The rich relationships we have with clients ignites our obsession for your success. Shouldn't more businesses have a financial partner that cares this much? CWB's referral program makes it easier for you to bring better banking solutions to more business owners, support our communities and reward your advocacy.
The Program at a Glance
Who is eligible to participate in the program?
What do the new clients receive?
How long does the referral program run?
How many referrals can I make?
Which charities are eligible to receive donations?
How is the donation amount determined?
How will I know if the business I refer does not generate the donation incentive?
When will the donation be complete, and how will I know?
What are the tax implications?
Why do I have to fill out a form?
Are CWB Wealth Management clients and assets eligible for this program?
Terms and Conditions
Terms and Conditions
TERMS AND CONDITIONS
These Terms and Conditions govern the Canadian Western Bank (CWB) Business Referral Program.
1. Definitions. When used in these Terms and Conditions, the words below have the following meanings:
a) “CWB Financial Group” means CWB and its subsidiaries.
b) “Donation” has the meaning set out in Section 6.
c) “Full Service Business Client” means a business client that has the following products and services with CWB:
i. An active business account (CWB Cash Management Account, CWB Business Savings Account or CWB Business Current Account); and
ii. A minimum of one money movement service (Customer Automated Funds Transfer, CWB Wire Service, National Direct Deposit Service, Mobile Remote Deposit, and Remote Deposit) OR any two credit (Mortgage, Business credit card, Line of Credit, Term loan, Syndicated loan, Letter of credit, lease) or investment (Guaranteed Investment Certificate, Business Savings Account , Flex Notice, Floating Rate Redeemable Term Deposit , Registered Retirement Income Fund , Registered Retirement Savings Plan, Tax Free Savings Account , Gold Leaf Savings, Peak Performance Savings, US Business Savings Account, US Floating Rate Redeemable Term Deposit and US Guaranteed Investment Certificate) products.
d) “Program” means this CWB Business Referral Program.
e) “Referral Form” means a referral made for the Program using the referral system on the CWB Referral Program page.
f) “Referee” means a business referred to CWB by a Referror that is not an existing customer of CWB on the date of the referral and becomes a Full Service Business Client within 3 months of the referral.
g) “Referror” means a Full Service Business Client that refers a Referee to CWB by completing a Referral Form.
h) “Total Business Relationship” means the sum of the dollar value of the Referee’s deposit accounts and investment accounts with CWB Financial Group and the dollar value of any outstanding credit balances on credit products with CWB Financial Group calculated on a date that is 90 days after a Referror first opens a business account with CWB (the “Calculation Date”).
2. Program Period. This Program will run for eligible referrals received between July 6, 2020 and August 31, 2020.
3. Eligibility. This Program is available to any Business Client with accounts in good standing that completes a Referral Form for one or more Referees. To participate in the Program, both the Referror and Referee must accept these Terms and Conditions.
CWB Refer and Earn Program 2
4. Consent. By submitting a Referral Form, the Referror represents and warrants that it has obtained the express consent of the subject Referee to provide its business contact information to CWB for the purpose of CWB contacting such Referee to offer its range of products and services. The Referee must consent to CWB disclosing the information contained in Section 6 of these Terms and Conditions to inform the Referror of the value of the eligible Donation. If the Referee does not consent to such disclosure, the Referror’s specified charity shall not be eligible for a Donation. If a Referee declines communication with CWB for products or services, the Referee’s name will be placed on CWB’s Do Not Solicit list.
5. Limitations on Eligibility. The following restrictions apply to the Program:
a) Employees of CWB Financial Group are not eligible to participate in the Program.
b) There is no limit on the number of Referees that a Referror may refer to CWB.
c) A Referror may only refer each Referee once.
d) If more than one Referror submits a Referral Form for the same Referee, the first one to submit an eligible Referral Form may be eligible for the Program. In the event of a dispute, the decision of CWB shall be final and binding on each Referror.
e) The Charity selected by the Referror must fall within CWB funding guidelines.
6. Referral Donation: A registered Canadian charity of the Referror’s choice shall be eligible for a Donation for each referral that meets the eligibility criteria as follows:
a) $2,000 Donation for each Referee that has a Total Business Relationship on the Calculation Date that is greater than or equal to $500,000 and less than $2 million;
b) $5,000 Donation for each Referee that has a Total Business Relationship on the Calculation Date that is greater than or equal to $2 Million and less than $10 million;
c) $10,000 Donation for each Referee that has a Total Business Relationship on the Calculation Date that is greater than or equal to $10 million.
7. Payment of Donation. If all conditions as detailed in these Terms and Conditions are met on the Calculation Date, the Donation will be paid to the Referror’s registered Canadian charity of choice within 30 days of the Calculation Date. The Referee’s accounts with CWB must be in good standing at the time of Donation payout in order for the charity to be eligible for the Donation.
8. Taxes. The Donation will be made in the name of CWB. No tax receipt or advantage will accrue to the Referror.
9. No Liability. CWB assumes no responsibility for any failure of the website or referral system or for a failure of a Referral Form to be received by CWB.
10. Amendments and Termination. This Program may be amended, extended or terminate at the sole discretion of CWB at any time without prior notice.
11. CWB Funding Guidelines. To be eligible for a Donation, an organization must be a registered Canadian charity. The following types of organizations are ineligible for a Donation and do not fall within CWB’s guidelines: Religious or sectarian organizations, organizations that discriminate against race, gender, age, religion or lifestyle, Political organizations or candidates, individuals (e.g. sponsoring an athlete, artist, or student), Service clubs, labour, or fraternal organizations, For-profit businesses or third-party fundraising organizations, Community or family foundations, trusts, or funds, Amateur or professional sports teams, Sports-related tournaments, Student unions, clubs, or department organizations, Public/private elementary or secondary schools or parent associations, Advertising or promotional initiatives, solicitation through mail campaigns, Debt reduction campaigns or retroactive requests, Travel, accommodation, or meals, Endowments (except post-secondary scholarship funds), Capital campaigns at post-secondary institutions or libraries, International development, Golf tournaments.