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Investor's Edge upto $400 cash back

  • Last Updated:
  • Dec 4th, 2018 1:20 am
[OP]
Member
May 1, 2005
265 posts
28 upvotes
Toronto

[CIBC] Investor's Edge upto $400 cash back

Screen Shot 2018-11-30 at 8.38.50 PM.png
Move your trading account over to CIBC's Investor's Edge and get up to $400 Cash Back
  1. $100 when you transfer in $25,000 to $49,999.99
  2. $200 when you transfer in $50,000 to $99,999.99
  3. $400 when you transfer in $100,000 or more
Open an Investor's Edge account and enter the promo code below to take advantage of this offer.

Promo code: SPARX18


IMO, this offer is better than last years offer. It was the same amount but non-registered accounts weren't eligible. :( seems like this year registered accounts are eligible for the amount.

Investors Edge Cash Back Offer Terms and Conditions:

1. The cash back offer (the “Offer”, described in paragraph 2 below) begins on November 1, 2018, and ends on March 1, 2019 (the “Offer Period”). The Offer applies to eligible transfers into a new or existing CIBC Investor’s Edge account (the “Account”) with CIBC Investor’s Edge, a division of CIBC Investor Services Inc., that are initiated during the Offer Period. The date on which the Transferred Assets are received in the Account is referred to as the “Transfer-In Date”.

2. The Offer: If you transfer an eligible amount of cash and/or securities (the “Transferred Assets”) into your Account(s) you are eligible to receive a cash credit to your Account(s), as outlined below:
a. Transferred Assets with a market value of $25,000 or more (but less than $50,000) are eligible for a $100.00 cash credit applied to the Account
b. Transferred Assets with a market value of $50,000 or more (but less than $100,000) are eligible for a $200.00 cash credit applied to the Account.
c. Transferred Assets with a market value of $100,000 or more are eligible to receive a $400.00 cash credit applied to the Account.

3. Cash credits pursuant to the Offer will be applied to each Account that holds an eligible amount of Transferred Assets in the week of May 6, 2019 for transfers received by December 31, 2018 and in the week of July 1, 2019 for transfers received after December 31, 2018 and prior to May 1, 2019.

4. In order to be eligible for the Offer:
a. The Transferred Assets must be transferred to CIBC Investor’s Edge from an account that is not held at any of the CIBC group of companies. The CIBC group of companies includes but is not limited to: Canadian Imperial Bank of Commerce (CIBC), CIBC Imperial Service, CIBC Imperial Investor Service, CIBC Asset Management Inc., CIBC Securities Inc., CIBC Wood Gundy, CIBC Private Investment Counsel, CIBC Trust Corporation, CIBC Atlantic Trust Private Wealth Management, or such other subsidiary or affiliated company of CIBC from time to time;
b. The transfer of Transferred Assets must be initiated and the necessary transfer documentation must be in the possession of CIBC Investor’s Edge on or before March 1, 2019; and
c. The Transfer-In Date must be between November 1, 2018, and May 1, 2019, to be eligible for the Offer, and subsequent deposits initiated after March 1, 2019, are not eligible for the Offer.
CIBC Investor’s Edge is not responsible for transfers that are not initiated, received or completed by these dates due to technical problems or malfunctions. You are solely responsible for the payment of any fees, penalties, charges or other amounts associated with the transfer of Transferred Assets to Account(s).

5. The Offer is non-transferable and cannot be combined with any other CIBC Investor’s Edge promotional offer. You are only entitled to one promotional offer within any twelve (12) calendar month period. The Offer will be applied to a maximum of two (2) accounts per household, which means one or more clients residing at the same address.

6. For the purpose of the Offer, the value of the Transferred Assets will be based upon the market value of such assets as of 4 p.m. (EST/EDT) on the Transfer-In Date, as determined by CIBC Investor’s Edge in its sole and absolute discretion.

7. To qualify for the Offer, the value of the Transferred Assets held in the Account minus any withdrawals from the Account on or after the Transfer-In Date must be at least $25,000 (where you would be entitled to receive a $100.00 cash credit, $50,000 (where you would be entitled to receive a $200 cash credit) or at least $100,000 (where you would be entitled to receive a $400.00 cash credit). The value must remain above $25,000, $50,000 or $100,000, as applicable, until the date that the cash credit is applied to the Account. During this period, if the value of the Transferred-In Assets held in the Account, drops below $25,000, $50,000 or $100,000, as applicable, due to withdrawals, the Offer shall immediately be void and any cash credits pursuant to the Offer will not be applied. If, however, the value of the Transferred-In Assets held in the Account drops below $25,000, $50,000 or $100,000 as applicable, due to market or currency fluctuations, the Offer will still be valid. The values/balances of Accounts, Transferred Assets and withdrawals shall be determined by CIBC Investor’s Edge in its sole and absolute discretion.

8. Securities that are not listed on a recognized exchange or quoted on a recognized quotation or trade reporting system or other market recognized by CIBC Investor’s Edge, in its sole and absolute discretion, do not qualify as Transferred Assets and will not be taken into consideration when determining whether the conditions of the Offer are met.

