1 CIBC balance alerts are available for clients who have:
- CIBC personal deposit, credit card, line of credit account, and the following eligible registered accounts: Life Income Fund – Daily Interest Savings Account, Registered Retirement Income Fund – Daily Interest Savings Account, Registered Retirement Savings Plan – Daily Interest Savings Account and Tax Free Savings Account – Tax Advantage Savings Account; and
- provided CIBC a valid email address, mobile number, or registered for CIBC mobile or online banking, and haven’t opted out of receiving balance alerts.
We’ll notify you when:
- the available balance (excluding any overdraft protection and funds on hold) of your personal chequing, savings or eligible registered account drops below an amount you set (or $100 by default), and
- the available credit on your personal credit card or line of credit account drops below an amount you set (or $100 by default). For credit cards accounts, balance alerts will be sent to the Primary Cardholder only.
We’ll send balance alerts by email or text message. You’ll also receive alerts in My Messages if you’re registered for CIBC mobile or online banking. To change how you receive alerts, or opt out of alerts, go to Manage My Alerts. You may opt out of these alerts by following the instructions in the alert message (or otherwise provided by us) or through CIBC mobile or online banking,
Due to their nature, alerts may be intercepted, reviewed or altered by others with access to your account or device(s). We will not be liable for losses arising out of your use of (or inability to use) the alerts, or if alerts are delayed or not delivered due to factors beyond CIBC’s reasonable control except as may be required by applicable law.
2 Available to clients who have:
- Non-registered accounts, except for the CIBC Bank USA Smart Account and CIBC Personal Lines of Credit (PLC) accounts;
- Eligible accounts that are in good standing; and
- A valid mobile number on file with those accounts
All personal non-registered deposit accounts are eligible for the CIBC Smart Balance Alert subject to the following:
i. You must have a valid mobile phone number on CIBC’s records
ii. Your account must be in good standing
iii. You must be a resident of Canada who has reached the age of majority
iv. You must not have opted out of the short-code 242-228. To opt back in, reply with “Start”
- You’ll automatically receive the CIBC Smart Balance Alert SMS service. You can opt out of the alert at any time by texting “Stop” to 242-228
- If you choose to opt out of the short-code 242-228, you are opting out of all messages CIBC can send through this short-code
- You’ll continue to receive CIBC alerts from other short-codes as per your preferences
v. This service isn’t available on the CIBC Bank USA Smart Account and CIBC Personal Lines of Credit accounts
i. The CIBC Smart Balance Alert is sent the business day following the day a pre-authorized debit or cheque is processed and your account balance, based on the previous business day’s closing balance, is below $0 or you exceed your overdraft limit. If you add sufficient funds to your account to cover the pre-authorized debit or cheque before 12 pm and bring your account above $0 or within your overdraft limit, the payment won’t be impacted. If you’re unable to do so, the payment may be returned and a non-sufficient funds (NSF) fee may be charged.
- The SMS will be sent according to the time zone of the transit where your account is domiciled.
ii. The CIBC Smart Balance Alert SMS service is dependent on technology systems which can be disrupted. CIBC isn’t liable for a delayed SMS or no SMS being sent out. Continue to monitor your transactions on a regular basis to avoid negative balances and associated fees.
iii. CIBC reserves the right to withdraw this service at any time without notice.
iv. You can opt out of the alert by texting “Stop” to the short-code 242-228. To opt back in, text “Start.” Any other responses to the short-code are unmonitored.
i. All owners of a joint account with a valid mobile number on file will be notified.
i. Other standard account and overdraft fees will continue to apply.
Ava has $100 in her Smart account. She has set up a pre-authorized debit with Company X. Her debit agreement states that $150 will be drawn on the 1st of the month.
On February 1, Company X withdraws $150 from Ava’s account. CIBC pays Company X as per Ava’s agreement with Company X. The transaction is processed overnight.
At 8:30 am on February 2, Ava receives the CIBC Smart Balance Alert. She signs on to her CIBC Mobile Banking App and confirms that she’s overdrawn by $50. She moves $100 from her eAdvantage Savings Account to her Smart Account immediately, bringing her balance to positive $50. Because she has transferred enough funds to cover the payment before 12 pm, her payment isn’t returned and no non-sufficient funds (NSF) fee is charged.
At the end of the month, Ava is charged her monthly account fees and an overdraft fee. She’s charged the overdraft fee because CIBC paid Company X on her behalf and her end of business day closing balance on February 1 was negative. Learn more about standard account fees in your CIBC Personal Account Agreement (PDF, 215 KB) Opens in a new window..
3 Standard overdraft limit fee and interest applies. Learn more about standard account fees in your CIBC Personal Account Agreement (PDF, 215 KB) Opens in a new window..