CIBC CIBC: Get a $100.00 Amazon.ca Gift Card When You Open a CIBC Smart Account Get a FREE $100 Amazon.ca Gift Card at CIBC!

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Bank a little smarter with a new account from CIBC, because you can get a free $100.00 Amazon.ca Gift Card when you open a new CIBC Smart Account!

You must enroll online or through the CIBC Mobile Banking app (Android, iOS) to get this offer and complete a few additional steps.

  • Open a CIBC Smart Account and provide a valid email address
  • Complete at least one recurring direct deposit or two recurring pre-authorized debits within three months of opening the account

The CIBC Smart Account is a chequing account with a monthly fee that varies depending on your usage per month -- click here to learn more about the Smart Account and what else it has to offer.

This offer is available to new or qualifying CIBC customers until February 28 -- click here to read the complete terms and conditions for this offer.

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    • Seems like CIBC got a whole bunch of Amazon.ca gift cards, got this email from Simplii (a CIBC subsidiary) this morning:
      You could win a $50 Amazon Gift Card!

      To show you our appreciation, you've been automatically entered to win a $50 Amazon Gift Card.*

      Ten Simplii clients will be randomly selected and winners will be notified by January 27th. Good luck!

      Thank you again for being a loyal client of Simplii.
      We're committed to making your banking simple.

      [...]

      *NO PURCHASE NECESSARY. Open January 20, 2020 to January 24, 2020 to legal residents of Canada (excluding Quebec) who: (i) have reached the age of majority in their jurisdiction of residence and (ii) are Simplii Financial account holders in good standing at the time of entry and winner selection. 10 prizes available to be won, each consisting of: $50 Amazon Gift Card. Odds of winning depend on number of eligible entries received.
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    • Not worth the hassle of reading all the fine print, applying, risking getting your card and pin stolen in the mail, activating the card, linking accounts to transfer funds, setting up pre-authorized debits, transferring remaining money out, then cancelling the account.
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    • genericasianguy wrote: Seems like CIBC got a whole bunch of Amazon.ca gift cards, got this email from Simplii (a CIBC subsidiary) this morning:
      I got no such email from Simplii, anyway to opt into he prize draw?
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    • dyalect wrote: $1000 in fees🙄
      Is there some fine print where you can't cancel the account until you die or something?
    • Report Post
    • Hornell wrote: Is there some fine print where you can't cancel the account until you die or something?
      Read fine print for anything CIBC.
      I cancelled a high interest cc from them - they offered me many more.
      Paid off ploc - they offered me another one a few weeks later.

      Just too many fees that end up eating anything you get from them as a gift. There are better options out there. This spider and fly thing with these companies should not appeal to anyone. Just sharing my 0.02.
    • Report Post
    • dyalect wrote: Read fine print for anything CIBC.
      I cancelled a high interest cc from them - they offered me many more.
      Paid off ploc - they offered me another one a few weeks later.

      Just too many fees that end up eating anything you get from them as a gift. There are better options out there. This spider and fly thing with these companies should not appeal to anyone. Just sharing my 0.02.
      +100
    • Report Post
    • dyalect wrote: Read fine print for anything CIBC.
      I cancelled a high interest cc from them - they offered me many more.
      Paid off ploc - they offered me another one a few weeks later.

      Just too many fees that end up eating anything you get from them as a gift. There are better options out there. This spider and fly thing with these companies should not appeal to anyone. Just sharing my 0.02.
      I appreciate it. I wanted to open up an Investor's Edge account and had a lot of difficulty transferring in money from my Simplii account. I was planning to open up the basic chequing and just use it as a conduit to get money into Investor's edge using e-transfers.

      I am guessing what they are really angling for with these incentive deals is for overdraft charges, since they can charge you ridiculous sums of money even if you're overdrawn by $10.
    • Report Post
    • Noobzilla wrote: Not worth the hassle of reading all the fine print, applying, risking getting your card and pin stolen in the mail, activating the card, linking accounts to transfer funds, setting up pre-authorized debits, transferring remaining money out, then cancelling the account.
      Agree. Even if you are since your job doesn't pay so much and this is ~3-4 hours of work (You'd think faster, but i've actually done this and no that is about as fast as possible doing it online since I was forced into a branch both to activate, and to cancel later.) tops if your savvy and CIBC doesn't screw anything up. That's $25-33/hr, meh.

      Plus the usual bait for all these rip off banks is $300. And $300 for a reason, they did the math, the amount of fee's they collect from the average person even if like 90% of cancel after getting the cash still nets them a huge profit. So even if you want to, just wait a bit and the $300 bait will come back, probably in the summer.

