CIBC mortgage
Pay your CIBC mortgage with Chexy.
Pay your CIBC mortgage through Chexy from the chequing account you already use, and earn 1 Aeroplan point per $1 on eligible payments.* Switching takes a call and an email.
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How to
How to pay your CIBC mortgage with Chexy
1
Sign up for Chexy
Create your account, verify your identity and add the chequing account you pay your mortgage from today, plus your Aeroplan number.
2
Set up your mortgage
Pick CIBC as your lender and confirm your mortgage details. Chexy gives you its account details and a void cheque for CIBC.
3
Call CIBC, then email your void cheque
Give CIBC your Chexy institution, transit and account numbers by phone. Then email your Chexy void cheque to [email protected] with your mortgage number and the representative’s ID in the subject line.
4
Chexy pays CIBC
On your usual payment date, Chexy debits your chequing account and pays CIBC as usual. Points arrive after every payment.*
What you can pay
How it works with your mortgage
Your CIBC mortgage
Your CIBC mortgage stays exactly as it is. Chexy only changes which account your payment comes from.
- Your regular mortgage payment. The same amount, on your usual payment date.
- Paid by pre-authorized debit. CIBC keeps withdrawing your payment automatically. It just comes from your Chexy account.
- No changes to your mortgage. Same lender, same rate, same term. Nothing to refinance, nothing to re-apply for.
1.75% per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75.
Timing
When CIBC gets paid
- At least two weeks before your next payment
- Give your lender your Chexy account details, so the change is in place in time.
- About a week after your email
- The new account usually takes effect within a week.
- Your usual payment date
- Chexy withdraws your payment plus the fee from your chequing account, never in advance, and pays CIBC on schedule.
Paying your CIBC mortgage with Chexy: questions
Can I pay my CIBC mortgage through Chexy?
Yes. Chexy pays CIBC from the chequing account you already use, on your usual payment date, and you earn 1 Aeroplan point per $1 on eligible payments.*
Where do I send my Chexy void cheque?
After your call, email it to [email protected]. Put your mortgage number and the representative’s ID in the subject line.
Will CIBC confirm the change?
Probably not by email. The new account usually takes effect within a week of your email.
Do I pay with my credit card?
No. Mortgage payments through Chexy come from your chequing account, the same account you pay from today. You earn Aeroplan points directly through Chexy, no credit card required.
What does it cost?
There’s a 1.75% fee per payment, added to your withdrawal. On a $2,500 mortgage payment, that’s $43.75. You also earn 2,500 Aeroplan points on that payment.*
Does this change anything about my mortgage?
No. Your rate, term, amortization and payment schedule all stay exactly the same.
The fine print
- *Conditions apply. 1 Aeroplan point per $1 on eligible mortgage payments made through Chexy.
- Write down the representative’s ID before you hang up. CIBC needs it, with your mortgage number, in the subject line of your void cheque email.
- CIBC usually doesn’t send a confirmation email after you send the void cheque. That’s normal.
- Keep your old account funded until you see a mortgage payment come out through Chexy. Until the change takes effect, your lender still draws from the old account.
- Chexy is not a mortgage lender, mortgage broker or party to your mortgage.
Sources: Chexy Insider: How to pay your CIBC mortgage with Chexy · How to switch your mortgage payments to Chexy · Chexy mortgage payments · How much does Chexy cost?. CIBC is not affiliated with Chexy.
Also: Pay your TD mortgage with Chexy · Pay your RBC mortgage with Chexy · Pay your Scotiabank mortgage with Chexy · Pay your BMO mortgage with Chexy · Pay your First National mortgage with Chexy · Pay your National Bank mortgage with Chexy · Pay your Equitable Bank mortgage with Chexy · Pay your MCAP mortgage with Chexy · All payees
Earn Aeroplan points on your CIBC mortgage.
1.75% per payment, added to your withdrawal