CIBC’s personal chequing lineup is the CIBC Smart Account, whose monthly fee depends on the client’s average monthly balance of deposits and investments, and the CIBC Everyday Chequing Account, a basic account with a low monthly fee. The table gives each account’s monthly fee, transactions and Interac e-Transfer terms, with fees as of March 12, 2026, the date on CIBC’s Personal Account Service Fees document. Other charges are in the fees section.
CIBC chequing accounts and monthly fees
The Smart Account is a single account that CIBC places in one of three tiers, and its fees, features and benefits vary with the tier, so it takes three rows here. The tier is set by the higher of the client’s average monthly balances of deposits and investments for the previous two months.
| Account | Monthly fee | Transactions | Interac e-Transfer |
|---|---|---|---|
| CIBC Smart Account Tier 1 (average monthly balance of deposits and investments less than $40,000) | $16.95 a month for up to 3 CIBC Smart Accounts (each Smart Account after that is $16.95), or $0 with a minimum end-of-day balance of $4,000 each day of the month in any one Smart Account; $0 for clients 65 and older (CIBC Smart for Seniors) Waivers and overdraft | Unlimited transactions, including Interac e-Transfer | Unlimited Interac e-Transfer service included; the Interac e-Transfer fee is waived |
| CIBC Smart Account Tier 2 (average monthly balance of deposits and investments $40,000 or more) | $0 a month for up to 3 CIBC Smart Accounts (the $16.95 fee is rebated automatically); each Smart Account after that is $16.95 Waivers and overdraft | Unlimited transactions, including Interac e-Transfer | Unlimited Interac e-Transfer service included; the Interac e-Transfer fee is waived |
| CIBC Smart Account Tier 3 (average monthly balance of deposits and investments $100,000 or more) | $0 a month for up to 3 CIBC Smart Accounts (the $16.95 fee is rebated automatically); each Smart Account after that is $16.95 Waivers and overdraft | Unlimited transactions, including Interac e-Transfer | Unlimited Interac e-Transfer service included; the Interac e-Transfer fee is waived |
| CIBC Everyday Chequing Account | $4.00 a month for up to 18 transactions; $0 for clients 65 and older (a $4.00 monthly fee discount) Waivers and overdraft | Up to 18 transactions a month; $1.25 for each additional transaction over 18 | Unlimited Interac e-Transfer service fees are waived; each Interac e-Transfer you send counts as a transaction for calculating the monthly fee |
Sources: CIBC's chequing accounts page; Personal Account Service Fees, March 12, 2026 (PDF).
Fees as of March 12, 2026. Checked against CIBC's pages on October 20, 2026.
One Smart Account fee covers more than one Smart Account; the Monthly fee cells give how many. On the Everyday Chequing Account, each Interac e-Transfer sent counts as a transaction toward the monthly fee. CIBC has announced changes to the Smart Account and its fees, and its chequing page gives the date they start.
When does CIBC waive the monthly fee?
In Tier 1, CIBC rebates the Smart Account fee for a month in which one Smart Account holds the minimum end-of-day balance each day. In Tiers 2 and 3 the fee is rebated automatically on the number of Smart Accounts the Monthly fee cells give, since the tier benefits unlock as eligible balances grow. Older clients pay no monthly account fee under CIBC Smart for Seniors, and the Everyday Chequing Account has no monthly fee for seniors; the expanders give the age. CIBC Smart Start, CIBC Smart for Students, the RDSP monthly fee rebate and the Smart Account for newcomers or for foreign workers also remove the fee, each on its own conditions. The amounts are in the Monthly fee column above; each expander below gives an account’s full waiver and overdraft terms.
