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Important Steps for Preparing & Delivering your Wallet Deposits

The Wallet Depository service is designed for business clients who: deposit large amounts of cash, coin, or cheques; would like to reduce exposure when making deposits; prefer not to wait in the branch while deposits are processed; or have business needs which may include banking outside regular banking hours.

Below are some important steps to help ensure the security and prompt processing of your wallet deposits:

  • Please ensure you use the correct deposit slip to avoid confusion, delay and minimize processing errors
  • Preparing and delivering your deposits in the presence of 2 or more employees will increase deposit accuracy and provide additional security to both your employees and your deposits
  • Including only 1 deposit per deposit wallet will avoid confusion and minimize processing errors
  • Using a CIBC approved, tamper-evident, plastic wallet bag will minimize potential avoidable losses

Wallet deposit only

Wallet deposit with ABM entry

When preparing and making your wallet/night deposit:

  1. Make sure you are using the:
    • Business Account Deposit Slip, non-ABM (for In-branch or Wallet/Night deposits)
  2. Clearly printing all information on the deposit slip, including the Wallet Number (located at the top of the wallet) will minimize processing errors
  3. Place the deposit, with the "Wallet Copy" of the deposit slip, into the wallet
  4. Do not overfill and limit the amount of coin to prevent breakage of the wallet
  5. The tear off record from the wallet is your receipt; attaching this to the "Customer Copy" of your deposit slip, and then storing both in a secure location will allow you to easily refer to them if in future inquiries into the deposit are necessary.
  6. Delivering your deposit ONLY to your assigned wallet deposit chute enables timely processing and avoids misplacement of your deposit

When preparing and making your wallet/night deposit:

  1. Make sure you are using the:
    • Business Account Deposit Slip, ABM-Wallet Combo (for combined Wallet & ABM deposit service ONLY)
  2. Clearly printing all information on the deposit slip, including the Wallet Number (located at the top of the wallet) will minimize processing errors
  3. Place the deposit, with the "Wallet Copy" of the deposit slip, into the wallet
  4. Do not overfill and limit the amount of coin to prevent breakage of the wallet
  5. The tear off record from the wallet is your receipt;attaching this to the "Customer Copy" of your deposit slip, and then storing both in a secure location will allow you to easily refer to them if in future inquiries into the deposit are necessary
  6. Delivering your deposit ONLY to your assigned wallet deposit chute enables timely processing and avoids misplacement of your deposit

When making your ABM entry …

  1. Making the ABM entry within 24-hrs of the physical deposit avoids processing errors
  2. Place only the "Bank Machine Copy" of the deposit slip in the ABM deposit envelope
  3. Keep the transaction record from the ABM with the "Customer Copy" of the deposit slip

TIP: Using CIBC Small Business Customized Access™ Delegate cards will help keep track of which employee makes the deposit.

  • Checking and reconciling your business statements regularly, to confirm your wallet deposit was processed correctly, enables you to make any inquiries about your deposit in a timely manner
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