Why you should have a CIBC Business Banking Convenience Card in your wallet
Learn how to make the most of your CIBC Business Banking Convenience Card.
Joseph CampagnaMar. 27, 2022
The CIBC Business Banking Convenience Card® is a debit card issued to your business. It lets you bank in the way that best suits you. Use the card at any CIBC banking centre or ATM. You can also use it for Interac® Direct Payment, CIBC Telephone Banking, CIBC Online Banking® and CIBC Mobile Banking®.
You can issue delegate cards to your employees and customize their levels of access.
What can a Business Banking Convenience Card do for me?
You can tailor each delegate’s level of access according to their responsibilities. It’s completely up to you.
Routine banking tasks: Let your delegate do one task, or many
Account access: From limited access to a single account to full access on all accounts
Limits and access levels: For ATM transactions and Interac Direct Payment point of sale purchases
You can monitor your delegates’ activities on your monthly statement or online. And you can revoke or change access for delegates any time.
How do I add a delegate?
Once your business account is open, you can issue cards to your company’s delegates. Prepare a letter of direction3 on your company’s letterhead authorizing CIBC to add your employee to your business account as a delegate. You and your employee will need to visit the banking centre and provide identification.
Your CIBC business advisor works with you to assign your company’s delegates and manage their access.
Are there limits on transactions?
Your card may be set up with limits on certain transactions:
Daily ATM limits of up to $1,000 and Interac Direct Payments limit of up to $3,000. Your card or delegate cards can be set up with much lower daily limits, or no access to cash or point of sale.
Pay bills and transfer funds up to $50,000.
Send up to $80,000 through CIBC Global Money Transfer.
Joseph Campagna is a CIBC Business Banking professional with expertise in deposits, cash management and credit. He has extensive experience developing relationships, providing advice and helping Business and Commercial Banking clients achieve their financial goals.
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