9. All dollar amounts expressed herein refer to Canadian dollars. In order to determine whether the Account qualifies for the Offer, the Canadian dollar value of any Transferred Assets denominated in a currency other than Canadian dollars will be determined using currency rates established by CIBC Investor’s Edge from time to time. All cash credits paid pursuant to the Offer will be paid in Canadian dollars only. Cash credits into a registered account will not impact your contribution room if you have transferred in Transferred Assets to a registered account.

10. You are solely responsible for any tax consequences or other amounts which may be associated with the Offer, the transfer of Transferred Assets into or trades placed in the Accounts.

11. Terms and conditions applicable to the Offer are subject to change without notice at the sole and absolute discretion of CIBC Investor’s Edge.

12. You are deemed to have accepted the terms and conditions of this Offer upon transferring into an Account an amount of Transferred Assets eligible for the Offer.

13. You may opt out of the Offer at any time by notifying CIBC Investor’s Edge at 1-866-495-3343 in which case any credits made to your Account pursuant to the Offer will be reversed.

14. CIBC Investor’s Edge reserves the right, in its sole and absolute discretion, to withdraw the Offer or to disqualify, limit or revoke the Offer in respect of any CIBC Investor’s Edge customer who it determines or believes is abusing or manipulating the Offer.

15. Additional terms and conditions may apply to open an account with CIBC Investor’s Edge and the transfer-in and operation of accounts at CIBC Investor’s Edge. Details are available upon request.

16. All disputes arising out of this offer shall be subject to the exclusive jurisdiction of competent courts of the Province of Ontario.
11 replies
Deal Addict
Feb 9, 2013
1832 posts
985 upvotes
Mississauga
Cold as the winter - only 0.4% return not worth it
Member
Dec 17, 2015
458 posts
156 upvotes
Burlington
When other places offer free ETF trading makes me wonder....
Deal Addict
User avatar
Oct 23, 2006
4881 posts
1885 upvotes
Winnipeg
jdu0ng wrote: Cold as the winter - only 0.4% return not worth it
What if you are transferring a long term investment that you aren’t planning on selling. Then it’s a $400 bonus in your pocket...
Newbie
Feb 27, 2015
95 posts
40 upvotes
Newcastle, ON
jdu0ng wrote: Cold as the winter - only 0.4% return not worth it
Free $400 for those who were considering switching anyway is pretty good.
[OP]
Member
May 1, 2005
265 posts
28 upvotes
Toronto
jdu0ng wrote: Cold as the winter - only 0.4% return not worth it

Thank you for your feedback, of the other big 5/big 6 banks, (I only say that because they could be considered in the same peer group whereas the other brokerages wouldn't be true comps) can you suggest any offers that are more competitive?

Personally, I think this is very attractive for existing clients RBC Direct Investing, TD Direct Investing, or BMO Investor's Line or Scotia's iTrade and would entice them to switch, there's very little work to do if your account is mostly passive trading. Especially given CIBC is the only one with $6.99 Trading regardless of balance and that amount drops to $5.99 / trade for students.
Member
Oct 31, 2006
449 posts
60 upvotes
I agreed it is not a bad deal at all if you are going to open an account anyway.
Deal Addict
Feb 9, 2013
1832 posts
985 upvotes
Mississauga
01-digital wrote: Thank you for your feedback, of the other big 5/big 6 banks, (I only say that because they could be considered in the same peer group whereas the other brokerages wouldn't be true comps) can you suggest any offers that are more competitive?

Personally, I think this is very attractive for existing clients RBC Direct Investing, TD Direct Investing, or BMO Investor's Line or Scotia's iTrade and would entice them to switch, there's very little work to do if your account is mostly passive trading. Especially given CIBC is the only one with $6.99 Trading regardless of balance and that amount drops to $5.99 / trade for students.
Here gives you a summary of monthly promotions:
https://www.sparxtrading.com/current-de ... mber-2018/

Of course if you planned to transfer anyway, then even $5 is better than nothing.
Deal Addict
User avatar
Aug 25, 2005
1609 posts
533 upvotes
Kitchener
jdu0ng wrote: Cold as the winter - only 0.4% return not worth it
Huh? This is investor's edge which is a self directed account. You can buy any stock / mutual fund / etf / GIC / etc. you want. If you are only getting 0.4% return that isn't because of the account, but your choices.
Deal Addict
Jul 15, 2009
2466 posts
1643 upvotes
Will they pay your transfer-out fees? What if you have a bunch of accounts to transfer (non-reg, RRSP, TFSA, RESP, ...)?
[OP]
Member
May 1, 2005
265 posts
28 upvotes
Toronto
bubak wrote: Will they pay your transfer-out fees? What if you have a bunch of accounts to transfer (non-reg, RRSP, TFSA, RESP, ...)?
yes, they will also cover transfer out fees up to $135 I think per account transferred. You just need to send them the statement showing the charge and CIBC will credit you back the amount.
[OP]
Member
May 1, 2005
265 posts
28 upvotes
Toronto
jdu0ng wrote: Cold as the winter - only 0.4% return not worth it
You're the one that said my deal was cold as the winter. So can you recommend me a deal that's hotter because I'd love to jump on it?
jdu0ng wrote: Here gives you a summary of monthly promotions:

https://www.sparxtrading.com/current-de ... mber-2018/

Of course if you planned to transfer anyway, then even $5 is better than nothing.
So based on that link which brokerage would YOU move your money to and why?S

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