CIBC at a Glance
| Feature | Details |
|---|---|
| Full name | Canadian Imperial Bank of Commerce |
| Founded | 1961 (merger of Imperial Bank + Commerce Bank) |
| Headquarters | Toronto, Ontario |
| Branches | 1,000+ |
| ATMs | 3,400+ |
| CDIC insured | ✅ Yes |
Chequing Accounts
| Account | Monthly Fee | Fee Waiver | Transactions |
|---|---|---|---|
| Everyday | $4.95 | $1,000 balance | 12/month |
| Smart Account | $14.95 | Pay per use option | Unlimited |
| Smart Plus | $29.95 | $6,000 balance | Unlimited + extras |
Credit Cards
| Card | Annual Fee | Key Benefit |
|---|---|---|
| CIBC Dividend VI | $139 (waivable) | 4% groceries, 2% dining/gas |
| CIBC Costco MC | $0 | 3% dining/gas, 2% Costco |
| CIBC Aventura VI | $139 | Travel rewards |
| CIBC Aeroplan VI | $139 | Aeroplan points |
Investing
| Service | Details |
|---|---|
| CIBC Investor’s Edge | $6.95/trade (low for Big 5) |
| CIBC Imperial Service | Advisor-assisted investing |
| CIBC Wood Gundy | Full-service wealth management |
Pros and Cons
| Pros | Cons |
|---|---|
| CIBC Investor’s Edge ($6.95 trades) | Monthly fees higher than online banks |
| Dividend VI fee waiver for clients | Savings rates below online banks |
| 1,000+ branches | App not quite as polished as RBC/TD |
| Costco Mastercard partnership | Less branch presence out west |
Who Should Bank with CIBC
| Profile | Recommendation |
|---|---|
| Want low-cost Big 5 brokerage | ✅ Investor’s Edge is excellent |
| Costco shopper | ✅ CIBC Costco MC is a must-have |
| Want fee-waived credit card | ✅ Dividend VI waived for clients |
| Want lowest fees | ❌ Choose online banks |