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

  • Last Updated:
  • Oct 24th, 2020 10:56 pm
Jr. Member
Jul 29, 2016
170 posts
62 upvotes
Weird, haven't received received the $300 yet and also signed up in March and got the email on July 31. Wonder how long I should wait before calling in.
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User avatar
Oct 23, 2006
4677 posts
1672 upvotes
Winnipeg
pauliaK wrote: Can credit check be avoided by opening account in person at the branch? I have a credit card with CIBC already and a savings account so they have all my info.
Yes no credit check in branch. Just be sure to state you don’t want an overdraft and decline the credit check. Took me 20 min to open an account in branch.
Banned
User avatar
Jul 17, 2008
11042 posts
3821 upvotes
imawnms wrote: Weird, haven't received received the $300 yet and also signed up in March and got the email on July 31. Wonder how long I should wait before calling in.
Same. Another account never received the email but just got the $300 bonus. Transaction says Memo Credit back end branch, so it seems it might've been added manually? But we never called in.

I'll keep waiting until the end of the month before calling. The email is a nice proof that we are suppose to get the bonus if we have to call.
headleygrange wrote: Remember that the account must be kept for 1 year from the end of the month of account opening date. For example: if you opened the account on July 1st 2020, you can only close the account on Aug 1st 2021.
There is no requirement to keep the account open for a year. I think you are confusing it with free account for a year promo that is included. You want to close it earlier to avoid any late fee penalties
Deal Addict
Apr 13, 2017
1334 posts
576 upvotes
Messerschmitt wrote: Same. Another account never received the email but just got the $300 bonus. Transaction says Memo Credit back end branch, so it seems it might've been added manually? But we never called in.

I'll keep waiting until the end of the month before calling. The email is a nice proof that we are suppose to get the bonus if we have to call.



There is no requirement to keep the account open for a year. I think you are confusing it with free account for a year promo that is included. You want to close it earlier to avoid any late fee penalties
Not really. Read the terms here :

Cibc Terms

The Cash Reward is subject to the condition (the “Reward Condition”) that the Eligible Client’s Account must remain open, active and unconverted for at least one (1) year from the month-end of the month during which the Account was opened. Failing this, an Eligible Client may be disqualified (a “Disqualified Reward Client”) and will not qualify for the Cash Reward. If the Cash Reward has already been provided to a Disqualified Reward Client, CIBC reserves the right, in its sole and absolute discretion, to charge the client’s Account for, or send an invoice to the Disqualified Reward Client for, $300 CAD. The Cash Reward must be accepted as awarded and is not transferable or assignable. No Cash Reward substitutions will be permitted.
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User avatar
Jul 17, 2008
11042 posts
3821 upvotes
headleygrange wrote: Not really. Read the terms here :

Cibc Terms

The Cash Reward is subject to the condition (the “Reward Condition”) that the Eligible Client’s Account must remain open, active and unconverted for at least one (1) year from the month-end of the month during which the Account was opened. Failing this, an Eligible Client may be disqualified (a “Disqualified Reward Client”) and will not qualify for the Cash Reward. If the Cash Reward has already been provided to a Disqualified Reward Client, CIBC reserves the right, in its sole and absolute discretion, to charge the client’s Account for, or send an invoice to the Disqualified Reward Client for, $300 CAD. The Cash Reward must be accepted as awarded and is not transferable or assignable. No Cash Reward substitutions will be permitted.
Well I stand corrected. This is new with CIBC, usually is just BMO. Will have to plan the closing wisely so that I won't pay a month of 4.95 fees.
Jr. Member
Jul 29, 2016
170 posts
62 upvotes
So has everyone who joined in March got their $300?
Sr. Member
Oct 5, 2014
509 posts
963 upvotes
Ontario
imawnms wrote: So has everyone who joined in March got their $300?
I signed up March 1st, started fulfilling the requirements immediately but haven't received the $300 yet.
Sr. Member
Oct 11, 2005
738 posts
1371 upvotes
Airdrie, AB
imawnms wrote: So has everyone who joined in March got their $300?
Signed up March 6, started bi-weekly payroll deposits plus mortgage/car payment PADs same month, but still waiting for my $300.

No e-mail about the $300, but they do have my e-mail address on file since I got the "Thanks for your application." e-mail. I've also been getting the monthly fees rebated, so the fulfillment criteria should be satisfied. Not planning to raise a stink until October, since the T&C mention "The cash reward will be deposited into your account seven (7) months after you have completed the required transactions".
Jr. Member
Jul 29, 2016
170 posts
62 upvotes
imawnms wrote: So has everyone who joined in March got their $300?
Called this morning and was told to wait until October and they couldn't do anything until 7 months passes. Ended up getting the $300 this evening.
Last edited by imawnms on Aug 21st, 2020 11:13 am, edited 1 time in total.
Sr. Member
Oct 11, 2005
738 posts
1371 upvotes
Airdrie, AB
CalgaryBen wrote: Signed up March 6, started bi-weekly payroll deposits plus mortgage/car payment PADs same month, but still waiting for my $300.
Update: Received $300 as "Branch Transaction CREDIT MEMO IBB BACK OFFICE CENTRE MISSISSAUG" on Friday, August 21, sometime between 7:15am-11:45am MDT (I checked around 7:00am and the $300 hadn't been deposited yet). No action was required on my part (i.e. didn't call in or contact CIBC or anything), so I guess patience was key. Certainly happy here, since this is a couple months ahead of schedule!
Newbie
Jul 17, 2010
19 posts
4 upvotes
Burnaby
Received $300 as "Branch Transaction CREDIT MEMO IBB BACK OFFICE CENTRE MISSISSAUG" on Friday, August 21 signed up early march. never received any email however.
Member
User avatar
Dec 24, 2011
355 posts
648 upvotes
NORTH, Canada
I met the requirements over a month ago but no $300 yet. I also didn’t receive an email on 31 July.

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