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- CIBC Basic Business Operating Account - Fees and Details
CIBC Basic Business Operating Account®
fees and details
Find out how much you'll pay, with no hidden surprises.
Choose fees and details for more information:
Download full documentation:
Business account service fees (PDF, 795 KB) Opens in a new window.
eStatements5 delivered through:
CIBC Online Banking®
No charge
CIBC SmartBanking™ for Business
No charge
CIBC Cash Management Online® (CMO)
Included with CMO monthly maintenance fee
Paper statements:
Printed statements6
$3.50 each
Monthly statement reprint
$5.00 each plus printed statement fee
Interim statement
$4.50 each plus printed statement fee
Balance enquiries:
For each request at a CIBC Banking Centre, by phone7 or by mail
$2.75
By CIBC ATM, CIBC Telephone or Online Banking
No charge
Bill payments:
Bill payments at a CIBC Banking Centre
No charge
Plus transaction fee, if applicable. CIBC Convenience Card® required.
Items deposited:
Each cheque deposited
$0.22
Cash deposited — bills (per $1,000)
$2.25 when deposited through a CIBC ATM
$2.50 when deposited any other way
Coin deposited (per $100)
$2.50
Plus transaction fee, if applicable. Items deposited via regular Wallet Depository Service as well as ABM-Wallet Combo Depository Service are charged at full-service rates.
Deposit error adjustments:
Each deposit made with inaccurate or incomplete information through a CIBC ATM, Wallet Depository Service or Armoured Car Direct Pickup
$5.00
Transfers between your accounts:
Fee for transfers between your accounts, in addition to any applicable withdrawal and, or, deposit charges that may apply
$0 self-service3
$5.00 full-service4
Withdrawals at non-CIBC ATMs8:
In Canada:
$2.00 each plus transaction fee, if applicable
Some ATMs may levy surcharges
In the U.S.:
$3.00 each plus transaction fee, if applicable, and a 2.5% administration fee
Some ATMs may levy surcharges
Outside Canada and the U.S. (Plus or Visa Network):
$5.00 each plus a 2.5% administration fee
You're charged the same foreign exchange conversion rate CIBC is required to pay, plus an administration fee of 2.5% of the converted amount in addition to any transaction fees applicable to the withdrawal and the fees noted above.
Conversion to Canadian dollars may occur on a date other than the date of your transaction. Therefore, the conversion rate may be different from the rate in effect at the time of your transaction. Some ATMs may levy surcharges.
Non-CIBC client withdrawals at CIBC ATMs
In Canada:
$3.50 each
Cheque certifications:
When requested by a payor (cheque issuer)
$15
When requested by a payee (cheque recipient)
$20
Cheques for business accounts:
Cheques vary in price depending on style and quantity. Talk to a CIBC business advisor for more information.
Cheques written in currencies other than the account currency:
When a cheque is written in any currency different from that of the account
$20 plus transaction fee, if applicable
For cheques written on U.S. accounts, the fee will be $20 US.
For cheques written on foreign currency accounts (other than U.S. accounts), the fee will be converted to and charged in the same currency as the account using an exchange rate set by CIBC on a date determined by CIBC.
Cross-border cheque clearing9:
Monthly service fee
$39 per month, per account
Non-magnetic ink character recognition (MICR) encoded cheques:
Service charge when you don't use a cheque that's been MICR encoded for your Canadian dollar account
$5.00 plus transaction fee, if applicable
Service charge when you use a cheque that's not MICR encoded for your U.S. dollar account
0.05% of the cheque amount plus transaction fee, if applicable
(minimum charge $5.00 US, maximum $100 US)
Non-sufficient funds (NSF) cheques and pre-authorized debits:
A cheque you draw or a pre-authorized debit that's returned unpaid due to non-sufficient funds in your account
$45 plus transaction fee, if applicable
Online cheque viewing:
View images of items online via CIBC Online Banking, CIBC SmartBanking for Business, or CIBC Cash Management Online (CMO) Image Retrieval
No charge
CMO monthly maintenance fee applies
Interac e-Transfer® service:
Available through CIBC Online Banking. You'll need the recipient’s email address to complete the transaction. Only a primary signing authority of a CIBC business account can send money via e-Transfer. e-Transfer isn't available to clients who were issued Convenience Cards prior to 2003.
Sending money via e-Transfer:
$1.50 each plus transaction fee, if applicable
For e-Transfers that exceed any quantities included in your account package
Receiving money via e-Transfer:
No charge plus transaction fee, if applicable
Retrieval and copy of cancelled cheques or other items:
$5.00 per item
Copies of certified cheques aren't provided
Returned cheques or chargebacks:
A cheque you deposit that's returned unpaid
$7.00 each
Stop payments:
Cheques and pre-authorized payments:
Full details provided
$12.50 per request
Full details not provided
$20 per request
Interac e-Transfer:
$3.50 per request
Bank confirmations and audit verifications:
Verification of balance only
$25
Providing additional information involving extra work
$40 per staff, per hour (minimum $40)
Credit reports:
Enquiry within Canada:
Verbal
$20 per report
Rushed verbal (same day)
$25 per report
Written
$25 per report
Verbal and written
$30 per report
Additional out-of-pocket expenses may apply
Enquiry outside of Canada:
Verbal or written
$30 per report
Additional out-of-pocket expenses may apply
Credit report fees apply to: a request for a credit report on your account, whether made by you or by another party with your consent; and your request that CIBC obtain a report on another party’s account at CIBC or another institution.
