Update 2/22/24: CIBC now has branches in CA (SF) and FL (Palm Beach). Hat tip to RM
Update 5/15/23: Deal is back. Hat tip to TOm
Offer at a glance
- Maximum bonus amount: $200
- Availability: In branch only, branches are in IL, MI, MO & WI [Branch locations]
- Direct deposit required: Direct deposit or ACH automated debit transaction
- Additional requirements: eStatements
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: None
- Early account termination fee:
- Household limit: None listed
- Expiration date: December 31st, 2019
The Offer
- CIBC is offering a $200 checking bonus when you open a new iCan or MyChoice account in branch when you meet the following requirements:
- Open account with a minimum of $500+
- Receive at least one direct deposit or ACH automated debit transaction
- Elect to receive electronic statements
The Fine Print
- Bonus will post within 100 days of account opening if requirements are met
- The account must remain open on the payment date to receive the bonus
- Only one bonus per person is allowed
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Looks like all the checking accounts are now fee free.
Early Account Termination Fee
There is a $25 early account termination fee if the account is closed within 90 days.
Our Verdict
We’ve previously posted another CIBC US deal for $300 that could be opened online but was only available to certain employer groupers. Some people were to sign up anyway and then their accounts were closed but CIBC did send them $150 check for the inconvenience. That’s always a good sign in terms of customer service in my opinion. This one should be open to anybody who can get to a branch, even if you live out of state. Definitely worth doing if you’re in the area as it seems like any ACH will trigger the direct deposit requirement. I’ve added it to the best bank bonus page.
Big thanks to reader, Jason who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
Post history:
- Update 8/4/19: Bonus is back for 2019.