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Step-by-Step Guide to Opening a CIBC Savings Account

Opening a CIBC Savings Account can be an excellent step towards achieving your financial goals. With it, you get to save money and earn interest simultaneously. Whether you plan to save for emergencies, big purchases, retirement, or simply want to grow your wealth, a CIBC savings account can be a beneficial financial tool. The process of opening an account is hassle-free and can be done through online banking, a mobile app, or a call to customer service. This article will guide you in each of these methods.

Option 1: Opening CIBC Savings Account Through Online Banking

Online banking has become the cornerstone of modern banking as it offers unparalleled convenience. With CIBC, you can easily open a Savings account from the comfort of your home. Here are the steps:

• Visit the CIBC website.
• On the top of the page, click on "Accounts."
• Select "Savings Account" and choose the one that suits your needs.
• Click on "Apply Now" button. Fill in required fields such as Social Insurance Number (SIN), employment details and income, contact information and address.
• Submit the application. The system will process the application and notify you once approved.

Option 2: Using the CIBC Mobile App

Smartphone apps are fast becoming the most preferred method of banking for their ease of use and accessibility. The CIBC mobile app allows the convenience of opening a new savings account right from your phone. Here's how:

• Download and install the CIBC Mobile Banking App from Apple's App Store or Google Play Store.
• Open the app and navigate to “Accounts” section.
• Tap on "Open an Account."
• Choose the type of savings account that suits your needs.
• Complete the necessary input fields (Social Insurance Number (SIN), employment details and income, contact information and address).
• Once all information has been provided, submit the application. Your application will be processed in real-time and you will be notified of approval.

Option 3: Call CIBC Customer Service

If you prefer more traditional methods, or would appreciate the guidance of a live person, opening your savings account over the phone could be the route for you. Follow these steps for phone banking:

• Call CIBC customer service at 1-800-465-2422.
• When prompted, select the option for opening a new account.
• Provide the representative with the necessary details – including your Social Insurance Number (SIN), employment details and income, etc.
• The representative will help in completing your application. Once the application is processed and approved, you will be notified.

Opening a CIBC Savings Account is a simple and straightforward process regardless of the method you choose. It's all about picking the option that fits best with your individual needs and comfort level. Remember, you're taking steps towards a more secure financial future, and it all starts with opening your account.