rk said
This should probably be a separate topic.
I have received a targeted offer from CIBC which sounds really good ... except it is not clear what "have not held (either jointly or individually) an eSA as determined by CIBC on the basis of its official records " means.
Anyway, if you have never had a CIBC eSA , this is an excellent offer.
I received a text message to log in, as an offer was available.
After logging in, I found it.
The link is not public, though (I need to be logged in in order to see it).
It says: Cash back and savings, all in one
Get rewarded for saving with up to $3,000‡ with the CIBC eAdvantage® Savings Account.
Basically you get some cash back depending on the minimum balance that you keep for at least 90 days.
The full terms are public: https://www.cibc.com/content/d.....en.pdf  

Seems a number of the big banks are jumping on the bandwagon and starting to offer lump sum promo offers on savings accounts where the bonus is paid out at the end of the 90 days. One nice thing is the bonus lump sum may not be taxable, meaning they don't issue T5 slips for the payouts, sort of like how you don't get a slip for cashback on a credit card, etc,. In this instance, the offer may be specifically targeted so it may not have broad appeal, interesting nevertheless.

Mixups can happen. One friend was told by his condo that he was behind in his condo fees. He replied that his monthly condo fees have been paid by pre-authorized debit. His bank statements showed the PAD's. What happened to all that money?

Turns out the condo was crediting his debits to another unit and another unit's payments were being credited to his unit! No-one noticed until someone stopped paying their condo fee.

I will contact TD to get the debit reversed.
MY FEAR is now Credit reporting is going to ding me with a missed payment.

Any one else had this happen!

Alexandra said

April Bonus and Branch interest showed up today in my e-advantage savings account. Both were dated 30April26.  

Yup same here ... both back dated to Apr 30th.

Alexandra said

My interest hasn't yet showed up into my e-advantage savings account. It didn't show last month at this time either however when it did show the Bonus & Branch interest for that account was dated 31 March 26 and then later on the "Smart" interest was paid on the 8th of April.  

April Bonus and Branch interest showed up today in my e-advantage savings account. Both were dated 30April26.

anitavirginia said
in my case I went into branch and saw my advisor first,
he took photocopy of bank draft, and advised he would do whatever he had to do to activate the offer.
He then told me to go to teller and deposit bank draft.
That was Friday.
Now Tuesday, 1st attempt for chat online , stated they do not see an offer.
2nd attempt for chat online, different person, they stated they say they see notation that there is an offer, but no details available.
I emailed my advisor asking for confirmation and his response was,

"Offer for 4.8% is approved, will take some time to reflect the start/end date, will update soon.
The offer has a balance cap of $2,000,000."

I don't like the way they are not being clear about this transaction.
I hope the interest rate is effective the day I deposited funds. I am a bit worried.  

anitavirginia said
looked at interest for March,

It appears they did not give me interest for the 7 day hold on funds.
I had met with advisor in branch and gave him bank draft.
Am I not entitled to interest from day of deposit.?  

Here is an update,
After approx 1 full month, jumping through many hoops, I was able to get them to give me the promo interest for the 1st 7 days they had my funds.

So as of today, they have given me for March, .6% regular interest, plus 4.2% bonus interest, plus .25% smart interest.

For April, they have given me the .6% regular interest and the 4.2% bonus interest.
I expect the smart interest by the 7th or 8th of the month. (that's what happened last month).

I am not impressed in the way all of the CIBC staff I spoke to tried to discourage me from getting the bonus interest for the 1st 7 days, and wanted me to get the bonus interest for the 8th through 97th day. This would of given me only .6% interest for the 1st 7 days. I advised them that i signed up for the promo for up to 90 days, and not for 97 days , with the first 7 days not getting the promo rate.

I will be very careful in my future dealing with them.

Jim Sherat said
Q. for CIBC eSavings users:
Based on your experience(s), when is monthly interest generally posted to the account ?
fyi, I'm a first time CIBC client; opened an eSavings acct [4.60%] early April with 6 figures deposit, and was expecting interest would get posted overnight Apr 30th, but not the case.
Thank you.  

My interest hasn't yet showed up into my e-advantage savings account. It didn't show last month at this time either however when it did show the Bonus & Branch interest for that account was dated 31 March 26 and then later on the "Smart" interest was paid on the 8th of April.

¹ Regular interest is calculated daily at the current rate on each day’s full closing balance and paid on the last business day of the month. Your entire account balance earns the rate applicable to the tier your daily closing balance falls within.

This interest cannot be withdrawn and will not be printed at branch terminals or bank machines or made available through CIBC Telephone or Online Banking, until the second business day of the following month.

Interest rates quoted are annual. Interest rates and balance tiers are subject to change without prior notice.
…

My guess is that the interest for April will be posted by Monday, May 4 and backdated to Thursday, April 30.

In my view this is outright fraudulent misrepresentation on behalf of CIBC, and everyone out 2 days or more of interest could get it back by pursuing a complaint against the bank. We have done just that and will keep you posted. Hopefully they learn a lesson the hard way and stop trying to trick their existing customer base.

Even though my CSR e-mailed me with the offer, I needed to phone/e-mail him accepting the offer. I didn't know this but I left a message with him anyway to say that I had made a deposit into my e-advantage account. He e-mailed back to say he will activate the offer and I would receive interest after a 48 hour period. So I didn't make any interest on those first 48 hours.

He also said that for the next 90 days I would receive the 4.5% on any new deposits i.e. not to worry about the March deadline.

Because I am so wary of them, I deposited another $1100 on 1st of April and will wait until end of Month to see if I indeed do receive that interest. I have a substantial amount of funds currently in Tangerine @3.75% until end of April. We'll see what CIBC does at that time with the extra $1100 before I transfer in the Tangerine funds.

Raining here. Hope everyone has a lovely Easter Weekend!!

It appears they did not give me interest for the 7 day hold on funds.
I had met with advisor in branch and gave him bank draft.
Am I not entitled to interest from day of deposit.?

So, is it 4.50% or 4.80% or both?