Sunday, August 22, 2021

Paymi: Get Paid When You Shop

Paymi is a very good app. You can earn money back on your everyday purchases. Members can link their credit/debit cards to the app to start earning Cash Back from their favorite brands. And you can still earn the normal rewards/cash back from your credit card in addition to the Paymi cash back.

Currently, Paymi can provide additional cash back (~1%) on following brands + Walmart/Winners/Swiss Chalet/Netflix/Starbucks/Old Navy/Sephora and more):

The workflow is easy:

The thing I like is that you can deposit your cash back (once your balance is >$2) whenever you want with Interac e-transfer (much better than Drop)! It will take 2-3 business days for processing, and you need to pay $1.5 fee if the redemptions < $25.

If you have doubts on Paymi (which is normal), you should know that CIBC work closely with Paymi. You can find CIBC-Paymi partnership on their website with FAQs:

If you want to open a new Paymi account, please use our referral link below, so we can both get $5 bonus from Paymi. Thanks: (or you can fill in our referral code directly during registration: TU44VQ), then fill in your email and password for registration. You can choose the normal registration button or the CIBC button if you are a CIBC client. When you register with CIBC button, then CIBC will forward your information to Paymi (but you will not be able to earn the referral bonus).

For people that don't have CIBC cards, you can register and link other financial institution cards. Just FYI, you can link multiple cards and select the best one to use in the stores. For example, I linked my AmEx Cobalt card in Paymi and plan to use it in those restaurants/grocery stores. Although the Paymi bonus is only 1% with AmEx Cobalt, but the AmEx Cobalt 5X return ratio is much better than any CIBC credit cards. Note: just FYI, a friend told me that he linked a CIBC card first and he cannot link another AmEx card. But when he deleted that CIBC card, he can add his AmEx card.

Updated on Jan 9, 2019: One of my friends bought $7000 gift cards at Lowe's on Jan 7, 2019 with a connected CIBC credit card. And he got $2100 cash back today in Paymi. I think this is a good method, because the Lowe's gift card does not have a expire date. Note: this Lowe's 30% offer is only for one-time use.

Updated on Dec 19, 2019: In addition to the Paymi Anywhere offers before, Paymi is adding some new brands (online only) in the app, including Walmart, Kobo, Lego, Macy's, UGG, Dyson, Hudson's Bay, Aldo etc. When you click "Shop Now" for "Earn Online" offers, you will be re-directed to those online stores for purchase and earn cash back.

BTW, If anyone wants to leave his/her Paymi referral code below, please use the following format ONLY: "My Paymi referral code is: XXXX. Thanks." Other codes will be deleted. And we do NOT accept Paymi referral links here. Thanks.