Personal Bank Account Fee Summary
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Personal Account Service Fees (300 KB)
| Banking Feature | CIBC Unlimited® Chequing Account | CIBC Everyday® Chequing Account | CIBC Premium Growth Account | CIBC Premier Service® Account | CIBC US$ Personal Account | CIBC Bonus Savings Account |
|
Transactions - Cheques - Withdrawals - Bill payments - Pre-authorized payments or INTERAC®1 Direct Payment purchases |
- Unlimited transactions for $12.95 per month - CIBC Express Switch Service® makes it easy to switch your banking to CIBC - Free standard personalized cheques |
- Up to 10 transactions for $3.90 per month and $0.65 for each additional transaction over 10 - Your $3.90 monthly fee is waived if you maintain a minimum monthly balance of $1,000 - Personalized cheques available |
$1.25 per transaction | $24.50 per month for unlimited transactions | $0.75 U.S. for in-branch withdrawals, pre-authorized payments, cheques1 or withdrawals at CIBC U.S.$ bank machines |
- One free transaction per month2 - $5.00 for each additional transaction |
| Transfers3 to other CIBC personal bank accounts | Free | Free | Free | Free | Free for transfers between CIBC U.S.$ personal accounts | $5.00 per transfer (unless this is your free monthly transaction4) |
|
Interac Email Money Transfer (EMT): - Sending an EMT - Receiving an EMT6 |
$1.505 Free |
$1.505 Free |
$1.505 Free |
$1.505 Free |
Not Available Not Available |
$1.505 Free |
|
Additional fees for withdrawals at non-CIBC bank machines: In Canada (INTERAC network) Within the U.S. (Plus™ and other Visa™ networks) Outside Canada and the U.S. (Plus+ and Visa networks) In addition, if you withdraw foreign currency from a bank machine located outside of Canada, you are charged the same conversion rate CIBC is required to pay, plus an administration fee of 2.5% of the converted amount (in addition to any transaction fee applicable to the withdrawal and the fee noted above). Some bank machines may levy additional charges. |
$1.50 each5 $3.00 each5 $5.00 each5 |
$1.50 each5 $3.00 each5 $5.00 each5 |
$1.50 each5 $3.00 each5 $5.00 each5 |
4 Free non-CIBC Interac bank machine withdrawals per month6
$1.50 each5 $3.00 each5 $5.00 each5 |
NA |
$1.50 each5 $3.00 each5 $5.00 each5 |
|
Account inquiries - CIBC bank machines, Telephone Banking and Online Banking |
Free | Free | Free | Free | Free | Free |
1 Cheques can be written on CIBC US$ Personal Accounts. However, if the payee of the cheque negotiates the cheque at a financial institution outside Canada, that institution may not accept the cheque or may deduct a large fee from the cheque's face value. Fee shown is for cheques written in U.S. currency only. Any fees not listed above which are applicable to this account will be charged in U.S. funds. If Canadian dollars are deposited into this account, the exchange rate used will be the rate prevailing at the time the transaction is processed.
2 Cannot be carried forward for use in subsequent months.
3 If a cheque is used to make the transfer, a transaction fee is also applicable. A per-transaction surcharge of $10.00 applies to branch-assisted transfers. Transfers requested by telephone and by mail are subject to branch discretion. If mail confirmation of the transfer is required, an additional surcharge of $2.00 Cdn plus postage is applicable. Additional costs apply if a money order, draft or wire transfer is required to execute the transfer. Transfers from $US Personal Accounts to Canadian dollar accounts and vice-versa will be treated as transactions.
4 A transfer from the CIBC Bonus Savings Account is treated as a transaction and is subject to the applicable fee (unless it is your one free monthly transaction on your CIBC Bonus Savings Account).
5 In addition to transaction withdrawal fee, if applicable. Some bank machines may levy additional surcharges.
6 CIBC levies no fee to receive an Email Money Transfer into a CIBC Canadian dollar personal account. However, if the account is not at CIBC, Certapay, a division of Acxsys Corporation, and/or the Financial Institution at which the Recipient's account is located may levy a fee upon the Recipient.
"CIBC. For what matters". is a trademark of CIBC
® Registered Trade-Mark of CIBC
®1 Registered Trade-Mark of Interac Inc.; CIBC auth user
Record keeping fees
CIBC offers several record keeping options. On most accounts, you can choose from the following:
- Monthly or quarterly basic statements
- A bankbook
- Paperless option
- Monthly statement with cheques imaged3
CIBC also offers statements in braille and large print -- at no additional cost -- to customers with a visual impairment. For more information about these options, please call 1-800-465-2422 or visit a CIBC branch.
