CIBC Up To $400 Brokerage Bonus [Canadians Only]

Deal is only for Canadians, didn’t realize that or wouldn’t have posted.

The Offer

Direct link to offer

• CIBC is offering a bonus of up to $400 when you transfer funds from outside CIBC to a CIBC Investor’s Edge account. The bonus you receive will depend on the amount of funds you transfer in:
  • $400 when you transfer in $100,000 or more
  • $200 when you transfer in $50,000 to $99,999
  • $100 when you transfer in $25,000 to $49,999

The Fine Print

• The cash back offer (the “Offer”, described in paragraph 2 below) begins on November 1, 2018 and ends on May 2, 2019 (the “Offer Period”). The Offer applies to eligible transfers into a new or existing CIBC Investor’s Edge account (the “Account”) with CIBC Investor’s Edge, a division of CIBC Investor Services Inc., that are initiated during the Offer Period. The date on which the Transferred Assets are received in the Account is referred to as the “Transfer-In Date”..
• Cash credits pursuant to the Offer will be applied to each Account that holds an eligible amount of Transferred Assets in the week of May 6, 2019 for transfers received by December 31, 2018, in the week of July 1, 2019 for transfers received after December 31, 2018 and prior to February 28, 2019, and in the week of September 2, 2019 for transfers received after February 28, 2019 and prior to July 1, 2019.
•  In order to be eligible for the Offer:
  1. The Transferred Assets must be transferred to CIBC Investor’s Edge from an account that is not held at any of the CIBC group of companies. The CIBC group of companies includes but is not limited to: Canadian Imperial Bank of Commerce (CIBC), CIBC Imperial Service, CIBC Imperial Investor Service, CIBC Asset Management Inc., CIBC Securities Inc., CIBC Wood Gundy, CIBC Private Investment Counsel, CIBC Trust Corporation, CIBC Atlantic Trust Private Wealth Management, or such other subsidiary or affiliated company of CIBC from time to time;
  2. The transfer of Transferred Assets must be initiated and the necessary transfer documentation must be in the possession of CIBC Investor’s Edge on or before May 2, 2019; and
  3. The Transfer-In Date must be between November 1, 2018 and July 1, 2019 to be eligible for the Offer, and subsequent deposits initiated after May 2, 2019 are not eligible for the Offer.
• CIBC Investor’s Edge is not responsible for transfers that are not initiated, received or completed by these dates due to technical problems or malfunctions. You are solely responsible for the payment of any fees, penalties, charges or other amounts associated with the transfer of Transferred Assets to Account(s).
• The Offer is non-transferable and cannot be combined with any other CIBC Investor’s Edge promotional offer. You are only entitled to one promotional offer within any twelve (12) calendar month period. The Offer will be applied to a maximum of two (2) accounts per household, which means one or more clients residing at the same address.

Our Verdict

Personally I don’t really find these sorts of brokerage bonuses as worth doing, although I know some readers disagree with me and find them quite profitable. This seems to be competitive with other brokerage bonuses, e.g Merrill Edge offers $900 for transferring in $200,000. For those more familiar with these sorts of brokerage bonuses, feel free to discuss the merits of this particular offer in the comments below.