CIBC

Updated November 30, 2022

Website: https://www.cibc.com/

Special Offers:

Currently CIBC is offering a CIBC Smart™ Account, where you get up to $400 and pay no monthly fee for 3 months. The cash offer is only available between April 30, 2022 and January 31, 2023 at 9PM ET. It’s also only available for Canadian residents aged 25 or over. Details to qualify for the $400 rebate:

  1. Open a Smart Account as your first CIBC chequing account and provide your email address.
  2. Get $350. Within the first 2 months, set up and maintain for one year: 
    • One ongoing direct deposit, for example: your paycheque and;
    • One of the 3 transactions:
      • Two ongoing pre-authorized debits, for example, your hydro bill
      • Two Visa debits or;
      • Two online bill payments of $50 or more each, for example: your phone bill
  3. Get an extra $50:
    • If you qualified for the $350, you can now get an additional $50 if:
      • Transfer $200 from your new CIBC Smart™ Account into your CIBC eAdvantage Savings Account within 2 months after your Smart Account is opened.

Are you under 25 years old? The offer for up to $400 for the Smart Account is only available to clients 25 and older. However, you qualify for up to $150 and no-fee everyday banking with CIBC Smart™ Start.

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.

https://www.cibc.com/en/personal-banking/ways-to-bank/atm-and-branch-network.html

Credit Score

CIBC provides your credit score, but not a full credit report, and it is only offered on the mobile app.

Budgeting Apps:

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

Services Offered:

  • 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

Bank Accounts:

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

All CIBC Smart™ Prepaid Visa* Cards and CIBC Smart™ Prepaid Travel Visa Cards will be deactivated at midnight on January 31, 2023.

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. 

Banking Contents: