Receivables Management

CIBC Electronic Funds Transfer (EFT) — Pre-Authorized Payment (PAP)

Collect regular and recurring Canadian and U.S. dollar payments online from your customers anywhere in Canada so you’ll always feel confident in your cash flow position. A predictable and cost-effective way to collect payments and reduce operational costs. Submit your electronic payment file directly from your treasury management system or through CIBC Cash Management Online® (CMO)Opens in a new window.. Your payments will be processed automatically.

CIBC Electronic Data Interchange (EDI) Receiver Service

Receive payments and accompanying detailed remittance information from your EDI-capable customers for efficient payment reconciliation, even if your company is not EDI-capable. If your system is EDI-capable, remittance information can be automatically imported into your processing application, with limited data entry.

CIBC eDeposit™ for cash 

Helps you improve your business’ cash flow and save time by depositing cash electronically into your business account using a Brink’s CompuSafe®. The value of cash held in the CompuSafe is electronically deposited to your CIBC business account for same-day credit for cash still on your premises, helping you better address your payment obligations. Throughout the day, your employees can deposit cash directly into the CompuSafe using integrated bill counters. Optional cash/coin dispensers and recyclers allow employees to withdraw funds for a new till. At the end of the day, the CompuSafe reports the total value of cash deposits to CIBC. Your cash is picked up by armoured car and delivered to CIBC, saving time and resources spent making manual deposits.

CIBC Wholesale Lockbox 

Eliminate in-house remittance processing for receivables. A CIBC Wholesale Lockbox eliminates in-house cheque and invoice processing for payments from your corporate customers, giving you faster access to your receivables. Lockbox locations are available in Canada and the U.S. Lower operating costs when you outsource a critical part of your receivables management to CIBC’s business banking experts.

CIBC Acceptance of Payments of Account (APA)

Easy and convenient bill payment collection. Let your customers make their bill payments flexibly, with the CIBC Acceptance of Payment of Account (APA) service. With the 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.

Merchant Services

Simplify how you accept payments, get fast access to your funds and improve customer satisfaction with solutions from our merchant services partner, Global Payments. Global Payments is a leading provider of payment technology and software solutions, with a wide range of solutions that allow you to collect debit and credit card payments in store, online, by mail or phone. You can also take advantage of detailed payments reporting and analytics to better manage your cash flow.

Interac e-Transfer^® Business Request Money

With Interac e-Transfer^® Business Request Money (BRM), you can automate and scale your money requests (also known as “request to pay”) to collect payments from your customers. BRM enables Interac e-Transfer payments for a wide range of use cases, helping you migrate unstructured commerce to more efficient digital processes. It can be integrated via API across multiple channels, including eCommerce platforms, electronic invoices and financial platforms such as brokerages.

The solution can be programmed to automatically generate payment requests with prefilled transaction details and offers flexible fulfillment options for payors, both in-channel and through mobile using QR codes. Payors maintain full control by selecting their preferred bank and account, just as they would with standard Request Money transactions.

With BRM, you benefit from high-volume, automated receivables, real-time tracking and efficient reconciliation.