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How to Put Money into Your CIBC TFSA: A Comprehensive Guide

Whether you're a seasoned investor or just starting out, putting money into a Tax-Free Savings Account (TFSA) could be a great step towards your financial goals. With CIBC, you have various options to contribute to your TFSA. In this guide, we'll take you through each one, including online banking, their mobile app, and calling customer service.

Online Banking

One of the simplest and most convenient ways to funnel money into your CIBC TFSA is through their Online Banking platform. Here's a step-by-step guide:

• Sign in to your CIBC Online Banking account.
• Select your TFSA under "My Accounts."
• Click on "Transfer Money."
• Select the account where you’d like to transfer money from.
• Enter the amount you want to deposit, then click on "Transfer."
• A confirmation page will be displayed, signifying a successful transfer.

Make sure to transfer the money within your yearly TFSA limit to avoid any over-contribution penalties.

Mobile App

For those who prefer banking on the go, the CIBC Mobile Banking® App is a reliable alternative. Here’s how to navigate through:

• Log in to the CIBC Mobile Banking App using your CIBC Online Banking credentials.
• Tap "Transfers" at the bottom of the screen.
• Choose the account you wish to transfer money from.
• Select your TFSA as the “To” account.
• Enter the amount to deposit, then tap "Next."
• Review and confirm the details of the transfer. Tap "Submit" to complete the process.

The app also lets you set up recurring contributions, making regular saving an easy habit.

Customer Service Call

If you’re more comfortable with personal assistance, calling CIBC’s customer service might be your preferred option. CIBC provides professional advisors ready to help you at every step.

• Call CIBC's Telephone Banking at 1-800-465-2422.
• Follow the automated prompts to speak with a personal banking representative.
• Request for a money transfer to your TFSA. Make sure to have your account details handy.

Remember, while usually immediate, some transactions may take 1-2 business days to complete.

Wrap-Up

In today's digitized world, banking should be simple and convenient. With these methods provided by CIBC, managing your TFSA is made straightforward. Whether you choose online banking, mobile app, or a customer service call, you’re only a few steps away from contributing to your financial future.

Remember to keep track of your contributions and annual limits. Now, go ahead and put your hard-earned money to work with a CIBC TFSA. You deserve it!

* Last section ending was rewritten for more professional tone.