The CIBC Funds Transfer Form lets you authorize or cancel electronic fund transfers for your CIBC Investor Services account. Use the guide below to complete it correctly.
How to Fill Out the CIBC Funds Transfer Form
Follow these steps to complete the form:
- Enter your account details. Write your full name, address, and CIBC Investor Services account number.
- Select your account type. Choose from investment account, RRSP, RESP, or TFSA.
- Choose personal or business use. Mark whether the transfer is for a personal or business account.
- Select the transfer currency. Choose Canadian dollars (CAD) or US dollars (USD). Only transfers from Canadian financial institutions are accepted.
- Choose the authorization type. Select "New Authorization" to set up a new transfer. Select "Delete Authorization" to cancel an existing one.
- Attach a void cheque or account statement. For chequing accounts, attach a personalized void cheque. For savings accounts, use an account statement or bank book.
- Sign and date the form. The account holder must sign to authorize the transfers.
What Is a Void Cheque and Why Is It Needed?
A void cheque confirms your bank account details. It shows your transit number, institution number, and account number. These details let CIBC link your external bank account to your investment account.
To void a cheque, write "VOID" in large letters across a blank cheque. Do not sign it. If you do not have a chequing account, use a bank statement or passbook instead.
Which Account Types Can Use This Form?
This form supports the following CIBC account types:
- Investment accounts
- Registered Retirement Savings Plans (RRSP)
- Registered Education Savings Plans (RESP)
- Tax-Free Savings Accounts (TFSA)
Both personal and business accounts are accepted.
What Are NSF Charges?
NSF stands for Non-Sufficient Funds. An NSF charge happens when your account does not have enough money to complete a scheduled transfer. CIBC may charge a fee for each returned transfer. Keep your account balance above the transfer amount to avoid these charges.
How Long Does a Fund Transfer Authorization Take?
Processing times vary. CIBC typically needs a few business days to set up a new authorization. Once authorized, on-demand transfers can be requested by phone or in writing. Contact CIBC Investor Services for current timelines.
Related Fund Transfer Forms
You may also need these forms for other transfer situations:
- Electronic Funds Transfer Form for general EFT authorizations
- Wire Transfer Request Form for international wire transfers
- Application Form for Funds Transfer for other fund transfer requests
- HSBC Fund Transfer Form for HSBC account transfers