New electronic payment services available to individuals
Since January 24, 2008, CIBC has been offering individuals three types of electronic payment services:
- remittances of personal income tax
- personal income tax instalments
- remittances of support payments
Because individuals are requesting an easy, quick and secure way of dealing with their financial institution, CIBC has joined the list of organizations that offer electronic payment services:
- Bank of Montreal
- National Bank of Canada
- Royal Bank of Canada
- Scotia Bank
- Desjardins Group
- TelPay Inc.
Since November 2007, the National Bank of Canada and TelPay Inc. have been offering individuals the possibility of paying notices of assessment and notices of recovery electronically.
In 2007, 202,200 transactions were made on the websites of financial institutions.