      At $300 I did it a cpl years ago, slightly higher than my usual pay at that rate but still not sure id bother again.

      Other notes:
      CIBC is the only big 5 that threatens you with a clawback if you cancel after you get the award (all of them claim to award in 3-4 months, in practice at least that or longer or never). I cancelled soon after I got the cash and its over a year now with no clawback. (Realistically they won't because it costs them more them more man hours they are likely to get back from the lost clients, so not a good bet)

      Amazon GC are great and very easy to use.. I shop there all the time. But even then, they are not cash-equivalent, because it's very easy to get them with 5%-20% or more cashback/points. (Huge corp discounts that a company CIBCs size they probably just straight up got a 20% or more discount on buying these in bulk).
    • Report Post
    • Too many conditions for a small reward. If they would have made it simple people would jump on this.
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    • promo sounds interesting. thinking of switching from smart account to smart plus account after i get the GC to avoid future fees after the 12 mos.
    • Report Post
    • Hornell wrote: I appreciate it. I wanted to open up an Investor's Edge account and had a lot of difficulty transferring in money from my Simplii account. I was planning to open up the basic chequing and just use it as a conduit to get money into Investor's edge using e-transfers.

      I am guessing what they are really angling for with these incentive deals is for overdraft charges, since they can charge you ridiculous sums of money even if you're overdrawn by $10.
      No.. what they are angling for is long-term customers with investable assets, borrowing needs (both personal and business).

      Banks make shit-all on bank fees and overdraft charges if you consider how much money they lose / have to write-off due to delinquent accounts. Also, overdraft charges are clearly spelled out in the account agreement... $5/per day or $4/month, plus interest... not arbitrary or ridiculous sums of money.

      Credit cards, investments, and business banking make up the bulk of most banks' profit.
    • Report Post
    • Eleventeen wrote: Agree. Even if you are since your job doesn't pay so much and this is ~3-4 hours of work (You'd think faster, but i've actually done this and no that is about as fast as possible doing it online since I was forced into a branch both to activate, and to cancel later.) tops if your savvy and CIBC doesn't screw anything up. That's $25-33/hr, meh.

      Plus the usual bait for all these rip off banks is $300. And $300 for a reason, they did the math, the amount of fee's they collect from the average person even if like 90% of cancel after getting the cash still nets them a huge profit. So even if you want to, just wait a bit and the $300 bait will come back, probably in the summer.

      At $300 I did it a cpl years ago, slightly higher than my usual pay at that rate but still not sure id bother again.

      Other notes:
      CIBC is the only big 5 that threatens you with a clawback if you cancel after you get the award (all of them claim to award in 3-4 months, in practice at least that or longer or never). I cancelled soon after I got the cash and its over a year now with no clawback. (Realistically they won't because it costs them more them more man hours they are likely to get back from the lost clients, so not a good bet)

      Amazon GC are great and very easy to use.. I shop there all the time. But even then, they are not cash-equivalent, because it's very easy to get them with 5%-20% or more cashback/points. (Huge corp discounts that a company CIBCs size they probably just straight up got a 20% or more discount on buying these in bulk).
      Where can you get 20% off Amazon GCs as an individual? Would love to know... I've purchased close to $10000 worth of Amazon GC in the past 2 years and my average is maybe 9% off.
    • Report Post
    • dyalect wrote: Read fine print for anything CIBC.
      I cancelled a high interest cc from them - they offered me many more.
      Paid off ploc - they offered me another one a few weeks later.

      Just too many fees that end up eating anything you get from them as a gift. There are better options out there. This spider and fly thing with these companies should not appeal to anyone. Just sharing my 0.02.
      I don't understand?

      Credit cards and PLCs are both free products.... unless you opted for a CC with an annual fee (your choice), I don't see why would be charged any fees. Especially the PLC... no fees, low interest.

      Were you using them irresponsibly and getting charged for things like going over your limit, or just carrying a balance and accruing interest charges?
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    • Fees kill the offer. Bottomline. CIBC is sketchy.
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    • Free for 12 months. Then what!?! >:)
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    • Free for 12 months. Then what!?! >:)
      keep balance of $3K for free acct or switch to Smart plus if qualified.
    • Report Post
    • My mom tried to open an account over the internet with CIBC with the promotion about the amazon gift card but she could not do it. So the CIBC contacted my mom and said: she would get the same promotion. So we booked the appointment with the bank and asked about the promotion the lady who booked the appointment promises once we open the account we will get the gift card. But my mom open the account and she did not get her gift card. They are layer, and This is fall advertisements. Somebody should do something about it.
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    • anyone knows when the gift card will arrive? thanks!
    • Report Post

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