Tiered banking

Your CIBC Smart Account will be assigned to a tier based on the eligible balances you hold with us.

Here’s an example of some of the accounts and products that are included in the calculation of eligible balances:

• CIBC chequing and savings accounts
• GICs issued by CIBC
• CIBC Investment accounts
• CIBC Mutual Funds
• Investor’s Edge, Imperial Investor Services and Personal Portfolio Services

Tiers are calculated monthly and are based on the 2 previous average monthly balances calculated. The month with the highest average monthly balance calculated will be used to determine your account tier and current month's eligible features and benefits for that tier.

If you have other non-CIBC accounts, you can transfer your deposits and investments to us to move through the tiers faster and unlock additional features and benefits.

For more details on what's considered an eligible balance, the calculation of average monthly balances and how tiers are determined, review the Personal Account Service Fees (PDF, 425 KB) Opens a new window..

You can sign on to the CIBC Mobile Banking® App and CIBC Online Banking® to find out which tier your CIBC Smart Account is in. Your account's current tier will be located within the "Account details" section of your CIBC Smart Account. You'll also be able to call CIBC Telephone Banking at 1-800-465-2422 Opens your phone app. to find out your account's current tier.

On the fifth business day of each month, your account's tier will be updated, if necessary, and will change in mobile and online banking.

It could take up to 2 months to be placed into a new tier after you transfer your funds to us, depending on when the transfer was initiated and how much you are transferring.

We’ll use your higher average monthly balance^ⓘ of the last 2 months to determine which tier you’ll be placed into, so any minor temporary changes to your balance shouldn’t impact your features and benefits. 

For example, you had a daily closing balance of $45,000 every day in the month of June. You maintained this balance throughout July until your balance dipped to $35,000 on the second last business day of the month. 

When determining what tier we’d place you in, your average monthly balance^ⓘ would be $45,000 for June and $44,090 for July, despite the temporary dip below Tier 2’s $40,000 threshold. 

Here’s an example of some of the accounts and products that are included in the calculation of eligible balances:

• CIBC chequing and savings accounts
• GICs issued by CIBC
• CIBC Investment accounts
• CIBC Mutual Funds
• Investor’s Edge, Imperial Investor Services and Personal Portfolio Services

Here’s an example of what is not considered an eligible balance:

• Non-personal or business accounts
• CIBC lending products, including mortgages
• Simplii Financial products
• CIBC Bank USA products
• Investments held at CIBC Mellon

For more details on what’s considered an eligible balance, the calculation of average monthly balances and how tiers are determined, review the Personal Account Service Fees (PDF, 425 KB) Opens a new window..

You’ll automatically qualify for Tier 3 and all the associated features and benefits if you’re a client of CIBC Private Wealth, CIBC Wood Gundy or CIBC Private Investment Counsel. These features and benefits include a monthly fee rebate, a full rebate of up to $139 on an active^ⓘ eligible^ⓘ CIBC credit card and a rebate of up to $50 for 3 authorized users on an active^ⓘ eligible^ⓘ CIBC credit card.    

There are a few ways to qualify for a monthly fee rebate on your CIBC Smart Account:

• If you maintain an end-of-day account balance of $4,000 each day for that month in one CIBC Smart Account, you qualify for a fee rebate on up to 3 CIBC Smart Accounts^ⓘ, ⓘ.   
• If you have an average monthly balance of over $40,000^ⓘ, you qualify for Tier 2, which includes a monthly fee rebate on up to 3 CIBC Smart Accounts^ⓘ, ⓘ. If you have an average monthly balance of over $100,000^ⓘ, you qualify for Tier 3, which also includes a monthly fee rebate on up to 3 CIBC Smart Accounts^ⓘ, ⓘ.      
• If you’re a youth or student under 25^ⓘ, a student age 25 and up^ⓘ, a senior^ⓘ, a newcomer^ⓘ, a foreign worker^ⓘ an RDSP beneficiary or a recipient of the Disability Tax Credit, you may be eligible for a monthly account fee rebate on your CIBC Smart Account.      

Seniors^ⓘ, students under the age of 25^ⓘ and students age 25 and up^ⓘ pay no monthly fee on all their CIBC Smart Accounts regardless of eligible balances^ⓘ.     

With the CIBC Smart Account, in addition to no-monthly fee banking, seniors and students can also unlock additional features and benefits through tiered banking. If you have over $40,000 in total eligible balances with us, you can access features and benefits including annual fee rebates on an active^ⓘ eligible^ⓘ CIBC credit card.