| Record Keeping Option | CIBC Unlimited Chequing Account | CIBC Everyday® Chequing Account | CIBC Premium Growth Account | CIBC Premier Service Account | CIBC US$ Personal Account | CIBC Bonus Savings Account | CIBC Advantage® for Youth | CIBC Advantage® for Students2 | CIBC 60 Plus Advantage®2 |
| Basic record keeping1 | Included | Included | Included | Included | Included | Included | Included | Free on CIBC Everyday® Chequing Account | Free on CIBC Everyday® Chequing Account |
| Statement with front of cheques imaged | Free | $2.502 per month | $2.50 per month | NA | $2.50 per month | NA | $2.50 per month | ||
| Statement with cheques returned3 | Free | $3.50 per month | $3.50 per month | NA | $3.50 per month | NA | $3.50 per month | ||
| Braille/large print statements | Free upon request | Free upon request | Free upon request | Free upon request | Free upon request | Free upon request | Free upon request | ||
| Interim Statement | $4.50 each | $4.50 each | $4.50 each | $4.50 each | $5.00 U.S. each | $4.50 each | $4.50 each | $4.50 each | $4.50 each |
1 Basic record keeping defined as bankbook, monthly statement, quarterly statement or paperless record keeping.
2 Conditions apply to obtain these benefits. Ask for details.
3 Only the front of cheques will be imaged.
4 Monthly statement with cheques returned option is not available except for those accounts which had this option prior to March 12, 2008 and continuously thereafter.
Personal banking services and fees
The following are fees and services that may not be included in the monthly account or transaction fees. All of these fees apply to personal accounts and, unless otherwise indicated, are applied in Canadian dollars except for U.S. dollar accounts where fees are charged in U.S. dollars:
| Service | Fee per item |
Bank drafts and money orders
|
$7.50* $7.50* CDN $7.50* CDN |
Request for replacement of bank draft or money order
Note: Some conditions apply. Please ask a CIBC advisor for details. |
No fee $25.00 |
|
Certified cheques When requested by a payor (cheque issuer) - Canadian or U.S. currency When requested by a payee (cheque recipient) - Canadian or U.S. currency |
$10.00 CDN or $10.00 U.S.* $15.00 CDN or $15.00 U.S. |
|
Counter cheques When you write a cheque that is not MICR-encoded for your account Canadian currency U.S. currency |
$5.00* 0.05% of face value ($5.00 U.S. min - $100.00 US max)* |
|
Online cheque viewing View images of items online |
$1.50 per item viewed (free for accounts with paperless record keeping option) |
| Personalized cheques |
Fees vary depending on style and quantity* |
| Dishonoured (NSF) cheque or pre-authorized payment |
$42.50 each* |
|
Retrieval of cheque or other item
Note: Certified cheques and debit memos are not returned. |
$5.00 per item |
| Copy of statement |
$5.00 per statement |
Stop payments
|
$12.50 per request $20.00 per request $3.50 CDN |
Transfer of funds prepared by CIBC
|
$10.00*1 $2.00 plus postage per transfer* |
|
Wire payments Outgoing wire payments
Incoming wire payments
|
$15.00 per payment $15.00 CDN per payment |
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Fees for cheques held for deposit A post-dated cheque held for credit at your request to be deposited to your account at a future date |
$3.00 per cheque |
|
Inter-branch payments (between CIBC branches in Canada) Outgoing wire payments
|
|
Account closing at your request
|
$12.50 per account (free if funds are transferred to another CIBC product) |
Account transfer to other financial institution
|
$19.50 per account $100.00 per transfer $100.00 per transfer |
Search for accounts
|
$6.50 per name per branch (minimum $22.00 plus applicable taxes) $16.50 per account |
Travellers Cheques purchasing commission
|
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Cashing Travellers Cheques
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|
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Gift cheques
American Express gift cheques (subject to availability) |
3%* |
| Collection Items Outgoing CDN dollar item within Canada
Outgoing CDN dollar item outside of Canada Outgoing U.S. and foreign currency item inside or outside of Canada Note: Incoming collections from other financial institutions will be subject to a charge by CIBC which may be passed on by the financial institution to their customer. Note: Other financial institutions may levy additional charges on outgoing items. Additional out of pocket expenses may apply. |
$15 each 3/20 of 1% of the item amount (minimum of $25.00 each) 1/5 of 1% of the item amount (minimum of $30.00 each and maximum of $150.00 each) 1/5 of 1% of the item amount (minimum of $30.00 each and maximum of $150.00 each) |
| Cheques written in currencies other than the account currency | $20.00* per cheque |
* In addition to transaction fee (if applicable).
1 Additional costs apply if a money order, draft or wire transfer is required to execute the transfer.
2 Correspondent bank may levy additional charges.
Personal banking services and fees
The following fees are applied in Canadian dollars except where otherwise noted.
Safety deposit box services*
Safety deposit boxes are available in a variety of sizes and prices; some common examples with approximate dimensions are shown in the chart below. Rent is paid in advance.
