A checking account designed for the special needs of nonprofit organizations with low transaction volumes. Opens a new window in your browser. Exception also applies to the CIBC Business Interest Account. Exactly like the CIBC Smart Account, this plan has a sliding monthly account fee of $4.95 per month for the first 12 transactions, then up to a maximum of $14.95 for unlimited transactions. endstream
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Some ATMs may levy additional surcharges. The terms and conditions go on to say our fee is non-refundable. Incoming collections from other financial institutions will be subject to a charge by CIBC, which may be passed on by the financial institution to their customer. This service is only available to clients with a CIBC U.S. Dollar Current Account. Pay no monthly fee4 on the CIBC Everyday Business Operating Account. Analysis Business Checking Account | CIBC US Accessibility Quick Links Changes to certain bank account fees and services effective July 1, 2021 (PDF, 60 KB) Opens in a new window. Whether you want your money to grow or you use your account for day-to-day transactions we have an account for you. Cheques deposited will be credited subject to final payment. The full CIBC website is available in English and French. You are advised to Yes, unless minimum balance and transaction requirements are met. However, any fees which have already been paid or deducted from your account during the month (money orders, for example) will not be refunded upon conversion. Debits include, without limitation, withdrawals, cheques, pre-authorized payments, bill payments, Interac Direct Payments, Interac e-Transfer payments, direct deposits and transfers to other accounts. Opens a new window in your browser. Outside Canada and the U.S. (Plus or Visa Network): You're charged the same foreign exchange conversion rate CIBC is required to pay, plus an administration fee of, When requested by a payor (cheque issuer), When requested by a payee (cheque recipient). For foreign currency transfers, including U.S. accounts, the corresponding fees are calculated in the same currency as the account that uses an exchange rate set by CIBC on a date set by CIBC. Business accounts become dormant, or inactive, when there's been no customer-initiated activity for 6 months except for the CIBC Business Investment Growth Account, which is considered dormant (inactive) if no transactions have been initiated for a 12-month period. U.S. dollar coins deposited or exchanged will be treated as if they are Canadian dollar coins. For other currencies, the Canadian equivalent fee will be converted to the same currency as the incoming payment using an exchange rate set by CIBC on a date determined by CIBC and deducted from the incoming payment amount. Outgoing wire payments initiated at a CIBC Banking Centre. How to Open a CIBC Business Account 1 CIBC Business Operating Accounts 2 CIBC Business Savings Account 5 Foreign Currency Operating Accounts 6 Additional Services and Charges 7 Everyday Transactions 7 Cheque Transactions 9 Business Services 10 Other Services 12 Business Overdraft 15 CIBC Discretionary Business Overdraft 16 Accounts No Longer Offered 17 Effective September 27, 2018. Drawn in U.S. currency or other foreign currency $25. Designed for business customers who deposit large amounts of cash, coin or cheques and, or, have business needs, which may include banking outside regular banking hours. CIBC Investors Edge Account Agreements and Disclosure Booklet (PDF,