CIBC Smart Account Tier 1 (average monthly balance of deposits and investments less than $40,000)
Monthly fee: $16.95 a month for up to 3 CIBC Smart Accounts (each Smart Account after that is $16.95), or $0 with a minimum end-of-day balance of $4,000 each day of the month in any one Smart Account; $0 for clients 65 and older (CIBC Smart for Seniors)
How the fee is waived or rebated: Keep a minimum end-of-day balance of $4,000 each day of the month in any one of your CIBC Smart Accounts for a $16.95 monthly fee rebate on up to 3 Smart Accounts (more than 3 Smart Accounts: the same $4,000 minimum each day for a rebate on each additional account); clients 65 and older pay $0 with CIBC Smart for Seniors; CIBC Smart Start (24 and under), Smart for Students, the RDSP rebate and newcomer and foreign worker benefits also rebate the $16.95 fee
Overdraft protection on this account: CIBC Overdraft Protection Service (subject to credit approval): Pay Per Use, $5.00 for any business day in which an overdraft is created or increased (not available to Quebec residents), or a Monthly Fixed Fee of $5.00 at the end of every month (not applicable to Quebec residents); 21% a year interest on the overdraft, which may vary
Source: CIBC's page
CIBC Smart Account Tier 2 (average monthly balance of deposits and investments $40,000 or more)
Monthly fee: $0 a month for up to 3 CIBC Smart Accounts (the $16.95 fee is rebated automatically); each Smart Account after that is $16.95
How the fee is waived or rebated: The $16.95 monthly fee is rebated automatically on up to 3 Smart Accounts at this average monthly balance tier ($40,000 or more of eligible deposits and investments); for more than 3 Smart Accounts, a minimum end-of-day balance of $4,000 each day of the month earns a rebate on each additional account
Overdraft protection on this account: CIBC Overdraft Protection Service (subject to credit approval): Pay Per Use, $5.00 for any business day in which an overdraft is created or increased (not available to Quebec residents), or a Monthly Fixed Fee of $5.00 at the end of every month (not applicable to Quebec residents); 21% a year interest on the overdraft, which may vary
Source: CIBC's page
CIBC Smart Account Tier 3 (average monthly balance of deposits and investments $100,000 or more)
Monthly fee: $0 a month for up to 3 CIBC Smart Accounts (the $16.95 fee is rebated automatically); each Smart Account after that is $16.95
How the fee is waived or rebated: The $16.95 monthly fee is rebated automatically on up to 3 Smart Accounts at this average monthly balance tier ($100,000 or more of eligible deposits and investments); for more than 3 Smart Accounts, a minimum end-of-day balance of $4,000 each day of the month earns a rebate on each additional account
Overdraft protection on this account: CIBC Overdraft Protection Service (subject to credit approval): Pay Per Use, $5.00 for any business day in which an overdraft is created or increased (not available to Quebec residents), or a Monthly Fixed Fee of $5.00 at the end of every month (not applicable to Quebec residents); 21% a year interest on the overdraft, which may vary; the Monthly Fixed Fee is not applied on up to 3 CIBC Smart Accounts
Source: CIBC's page
CIBC Everyday Chequing Account
Monthly fee: $4.00 a month for up to 18 transactions; $0 for clients 65 and older (a $4.00 monthly fee discount)
How the fee is waived or rebated: Clients 65 and older get a $4.00 monthly fee discount, so there is no monthly fee for up to 18 transactions
Overdraft protection on this account: CIBC Overdraft Protection Service (subject to credit approval): Pay Per Use, $5.00 for any business day in which an overdraft is created or increased (not available to Quebec residents), or a Monthly Fixed Fee of $5.00 at the end of every month (not applicable to Quebec residents); 21% a year interest on the overdraft, which may vary
Source: CIBC's page
CIBC accounts for students, seniors and newcomers
- Students and young clients: CIBC Smart Start and CIBC Smart for Students are Smart Accounts with no monthly fee while the client qualifies by age or by full-time study, listed in the Tier 1 expander; other banks’ options are on student bank accounts.
- Seniors: CIBC Smart for Seniors and the Everyday Chequing Account’s seniors’ price are in the Tier 1 and Everyday Chequing expanders; more is on senior bank accounts.
- Newcomers and foreign workers: CIBC’s Smart Account for each pays no monthly fee for a set period; other banks’ programs are on newcomer bank accounts.
- Children and teens: children’s bank accounts.
CIBC fees: NSF, overdraft, ATM and other charges
Each row gives a CIBC service charge, its conditions and its source.
