CIBC U.S. Dollar Current Account

For foreign currency accounts, including U.S. Dollar Current Accounts, service charges stated are in addition to any applicable exchange charges. Foreign currency deposits, including U.S. dollar deposits, are NOT insured under the Canada Deposit Insurance Corporation Act.

The CIBC U.S. Dollar Current Account is an operating account for businesses that have U.S. dollar banking transactions. It allows your business to save on foreign exchange charges, as your transactions are conducted in U.S. funds.

With the optional Cross-Border Cheque Clearing1 service, cheques issued to payees in the U.S. will be accepted and easily negotiated.

This account offers:

  • Cheques and withdrawals
  • Over-the-counter deposits at any CIBC location accepting business deposits
  • Access for Small Business clients to CIBC Instant Teller® bank machines, CIBC Telephone Banking, CIBC Online Banking®, CIBC Cash Management Online® (CMO)4 or Branch Banking for U.S. dollar balance and account activity inquiries
  • Ability to transfer between CIBC accounts in person at your branch
  • Printed account statements are available monthly2
  • eStatements are available monthly for no additional charge through online channels3
  • Detailed reporting is available through CMO

Fee summary

All of the following fees for U.S. accounts are in U.S. dollars.

  • Monthly account fee5
  • Each transaction6
    $1.00 self-service 7
    $1.25 full-service 8

Note: See Other Important Information for details on U.S. Dollar float calculations.

U.S. and other foreign currency deposits are not insured by Canada Deposit Insurance Corporation. For a complete listing of CDIC eligible CIBC Deposits see CDIC Deposit Insurance Information.

Products and their features may change at any time. Get complete information about fees here (210 KB).

1 CIBC U.S. Dollar Current Account cheques payable by CIBC through its clearing agent to U.S. payees. This service is only available to clients with a CIBC U.S. Dollar Current Account. Refer to Additional Services and Charges for more details.

2 Printed statement fee will apply.

3 eStatements are available once a month at month’s end on CIBC Online Banking or based on your preferred statement cycle on CIBC Cash Management Online (CMO). To view eStatements on CIBC Online Banking, you must be a Signatory or Co-Signatory and registered for CIBC Online Banking. To view eStatements on CMO, you must be registered for CMO, entitled to one or more business accounts and entitled to eStatements. Included with CMO monthly Maintenance fee.

4 CMO monthly Maintenance fee will apply.

5 Monthly fee applies even if there is no account activity. Other fees may apply to the operation of your account; refer to Additional Services and Charges for details.

6 Transactions include any debits and credits to your account (excluding CIBC interest credits and fee debits). Debits include, without limitation, withdrawals, cheques, pre-authorized payments, bill payments, INTERAC® Direct Payments, INTERAC e-Transfer® payments, direct deposits and transfers to other accounts. Credits include, without limitation, deposits, pre-authorized payments, bill payments, INTERAC Direct Payments, INTERAC e-Transfer payments, and direct deposits and transfers from other accounts (except transfers from CIBC business accounts). Additional charges may apply including, without limitation, INTERAC e-Transfer, "Items Deposited" and "Currency Supplied" fees where applicable. Refer to Additional Services and Charges for details.

7 Self-service refers to transactions performed through a Bank Machine, Point of Sale terminal, Wallet Depository Service, CIBC Telephone Banking Automated Service, CIBC Business Contact Centre Automated Service, CIBC Online Banking, CMO, CIBC eDeposit for cash, or CIBC eDeposit for cheques.

8 Full-service refers to transactions performed either in a CIBC Branch, through a CIBC Telephone Banking representative or through a CIBC Business Contact Centre representative.