Cash Management
If your business has more complex cash management needs, put CIBC to work for you. From payment processing to account management to tax filing, we offer services that will save you time and lower your operating costs.
CIBC Government Payment & Filing Service
All businesses are required to remit taxes to Federal and Provincial government agencies. CIBC's Government Payment and Filing Service provides you with a simpler and faster way to remit payment, giving you more control over your cash flow.
Direct Deposit
CIBC EFT Direct Deposit service gives your business a fast and simple way to make electronic payments and avoid the costs associated with preparing, distributing, and reconciling cheques.
Automated Clearing House (ACH) Payables
Automated Clearing House (ACH) is a payment file service that provides business clients with an efficient and convenient electronic alternative when making U.S. dollar cross-border credit disbursements, similar to Electronic Funds Transfer (EFT) services in Canada. ACH provides a safe and secure environment for submitting U.S. dollar direct deposits to recipients in the U.S.
Merchant Electronic Bill Payments
Receive your payments quickly by providing multiple payment options.
Corporate Clearing
If you issue large volumes of cheques, the cost-efficiency and reliability of Corporate Clearing will be of benefit to you. As cheques drawn on your account are presented for payment, all pertinent data is electronically captured, and the cheques are returned to you promptly on a daily basis.
Positive Pay
In order to reduce your potential exposure related to cheque fraud, Positive Pay provides an automated matching process that quickly identifies exception items that are directed to you for instructions on payment.
Pre-Authorized Payment
CIBC Electronic Funds Transfer (EFT) Pre-Authorized Payment service gives your business a fast and simple way to withdraw funds from clients' accounts and get paid on time, every time. CIBC EFT Pre-Authorized Payment service makes collecting funds more predictable and cost-effective.
Automated Clearing House (ACH) Receivables
Automated Clearing House (ACH) is a payment file service that provides business clients with an efficient and convenient electronic alternative when making U.S. dollar cross-border debit collections, similar to Electronic Funds Transfer (EFT) services in Canada. ACH provides a safe and secure environment for submitting U.S. dollar pre-authorized payments to recipients in the U.S.
Rapidtrans®
Consolidate funds in your central account overnight, no matter where in Canada deposits are made. With Rapidtrans, CIBC provides you with a detailed account of your deposits, giving you better control over your cash flow.
Lockbox
A CIBC Lockbox eliminates in-house cheque and invoice processing for payments you receive from your corporate clients. We handle the entire process - from opening the mail to sending you the information you need to update your receivables - giving you faster access to your payments. Lockbox locations are available in Canada and the U.S.
Deposit Acceleration
With Deposit Acceleration, your cash flow becomes easier to manage. Funds from across your organization are immediately credited to your concentration account and ready for use, regardless of where deposits are made. And Deposit Acceleration reports keep you informed of how each location is contributing to your company's cash flow.
Account Reconciliation Service
Save time by reconciling your cheques electronically, with flexible reporting that can align with your company's accounting periods.
Centralized Cash Control
Each day the Centralized Cash Control service transfers and consolidates operating account balances (whether debit or credit) to a central concentration account. This allows for optimized cash management by consolidating operating account positions daily to create a centrally managed pool, helping to maximize interest earned and reduce borrowing costs.
Payroll Services
Cost-effective payroll services from Ceridian Canada eliminate the need to operate your own payroll department.
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