CIBC Increases Debit Tap Limit to $250 for Apple Pay and Other Mobile Wallets

CIBC has announced its debit tap limit for mobile wallets such as Apple Pay, Google Pay and Samsung Pay have increased to $250 for its CIBC Advantage Debit Card.

“We know many of our clients want more options for touchless transactions, and want to support local retailers in the crucial holiday shopping season,” said Laura Dottori-Attanasio, Group Head, Personal and Business Banking, CIBC, in a statement.

CIBC says clients can now also add their credit cards from the CIBC Mobile Banking App to Google Pay—without the need to enter in details manually.

“We’re expanding the digital and contactless options available to clients to offer greater peace of mind and convenience to our clients,” added Dottori-Attanasio.

CIBC says new Interac e-Transfer features have arrived as well:

• Clients can now register for Interac e-Transfer Autodeposit with their mobile number and will receive a notification when funds are deposited into their account, keeping them informed on-the-go.
• The Interac e-Transfer Request Money dollar limit has been increased to $10,000 per transaction, enabling clients to do more contactless banking, with up to 200 Request Money transactions active at one time.

“During the pandemic, we’ve seen more clients adopt digital banking, including a dramatic increase in the use of the Interac e-Transfer service as an alternative to using cheques or in-person transactions. We’ve heard clients’ requests to improve this service, and the payment enhancements announced today reflect this feedback, allowing clients to receive their money securely and conveniently,” added Ms. Dottori-Attanasio.