CIBC's MyChoice Checking is an interest-bearing checking account that pays 0.15 percent APY. The account can be opened with a $50 deposit. The interest comes in tiered rates with the best offer on balances of $50,000 or more. It takes at least $5,500 to avoid the $15 monthly account maintenance fee. Balances of at least $10,000 get an interest rate bonus on related deposit accounts.
The other option from CIBC is the iCan Checking. It does not earn interest but can be opened with $50 and comes with a lower monthly account maintenance fee of $9. Those who hold at least $1,000 in the checking account or another related deposit accounts offered by CIBC Bank USA can waive the fee.
Checking accounts must be opened at a CIBC branch. (Update 8/21/20: CIBC now offers online checking account applications in select states/counties.)
Customers have access to 30 CIBC-branded ATMs and can earn up to $50 per month in ATM fee refunds, depending on account type. The bank charges a $3 fee for out-of-network ATM withdrawals.
Customers can earn up to $50 per month in ATM refunds.
The $50 minimum to open the account is low.
There's an interest rate bonus on related deposit accounts for those with at least $10,000.