1 Monthly fee applies even if there is no account activity. Other fees may apply to the operation of your account. To learn more, refer to pages 6 to 12 in Business Account Service Fees (PDF, 995 KB) Opens in a new window..
2 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.
If you perform fewer than the allowed number of transactions in a month, the unused transactions cannot be carried forward to subsequent months.
3 Self-service refers to cheques written as well as transactions performed through an ATM, Point of Sale terminal, ABM-Wallet Combo Depository Service, CIBC Telephone Banking Automated Service, CIBC Business Contact Centre Automated Service, CIBC Online Banking, SmartBanking® for Business (SmartBanking), CMO, CIBC eDeposit for cash, or CIBC eDeposit for cheques.
4 Full-service refers to transactions performed in a CIBC Banking Centre, through a CIBC Telephone Banking representative, through a CIBC Business Contact Centre representative, or through the regular Wallet Depository Service.
5 Cheque deposits include cheques, money orders, drafts and all other clearing items. “Items Deposited” charges apply to deposits in excess of the deposit package. To learn more, refer to page 7 in Business Account Service Fees (PDF, 995 KB) Opens in a new window..
6 eStatements are available for Canadian and U.S. dollar CIBC business accounts. eStatements are available once a month at month end on CIBC Online Banking or based on your preferred statement cycle on CIBC SmartBanking for Business (SmartBanking) or 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 SmartBanking or CMO, you must be registered for the platform, entitled to one or more business accounts and entitled to eStatements. Included with CMO monthly Maintenance fee.
7 If there is no account activity, a statement may not be produced. If no statement is produced, the printed statement fee will not apply.
8 Other than CIBC Telephone Banking.
9 This means ATMs not displaying the CIBC name or logo. Some ATMs may levy additional surcharges.
10 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.
11 Three dormant (inactive) account notices will be sent to you, the first after two years, the second after five years and the third after nine years. Charges will only be levied if you do not complete and return the acknowledgement on the notice, or reactivate your account, within the time frame specified on the notice.
12 Fees also apply to wire payments initiated in any other way. To learn more, talk to your CIBC advisor.
13 Other fees and charges may also apply as a result of a deposit being charged back to your account.
General terms and conditions
- Cheques or debits transacted at your CIBC Banking Centre may not be included with the account statement.
- Cheques deposited will be credited subject to final payment. We undertake to exercise reasonable diligence to collect cheques, but are not responsible for any delay, notice or failure to collect.
- You may make deposits at any CIBC Banking Centre which accepts over-the-counter business deposits (each a “depository location”). All deposits made at a depository location will be credited to one or more of your accounts (each a “designated account”). Your branch of account for any deposits made at a depository location will continue to be the CIBC Banking Centre which maintains the designated account to be credited with your deposits. Each deposit made at a depository location, through a teller processing for same day value, will be processed for credit to the related designated account as of the same business day. Deposits made through a teller not processed for same day value will be processed for credit as of the next business day. Saturdays, Sundays and holidays that CIBC is closed are not business days for this purpose. Cash withdrawals are not permitted and cheques cannot be cashed or certified at depository locations other than your branch of account. You authorize CIBC to debit your designated account for any returned item pertaining to deposits previously processed.
- In most cases, deposits, withdrawals and other transactions done at a CIBC Banking Centre or CIBC ATM after 6:00 p.m. local time, and any telephone banking and online banking transactions done after 6:00 p.m. Eastern Time will be processed the next business day.
- Monthly account, transaction and items deposited fees are calculated for the calendar month up to and including the final business day of the month. Such fees are dated the final calendar day of the month but are not posted until the second business day in the following month.
- U.S. dollar coins deposited or exchanged will be treated as if they are Canadian dollar coins.
- All fees are subject to GST/HST/QST and PST where applicable.
- Please note: In some instances, different charges or interest rates, separately negotiated between CIBC and the individual client, may apply. Other terms and conditions applicable to your account are set out in the account agreements or in the agreement respecting the particular service.
- Charges for services not contained in this summary may be obtained from a CIBC business advisor.
- 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 bylaws, regulations, rules and standards of CIBC and the Canadian Payments Association.