Paymi is a very good app. You can earn money back on your everyday purchases. It is similar to Drop program (Drop Program Introduction). Members can link their credit/debit cards to the app to start earning Cash Back from their favourite 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 (also similar to Drop):
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 < $25.
If you have doubts on Paymi (which is normal), you should know that CIBC work closely with Paymi. You can find CIBC-Paymi partnership on their website with FAQs: https://www.cibc.com/en/special-offers/paymi.html
And you can get double the cash back on all Paymi offers until Jun 1, 2019 (so it is 2% for most of the brands). All you need to do is link your CIBC debit card/credit cards in Paymi App. Note: You can use Paymi with most CIBC chequing accounts, savings accounts, credit cards and prepaid reloadable gift cards. But, a few bank accounts and credit cards are excluded:
- CIBC Bank USA Smart Account™
- CIBC US$ Personal Account
- CIBC U.S. Dollar Aventura® Gold Visa* Card
- CIBC Aventura® Visa* Card for Business
- CIBC Aerogold® Visa* Card for Business
- CIBC bizline® Visa* Card
- CIBC Aventura® Visa* Card for Business Plus
- CIBC Aerogold® Visa* Card for Business Plus
- CIBC Corporate Classic Plus Visa* Card
- CIBC Smart™ Prepaid Travel Visa* Card
- Prepaid non-reloadable gift cards
- All secondary credit cards
If you want to open a new Paymi account, please use our referral link below, so we can get bonus from Paymi. Thanks: https://app.paymi.com/referral/4Y72-P3KR-8ETB (or you can fill in our referral code directly during registration: 4Y72-P3KR-8ETB), 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.
For now, I do have one question: if I link one card in Paymi and Drop at the same time, and use it in one store (for example: GAP or Old Navy etc) which is partner of both Paymi and Drop, could I get Paymi cash back and Drop rewards? --> Confirmed by data points: you can get cash back from both Paymi and Drop in this situation.
Updated on Dec 10, 2018: The Paymi Lowe's offer is really amazing. Its current cash back ratio is 15%. If you shop with a connected CIBC card, you can get 2X cash back, which is 30%. One of my friends bought $2200 appliances from Lowe's with his CIBC credit card (connected in Paymi), and he did receive the 30% cash back ($660). In addition to Lowe's 30%, CIBC cardholders may also receive cash back on Lean's (10%), Mark's (10%), SportChek (10%) etc... Please log in your Paymi to see the offers (YMMV).
BTW, If anyone wants to leave his/her Paymi referral code below, please use the following format ONLY: "My Paymi referral code is: XXXX-XXXX-XXXX. Thanks." Other codes will be deleted. And we do NOT accept Paymi referral links here. Thanks.