† Offer only open to Canadian residents who are not holders or joint holders of a CIBC chequing account.
To qualify, open a CIBC Smart Account and provide your email address. Within 3 calendar months, set up and complete at least 1 eligible recurring direct deposit OR at least 2 different eligible recurring pre-authorized debits to occur within the same calendar month (each, a “Qualifying Action”). The monthly account fee will be rebated for the calendar month in which the account is opened and the first 3 full calendar months immediately following the end of the calendar month in which the account is opened.
If at least 1 Qualifying Action is completed each month for 9 full calendar months following the first 3 calendar months after the account was opened, the monthly account fee will be rebated for each calendar month in which the Qualifying Action occurs; the monthly account fee will apply without further notice for each month where no Qualifying Action is completed and at the end of the offer period that began when the CIBC Smart Account was opened. Other service fees continue to apply as set out in the Personal Account Service Fees brochure.
Other conditions apply. For full offer details, visit a CIBC Banking Centre or review the terms and conditions (PDF, 95 KB)Opens a new window in your browser.
1 A transaction includes cheques, withdrawals, transfers, pre-authorized payments, bill payments (including CIBC Credit Cards and CIBC Personal Lines of Credit) and debit purchases. For CIBC eAdvantage Savings Accounts, a transaction does not include transfers to your other CIBC bank account(s) using the transfer function on CIBC Online Banking, CIBC Mobile Banking, CIBC Telephone Banking and at CIBC ATMs. For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free. "CIBC-branded” means any brand that has CIBC in its name and is offered by CIBC or its Canadian affiliates (and does not include CIBC Bank USA). Other fees (in addition to any transaction fee) include: withdrawals from non-CIBC bank machines (rebated for CIBC Smart Plus Accounts except the 2.5% administration fee on the converted amount of foreign currency ATM withdrawals), wire payments, Interac e-Transfer transactions (the Interac e-Transfer fee is waived for CIBC Smart Accounts, CIBC Smart Plus Accounts and for clients who are enrolled in CIBC Advantage for Youth, CIBC Smart for Students, CIBC Smart for Seniors (on the CIBC Smart Account) and CIBC Advantage for Students (on the CIBC Everyday Chequing Account) and transactions in foreign currency (including cheques written in currencies other than the account currency).
2 Any free or unused transactions cannot be carried forward for use in subsequent months.
3 Eligible recurring transactions: Most recurring direct deposits and pre-authorized debits are eligible. Examples of common recurring direct deposits are payroll, CPP/QPP, disability payments, dividends, and government deposits such as Employment Insurance and provincial parental insurance plan (PPIP). Examples of common recurring pre-authorized debits are pre-authorized bill payments and loan or mortgage payments where you set up pre-authorized instructions with your mortgage, loan, credit card and/or other provider directly from your CIBC Smart Account. Recurring pre-authorized fund transfers that you initiate (i.e., if you use telephone banking, ATM and/or online banking to set up) to other CIBC deposit, credit card or line of credit accounts, or to accounts at other financial institutions, are not eligible for the fee waiver. For further details, consult with your advisor or telephone banking representative to determine whether any given pre-authorized debits or direct deposits are eligible for the fee waiver.
4 Entire monthly fee is rebated if you maintain a minimum end of day balance of $3,000 each day and a recurring direct deposit or 2 pre-authorized payments each month in this account. For details, review the CIBC Smart Account fee rebate terms and conditions, part of the Personal account service fees (PDF, 535 KB) Opens a new window in your browser..
5 The additional $1.50 service fee is waived for sending Interac e-Transfer transactions. Each Interac e-Transfer transaction you send counts as a transaction for calculating your monthly fee. Maximum dollar amount applies for Interac e-Transfer transactions. For details, review the CIBC Interac e-Transfer Terms and Conditions (PDF, 300 KB) Opens a new window in your browser..
6 “Paperless” record keeping is a paper-free alternative to printed statements. This option enables clients to track account activity online or by phone or CIBC bank machine. Please note, no printed statements will be sent to clients selecting this option. Clients must review their account transactions through CIBC Online Banking, CIBC Mobile Banking, CIBC Telephone Banking or CIBC bank machines at least once every 30 days and examine all entries and balances at that time. If there are any errors, omissions or irregularities, clients must notify CIBC in writing within 60 days after the date on which the entry was, or should have been, posted to the account.