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Business Chequing

  • Reduce operating expenses -- during the early stage of your business receive a monthly FREE transaction allowance and have the low monthly service fee waived for the first 3 months
  • Bank anytime -- FREE 24-Hour access to accounts through Online Banking to track account balances, transfer funds and more
  • Reconcile bank statements - made easy through the duplicated cheque writing system and recording of the cheque numbers on the bank statement
  • Automation of re-occurring payments -- pre authorised payments can be arranged to cover re-occurring obligations
  • Eliminates the need to carry cash -- Convenient for shopping and paying bills. 24-Hour account access to accounts 7 days a week via our Instant Teller network, other financial institutions’ ATMs and merchant locations where available

Balances & Fees
  • A minimum amount is required to open this account
  • A monthly service fee is applied on the last working day of the month
    • o No monthly service fee for the first 3 months of operation
  • 2 FREE debits and 2 FREE credits per month (items include the total combination of cheques paid, in-branch deposits, and in-branch withdrawals)
  • Instant Teller transactions are not included

Additional Features
  • Unlimited cheque writing:
    • Personalised cheques are available in a variety of styles and scenes; a charge is levied for printing
    • All cheques are magnetically (MICR) encoded with sequential numbering
    • Government Stamp Duty may be applicable
    • A stop payment facility is available for a fee
  • FREE Online Banking with bill payments. Some transactions (e.g. for wire transfers), will attract separate charges
  • A FREE statement is only available via our Online Banking service
    • A FREE mini-statement of the last 10 transactions is provided through our Instant Tellers
  • Mailed statements may be requested for an additional charge
    • Mailed statements will be provided for FREE to clients without access to Online Banking
  • FREE 24–Hour Automated Telephone Banking
  • A CIBC FirstCaribbean Overdraft Facility can be established on the account subject to agreement and meeting of the qualifying criteria
    • Clients will have no authorisation to present cheques when funds are not held on the account
  • Arrangements can be made to set up standing orders against the client’s account to pay bills and loans, and to transfer funds between account

Special Conditions
  • FREE banking at CIBC FirstCaribbean Instant Tellers is available ONLY to businesses that fall into any one of the following categories:
    • Is a sole trader/proprietor
    • Has a business account where only one signatory to the account is required
    • Has a business account with more than one signatory and only one signature is required to perform transactions on the account. A charge is levied for withdrawals and inquiries done at non-CIBC FirstCaribbean ATMs
    • CIBC FirstCaribbean Instant Tellers have 24-Hour access for Cash Withdrawals, Mini-Statements, Transfers and other transactions using the CIBC FirstCaribbean Bank Card
    • A charge is levied for withdrawals and inquiries done at non-CIBC FirstCaribbean ATMs

Product features vary by location. Please contact your local branch for further details.

Terms and Conditions for Business Accounts (PDF, 406 KB)