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 more about the CIBC Smart Account

CIBC eAdvantage® Savings Account

Learn more about the CIBC eAdvantage Savings Account

Understanding your account

CIBC Overdraft Protection Service

Other steps you can take

Avoid an NSF fee

Forgot about that payment? With CIBC Smart Balance Alert™, we’ll text you so you can avoid a non-sufficient funds fee and a declined payment.

Learn more about Smart Balance Alert

More helpful tips

Take advantage of additional benefits

Explore banking resources