CIBC Mobile Banking Lets Canadians Deposit Cheques With Their Phones

TORONTO – CIBC, the first bank inCanada to launch a Mobile Banking App,today extended its suite of mobile bankinginnovations with eDeposit, a new featurethat lets personal and small business clientsdeposit cheques to their CIBC accountsimply by taking a photo of the chequewith their mobile device.“The convenience of depositingcheques simply by taking a picture withyour phone means you can make a depositwhere, how and when you would like, whichwill save CIBC’s 11 million clients time andprovide faster access to those funds,” saidDavid Williamson Senior Executive VicePresident and Group Head, Retail andBusiness Banking, CIBC. “Whether you area small business owner with a handful ofcustomer cheques at the end of day or anemployee getting your weekly paycheque,you can literally make a deposit within seconds.”This innovation makes CIBC the firstof the major banks in Canada to offerCanadians deposit taking where, how andwhen they would like – in more than 1100branches, over 3500 ABMs or from thecomfort of their homes using their mobiledevices.The CIBC eDeposit process is simple,quick and easy.• Just open the CIBC Mobile BankingApp and select the eDeposit feature.• Endorse the back of the cheque.• Take a picture of the front andback of the cheque.• Select the account to receivethe deposit and enter the amount of thecheque.• Tap submit, wait for confirmation,and then mark the paper cheque as paid.• Retain the cheque for 5 days, andthen destroy it.Adding a mobile cheque deposit featurewas the top request identified by CIBCclients, who deposit millions of chequeseach year. As with all of CIBC MobileBanking Apps, the CIBC eDeposit featureis safe and secure. None of the financialinformation is stored on your device andall wireless transmissions are securely encrypted.CIBC clients who already have theCIBC Mobile Banking App will see thenew eDeposit feature after they updatethe App to the newest version. New userscan download the CIBC Mobile BankingApp with the new eDeposit feature todayfrom the Apple App Store and GooglePlay Store. The CIBC Mobile Banking Appworks with iPhone, iPod touch, iPad and all4.x Android smartphones and tablets.For more information or to view anonline demonstration of the new CIBCcheque deposit feature on the CIBC Mobile