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CIBC Mobile Banking now lets Canadians deposit cheques with their phones

CIBC Mobile Banking now lets Canadians deposit cheques with their phones

New feature will save individual and small business clients time and provide faster access to funds

TORONTO, Nov. 27, 2013 /CNW/ - CIBC, the first bank in Canada to launch a Mobile Banking App, today extended its suite of mobile banking innovations with eDeposit, a new feature that lets personal and small business clients deposit cheques to their CIBC account simply by taking a photo of the cheque with their mobile device.

"The convenience of depositing cheques simply by taking a picture with your phone means you can make a deposit where, how and when you would like, which will save CIBC's 11 million clients time and provide faster access to those funds," said David Williamson Senior Executive Vice President and Group Head, Retail and Business Banking, CIBC."Whether you are a are a small business owner with a handful of customer cheques at the end of day or an employee getting your weekly paycheque, you can literally make a deposit within seconds."

This innovation makes CIBC the first of the major banks in Canada to offer Canadians deposit taking where, how and when they would like - in more than 1100 branches, over 3500 ABMs or from the comfort of their homes using their mobile devices.

The CIBC eDeposit process is simple, quick and easy.

    --  Just open the CIBC Mobile Banking App and select the eDeposit
    --  Endorse the back of the cheque.
    --  Take a picture of the front and back of the cheque.
    --  Select the account to receive the deposit and enter the amount
        of the cheque.
    --  Tap submit, wait for confirmation, and then mark the paper
        cheque as paid.
    --  Retain the cheque for 5 days, and then destroy it.

Adding a mobile cheque deposit feature was the top request identified by CIBC 
clients, who deposit millions of cheques each year. As with all of CIBC Mobile 
Banking Apps, the CIBC eDeposit feature is safe and secure. None of the 
financial information is stored on your device and all wireless transmissions 
are securely encrypted.

CIBC clients who already have the CIBC Mobile Banking App will see the new 
eDeposit feature after they update the App to the newest version. New users 
can download the CIBC Mobile Banking App with the new eDeposit feature today 
from the Apple App Store and Google Play Store. The CIBC Mobile Banking App 
works with iPhone, iPod touch, iPad and all 4.x Android smartphones and 

For more information or to view an online demonstration of the new CIBC 
cheque deposit feature on the CIBC Mobile Banking 
App, visit

CIBC is a leading North American financial institution with nearly 11 million 
personal banking and business clients. CIBC offers a full range of products 
and services through its comprehensive electronic banking network, branches 
and offices across Canada, and has offices in the United States and around the 
world. You can find other news releases and information about CIBC in our 
Press Centre on our corporate website at


Kevin Dove, Head of External Communications, CIBC, 416-980-8835,

To view this news release in HTML formatting, please use the following URL:

CO: Canadian Imperial Bank of Commerce ST: Ontario NI: FIN NP

-0- Nov/27/2013 19:00 GMT

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