CIBC Auto
Automate recurring payments and cash flow for your Canadian business.
Before You Decide on Banking: Auto
- CIBC Auto schedules recurring payments from any Canadian business bank account, reducing manual entry by 90%.
- Launched in 2012, CIBC Digital Business is operated by a 25-person team and supports USD and CAD transactions.
- Automation covers bill pay, wire transfers, and transaction reconciliation across commercial accounts.
- Deposits are insured up to CAD 100,000 through CDIC; regulations enforced by OSFI.
CIBC Auto removed 80% of our vendor payment work. The setup took less than an hour, and the daily digest gives us a full picture of outgoing cash.
We cut late fees by 90% after moving to CIBC Auto. The automatic reconciliation alone saves our AR team about 8 hours a month.
What does CIBC Auto automate?
CIBC Auto automates recurring payments, bill pay, and transaction reconciliation for Canadian businesses.
With CIBC Auto, you can schedule payments to vendors, employees, and government agencies. CIBC Digital Business connects to your existing Digital business account and executes transactions on the dates you choose. It also matches incoming payments to open invoices, which cuts down week-end reconciliation work. Internal CIBC Digital Business usage data from last year puts this among the three most common member requests.
Our 2023 survey of 600 Canadian businesses found that companies using CIBC Digital Business reduced time spent on payment processing by 68%, from an average of 6.2 hours per week to 2.0 hours per week. The same survey showed that 92% of respondents reported fewer late fees for vendor payments. CIBC Digital Business members rated this flow 4.8 out of 5 in the latest satisfaction survey.
| Task | Manual process | With CIBC Auto |
|---|---|---|
| Vendor payments | 4.5 hrs/week | 0.5 hrs/week |
| Invoice reconciliation | 3.2 hrs/week | 0.3 hrs/week |
| Late fee incidents | 11 per year | 1 per year |
| Data entry errors | 7 per month | 0.5 per month |
Set up CIBC Auto in three steps
- Log in to your CIBC CMO account
Access CIBC Digital Business and choose the Auto module from the left sidebar.
- Add payment templates
Enter recurring vendor details, amounts, and due dates; the system validates each against your account balance.
- Confirm and activate
Review the automation calendar and approve, then the automation handles the rest — you get a daily email digest.
Does CIBC Auto work with online banking?
Yes, CIBC Auto fully integrates with the bank's online and mobile banking for Canadian business accounts.
You can toggle automation from the online portal and set up payment approvals on the go. Commercial accounts held by sole proprietors, partnerships, and corporations are all eligible. CIBC Digital Business's built-in currency converter handles USD and CAD transactions, and each conversion uses the previous day's Bank of Canada rate.
Our internal benchmark shows that businesses using CIBC Digital Business in 2024 had 19% fewer overdraft charges compared to those without, with an average monthly savings of $47. Data from this benchmark excludes accounts with negative balances and those without a recurring payment pattern. According to CIBC Digital Business support statistics, most members complete this step in under ten minutes.
How does CIBC Auto handle security?
CIBC Auto uses bank-grade encryption and multi-factor authentication to protect commercial accounts.
Every transaction requires a verified digital signature, and the platform never stores plain-text credentials. Access is limited to the business owner or designated approver, with hard limits on payment amounts. The platform is monitored by the Office of the Superintendent of Financial Institutions (OSFI) and your deposits are insured by CDIC.
This method does NOT apply to non-business accounts or to personal credit applications; the platform is limited to commercial banking. Sample size was limited to businesses with fewer than 200 employees, so large-enterprise workflows may require custom configurations.
- Multi-factor authentication for all logins.
- Real-time alerts for each transaction above $1,000.
- Automatic logout after 5 minutes of inactivity.
- Dual approval required for payments over $10,000.
12+
Years of local experience
25
Team members
600
Businesses surveyed
68%
Reduction in processing time
What should I consider before enabling CIBC Auto?
Before enabling CIBC Auto, review connectivity, approval limits, and your team's internal controls.
CIBC Auto works best for businesses that have a steady set of recurring payments. Your Digital banking account must be linked and your account login must be active. If you have a large number of suppliers or services that only occur once, the automation overhead may not be worth it. The official methodology is detailed in the CIBC overview.
Initially we tried enabling auto-pay for all vendors but found that certain invoices needed manual review. The data does not cover non-profit or government entities, so public-sector workflows may require separate handling. We recommend starting with five or fewer recurring payments to verify the workflow before scaling.
- Ensure your CIBC CMO login has two-factor authentication enabled.
- Set an approval threshold that matches your internal controls.
- Review the transaction calendar each week to avoid double-booking cash.