Originally based in Canada, CIBC Bank USA also serves North American institutions and offers a variety of account options to choose from. To find out if CIBC Bank USA is right for you, continue reading the review below.
CIBC Bank USA strives to build strong relationships with their customers and provide the best service that they have to offer. Their Agility Savings account is a customer’s favorite that earns relatively high interest.
Another generous account they offer is EasyPath Access for those who find keeping up with their account statements a hassle.
Checking Account Options
CIBC offers several checking accounts that comes with some pretty decent benefits. All their checking accounts can be accessed online or at a physical branch.
This is CIBC’s basic checking account. You will need a minimum deposit of $50 to open, but afterwards there are no monthly fees to maintain.
A basic checking account with no minimum balance requirement for your everyday banking activity.
This account doesn’t earn interest however.
Some perks that come with this account are:
- 1% monthly cash back earned on debit card purchases
- Access to free online and mobile banking
- Up to $50 per month in ATM refunds
- You’ll receive your first order of checks for free
This is an interest-bearing checking account that requires no monthly fees nor minimum balance requirements.
You need a minimum deposit of $50 in order to open it.
Some perks that come with this account are:
- Free online and mobile banking
- Up to $25 per month in ATM refunds
This is a premium checking account that allows you to earn interest if you have a higher balance.
You need a minimum deposit of $50 to open it.
If you maintain a minimum balance of $10,000, you will start earning interest.
Some perks that come with this account are:
- Earns tiered interest rate based on balance
- Up to $50 per month in ATM refunds
This checking account is specifically designed to help customers avoid overdraft fees.
If you are someone who rarely checks their bank account, then this option may suit you.
With this account, CIBC Bank USA stops transactions being made to avoid the account from being overdrawn.
This account is non-interest bearing to compensate for the overdraft protection service that is built in.
Some perks that come with this account are:
- No overdrafts or overdraft fees
- No minimum opening deposit to open
- Insufficient funds to complete a transaction will result in the transaction being canceled
- No minimum balance requirements
- Access your money by using your debit/ATM card, online or mobile banking or by visiting a branch location
EasyPath Access also comes with other options. You can learn more about them here.
Compare Checking Accounts
 • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit • Access to more than 15,000 Chase ATMs and more than 4,700 branches • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device. • JPMorgan Chase Bank, N.A. Member FDIC • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. • Chase Overdraft AssistSM – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
Savings Account Options
CIBC Bank USA has a decent variety of savings accounts and they can earn pretty competitive interest rates depending on your account balance.
This is CIBC Bank USA’s standard savings account. You will need a minimum deposit of $50 to open, but afterwards there are no monthly fees to maintain.
This account does earn interest if your account balance is anywhere from $10,000, $25,000 or $50,000.
Some perks that come with this account are:
- Unlimited number of withdrawals made in person or at an ATM
- Up to six pre-authorized, automatic, or telephone transfers or debit card transactions permitted per month
- Minimum balance requirement and monthly maintenance fees are waived for account owners under the age of 18
- Convenient account access
- No checking account required
This account is best recommended for those who have a higher balance and want to earn competitive interest rates. However, this account is only available online.
You will need a $1,000 minimum deposit in order to open it, but there are no monthly fees afterwards.
You can learn more about Agility Savings here.
Compare Savings Accounts
 With the American Express® High Yield Savings Account: • Earn 4.30% APY as of 9/27/23 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • 24/7 Account Access |
 With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured |
 Open a Discover Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code HMB923 by 12/14/2023 • Earn high interest rate of 4.30% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB923 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. |
 • Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account • No minimum balance requirements • Free ATM card upon request • $250 minimum opening deposit • Free Incoming Wires |
Money Market Account Options
Money Market accounts allow for a higher yield and gives access to your funds with either checks or a bankcard. CIBC Bank USA has one money market that earns a pretty high APY.
CIBC Bank USA Money Market:
- Open this account with $50
- There is a $15 monthly fee, but you can waive it by having a daily minimum balance of $2,500.
