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CIBC $10M NSF Fee Settlement: Automatic Payments (Canada)
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Who Is Eligible?
You may be eligible to file a claim if you:
- You are or were a CIBC personal banking customer in Canada
- You are or were a Simplii Financial customer in Canada
- You were charged more than one NSF fee on the same payment that was returned and re-presented to your account
- The multiple NSF fees occurred during the relevant class period (exact dates to be confirmed upon court approval)
- You do not need to opt in — eligible customers will be identified and paid automatically by CIBC
How Much Can You Get?
The total settlement fund is CAD $10 million, which will be distributed among all eligible CIBC and Simplii Financial customers who were charged multiple NSF fees on re-presented payments. Individual payout amounts have not been publicly specified and will depend on factors like how many eligible customers are identified and how many NSF fees each person was charged. Because payments are made automatically, CIBC will calculate each eligible customer's share based on their account records. No maximum individual payout has been announced, so your amount will vary. Keep an eye on your CIBC or Simplii account after the October 2026 court approval date for any deposits or account credits.How to File Your Claim
Filing your claim is quick and easy:
- Confirm you are or were a CIBC or Simplii Financial customer who received multiple NSF fees on a re-presented payment
- No claim form is required — this settlement features automatic payments to eligible customers
- Wait for the court approval hearing, currently scheduled for October 19, 2026
- After approval, CIBC will identify eligible customers using their own account records and distribute payments automatically
- Monitor your CIBC or Simplii account for any credits or deposits following court approval
- Download Class Action Buddy to stay on top of this settlement's status, get notified when payments are issued, and discover other settlements you may qualify for
💡 Easier way: File with Class Action Buddy
Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.
Download for iPhone Download for AndroidFrequently Asked Questions
Do I need proof of purchase for the CIBC $10M NSF Fee Settlement: Automatic Payments (Canada)?
No proof of purchase is required — you can typically file based on a sworn statement, without receipts, photos, or product packaging. Note: some class action settlements still require a Claimant ID or PIN from a notice mailed to affected class members; if this settlement does, it will be shown on the official claim form.
How do I file a claim for the CIBC $10M NSF Fee Settlement: Automatic Payments (Canada)?
You have two options: (1) Use the free Class Action Buddy mobile app — set up your profile once and the app auto-fills the PDF claim form, captures your signature, and submits the claim by mail on your behalf. (2) File directly with the settlement administrator using the official claim form linked on this page.
Do I need to file a claim for the CIBC NSF fee settlement?
No — this is an automatic payment settlement. CIBC will use its own account records to identify eligible customers and distribute payments without requiring anyone to submit a claim form. Just make sure your contact and banking information with CIBC or Simplii is up to date.
What is the CIBC NSF fee class action about?
The class action alleged that CIBC charged customers multiple non-sufficient funds (NSF) fees on the same payment when it was returned and then re-presented to the account. Critics argued this was an unfair fee practice since customers were being penalized more than once for a single failed transaction. CIBC agreed to a CAD $10 million settlement to resolve the lawsuit.
When will CIBC NSF settlement payments be sent out?
The settlement is pending court approval, with a hearing scheduled for October 19, 2026. Payments are expected to be distributed to eligible customers after the court officially approves the settlement. The exact timeline for payment distribution has not yet been announced.
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