This is a sponsored post written by me on behalf of CIBC. All opinions are 100% mine.

A few months back when I was reviewing my monthly statements, I saw a charge on one of my accounts for $14. As someone who absolutely hates paying fees, I had to know what I was being charged for. Turns out I had made more transactions than I was allowed and was charged accordingly.

This was admittedly my own fault, but it still drives me nuts to pay more than I have to. $14 may not sound like a lot, but if you’re type of person that constantly goes over their limit, those charges can quickly add up.

It’s a bit silly when you think about it. It’s not like I get a credit when I go below my transaction limit, but as soon as I go over, I’m charged extra. Fortunately, with the new CIBC Smart Account, customers who bank less will pay lower fees.

CIBC Smart Account features

  • Monthly fee starts at $4.95 and caps at $14.95
  • Unlimited Interac e-Transfers
  • Monthly fee waived entirely by maintaining a minimum daily balance of $3,000 and a recurring direct deposit or two pre-authorized payments each month
  • Optional alerts for account activity

I don’t think I’m the only one out there who hates paying fees so having your monthly fees based on your usage is a huge advantage. At $4.95 a month, you’ll get up to 12 transactions (including e-transfers). If you require additional transactions, you’ll be charged $1.25 each, but it gets capped at $14.95. If you maintain a balance of at least $3,000 (and you make a recurring direct deposit or two pre-authorized payments each month), you can have the monthly fee waived completely.

Having unlimited Interac e-Transfers is also a huge benefit in my opinion. It’s the easiest, fastest, and most secure way to send money. With e-transfers, you can instantly send friends, family, or yourself money that will arrive by e-mail in 30-60 minutes. In the past, the main knock against this service was the fact that you had to pay a fee of $1.50 each time, now you don’t need to worry about those extra charges.

The new CIBC Smart Account is clearly built on customer satisfaction and flexibility. Our daily banking needs are changing so it’s nice to see that banks are changing their products to reflect what clients have been asking for.

Earn $300 when you open a new account

Until June 30, 2016, new customers who open a CIBC Smart Account can get a $300 bonus as long as they set up one eligible recurring direct deposit or at least two different recurring pre-authorized debits within the same calendar month. This must be completed before 3 full calendar months after the month you signup.

You are required to keep the account open for one calendar year, but the bonus can be withdrawn at any time. That means you’ll get a free $240.60 (after factoring in a minimum monthly fee of $4.95 X 12 months) or $300 if you maintain the $3000 minimum monthly balance.

With a generous signup bonus, unlimited transactions for a fixed monthly fee (which can be waived), and unlimited e-transfers; it’s a great time to try the new CIBC Smart Account. Sign up for your account now via the CIBC app, there’s no need to go to a branch.


  1. Rosalinda Pescante on August 8, 2017 at 2:40 am

    Is this a checking account?

    • Barry Choi on August 8, 2017 at 11:15 am

      Hi Rosalinda,

      Yes, this is a chequing account.

  2. Tina Clunies-Ross on August 13, 2018 at 5:23 am

    My name is Tina Clunies-Ross. I’ve been a loyal customer of CIBC’s since I was 15yrs old.

  3. Tina Clunies-Ross on August 13, 2018 at 5:27 am

    Wow really? How on earth could anyone find this a fantastic deal. I’ve had a SMART ACCOUNT since July of 2015. Some of my transaction and service fees have ranged anywhere from 280.00$ per month to 101.00$ per month. What A Joke I would love for ANYoNe to show me exactly where I’ve gone wrong with My Fancy little account called SMArt

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