Chequing account · CIBC
CIBC Everyday Chequing Account: fees and true cost
CIBC’s CIBC Everyday Chequing Account charges $4.00/mo, no balance waiver, with 18 a month transactions. For our “Everyday” example that comes to $447 a year, #28 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $78 | Monthly fee $4.00; extra transactions $2.50/mo | 9 of 33 |
| Everyday Household account, a few e-Transfers | $447 | Monthly fee $4.00; extra transactions $31.25/mo | 28 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $1,011 | Monthly fee $4.00; extra transactions $76.25/mo | 30 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $138 | Monthly fee $4.00; extra transactions $7.50/mo | 2 of 26 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $4.00/mo, no balance waiver |
| Included transactions | 18 a month |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | $1.25 |
| Online transfer between your accounts | $1.25 |
| Own-bank ATM withdrawal | $1.25 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | $1.25 |
| In-branch withdrawal | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | $5.00 |
| Overdraft interest | 21% a year |
Notes from the institution
The Everyday Chequing Account is offered in accordance with the Commitment on Low-Cost and No-Cost Accounts. Your advisor can help you identify which CIBC bank account is most suitable for your day-to-day banking needs. Financial tools and calculators are also available within the Money and Finances section of the Government of Canada website.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| CIBC Smart for Seniors, age 65 and older, automatic ($4.00 monthly fee discount | No monthly fee | CIBC |
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- Neo Chequing account (Essentials) (Neo Financial) — $0 a year
Other chequing accounts at CIBC
- CIBC Smart Account — $0.00–$16.95/mo, or $0 with a $4,000 minimum balance
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · CIBC’s product page
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