We’re committed to providing products, services, expert advice and tools to help seniors with everyday banking.
Programs and products for seniors
We have special products, programs and services to support seniors online, by telephone and in our CIBC banking centres.
Front of the line at banking centres
In our banking centres, we’re prioritizing seniors and persons with disabilities to the front of the line so we can serve you quickly and safely. During normal business hours, you’ll receive priority service and have your banking taken care of by our next available team member. A staff member will invite you out of the line, or you can identify yourself.
Priority telephone routing
We’ve launched priority phone routing for seniors age 75 and older, helping to make it faster, easier and safer for you to get your everyday banking done by phone. This new measure means that clients who are age 75 and older will automatically be moved to the front of the line when calling telephone banking.
We have accessible banking options to serve you better online, via telephone and in person at our banking centres. This includes offering Braille and large print communication options for select print materials. Also, statements for your CIBC deposit accounts and CIBC Visa* accounts can be provided to you in a selection of accessible formats.
When you turn 65, you're automatically eligible for the CIBC Smart for Seniors program. This program gives you special perks on your chequing and savings accounts. With our chequing accounts1 you can enjoy:
A lower monthly fee
Free Interac e-Transfer® transactions with the CIBC Smart™ Account and CIBC Smart™ Plus Account
An impersonator claiming to be a grandchild calls, asking for funds due to financial troubles. Common financial troubles include bail, ransom, family emergency and car accident injuries.
A fraudster sends a friend request through social media or dating site and spends time communicating to build a trusting relationship. They will then fabricate a financial issue in order to persuade you to send money.
Prize or inheritance scam
An unsolicited call may come from someone claiming you have won the lottery, inherited money or another monetary prize, and are required to pay taxes or a fee in order to receive the prize.
An unsolicited call may come from a computer or software company advising of security, warranty or other computer-related issues. The fraudster will claim they need to fix these issues remotely and take over your computer.
Scam red flags
If it sounds too good to be true, it usually is
Don’t fall for anyone asking you to move money for them
Any investment opportunity you learn about via the Internet should be approached with extreme caution
Legitimate lotteries do not require you to pay a fee or tax to collect winnings
Don’t accept a cheque or money order payment that is more than you agreed upon. The cheque is likely fraudulent
Best practices for avoiding scams
Always protect and keep your personal and banking information confidential
Be cautious of unsolicited text messages, emails and phone calls
Never send money to someone you’ve never met in person
Before sending any money, discuss your situation with someone you trust like a family member, friend or advisor
Turn on Push Notifications in the CIBC Mobile Banking app and in Online Banking so you can monitor your accounts
Use touch ID, facial recognition or two-step verification wherever it is available to keep your accounts secure
We've got the tools and tips to grow your financial know-how. For some additional resources to help you take care of your finances, your family and your future, visit Smart Advice.
Understanding powers of attorney and joint accounts
We all want to know our financial affairs are in good order, even when circumstances mean we can no longer manage them ourselves without assistance. Joint accounts and powers of attorney are ways you can allow other people to access your money.
What is a power of attorney?
A power of attorney is a legal document in which you assign one or more individuals, known as an "attorney," the authority to act on your behalf regarding financial or legal matters for property.
What is a joint account?
A joint account is a regular bank account in the name of two or more people with the same account privileges. Anyone, like a spouse, family member or friend, can be an account holder. With a join account:
Each person can deposit, withdraw or transfer funds, regardless of who put them into the account
Deposits payable to only one of the joint accountholders can still be deposited into the account
The risks of using a joint account
Some people see joint accounts as a simpler alternative to a power of attorney. But they are actually a transfer of ownership and can be risky. Since everyone has full and equal access to the funds regardless of where they originated, joint accounts can leave you vulnerable to financial abuse.
Please note: Multilanguage sites do not provide full access to all content on CIBC.com. The full CIBC website is available in English and French.