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Corporate Credit Processing

Corporate Credit Processing (CCP) allows you to deliver large volumes of cheques directly to CIBC's Processing Centres for processing. This eliminates the need for you to deliver your cheques to a CIBC branch for deposit and processing.

Why use Corporate Credit Processing?

Corporate Credit Processing provides you with an extended window for delivering cheques to CIBC while still receiving same-day value for the items. You encode and batch all of the cheques and prepare a deposit ticket for each batch. Once the batches are delivered to CIBC, we process them through our Automated Clearing and Settlement System. This system feeds the information to our Commercial Deposit System for posting to your CIBC business account.

Service Features

  • Extended Cut-off time
    Extended window to deliver cheques to CIBC. For batches of cheques received at CIBC Processing Centre by 8:00pm local time you receive same-day value for the funds.
  • Processing for Canadian and US dollar items
    CCP provides processing for both Canadian and US dollar items. As long as you have at least one business account for Canadian dollar and one for US dollar we can post the CCP credits.
  • More than one processing location
    Multiple Processing Centres accommodate your multiple deposit locations (Generally located in the major centres).
  • Daily reporting available
    You can choose to receive daily reporting.
  • Unprocessable items returned
    Items that cannot be processed are returned to you. These could include currencies other than CAD or USD, items not encoded with bank information, bonds, coupons, etc.

Service Hours

  • Processing Centres must receive cheques by 8:00pm local time.
  • Paper reports are available for pick-up by 10:00am local time one business day after processing.

Delivery Methods

  • Items are delivered to the Processing Centres by client-specified courier at client's risk and expense.
  • Special tamper-proof deposit delivery bags must be used.
  • Client must advise Processing Centre of courier company name and time of delivery.

The above is intended to be only a general description of this product and its features. CIBC reserves the right to change or discontinue this product or any of its features at any time. This product and its features shall be subject to the terms and conditions of the applicable agreement governing its use.

For further information, please contact your CIBC representative or get in touch with us directly at 1-877-873-2765.

Copyright® 2004 Canadian Imperial Bank of Commerce. All rights reserved.