REFER NEWCOMERS AND EARN CASH

To refer someone, you need to

• be a resident of Canada who has reached the age of majority in your province or territory of residence
• be registered for CIBC Mobile or Online Banking, and
• have an open and active CIBC personal chequing or savings account in good standing and comply with all terms.

To be eligible for a cash reward, refer friends and family new to Canada, who aren’t already CIBC clients, have had no prior banking relationship with CIBC since November 1, 2018, and are residents of Canada who have reached the age of majority in their province or territory of residence and under the age of 65.

They also need to

• have obtained their Canadian permanent residence status within the last 5 years, or 
• be a Foreign Worker with a Canadian work permit issued for at least a 12-month term. 

Your friend must use your referral link to open a CIBC Smart™ Account for Newcomers.

They will then need to follow all the instructions to set up their new account and complete the following eligibility activities:

• Make a deposit of at least $100 within 2 months of opening the account and maintain a minimum account balance of greater than $0 for at least 60 days. 
• Complete one of the following 2 activities within 60 days of opening their account:

i. set up at least 1 recurring direct deposit, or
ii. set up at least 1 recurring pre-authorized payment.

• Keep their account open to receive the cash reward at the time it is deposited or credited.

Refer as many newcomer friends or family members as you like and earn up to 10 referral rewards each year when your newcomer referrals meet all eligibility requirements, including the completion of eligible activities for both of you to qualify. 

Once your friend or family member has met the qualifying criteria for their referral reward, we’ll deposit your one-time reward in your CIBC account within 30 business days. Note that your account needs to be active and in good standing.

Your friend needs to use your referral link to open their first CIBC Smart™ Account for Newcomers. They then need to follow all the instructions to set up their new account and complete the following eligibility activities:

• Make a deposit of at least $100 within 2 months of opening the account and maintain a minimum account balance of greater than $0 for at least 60 days.
• Complete one of the following 2 activities within 60 days of opening their account:

• Keep their account open to receive the cash reward at the time it is deposited or credited.
  

Unfortunately, no. Your friend must use your unique referral link. They must meet all eligibility requirements and follow all the instructions to set up their new CIBC Smart™ Account for Newcomers and complete the eligible activities for both of you to qualify.

Joint accounts are not eligible for a referral reward. The friend or family member that you refer, who uses your referral link, must open their own CIBC Smart™ Account for Newcomers as their first account with CIBC and meet all eligibility requirements, including the completion of eligible activities for both of you to qualify.

While the CIBC Welcome to Canada Referral Program is active and while you maintain a CIBC deposit account that is active, open and in good standing, your referral information will not expire. 

Your friend must be an eligible client, follow all the instructions to set up their first CIBC Smart™ account for Newcomers and complete the eligible activities by the specified time period. For more information, review the CIBC Welcome to Canada Banking Package Online Referral Program Terms (PDF, 100 KB) Opens in a new window..