| Fee | What CIBC charges | Source |
|---|---|---|
| Returned item (NSF) | $10.00 (CAD personal deposit accounts), $5.00 (USD personal deposit accounts), $45.00 (personal line of credit accounts) Charged each time a payment item is presented or represented; not charged on the same deposit account more than once within two business days, or if the personal deposit account is overdrawn by less than $10.00 | CIBC's fee document (PDF) |
| Overdraft protection | $5.00/month flat fee (Monthly Fixed Fee, not applicable to Quebec residents), or $5.00 per business day on which an overdraft is created or increased (Pay Per Use, not available to Quebec residents); CIBC Overdraft Protection Service (COPS) | CIBC's fee document (PDF) |
| Overdraft interest | 21% per year | CIBC's fee document (PDF) |
| Over Limit Fee (with Overdraft Protection) and Casual Overdraft (without it) | $5.00 (based on end-of-day balances) plus interest when CIBC processes a debit that exceeds your Overdraft Limit, in addition to the overdraft fee option on your account (the Over Limit Fee does not apply to Quebec residents); $5.00 plus interest when CIBC processes a debit that overdraws an account without CIBC Overdraft Protection Service | CIBC's fee document (PDF) |
| Sending an Interac e-Transfer | Included with select CIBC accounts, otherwise $1.50 per transfer to send money or send a request for money; the fee is waived on CIBC Smart Accounts and the CIBC Everyday Chequing Account, and clients 65 and older do not pay it on any CIBC chequing account | CIBC's page |
| Cash from another bank's ATM | $2.00 (Canada, Interac); $3.00 + 2.5% admin fee (US, Plus/Visa networks); $5.00 + 2.5% admin fee (elsewhere internationally) | CIBC's fee document (PDF) |
| Debit purchases and withdrawals outside Canada in U.S. or other foreign currency | An additional 2.5% administration fee | CIBC's fee document (PDF) |
| Stop payment | $12.50 (full details provided), $20.00 (full details not provided), $3.50 (on an Interac e-Transfer) | CIBC's fee document (PDF) |
| Bank draft | $9.95 (all currencies) | CIBC's fee document (PDF) |
| Statements (record-keeping options) | CIBC Smart Account: paperless record-keeping is free; monthly statement $2.25 a month; quarterly statement $0.75 a month; monthly statement with cheques imaged $2.75 a month; interim statement $4.50 each. CIBC Everyday Chequing Account: paperless, monthly statement, quarterly statement or monthly statement with cheques imaged record-keeping are free; interim statement $4.50 each | CIBC's fee document (PDF) |
| Transfer bank account to another financial institution (Balance of Account form) | $19.50 per account | CIBC's fee document (PDF) |
| Dormant (inactive) account | $20.00 a year when dormant for 2, 3 or 4 years; $30.00 a year for 5, 6, 7 or 8 years; $40.00 a year for 9 years (or the account balance, whichever is less); not applicable to accounts where all accountholders are 18 years of age or younger | CIBC's fee document (PDF) |
| Safety deposit box | $80.00 (small) to $500.00 and above (extra large) a year; CIBC says the annual price may vary with the box's dimensions | CIBC's fee document (PDF) |
CIBC's fee document: Personal Account Service Fees, March 12, 2026 (PDF).
Fees as of March 12, 2026. Checked against CIBC's pages between October 19, 2026 and October 20, 2026.
Related charges and rules:
- How returned payments and NSF fees work: what happens when a cheque bounces; how overdraft protection works: overdraft protection.
- CIBC beside the other big banks, fee by fee: Canadian bank fees.
- CIBC’s wire fees: wire transfers; drafts: bank drafts and certified cheques.
- CIBC’s sending limits and cash withdrawal limits: e-Transfer limits, ATM withdrawal limits.
CIBC savings and US-dollar accounts
The CIBC eAdvantage Savings Account pays regular interest by daily closing balance, with a top regular rate of 0.60% (daily closing balance of $100,000 or more), and its other tiers and offers are in CIBC’s row of the savings rate table. CIBC’s US-dollar accounts are on US-dollar accounts, and the CIBC Bank USA Smart Account, a US account for people who live, travel, shop and work in the US, is under cross-border banking.
Opening an account and comparing banks
- CIBC’s transit and institution numbers and void cheques: CIBC routing numbers.
- How CIBC, TD and RBC line up: CIBC vs TD vs RBC; accounts without a monthly fee: no-fee chequing accounts.
- CIBC offers the Everyday Chequing Account in accordance with the Commitment on Low-Cost and No-Cost Accounts, covered on low-cost and no-cost accounts. Moving from another bank: switching banks.
- CIBC runs sign-up offers; how they work is on bank account promotions.
- Accounts for a company: business bank accounts.
- Simplii Financial, whose name CIBC owns, runs as a division of Canadian Imperial Bank of Commerce (CIBC): Simplii Financial.
- CIBC’s cards and brokerage: CIBC credit cards, CIBC Investor’s Edge.
- Other banks’ chequing accounts and fees: RBC, TD, BMO, Scotiabank, Manulife Bank.
Sources
The figures and rules on this page come from these sources, last checked against them on September 14, 2026. How we check facts.
- CIBC: Cibc pasf en
- CIBC: Savings Accounts | CIBC
- CIBC: Data table
- CIBC: Chequing accounts
- CIBC: Send interac e transfer
- simplii.com: Faq