For Canadians shoppers, wouldn’t it be great to have an app that rewards you with cash back for your everyday and online purchases? Well turns out, that app is Paymi!
The Paymi cash back app rewards Canadians for their everyday purchases at participating stores. This review will highlight all the details you need to know about how to sign up & earn cash back with the Paymi app.
Also, new Paymi users can earn a $5 bonus with referral code : NBMN7J. Thanks for your support 🙂
The Paymi app appeared in 2018 and is supported by CIBC.
How does Paymi work?
Basically, you need to sign up for Paymi on your smartphone (or their website) and then securely link your bank card(s) to Paymi.
Then, every time you make a purchase with your linked bank card at select merchants, you’ll earn cash back! Finally, deposit your cash to your bank account via Interac e-transfer.
Some featured retailers include Indigo.ca, Mary Brown’s, Leon’s, Indochino & Choice Hotels.
Offers vary all the time but generally Paymi will offer somewhere between 1% and 10% cash back on purchases with participating retailers.
For example, Paymi had a previous offer of 10% cash back with SkipTheDishes orders and they also had offer of 5% cash back on Indigo.ca purchases for Father’s Day.
In my case, I’ve earned more than $17 in cash back with Paymi just by shopping with partner retailers!
Free to sign up for Paymi
It’s FREE to join Paymi and their app is available on both the Apple App Store and Google Play Store.
Plus, if you want to earn a bonus $5 when signing up for the Paymi app, use referral code : NBMN7J. Thanks for your support 
Once you’ve downloaded the app, create an account with your basic personal info like email, phone & postal code.
Connect your bank cards to Paymi
Next, you’ll have to link your debit/credit cards to your account. Login to your online banking portal using the same card number or username and password you would with your regular bank.
The reason for linking your bank cards to the app is to keep track of your transactions with Paymi partners.
Most large Canadian financial institutions are shown on the connect a card screen.
Plus, CIBC clients can register & authenticate themselves on Paymi using the same card number and password used to sign on to CIBC Online® and Mobile Banking®.
Also, Paymi use top encryption tech to protect your data. Plus, it doesn’t get access to your bank account or login credentials so Paymi can’t withdraw any money from your account.
Once you make a qualifying purchase with a merchant, Paymi will automatically credit you the cash back in about 5-7 days.
How to redeem your Paymi cash back
A great feature of Paymi is that the cash back you earn will never expire as long as you have a valid account.
Plus, Paymi make it easy to redeem your cash back by sending you an Interac e-Transfer via your registered email.
Just keep in mind that the minimum payout threshold is $2 but there’s a $1.50 fee for any transfer under $25. However, there’s no fee for cash back redemptions over $25.
To start redeeming your cash back follow these steps:
- Tap the History button on the Paymi app or website to view your total balance.
- Check the “agree to $1.50 fee” box & then click the “Redeem now” button.
- Next, you’ll need to create a security question and answer for your Interac e-Transfer.
- Finally, deposit your cash back to your bank account.
Note that Paymi mentions it may take up to 5 days to receive the transfer but it’s usually much faster.
And, if you have any difficulties with your transfer, you can contact Paymi via the email at help@paymi.com. The Paymi support team is available Monday to Friday between 9 am and 6 pm EST.
Summary
Overall, Paymi is a great app that lets you earn cash back with your purchases. There are many offers with participating Canadian retailers including Indigo.ca, Mary Brown’s, SkipTheDishes & Choice Hotels.
It’s easy to sign up for Paymi and to link your debit/credit cards to the app. Plus, CIBC clients can register with their CIBC online banking username & password.
Once you’ve reached a min of $2 cash back, you can then request to cash out your money via Interac e-Transfer to your bank account. There is a $1.50 fee for any redemption under $25 so best to wait till your balance is over $25 to cash out.
Finally, if you want to earn a bonus $5 when signing up for Paymi, don’t forget to use referral code : NBMN7J.
Have you earned cash back with Paymi yet? Let me know in the comments below!
Also, check out how to earn more cash back with my Ampli by Avion Rewards app review!
Affiliate disclaimer: This review is based on my own personal experience with Paymi and is not sponsored by them. My blog contains referral or affiliate links. I receive a small commission at no additional cost to you. Thank you for your continued support.
Paymi is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, please visit the Paymi website.