Updated February 15, 2020
Table of Contents
Currently CIBC is offering everyday banking to newcomers, you get $300 with a CIBC Smart Account when you open your first CIBC chequing account, plus pay no monthly fee for one year.
Within the first 2 months, set up and maintain 2 of the following, then you will get $300 within 7 months after opening your account:
- 1 recurring direct deposit
- 2 recurring pre-authorized debits
- 2 online bill payment of $50 or more each
Rewards program through Journie:
You can get this reward card at any Pioneer, Chevron or Ultramar gas stations. If you link your Journie rewards with CIBC debit/credit cards, and pay with debit/credit at these participating gas station, you will receive 3 cents off gas prices and once you fill up to 300 litres you will get an additional 7 cents off that one time purchase.
How to open a bank account: in person, online or mobile banking app
- In Person: book a meeting at the closest branch and bring in 2 pieces of valid ID.
- Online: by filling out the application by providing your personal information, social insurance number and address as well as provide 2 pieces of valid ID once the application has been approved when you pick up your debit card.
- Mobile app: download the CIBC Mobile Banking app and select “Open an Account.”
Here is a link to their Branch Locator to find the closest physical branch.
CIBC provides your credit score, but not a full credit report, and it is only offered on the mobile app.
The one on the mobile app is called Insights:
- it gives you tailored advice based on your spending habits
- you can set up spending limits for each bill or category you set up
- it tells you if your bill or subscription is higher than normal
- you get reminders when you have extra money to put away
The one online is under CIBC Financial HealthCheck Goal:
- to set goals for savings, pay down debt or to manage money better
- you can put in your monthly expenses and it will create a budget for you
- Savings & Business Accounts
- Pay bills online or through your mobile banking app
- Interac e-Transfer online and through mobile banking app
- Mobile banking app: https://www.cibc.com/en/personal-banking/ways-to-bank/mobile-services.html
- Deposit cheques through mobile banking app
- Free credit score through mobile banking app NOTE: Free credit score is only available through the mobile banking app, not through their website; full credit reports are not available
- Track your bills, set spending limits and more
- Financial HealthCheck
- Send money globally
- Shop and pay you way with Google pay, Apple pay and Samsung pay
- Investments Products (RRSP, TFSA, mortgages, GICs)
- Overdraft protection available
- Cheques available for a fee
CIBC has multiple accounts with different fees depending on the account and your needs, below is simplified comparison chart for chequing accounts. For further information, please visit: Chequing and Savings | Bank Accounts | CIBC
How to get a PAP Form
Sign on to CIBC Online Banking, under banking, view account details on left-hand column, choose which account you would like to get the form from, go under manage my account on right-hand side, the 3rd option down is the void cheque/direct deposit info.