CIBC Bank USA Review 2023
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At a glance

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Savings
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About Bankrate Score
Overview
CIBC Bank USA may be ideal for consumers interested in a high-yield savings account and comfortable with online banking. But the bank doesn’t have many ATMs in the U.S., and charges hefty fees, including out-of-network ATM fees (although it offers rebates). If you aren’t near a branch or a CIBC ATM, it may not be the best choice.
Highlights
- ATM Fee Refunds
- No Monthly Fees
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Overall
CIBC Bank USA offers a range of personal banking products and a high-yield savings account. While it does have 23 branch locations, mostly in the Midwestern U.S., it’s mainly known for online banking.
Pros
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The bank offers a range of personal banking products.
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The Agility Online Savings Account offers a competitive yield with no monthly maintenance fee.
Cons
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Some online account applications are available only in certain counties in six states.
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CIBC charges multiple fees, including overdraft, non-sufficient funds and out-of-network ATM fees.
CIBC Bank USA banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 12/5/2023
CIBC Bank USA savings overview
The account can only be accessed online and doesn’t permit deposits or withdrawals to be made using an ATM.
Pros
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CIBC Agility Online Savings Account earns a top-tier yield.
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You don’t need to maintain the minimum opening deposit to earn the APY.
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The account doesn’t charge a maintenance fee.
Cons
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ATM access isn’t available for the CIBC Agility account.
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Withdrawals using an external transfer aren’t permitted during the first 30 days after opening an account.
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There is a minimum $1,000 opening deposit requirement.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
CIBC Bank USAAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | $5 plus interest |
Non-sufficient funds fee | $45 |
Monthly maintenance fee | $0 |
Out-of-network ATM fee | $3 plus a 2.5% administration fee |
Excessive transaction fee | $10 |
Customer experience
Customer support
24/7 support. Customers can get help with their accounts by phone 24 hours a day. They can also reach out through email.
Account bonuses
Earn a $350 bonus. Customers can earn a $350 bonus when opening a new CIBC Smart Account through Oct. 16, 2023. To qualify for the bonus, you must open the account with ongoing direct deposits totalling $500 or more. Moreover, you must meet one of these criteria within the same calendar month: make two ongoing pre-authorized debits, make two online bill payments of $50 or more or make five Visa debit transitions.
Digital experience
Mixed mobile app reviews. CIBC’s mobile app is well-rated on the Apple App Store, with more than 17,000 user ratings. The app receives just OK reviews on the Google Play Store, where more than 30,000 users have reviewed it. The app allows users to accomplish basic tasks, including viewing account balances, making peer-to-peer payments with People Pay and depositing checks. The CIBC app also allows users to add a card to their mobile wallets to make purchases with Apple Pay.
Lack of budgeting features. CIBC doesn’t offer helpful extra features like budgeting tools or the ability to view your credit score, and there aren’t charts or graphs that show a snapshot of your saving and spending over time. (Many other banks offer these tools.)
Bankrate staff insights
“The Agility Savings annual percentage yield is top notch,” said a Bankrate staff member who uses the account personally. “The app and website are very simple, but in this day and age I’m expecting an app that provides more features that are helpful in managing my money.”
About CIBC Bank USA
CIBC Bank USA was formed by Toronto-based CIBC’s acquisition of Chicago-based PrivateBancorp in 2017.
CIBC Bank USA offers checking accounts, savings accounts, mortgages and personal loans. The bulk of its bank branches are in northeastern Illinois, but CIBC Bank USA also has one branch each in St. Louis, Milwaukee and suburban Detroit. All locations except Michigan feature ATMs.
How does CIBC Bank compare to other banks?
CIBC Bank vs. PNC Bank
If you’re looking for in-person banking, you’ll find more options with PNC, which offers access to more than 2,400 branches in 29 states. CIBC, on the other hand, only maintains around 24 branches in six states (mostly in the Midwest).
Likewise, CIBC only offers around 22 ATMs in the U.S. and doesn’t belong to an ATM network, while PNC offers a much larger footprint of fee-free ATMs, since it belongs to the Allpoint network of more than 41,000 ATMs.
Both CIBC Bank and PNC Bank offer some accounts that can be opened online.
When it comes to its savings accounts, PNC offers a competitive rate on its Standard Savings account in some states, whereas customers who live outside of those states earn significantly lower rates. CIBC’s Agility Online Savings Account earns a highly competitive rate across the board, regardless of where customers reside.
CIBC Bank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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