CIBC CIBC: Get Up to $400 When You Open a New CIBC Smart Account Get Up to $400 with New CIBC Smart Accounts!

get this deal

Earn some extra spending money with CIBC, where you'll get up to a $400.00 bonus when you open a new CIBC Smart Account.

Simply enroll online, then complete the following steps within two months of opening your account to qualify for a $350.00 bonus:

  • Set up one ongoing direct deposit and maintain for at least one year
  • Set up one of the following – two ongoing pre-authorized debits; two Visa debits; or two online bill payments of $50.00 or more

You can also earn an additional $50.00 bonus by transferring $200.00 from your new CIBC Smart Account into a CIBC eAdvantage Savings Account within two months. Once complete, all eligible bonuses will be deposited into your account within seven months after opening your account.

For reference, $400.00 is the highest welcome bonus currently available among the major banks in Canada, as similar offers from BMO, Scotiabank and TD Canada Trust top out at $350.00.

This offer is available to new or qualifying CIBC customers until January 31, 2023 – click here to read the complete terms and conditions for this offer.

Showing 40 Most Recent Comments

View all
    • Was tempted by the offer and tried to apply for an account.

      Ran into an error with their web application form though.... tried with 3 different browsers, and 2 different devices.

      Every single time after hitting the submit button I get this error:
      "Please fix 1 errors on this page to continue. Go to the first error."

      Except.... clicking the "Go to" does nothing, and I can't see any highlighted boxes indicating what the error is.

      Any one have suggestions/ideas? Not a great first start...
    • Report Post
    • Saw an even better offer on my CIBC app, same conditions as the $400 offer from this thread.
      Screenshot_20220801-215630_Banking.jpg
      Yup, I got the same offer via email. offer ends on 31 Oct 2022.
    • Report Post
    • Saw an even better offer on my CIBC app, same conditions as the $400 offer from this thread.
      Screenshot_20220801-215630_Banking.jpg
    • Report Post
    • This is a great promo imo. OP please make it active.
    • Report Post
    • yeah, it's not expired. Please correct admin
      That's right, I just signed up a few days ago.
      Trying to report it somehow to the admin.
    • Report Post
    • A question from the T&C post: https://forums.redflagdeals.com/get-up- ... #p36023765
      two (2) online bill payments to a service provider through CIBC Online Banking or the CIBC Mobile
      Banking App (of at least $50 each) within the same calendar month. A payment from your Account to a
      CIBC credit card or personal line of credit does not qualify as a bill payment.
      I get that CIBC LOC and credit cards are not valid, but the term 'service provider' is concerning.
      Does it mean utility bills or would a TD Visa also count?
    • Report Post
    • The offer for up to $400 for the Smart Account is only available to clients 25 and older.
      Anyone else under 25 willing to file an age discrimination lawsuit against CIBC hoping they'll settle?

      Under BC law, "A person or business that provides services to the public cannot discriminate against someone because of their age (19 or older)"
    • Report Post
    • yeah, it's not expired. Please correct admin
    • Report Post
    • FYI, the offer is still active.

      The offer webpage (https://www.cibc.com/en/special-offers/ ... trc=O458:6) says you have to maintain one (setup 2 ongoing PADs, 2 Visa Debit purchases, or 2 online bill payments of $50 or more each) each month for 12 months.

      The T&C mention "Your recurring direct deposit and recurring pre-authorized debits must remain in place for at least one (1) year from after the month that the Account was opened (see paragraph 5 for consequences if recurring Qualifying Actions are canceled). We reserve the right to determine if a transaction is considered a Qualifying Action." I think the T&C take precedence here, and if you choose the 2 Visa Debits or online bill payments you will only have to meet that criteria for one month.
      Why is this thread under expired? The offer is still being advertised on CIBC's website when clicking on the link..
    • Report Post
    • FYI, the offer is still active.

      The offer webpage (https://www.cibc.com/en/special-offers/ ... trc=O458:6) says you have to maintain one (setup 2 ongoing PADs, 2 Visa Debit purchases, or 2 online bill payments of $50 or more each) each month for 12 months.

