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Canadian Dollar Accounts
All of the following fees for Canadian accounts are in Canadian dollars.
CIBC Business Operating Account™ for Small Business Clients, Additional Option
The CIBC Business Operating Account, Additional Option is a Canadian dollar account for the day-to-day operation of your business. The account can be accessed through CIBC bank machines, CIBC Telephone, Online or Branch Banking or by INTERAC* Direct Payment.
This account offers:
- Cheques, withdrawals, bill payments and INTERAC debits
- Over-the-counter deposits at any CIBC location accepting business deposits
- CIBC bank machine and INTERAC* Direct Payment access
- Unlimited account balance or account activity inquiries through CIBC bank machines, CIBC Telephone or Online Banking
- Ability to transfer between CIBC accounts+ in person at your branch, via CIBC bank machine, CIBC Telephone or Online Banking
- Unlimited number of CIBC Small Business Convenience Cards™
- The ability to assign routine financial transactions and tasks to your delegates with the CIBC Small Business Customized Access® feature
- One month-end statement1
- Wallet Depository Service
Two types of account plans are available:
+ Withdrawal and/or deposit charges may apply depending upon your account plan.
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CIBC Business Operating Account for Commercial/Large Corporate
Clients
The CIBC Business Operating Account is a Canadian dollar account that offers
features and functionality designed to satisfy all of your business transactional needs.
This account offers:
- Cheques, withdrawals and bill payments
- Over-the-counter deposits at any CIBC location accepting business deposits
- One month-end statement1
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CIBC Business Interest Account®
The CIBC Business Interest Account (CBIA) is a tiered savings account for business clients, and is available only in Canadian dollars.
You can transfer surplus funds from an operating account, such as a CIBC Business Operating Account, into your CBIA to take advantage of higher interest rates+. The CBIA is not intended to act as an operating account. Rather, it is an account that allows you to earn interest on surplus funds.
This account offers:
- Daily interest, which is calculated on each day's final balance
- Tiered interest - balance levels determine the interest rate
- Annual Bonus Interest Rate - regardless of the daily balance amount, bonus interest is paid on the minimum balance in the account during the calendar month
- One month-end statement1
Fee summary
- Two free debits± per calendar month3 up to a maximum value of $1.40 each
- Each subsequent debit other than a withdrawal$1.50
- Each subsequent withdrawal$1.40
Note: Deposits of coin, currency, more than four cheques at once or a combination of these are not acceptable. Overdraft protection is NOT available for this account.
Interest
For CIBC Business Interest Accounts, interest is credited to your account effective as of the last business day of the calendar month. However, the interest cannot be withdrawn, and will not be printed at branch terminals or at CIBC bank machines, nor made available through CIBC Telephone or Online Banking until two business days after the end of the calendar month. Interest rates quoted are annual and are subject to change without prior notice and are on display at any branch. For the purposes of calculating bonus interest, a deposit made on the first business day of the calendar month is credited as if it were actually made on the first day of the calendar month (if earlier).
+ Withdrawal charges may apply.
± Debits include any debits to your account initiated by you including, without limitation, cheques, withdrawals, pre-authorized payments, bill payments, INTERAC Direct Payments and transfers between accounts.
TM Trademark of CIBC.
® Registered trademark of CIBC.
* INTERAC is a trademark of Interac Inc., CIBC is an authorized user of the trademark.
1 If there is no account activity, a statement may not be produced.
2 Transactions include deposits, cheques, withdrawals and all other debits and credits to your account that were initiated by you including, without limitation, pre-authorized payments, bill payments, INTERAC Direct Payments, direct deposits and transfers between accounts where applicable. Additional "Items Deposited" charges, where applicable, may apply. Refer to Canadian Dollar Accounts for details. Additional "Currency Supplied" charges, where applicable, may apply. Refer to Additional Services and Charges for details.
3 Free transaction(s) cannot be carried forward for use in subsequent months.
4 Monthly fee applies even if there is no account activity. Other fees may apply to the operation of your account; see Additional Services and Charges for details.
5 If you choose a Flat Fee Package and perform fewer than the allowed number of transactions in a month, the unused transactions cannot be carried forward to subsequent months.
6 Cost of wallets is extra.
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