CIBC Acceptance of Payments of Account

Making bill payment collection easy and convenient

CIBC Acceptance of Payment of Account (APA) service offers your clients multiple options for making their bill payments. With APA service, payment information is consolidated and the funds are deposited to your account via Electronic Funds Transfer (EFT), giving you access to your money sooner.

Benefit from single point of contact

  • CIBC acts as the lead bank and assists in making arrangements with other Financial Institutions (FIs) to accept your paper bill payments
  • CIBC provides you with an implementation specialist dedicated to assisting you with the setup process

Simplify your receivables

  • Eliminate the manual entry of account receivable data through electronic reporting
  • Choose from having your remittance information delivered via Electronic Data Interchange (EDI), File Transfer Service (FTS) or fax

Reduce your administrative costs

  • Reduce time spent on manual processing - including opening mail, sorting payments, preparing a deposit and going to the bank to make your deposit
  • Eliminate the need to supply return envelopes to help keep costs down, save time and reduce operating costs

Flexible payment options

  • Payments can be made through ATMs, on-line banking, telephone banking and through the branch network, making paying bills more convenient for your clients, increasing customer satisfaction
  • Accept paper payments with remittance stubs over-the-counter or at ATMs of participating Financial Institutions (FIs)
  • Electronic bill payments without remittance stubs can also be accepted at paperless ATMs of participating Financial Institutions (FIs)

Eliminate Returned Items for Non-Sufficient Funds (NSF)-Electronic Payment Only

  • Prior to making an electronic payment, your clients must have the funds available in their account. Payments will not be returned as NSF or Funds Not Cleared. Note: Payments made by your client in error, other than paper payments made over-the-counter with remittance stubs, can be reversed from your account up to 90 days after the payment date

Run your business your way

CIBC Cash Management Solutions can help you take better control of your banking needs - giving you more time to focus on what matters to your business. Get started today:

  • Talk to your CIBC Representative for details or call our Business Contact Centre at 1-888-947-7736

The above is intended to be only a general description of this product and its features. Some conditions may apply. 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.