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
Understanding your account
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.
More helpful tips
Take advantage of additional benefits
