1 To qualify for the $200 bonus, you must open the Account with a minimum balance of $50 and meet the following requirements within 120 days of opening the Account (the “Qualifying Period”):
- Make qualifying direct deposit(s) totaling $500 or more each month into your Account for three (3) consecutive calendar months after the calendar month your Account was opened. A qualifying direct deposit is defined as any payment made by a government agency, employer, or other third-party organization that is made via an electronic deposit. Transfers made from one Account to another, mobile deposits, Zelle®, external transfers from another financial institution or deposits made at a branch or ATM are not considered a qualifying direct deposit; and
- Elect to receive electronic statements through CIBC US Digital Banking during the Qualifying Period
If these conditions are met, the $200 bonus will be credited to your Account within 30 days after the end of the Qualifying Period. The Account must remain open on the date we credit the bonus to your Account in order to receive the bonus. Bonus is considered interest for income tax purposes and will be reported to the IRS. Any applicable taxes associated with the bonus are the responsibility of the Account holder. Consult your tax adviser regarding specific tax considerations for your Account. Only one consumer checking account bonus is permitted per person regardless of the number of Accounts that are opened at CIBC Bank USA.
This offer is subject to change and may be withdrawn at any time without notice. Accounts converted from other types of checking accounts at CIBC Bank USA are ineligible for this bonus.
2 A dormant account fee of $5.00 per month, maximum $60 annually, may be charged if there has been no customer contact or transaction activity on your checking account for 24 months. For a complete listing of fees, please refer to the Fee Schedule for Consumer Accounts.
3 You must be enrolled in CIBC US Digital Banking and have a supported mobile banking device to use CIBC US Mobile Banking and the Mobile Banking mobile deposit feature. For further information, refer to the CIBC Bank USA Digital Services Agreement Opens a new window.. Message and data rates may apply. Contact your wireless carrier for details.
4 Non-CIBC ATM fees charged to your account are reimbursed up to $50 for iCan Checking and myChoice Prestige Checking Account holders, after the fee is charged.
5 Qualified Debit Card Purchases are PIN or signature-based point-of-sale (POS) transactions that post to your iCan Checking account during the Statement Cycle. ATM withdrawals, POS cash-back transactions, and POS cash advance transactions are not Qualified Debit Card Purchases. If any portion of a transaction is a POS cash-back or POS cash advance transaction, the entire transaction is not a Qualified Debit Card Purchase.
6 Transactions include ATM or pre-authorized withdrawals, Zelle® payments, online payments or transfers including recurring or scheduled internal or external account transfers or payments through Bill Pay, mobile remote deposit, debit card point of sale purchases and teller assisted transactions.
Zelle® is owned by Early Warning Services, LLC and is used herein under license.
7 There may be times when a negative balance in the account can occur, such as if a transaction is authorized for one amount but the actual charge is more than the money in the account.
