There are a number of financial products and services available to help you run your business efficiently. The scenarios below will give you some sound examples of how to save time and money.
Situation 1: "I go through so many cheques by the time I pay supplier invoices, do payroll, and pay taxes."
TIP: Reduce the number of cheques you use - and simplify your paperwork - by using an Electronic Funds Transfer service like CIBC Direct Deposit or our Government Payment and Filing Service, or by paying bills online.
Situation 2: "We go to the bank at least twice a week to make deposits in person."
TIP: If you're receiving regular, recurring payments, our Pre-Authorized Payment service is convenient for both you and your customers. Withdrawals are made automatically from the customer's account and are deposited in yours.
Situation 3: "I do a lot of business with suppliers and customers in the States, and monitoring the exchange rate is becoming very time-consuming."
TIP: There's no need to line up or wait on the phone for current quotes. You can keep track of your foreign exchange transactions easily, and securely, with CIBC Foreign Exchange Online. Another option is opening a U.S. Dollar Account.
Situation 4: "Getting to my bank branch isn't always convenient."
TIP:CIBC Small Business Customized Access™ allows you to assign financial transactions and tasks to trusted employees - freeing up your time to focus on the things that matter most to your business. Alternatively, you can arrange to make deposits at a predetermined CIBC branch that's more convenient for you and receive same-day value. Other options include utilizing a CIBC bank machine or making night deposits.
For help in making your banking easier and more convenient, be sure to contact your CIBC Business Advisor.