CIBC offers you various facilities by way of packages if you have more than one account. For instance, the CIBC Homeowner Banking Bundle allows you discounted chequing accounts if you also use their secured line of credit or have a mortgage. Further, you can get the CIBC package that includes overdraft protection, CIBC PremierService chequing account, preferred savings account option, and no annual fee credit card.
Should you opt for the CIBC chequing accounts services, you’ll have to pay a monthly fee that varies according to the facilities that each account provides. The bank offers special services for senior citizens over the age of 60, students, or new residents in Canada. Choose from personal banking solutions such as eDeposit for depositing cheques over your mobile phone and the CIBC's Mobile Banking App. Using the CIBC debit card for Apple Pay is another facility.
Best CIBC Chequing Accounts in Canada
CIBC PremierService Account
You'll pay the highest monthly fee with this account, but it also offers you a range of attractive services:
No limit transactions
Availability of specific CIBC credit cards with no annual fee
No limit withdrawals from external ATMs
Facility of shopping on the internet using the CIBC Advantage Debit Card
Ability to receive no limit Interac e-Transfers and send two Interac e-Transfers each month at no charge
CIBC Smart Account
Here are the facilities you can expect with the CIBC Smart Account:
No limit Interac e-Transfers
Varying monthly fee according to number of purchases on debit cards
12 transactions allowed for a minimum monthly fee of $4.95. Each subsequent transaction incurs a charge of $1.25 until you reach a maximum of $14.25 per month.
External ATM withdrawals are chargeable
Possibility of having the monthly fee waived subject to conditions like maintaining a minimum daily balance of $3,000 and setting up a recurring direct deposit or 2 automatic deposits per month.
CIBC Everyday Chequing Account
The CIBC Everyday Chequing Account is ideal for users with limited banking requirements. Here are some other features:
12 transactions and the possibility of shopping over the internet using the CIBC Advantage Debit Card for a monthly fee of $3.90.
Fee payable on each Interac e-transfer sent
No fee with the maintenance of a minimum balance each day
CIBC US$ Personal Account
The CIBC US$ Personal Account allows you to make transactions in US currency without conversions. Other features include:
No monthly fees payable
Possibility to earn interest by way of a tiered interest rate system
Fixed transaction fee payable for debit purchases, bill payments, pre-authorized payments, transfers, cheques, and withdrawals.
No facility for sending or receiving Interac e-Transfers