Agility Savings Cash Bonus Promotion Terms and Conditions

Digital Banking is proposing an Agility Savings Cash Bonus Promotion. The below describes the finalized terms and conditions language that were agreed upon and reviewed by 1st Line Governance and Controls, Legal and 2nd Line of Defense Compliance (Advisory).

Eligibility and Promotional Language

The following are details for how to earn the bonus on your Agility Savings account which offers a 1.27% Annual Percent Yield (“APY”)1:

In order to qualify for an account bonus, you must increase the current balance in your CIBC Agility Savings account by depositing funds of $25,000 or more of New Money (defined below) from an external bank between 12:00 am ET on August 15, 2022 and 11:59 pm ET on September 13, 2022 (the “Funding Period”). The New Money must remain in your account until 11:59 pm on December 12, 2022. This offer applies to both new and existing accounts. If you are funding by ACH (Automated Clearing House) transfer, keep in mind timeframes for applicable verification and for transfer origination that may take 1 to 3 business days before credited to your Agility Savings account.

New Money means funds deposited in an amount at least equal to $25,000 into your CIBC Agility Savings account from an external source. Internal deposit transfers between CIBC Bank USA accounts will not qualify.

Any portion of New Money deposited to your CIBC Agility Savings account deposited during the Funding Period that is withdrawn and redeposited back into that account before December 12, 2022 may also not qualify. 

Total Deposit Limit: The promotion is available if your CIBC Agility Savings account deposit balance is less than or equal to $500,000 inclusive of the New Money deposit. Deposits that would bring the total balance in your CIBC Agility Savings account to more than $500,000 will not qualify for the promotion.

The amount of your bonus will be determined as follows:

  • $200 bonus – The New Money you deposited from an external bank during the Funding Period was between $25,000 and $49,999.99 (Tier 1), and you maintained at least $25,000 in New Money until 11:59 pm ET on December 12, 2022. 
  • $400 bonus – The New Money you deposited from an external bank during the Funding Period was $50,000 or more (Tier 2), and you maintained at least $50,000 in New Money deposited in the account until 11:59 pm ET on December 12, 2022.

If the balance of New Money you deposited drops to below $50,000 at any point through December 12, 2022, you’ll earn the Tier 1 bonus.
If the balance of New Money you deposited drops below $25,000 at any point through December 12, 2022, you will not qualify for a bonus. If you make additional deposits after September 13, 2022 to reach the Tier 2, you’ll only be eligible for the Tier 1 bonus.

If you are not already enrolled in e-Statements, you must enrol in Online Banking and change the Statements Delivery Method to “Online” during the Funding Period by 11:59 p.m. ET on September 13, 2022. You must continue online statement delivery through December 12, 2022.

Bonus Payouts Timing

If you fulfill the offer requirements outlined above, CIBC Bank USA will deposit the bonus into your CIBC Agility Savings account no later than February 8, 2023. In order to receive the bonus your account must be open and not overdrawn at the time of the bonus payout. Only one bonus allowed per primary account owner Tax ID.

1 The APY is accurate as of June 30, 2022. This is a variable rate account and the interest rate and APY can change at any time. The minimum opening deposit is $1,000 but cannot exceed $250,000. The minimum balance to obtain the APY is $0.01. Fees and withdrawals will reduce earnings. The account is subject to approval. This offer is subject to change at any time and CIBC Bank USA reserves the right to discontinue or modify this promotion at any time without notice. Bonus is considered interest for income tax purposes and will be reported to the IRS. Consult your tax advisor regarding specific tax considerations for your accounts.