Special offer

Pay no monthly fee for 2 years^‡

Plus, get a $400 Costco Shop Card^† when you open your first CIBC Smart™ Account for Newcomers and complete the qualifying actions.

Open an account

Begin your life in Canada with the account that’s right for you

Pay no monthly fee for 2 years.^†

That means you save around $400 in fees over the 2 years.

Plus, enjoy:

• Unlimited transactions¹

• Free unlimited Interac e-Transfer® transactions²

Monthly fee after your second year

$0³ up to $16.95

Daily balance to pay no monthly fee³

$4,000

Plus, get a $400 reward^†

Provide your email address when you open a CIBC Smart Account for Newcomers, then within 2 months:

Set up ongoing monthly direct deposits totalling $500 or more. Learn about direct deposits. Opens in a dialog.

And complete one of these 3 transactions within the same calendar month:

2 ongoing pre-authorized debits Learn about pre-authorized debits. Opens in a dialog.
2 online bill payments of $50 or more each
5 online Visa* Debit purchases Learn about Visa Debit purchases. Opens in a dialog.

Congrats!

Your $400 Costco Shop Card will be mailed to you.

Shop at Costco for electronics, computers, furniture, outdoor living, appliances, jewelry and more!

Not a member? Not a problem – you can still use your Costco Shop Card to spend at your local warehouse. More information about Costco Shop Cards for non-members. Opens in a dialog.

Conditions apply.^†

Under 25?

Get no-fee everyday banking with CIBC Smart™ Start and earn $100.

Learn more about CIBC Smart Start

Why wait? Apply from your device in minutes.

Scan your ID and take a selfie.

Open your account.

You’ll receive your card in 7 to 10 business days.

Partner deals that will save you money

By opening a CIBC Smart Account for Newcomers, you get access to exclusive offers.

Koodo Phone Plan

CIBC Newcomer clients will receive an exclusive offer from Koodo to save money on their mobility plan, including free international long-distance minutes.

Canoo

CIBC and Canoo want to help Newcomers discover the best of Canada for free. The Canoo Cultural Pass provides newcomers with VIP access to over 1,400 of our country’s most exciting cultural and outdoor experiences.

Learn more about Canoo. Opens in a new window.

Refer a newcomer friend and you could both earn $50

Help friends new to Canada get a great start. Once you’ve opened an eligible account, you can refer up to 10 newcomer friends and earn $500 every year.^◇

Learn more

Get a CIBC Smart™ Account for Newcomers

Open an account

^‡ The CIBC Smart™ Account for Newcomers is offered to those who have received landed immigrant or permanent resident status in the last 5 years, or those who are temporary resident workers who have a Canadian work permit issued for at least a 12-month term. Must show proof of entry into Canada and provide supporting documents such as landing papers, permanent resident card or Canadian work permit (IMM 1442). Monthly account fee is rebated for two years after which regular monthly account fees apply without notice.

^† Reward offer begins on March 11, 2024, at 12:01 am ET. Offer available to Canadian residents who are age 25 and older for a CIBC Smart Account or have reached the age of majority for a CIBC Smart Plus Account, and from 2019 to the time of opening the account are not holders or joint holders of a CIBC chequing account, all as determined by CIBC in its sole discretion. To qualify for the $400 Costco Shop Card offer, open a CIBC Smart Account or CIBC Smart Plus Account and provide your email address. Within 2 months after the month of opening the account, complete at least 1 or more recurring direct deposits totaling at least $500 per month from your employer, government or your pension and 1 of the following 3 activities: (i) 2 different recurring pre-authorized debits within the same calendar month; (ii) 5 eligible Visa* Debit purchases within the same calendar month; or (iii) 2 online bill payments of at least $50 each within the same calendar month. The direct deposit and the pre-authorized debit must remain in effect for at least 1 year from after the month of opening the account. Eligibility of transactions will be determined by CIBC in its sole discretion. Offer cannot be combined with any other offer, reward, rebate or the CIBC Smart Start or CIBC Smart for Students benefit on the CIBC Smart Account unless otherwise indicated by CIBC. If all offer requirements are met, a physical or digital Costco Shop Card (as selected by CIBC) will be mailed or emailed to you within 7 months after the month that you opened the account. Costco Shop Cards are issued by Costco Wholesale Canada Ltd. and are subject to the restrictions set out in Costco Shop Card terms and conditions available at Costco.ca Opens in a new window. and may be subject to change from time to time. For non-Costco members, Costco Shop Cards can only be used for purchases at a Costco warehouse in Canada or United States and not for online purchases. CIBC reserves the right to end, cancel, change, or suspend this Offer or change these terms at any time without notice. Other conditions apply; review the full terms and conditions (PDF, 140 KB) Opens in a new window..

^◇ Earn $50 each time a person you refer qualifies and receives their reward, up to $500 each year this offer is available (between January 1 to December 31), for the first 10 people you refer each year, that qualified and got their cash reward. For more details, review the terms and conditions (PDF, 100 KB) Opens in a new window..

¹ A transaction includes cheques, withdrawals, transfers, pre-authorized payments, bill payments (including CIBC Credit Cards and CIBC Personal Lines of Credit) and debit purchases. For CIBC eAdvantage Savings Accounts, a transaction does not include transfers to your other CIBC personal bank account(s) and to your CIBC Personal Line(s) of Credit (except Interac e-Transfer service which will be treated as a transaction) and transfers to your CIBC Credit Card account(s). For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free. “CIBC-branded” means any brand that has CIBC in its name. Other fees (in addition to any transaction fee) include: withdrawals from non-CIBC bank machines (for CIBC Smart Plus Accounts, the fee for all non-CIBC ATM withdrawals in Canada, the U.S. and internationally is rebated each month; for CIBC Smart Accounts and for clients enrolled in CIBC Smart Start or CIBC Smart for Students, the fee for 1 non-CIBC ATM withdrawal made in Canada is rebated each month), Interac e-Transfer® transactions (the Interac e-Transfer fee is waived for CIBC Smart Accounts, CIBC Smart Plus Accounts and for clients who are enrolled in CIBC Smart Start, CIBC Premium Growth Account with CIBC Advantage for Youth, CIBC Smart for Students, and CIBC Advantage for Students on the CIBC Everyday Chequing Account; clients 65 years of age and older do not pay the Interac e-Transfer fee on any CIBC chequing account) and foreign currency transactions (including cheques written in currencies other than the account currency).

² The additional $1.50 service fee is waived for sending Interac e-Transfer^® transactions. Each Interac e-Transfer^® transaction you send counts as a transaction for calculating your monthly fee. Maximum dollar amount applies for Interac e-Transfer^® transactions.

³ Entire monthly fee is rebated if you maintain a minimum end of day balance of $4,000 each day in this account. For details, review the CIBC Smart Account fee rebate terms and conditions, part of the Personal Account Service Fees (PDF, 210 KB) Opens in a new window..

Trademarks

Pay no monthly fee for 2 years‡

Begin your life in Canada with the account that’s right for you

Pay no monthly fee for 2 years.†

Plus, enjoy:

Congrats!

Under 25?

Why wait? Apply from your device in minutes.

Partner deals that will save you money

Koodo Phone Plan

Canoo

Refer a newcomer friend and you could both earn $50

Pay no monthly fee for 2 years^‡

Pay no monthly fee for 2 years.^†