Currency supplied:
Cash orders supplied — per $1,000 of currency
$1.50
Coin orders supplied — per roll of coin
$0.16
Government payment and filing services:
$2.00 per payment, per filing
Item enquiries:
For each item request or transaction listing:
At a CIBC Banking Centre, by telephone7 or mail
$5.00
By CIBC ATM, Telephone or Online Banking
No charge
Transfers between financial institutions:
To transfer the account to another financial institution (via Balance of Account Transfer form)
$19.50
Wallet depository services:
Designed for business customers who deposit large amounts of cash, coin or cheques and, or, have business needs, which may include banking outside regular banking hours
$2.50 per month, per account
Bank drafts and money orders:
Canadian currency
$9.95 per item plus transaction fee, if applicable
U.S. currency
$9.95 CA per item plus transaction fee, if applicable
Foreign currency
$9.95 CA per item plus transaction fee, if applicable
Collection items:
Incoming collections:
CIBC will charge a fee to other financial institutions requesting collection of items drawn on CIBC accounts and will deduct the fee from the amount paid to the other financial institution.
Dormant or inactive account fees10:
Business accounts become dormant, or inactive, when there's been no customer-initiated activity for 6 months except for the CIBC Business Investment Growth Account, which becomes dormant after 12 months* of no client-initiated activity, and the CIBC AgriInvest Account, which becomes dormant after 18 months of no client-initiated activity. Exception also applies to the CIBC Business Interest Account®.
For maintaining a dormant or inactive account for 2, 3 or 4 years
Lesser of $20 or account balance
For maintaining a dormant or inactive account for 5, 6, 7 or 8 years
Lesser of $30 or account balance
For maintaining a dormant or inactive account for 9 years
Lesser of $40 or account balance
After 10 years, if your account remains dormant, your Canadian account balances are transferred to the Bank of Canada.
Request for replacement of bank drafts or money orders:
Drawn in Canadian currency
No charge
Drawn in U.S. currency or other foreign currency
$25
Some conditions apply, talk to a CIBC business advisor for more information.
Safety deposit boxes:
Sizes and prices:
1 1/2” x 5” x 24”
$60 per year
2 1/2” x 5” x 24”
$85 per year
3 1/4” x 5” x 24”
$90 per year
5” x 5” x 24”
$150 per year
2 1/2” x 10 3/8” x 24”
$175 per year
5” x 10 3/8” x 24”
$350 per year
10” x 10 3/8” x 24”
$400 per year
Plus applicable taxes
Rent is paid in advance. Other sizes and prices available. For more information, talk to a CIBC business advisor.
Closing safety deposit boxes:
If your box is closed within one year of opening, we'll refund your rent based on the months remaining, up to a maximum of 6 months.
If your box is closed after the first full year, we'll refund your rent pro-rated on the remaining months in the term.
Replacement services:
Replacement of lost keys
$15 CA per key plus applicable taxes
Drilling of box and replacement of lost keys
$100 CA per key plus applicable taxes
Search for accounts:
Search for accounts of deceased or incapacitated persons
$6.50 per name, per CIBC Banking Centre (Minimum $22.00; plus applicable taxes)
For letters confirming account balance, interest, etc.
$16.50 per account plus applicable taxes
Wire payments and inter-branch payments:
Outgoing wire payments initiated at a CIBC Banking Centre11:
$10,000 or less
$30 per payment
$10,000.01 to $50,000
$50 per payment
Greater than $50,000
$80 per payment
Incoming wire payments:
Canadian and U.S. currency
$15 per payment
Other currencies:
$15 CA per payment
Wire payment investigations:
Recall
$35 per investigation
Trace
$35 per investigation
Amend
$35 per investigation
Wire amendment fees may apply to both incoming and outgoing wire payments.
Outgoing wire fees will be charged in Canadian currency. For wires from foreign currency accounts, including U.S. accounts, the equivalent fee will be charged in the same currency as the account using an exchange rate set by CIBC on a date determined by CIBC. Correspondent banks may levy additional charges.
For Canadian and U.S. currency, the fee will be charged in the same currency as the incoming payment and deducted from the incoming payment amount. For other currencies, the Canadian equivalent fee will be converted to the same currency as the incoming payment using an exchange rate set by CIBC on a date determined by CIBC and deducted from the incoming payment amount.
Inter-branch payments (between CIBC Banking Centres in Canada):
$10,000 or less
$15 per payment
$10,000.01 to $25,000
$30 per payment
$25,000.01 to $100,000
$60 per payment
Greater than $100,000
$100 per payment
Additional out-of-pocket expenses may apply
Business overdraft:
For details about fees and interest, review business overdraft.
CIBC Smart Banking for Business:
For more information, talk to your CIBC business advisor.
Foreign currency transactions:
CIBC may, in its discretion, permit transactions in a currency different from that of your account. The foreign currency will be converted to the currency of your account at the exchange rate determined by CIBC on a date determined by CIBC, which may be different from the date you performed the transaction.
If a foreign currency instrument previously deposited and converted to the currency of your account is returned to CIBC unpaid for any reason, you agree an amount equal to the foreign currency instrument will be converted to the currency of your account based on a foreign exchange sell rate determined by CIBC on a date determined by CIBC and the converted amount will be charged back to your account.
CIBC is not responsible for any losses you may incur due to changes in foreign currency exchange rates or the unavailability of funds due to foreign currency restrictions. You agree that any claims CIBC may have against you, and any service or other charges related to your account, can be deducted from your account in the same currency as the account12.
Account conversions:
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 (money orders, for example) will not be refunded upon conversion.