Annual rental fee for safety deposit box†
| Box Size | Price/Year plus applicable taxes |
| 1 1/2" x 5" x 24" | $45.00 |
| 2 1/2" x 5" x 24" | $60.00 |
| 3 1/4" x 5" x 24" | $65.00 |
| 2 1/2" x 10 3/8" x 24" 5" x 5" x 24" |
$100.00 |
| 5" x 10 3/8" x 24" | $200.00 |
| 10" x 10 3/8" x 24" | $300.00 |
Safety deposit box closing
If your box is closed within one year after it is opened, CIBC will refund the rent based on the months remaining up to a maximum of 6 months. If your box is closed after the first full year, CIBC will refund your rent pro-rated on the remaining months in the term.
Replacement services
| Replacement of lost keys† | $15.00 per key |
| Drilling of box and replacement of lost keys† | $100.00 |
† Plus applicable taxes
Dormant (inactive) accounts
An interest-bearing account is considered dormant if you have not initiated any transactions for a 12-month period. A non-interest bearing account, including the CIBC Everyday Chequing Account and the CIBC Unlimited Chequing Account, is considered dormant if you have not initiated any transactions for a 6-month period. Dormant accounts that receive a monthly statement will automatically be switched to quarterly statements.
To activate a dormant (inactive) account, see Frequently Asked Questions
| Status | Fee* |
| Dormant for 2, 3 or 4 years | $20.00 |
| Dormant for 5, 6, 7, or 8 years | $30.00 |
| Dormant for 9 years | $40.00 |
*Or the account balance, whichever is less.
Note: Fees for U.S. dollar accounts are charged in U.S. dollars.
After 10 years, if your account remains dormant, your balance is transferred to the Bank of Canada.
To activate a dormant account, you can:
- Make a deposit, withdrawal, transfer or bill payment at any CIBC branch or CIBC bank machine; or
- Make a withdrawal at any other bank machine displaying the Interac or Plus logo; or
- Make a purchase using Interac Direct Payment.
Services to non-CIBC bank account customers
In-branch bill payments - $3.00 per bill
If a branch chooses to negotiate a CIBC cheque from a non-CIBC bank account customer - $5.00 each
Note: Fees do not apply to payment of Government of Canada remittances or cashing of Government of Canada cheques.
Account conversion
If you change your account type prior to the end of the final business day of the month to an account with a different fee structure, all transactions during that month (including those made before the change) will be subject to the fees under the fee structure that applies to your new account type at the end of the month. However, any fees which have already been paid or deducted from your account during the month (e.g., for money orders) will not be refunded upon conversion.
Notice of Fee Changes
If a fee applicable to your account is increased or a new account fee is introduced and you receive regular statements, we will mail you a notice of the change at least 30 days before it is effective. For customers not receiving a regular statement, a notice will be posted in all branches and at all CIBC bank machines (excluding Instant Update® machines) 60 days before the change is effective. For customers with paperless record keeping option, CIBC may, at its option, provide you with notice in writing (which may be provided by electronic means, including posting a notice on Online Banking) at least 30 days before the change is effective, or by posting a notice at CIBC branches 60 days before the change is effective.
General Terms & Conditions
Your Personal Account Agreement contains important terms and conditions governing your account. Please be sure to read it.
Personal accounts are for personal use only. Businesses (including sole proprietorships) must obtain a CIBC business account.
In most cases, transactions done at a branch or bank machine after 6:00 p.m. local time will have a transaction date of the next business day. Transactions done at a branch or bank machine after 9:30 p.m. local time will be processed the next business day. Transactions done through Telephone or Online Banking after 6:00 p.m. (Eastern Standard Time) will have a transaction date of the next business day. Transactions done through Telephone or Online Banking done after 9:30 p.m. (Eastern Standard Time) will be processed the next business day. Please note that Saturday, Sunday and holidays are not business days.
Service charges are calculated for the calendar month up to and including the final business day of the month. Such service charges are dated the final calendar day of the month but are not posted until the first business day in the following month.
Interest is credited to your account as of the last business day in the interest period. However, the interest cannot be withdrawn, and will not be printed at branch terminals or at CIBC bank machines, nor made available through CIBC Telephone Banking or CIBC Online Banking until two business days after the end of the interest period. Interest rates quoted are annual and are subject to change without prior notice and are displayed on in-branch interest rate sheets.
If your account pays interest based on the minimum monthly or minimum semi-annual balance: a deposit made on the first business day of the period is credited as if it were actually made on the first calendar day (if earlier).
Seven days prior notice may be required for withdrawals by cheque or otherwise.
U.S. currency coins deposited into any CIBC account (Canadian or U.S. dollar) will be treated as if they were Canadian currency coin.
Digital or electronic representations of cheques and other instruments, or the relevant information from the cheque or instrument, may be made or captured and used by financial institutions involved in the exchange and clearing of payments in Canada and elsewhere, in which case the original paper item may be destroyed and not returned to you. CIBC is entitled to act upon such a representation or information for all purposes as if it were the original paper item. CIBC and other financial institutions may reject any cheque or other instrument that does not comply in all respects with all applicable by-laws, regulations, rules and standards of CIBC and the Canadian Payments Association.
Copyright® 2009 Canadian Imperial Bank of Commerce. All rights reserved.
