CIBC Smart™ for Foreign Workers

New to Canada? We can help you settle in.

Make your new life in Canada a little easier

Welcome to Canada

Enjoy our great discounts if you're a temporary resident in Canada with a valid work permit.¹

Get your banking off to a good start

Open a CIBC Smart^TM Account to enjoy unlimited transactions and no monthly fee for an entire year.²

Send money to loved ones

Move your money anywhere with CIBC Global Money Transfer^{TM, 3} and unlimited Interac e-Transfer^Ⓡ transactions.

OUR BIGGEST OFFER

Get up to $400^†

when you open your first eligible CIBC chequing account.

Apply now Learn more

CIBC Smart for Foreign Workers at a glance

Monthly fee

Daily balance to avoid monthly fee

$0
for one year

Not applicable

Interac e-Transfer^Ⓡ
transactions

Transactions

Free

Unlimited
for one year

Global Money Transfer

Available to more than 90 countries

Fees and details

How do I qualify?

CIBC Smart for Foreign Workers:

You’re a temporary resident in Canada with a valid work permit (IMM 1442)
You can provide valid identification Opens a popup.
You’ve reached the age of majority in your province or territory Learn about the age of majority. Opens a popup.

Apply now

Learn how to switch to CIBC

Welcome to better banking

Send your money around the world

Transfer funds abroad to anyone, anywhere. Send money to more than 90 countries, including India, the Philippines, China and the United States. Learn about CIBC Global Money Transfer.³

Bank your way

Bank when, where and how you want with CIBC Online Banking® and our award-winning CIBC Mobile Banking® App. We deliver the access you expect with nearly 4,000 ATMs across Canada.

Free paperless record keeping⁴

Access up to 7 years of your eStatements, anywhere, any time through online and mobile banking.

Learn how to switch to eStatements

Explore cross-border banking

Make real-time cross-border transfers between your Canada-based accounts and the CIBC Bank USA Smart Account^TM.

Learn about cross-border banking

Help and advice

Advice

Welcome to Canada

^{Get great advice, tips, and banking services for newcomers.}

Learn more

Advice

Understand your credit rating

^{Build a good credit rating to help support your future borrowing needs.}

Learn more

How to

Save on bank account fees

^{Find the right product and learn how to reduce your everyday banking fees.}

Learn more

Questions?

Get in touch

Meet with us

Call us

CIBC is a member of Canada Deposit Insurance Corporation (CDIC)

^† Cash reward offer begins on April 30, 2022, at 12:01 am ET and ends on January 31, 2023, at 9:00 pm ET. Offer available to Canadian residents who are age 25 and older for a CIBC Smart™ Account or have reached the age of majority for a CIBC Smart™ Plus Account, and from 2019 to the time of opening the account are not holders or joint holders of a CIBC chequing account, all as determined by CIBC in its sole discretion. To qualify for the first $350, open a CIBC Smart Account or CIBC Smart Plus Account and provide your email address. Within 2 months of opening the account, complete at least 1 recurring direct deposit and 1 of the following 3 activities: (i) at least 2 different recurring pre-authorized debits; (ii) at least 2 eligible Visa Debit purchases; or (iii) at least 2 online bill payments of at least $50 each. The direct deposit and the pre-authorized debit must remain in effect for at least 1 year from after the month of opening the account. Eligibility of transactions will be determined by CIBC in its sole discretion. To qualify for the additional $50, complete steps to receive the first $350 and within 2 months of opening the Smart Account or Smart Plus Account, transfer at least $200 from your account into your eAdvantage® Savings Account. Offer cannot be combined with any other offer, reward, rebate or the CIBC Smart Start or Smart for Students benefit on the Smart Account unless otherwise indicated by CIBC. The cash reward will be deposited into your account within 7 months after the month that you opened the account. Other conditions apply; review the terms and conditions (PDF, 135 KB) Opens in a new window..

This is a general description only. Get complete information about fees.

¹ These offers may be changed or withdrawn at any time. Unless otherwise specified, special offers are limited to one per person. Offers apply to newly-issued products only. To be eligible to receive these offers, the customer must present a valid Canadian Work Permit 12 months or greater and request the CIBC Offer for Foreign Workers when applying for a product. Other conditions apply.

² 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 personal bank account(s) and to your CIBC Personal Line(s) of Credit (except Interac e-Transfer service which will be treated as a transaction) and transfers to your CIBC Credit Card account(s). 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. Other fees (in addition to any transaction fee) include: withdrawals from non-CIBC bank machines (for CIBC Smart Plus Accounts, the fee for all non-CIBC ATM withdrawals in Canada, the U.S. and internationally is rebated each month; for CIBC Smart Accounts and for clients enrolled in CIBC Smart Start or CIBC Smart for Students, the fee for 1 non-CIBC ATM withdrawal made in Canada is rebated each month), 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 Smart Start, CIBC Premium Growth Account with CIBC Advantage for Youth, CIBC Smart for Students, and CIBC Advantage for Students on the CIBC Everyday Chequing Account; clients 65 years of age and older do not pay the Interac e-Transfer fee on any CIBC chequing account) and foreign currency transactions (including cheques written in currencies other than the account currency).

³ CIBC foreign exchange rates apply. A Global Money Transfer and a foreign exchange transaction counts towards your allowable transaction limit, bank account transaction fees may apply. Must have a CIBC chequing, savings or personal line of credit account to send a CIBC Global Money Transfer. Most transfers are completed by the next business day, some transfers require 2 to 3 business days. Review the CIBC Global Money Transfer Agreement^TM (PDF, 100 KB) Opens in a new window..

⁴ "Paperless" record keeping is a paper-free alternative to statements and bankbooks. This option enables customers to track account activity online or by phone or CIBC bank machine. Please note, no electronic or printed statements will be sent to customers selecting this option. Customers must review their account transactions through CIBC Online or 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, customers must notify CIBC in writing within 60 days after the date on which the entry was, or should have been, posted to the account. Banking activity that occurred prior to Online Banking registration will not be available in the Online or Mobile Banking transaction history.

Trademarks

CIBC Smart™ for Foreign Workers

Make your new life in Canada a little easier

Welcome to Canada

Get your banking off to a good start

Send money to loved ones

CIBC Smart for Foreign Workers at a glance

Monthly fee

Daily balance to avoid monthly fee

Interac e-TransferⓇ transactions

Transactions

Global Money Transfer

How do I qualify?

CIBC Smart for Foreign Workers:

Welcome to better banking

Send your money around the world

Bank your way

Bank when, where and how you want with CIBC Online Banking® and our award-winning CIBC Mobile Banking® App. We deliver the access you expect with nearly 4,000 ATMs across Canada.

Free paperless record keeping4

Explore cross-border banking

Make real-time cross-border transfers between your Canada-based accounts and the CIBC Bank USA Smart AccountTM.

Learn about cross-border banking

Help and advice

Lost, stolen or damaged cards

Report fraud

Resources

Advice

Welcome to Canada

Advice

Understand your credit rating

How to

Save on bank account fees

Get in touch

Interac e-Transfer^Ⓡ
transactions

Free paperless record keeping⁴

Make real-time cross-border transfers between your Canada-based accounts and the CIBC Bank USA Smart Account^TM.