1 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.
2 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.
3 Bank foreign ATM fees and fees at non-proprietary ATMs (ATMs not owned by CIBC Bank USA) charged to your account are reimbursed up to $25 for myChoice Plus account holders and up to $50 for iCan Checking and myChoice Prestige account holders, after the fee is charged.
4 The minimum account balance to open the account, without a bonus, is $50. To qualify for the $200 bonus, you must open the account with a minimum balance of $500 and meet the following account requirements within 90 days of opening the account:
- (1) One direct deposit or ACH transaction must post to the account, excluding electronic bill payments made through CIBC US Digital Banking and;
- (2) Elect to receive eStatements through CIBC US Digital Banking.
The bonus will be credited to the account by the Payment Date. The “Payment Date” is 100 days after account opening. The account must remain open on the Payment Date 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 accounts. Only one CIBC iCan or CIBC myChoice Checking account bonus is permitted per person regardless of the number of accounts that are opened. The offer is subject to change and may be withdrawn at any time without notice. Accounts converted from other types of checking accounts and checking accounts opened online are ineligible for this bonus.
The myChoice Plus and myChoice Prestige are variable rate accounts. At our discretion, we may change the interest rate and Annual Percent Yield (APY) at any time without notice after the account is opened. The APY is 0.05% on the myChoice Plus account and the APY on the myChoice Prestige is 0.10%. A minimum balance of $0.01 is required to obtain the annual percentage yield (APY) for the myChoice Plus account and a minimum balance of $10,000 is required to obtain the APY for the myChoice Prestige account. The APY is accurate as of December 19, 2022. Fees or withdrawals will reduce earnings.
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.
