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 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 feature.
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
Tap submit, wait for confirmation, and then mark the paper cheque as
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 tablets.
For more information or to view an online demonstration of the new CIBC
cheque deposit feature on the CIBC Mobile Banking
App, visit cibc.com/edeposit.
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
For further information:
Kevin Dove, Head of External Communications, CIBC, 416-980-8835, firstname.lastname@example.org