The following information applies to the CIBC Agility Savings Account (“Account” or “Accounts”) at CIBC Bank USA. Please also refer to the Consumer Deposit Account Agreement and Fee Schedule provided to you electronically when you open your Account for information about other fees, charges and terms and conditions of your Accounts.
- To be eligible for an account, all applicants must have a current U.S. home address (except for those residing in the U.S. Territories), a U.S. Social Security Number, and a valid U.S. driver’s license or state identification card number, and be 18 years of age or older.
- Accounts must be owned in the name of one or more natural people, either individually or as a joint tenancy (two owners) with right of survivorship. Accounts can be established as Payable-On-Death (POD) Accounts after the account has been opened. To add POD beneficiaries, complete the Beneficiary Designation for a Payable-on-Death Account form (PDF, 83 KB) Opens in a new window.. If you’re a POD beneficiary and need to claim your funds after the death of all account owners, complete the POD Beneficiary Claim Form (PDF, 275 KB) Opens in a new window.. To have either of these forms sent to you, call us at 844-704-7882 Opens your phone app..
- Accounts cannot be owned by a trust, or established as a fiduciary or custodial Account. Authorized signers cannot be designated for these Accounts except due to death or incompetency of an Account holder or as otherwise required by law.
- No changes in Account ownership are permitted after the Account is opened except due to death or incompetency of an Account holder or as otherwise required by law.
The initial deposit to the Account needs to be at least $1,000.00 and may not exceed $250,000.00. The initial deposit to the Account must be made by either:
(i) An internal transfer from an existing deposit Account at CIBC Bank USA in which an Account holder is the primary or joint Account holder;
(ii) An ACH debit to an account at another bank; or
(iii) Mailing a Cashier’s Check or personal check to the Bank. Checks must be made payable directly to the Account holder or CIBC Bank USA. Third-party checks, starter checks, foreign checks and temporary checks won’t be accepted.
If a deposit is made by check, the funds will be subject to a 10-business-day hold.
If we don’t receive your initial deposit within 30 days after your Account has been established, we’ll close your Account.
Additional deposits may be made at any time. For accounts opened on or after September 28, 2022, deposits that would bring the total balance in your Account to more than $500,000 are not permitted. We reserve the right to refuse or return additional deposits that would cause your balance to exceed this $500,000 limit. For accounts opened before September 28, 2022, balances up to $1,000,000 are permitted, provided your balance does not fall below $500,000 at any time. If your account balance drops below $500,000 at any time, we reserve the right to refuse or return additional deposits that would cause your balance to exceed $500,000. Business days and effective dates of deposit are defined in the Consumer Deposit Account Agreement.
The CIBC US Routing Number is 071006486. You’ll need our routing number to make transfers between your Agility Account and an external account that you hold at another US financial institution.
Withdrawals from the Account can be made by: (i) Sending us a message through the “Contact Us” option in CIBC NetBanking; (ii) calling the CIBC Bank USA Digital Service Team at 844-704-7882 Opens your phone app.; (iii) submitting a written request to CIBC c/o CIBC Agility Savings Account Department, 6825 West 111th St. Worth, Illinois 60482; or (iv) making an electronic transfer through CIBC NetBanking to an account that you have.
Checks will be made payable to all holders of the account and mailed to the address of record for the account. Internal transfers can be made to an existing account at CIBC in which the account holders have a primary or secondary ownership interest. External transfers to an account that you own at another US financial institution are not allowed via CIBC NetBanking for the first 30 days after opening the account.
Requests to close out an Account within the first 90 days from the date the Account was opened will only be completed by returning the funds by the method in which they were received:
- Funds in an Account funded by ACH transfers will be returned by ACH transfer to the originating account.
- Funds in an Account funded by checks will be returned by a check payable to the account holder(s) as titled on the Account and to the address of record.
- Funds in an Account funded by an internal transfer will be returned by internal transfer back to the originating account.
- We may take up to 72 hours to process a withdrawal request.
This is a variable rate Account. Your interest rate and annual percentage yield may change at any time.
Minimum balance requirement: You must deposit at least $1,000.00 to open this Account.