waiting Face With Tears Of Joy

Probably going to need to call in again on November 30th asking for the $300.
Deal Addict
Feb 4, 2003
2376 posts
324 upvotes
I opened mine at the end of June and nothing so far.
Deal Addict
Apr 13, 2017
1579 posts
702 upvotes
GTA
angel_wing0 wrote: Takes 5 months usually, so if everything goes smoothly you will get it in Nov.
Opened early June. No email yet :(

Monthly fees continues to be rebated.
Member
Mar 13, 2004
234 posts
91 upvotes
Opened the account online the first day this offer became available and still no rewards. Called CIBC and the agent quoted the original T&C, "If an Eligible Client qualifies to receive the Cash Reward, such Cash Reward will be directly credited to the Account within seven (7) months following the end of the month in which the Account is opened and otherwise completing applicable requirements described in the Terms." In my case, since my PADs started in May, so I was told to expect the payout in Dec.
Newbie
Nov 24, 2016
96 posts
39 upvotes
Surrey
I just noticed I'm being charged the service fee, so I guess that means my PADs weren't eligible and now it's past 3 months. Any way I can still get the $300? Is it possible to convince Cibc to let me do a late qualifying action?
Member
Oct 12, 2005
394 posts
331 upvotes
Lower Mainland BC
LawrenceY445978 wrote: I just noticed I'm being charged the service fee, so I guess that means my PADs weren't eligible and now it's past 3 months. Any way I can still get the $300? Is it possible to convince Cibc to let me do a late qualifying action?
What PAD’s were you using?
Sr. Member
Oct 22, 2016
608 posts
512 upvotes
Comox Valley
Open account in March, all requirements were met, with no $300. Did online chat with them today, and they confirm I get the $300, but asked me to phone in.

Did phone in, they looked into it, said it may be a software error (whatever), they then said they will look into it, and get back to me, within 4 days.
Member
Nov 25, 2006
390 posts
203 upvotes
I got my $250 from Tangerine already. I changed my payroll deposit to the account early October. I'm impressed.
I am also doing the CIBC one soon. I hope it goes smoothly.
Member
Aug 13, 2015
318 posts
450 upvotes
Vancouver, BC
angel_wing0 wrote: Got my $300 also!
I received the "congratulations you qualify for $300" email on Oct 29, but I've not seen the $300 deposited as of today (Nov 13).
I called CIBC, and the agent basically said I should continue waiting, though he assured me that the money will be deposited.
Seems like the timeline is different for me than it was for you.
Moderator
User avatar
Mar 23, 2004
42575 posts
8583 upvotes
Markham
adaniel wrote: I received the "congratulations you qualify for $300" email on Oct 29, but I've not seen the $300 deposited as of today (Nov 13).
I called CIBC, and the agent basically said I should continue waiting, though he assured me that the money will be deposited.
Seems like the timeline is different for me than it was for you.
Definitely, loads of ppl here got theirs before me and we receive the email around the same time. If it doesnt come by Nov 30th, then yeah i would turn up the rage scale.
Member
Jan 24, 2007
428 posts
90 upvotes
Toronto
Just to add a datapoint,
  • Jun 17th - applied
  • Oct 29th - congrats you qualify email received
  • Nov 20th - received 300$
i moved a portion of my pay to CIBC to meet the requirements.
Sr. Member
User avatar
Mar 2, 2014
574 posts
273 upvotes
After months of being told my account met the requirement but no bonus, finally found an agent on chat who sent the case to back office and received my $300 in a week.

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