Choose the right account

Chequing account

A chequing account lets you deposit money to pay bills and make everyday purchases online or in person. This is a “spending” account.

Why use a chequing account?

  • It generally offers more transactions as part of your monthly fee
  • It lets you pay bills and use your debit card more often for day-to-day spending

Savings account

A savings account lets you deposit money to save for short-term goals or emergencies.

Why use a savings account?

  • It doesn’t typically have a monthly fee, but may have transaction or record-keeping fees
  • It can help you set aside money for when you need it
  • It may help you earn interest

Solutions to consider

CIBC Smart™ Account

Learn moreLearn more about the CIBC Smart Account

CIBC eAdvantage® Savings Account

  • Free transfers to your other CIBC personal accounts through online, mobile or telephone banking and our ATM network

Learn moreLearn more about the CIBC eAdvantage Savings Account

Understanding your account

More helpful tips

  • Get great financial advice, along with the information and tools you need to help you reach your goals, by visiting the CIBC Advice Centre
  • For all your banking enquiries, contact us in a way that’s convenient for you. Contact us
  • You may be able change your account type to change the features of your account without changing your account number. Contact us

Take advantage of additional benefits

Explore banking resources