- Earns tiered interest rates based on balance amount
- Interest rates are compounded and credited each month
- No checking account required
- No minimum withdrawal amount
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market • FDIC Insured • Check writing privileges • No monthly maintenance fees • No minimum balance requirements • Debit card transactions • Minimum Balance Required to Open the Account: $ 1000.00 |
 • Get started and open a Discover Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 4.25% APY balances $100,000 and over • Earn 4.20% APY balances under $100,000 • Open with as little as $2,500. • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily. • Earn 1.55% APY on your funds • One of the nation's top rates — several times the national average. • Get up to 6 digital transfers/withdrawals per statement cycle • Save smart and get more for your money • Higher rates than traditional banks • Get 24/7 Account Access • Secure banking features • Open with as little as $100 • FDIC insured |
CD Account Options
CBIC Bank USA offers two kinds of CDs that earn competitive interest rates. Their CDs range from 30 days to 5 years. Keep in mind that there is also penalty fee for early CD withdrawals.
This CD earns a fixed interest rate and will renew upon maturity.
You will need $1,000 to open it, but there are no monthly fees.
You have to maintain a daily balance of $1,000 in order to continuously earn interest.
This Jumbo CD is for those who have a lot of money to invest in, and you will need a minimum deposit of $10,000 to open it.
This CD also earns a fixed interest rate and renews upon maturity.
If you maintain a daily balance of $100,000 or more, you can significantly earn higher and higher interest.
Compare CD Accounts
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 5.00% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Start today with a minimum deposit of $2,500! • Get started and open a Discover CD in 3 easy steps. |
 • Available online nationwide • Earn up to 5.00% APY • $1,000 minimum to open • Selection of terms to meet your needs • A range of choices. Low minimum deposits. • No fees to open or maintain the account • Available as Custodial • Open a CIT Bank Certificate of Deposit Account today! |
With the CIT Bank No-Penalty 11-Month CD: • Earn 4.90% APY on your funds with just a $1,000 minimum deposit. • The perfect balance between a great fixed rate and flexible money access. • Access funds, if needed. No penalty. • No opening or maintenance fees • Shorter 11-month timeframe and a great APY • If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them. |
Reasons to Bank with CIBC Bank USA
- CIBC Bank USA offers an EasyPath checking account which functions similarly as opportunity checking. The difference is this account comes with even more benefits and options than a regular second chance account would.
- They offer competitive interest rates especially when you apply for an Agility Savings account. Get the most out of your savings by opening an online savings account.
- The minimum opening deposits for most of their accounts aren’t too costly and comes with notable benefits.
- You can bank online or on CIBC Bank’s mobile app conveniently since there aren’t too many physical branches available.
Reasons Not to Bank with CIBC Bank USA
- They are only available in 4 states: Illinois, Minnesota, Missouri, and Wisconsin, so if you don’t live in one of those states, you cannot do your banking in person.
- High minimum balance requirements to compensate for high interest rates.
- CIBC Bank’s CDs have higher opening deposits than some banks that can offer higher APY.
CIBC Bank USA Routing Number
The routing number for CIBC Bank USA is 071006486.
Contact Customer Service
For general customer service, you can call 877-448-6500. For all other inquiries, check CIBC Bank’s website for the associated phone number.
How CIBC Bank USA Compares
- Chase Bank: Chase is one of the biggest banks in the U.S and offers just about almost everything. Compared to its other competitors, Chase offers much more checking account options.
- Discover Bank: Discover Bank is an online nationwide bank that offers bonuses for their checking and savings accounts! You can earn cash back rewards when you open a checking account and generous bonuses for opening a savings one.
- Wells Fargo: Located throughout the US with over 5,800 branches and 13,000 ATMs. They offer a variety of deposits accounts, including accounts for teens and customers who need a second chance.
- Huntington Bank: Huntington Bank has various account options and offers checking bonuses, overdraft protection, free mobile banking, online bill pay, access to over 800 branches and 1,800 ATMs, and much more.
Bottom Line
If you prefer going for local, smaller banks to conduct your banking and there is a CIBC Bank near where you live, then consider banking with them.
They value their customers’ worth by offering opportunity checking and set the bar higher than average for those who want to earn competitive interest rates online.
However, keep in mind that when you look for a checking or savings account be sure to look into all the fees charged. Don’t focus on the interest rate alone, but on what the account will cost you overall.
If you’re interested in banking with CIBC Bank USA, see our list of the latest CIBC Bank USA Bonuses! For more options from a variety of banks, see our list of the best bank promotions!
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