      The T&C mention "Your recurring direct deposit and recurring pre-authorized debits must remain in place for at least one (1) year from after the month that the Account was opened (see paragraph 5 for consequences if recurring Qualifying Actions are canceled). We reserve the right to determine if a transaction is considered a Qualifying Action." I think the T&C take precedence here, and if you choose the 2 Visa Debits or online bill payments you will only have to meet that criteria for one month.
      Right, and the 2 Visa Debit purchases need to be online, store VD buys are not eligible.
    • Report Post
    • FYI, the offer is still active.

      The offer webpage (https://www.cibc.com/en/special-offers/ ... trc=O458:6) says you have to maintain one (setup 2 ongoing PADs, 2 Visa Debit purchases, or 2 online bill payments of $50 or more each) each month for 12 months.

      The T&C mention "Your recurring direct deposit and recurring pre-authorized debits must remain in place for at least one (1) year from after the month that the Account was opened (see paragraph 5 for consequences if recurring Qualifying Actions are canceled). We reserve the right to determine if a transaction is considered a Qualifying Action." I think the T&C take precedence here, and if you choose the 2 Visa Debits or online bill payments you will only have to meet that criteria for one month.
    • Report Post
    • Fees fees fee. Stay away. CIBC is scummy.
    • Report Post
    • I have had a cibc account in the past. Am not able to find out when I closed it. Does any one know if there is a way to find when an account was closed? Not sure if the call center would be able to look this up.
      Try Google Maps timeline maybe?

      The other day that’s what I used to find the date of a Costco purchase from 2020 made with a Shop card.
    • Report Post
    • Nice, but last year’s promo was better. $300 welcome bonus, $6.95 monthly fee waived for 12 months, and no minimum balance required.
    • Report Post
    • Pretty standard for these banking offers. I did this one last year when it was 'only' $300. Maintain minimum balance so you aren't charged a monthly fee

      Looking at it from an investment standpoint, you are earning around 10% interest on your 4k deposit for the year. There are no HISA or GIC rates that good out there
      Where can I get 10%?
    • Report Post
    • There's also a savings account @ 2.6% for 4 months. Not the best rate, but it's reasonable for those who want to save a certain portion of their funds in this way.
    • Report Post
    • Monthly fee is $16.95 unless you meet the minimum daily balance requirement
    • Report Post
    • previous promo was better as they waived the banking fees for 12 months and didnt need to commit 4k
    • Report Post
    • If you currently hold a Simplii Financial chequing & savings account, are you still eligible for this promotion?

      Technically, Simplii is a part of CIBC.
    • Report Post
    • (semi related)

      I like the CIBC android app, faster than the TD one.

      Anyway,
      I still can't add my CIBC CC to my Samsung Pay (phone or watch), or Google Pay (watch). I was able to add to google pay phone app via CIBC app because the CIBC app itself does the verification, but when I tried to add to Samsung Pay, the only verification method is "Call Bank" instead of "Text or call or call bank" like other cards. When I tried to "call bank", they had no idea what it was about, and suggested I contact Samsung/Google (after listening to 7 - 10min of music I didnt enjoy).

      CC is definitely activated because it has been used in stores. Only thing I can think of is this is my first CIBC card / account.

      Did other people have to call bank to add to Samsung Pay? can't seem to find the answers online...

      Thanks in advance.
      I added multiple cibc cc's to my samsung pay just fine. same with google pay.

      I also prefer the cibc app over td. I like the options to be notified for any money spent on any of my accounts debit or credit. Even if just 1 cent is spent, i get both an in-app notification and a text message. wish TD had the same.
    • Report Post
    • What did this change from the previous promo in Q1? I signed up for that one and I didn't even recall what cash bonus I was supposed to get in the distant future.

      Mine didn't need the direct deposit though, it was an option between 2 PAD and1 direct deposit and then some online bill payments.

      In retrospect, this was completely not worth the nuisance for a few hundred bucks since you have to maintain it for a year. Just stick with tangerine or simplii and keep it simple. The second I do my time, I'm out and never doing these promos again
      I'm also on the previous promo.. it seems better since I don't have to do the required trasactions for year long albeit missing the simple extra $50..
    • Report Post

    • Simplii didn't. Tangerine didn't. Scotiabank and TD and RBc haven't either afaicr, but I've not personally participated.

      This CIBC offer is the first I've seen that requires you to maintain direct deposit and payments in place for >3 months. 12 mo is vexing at best.
      Ty good to know. I think 12 mo. Is fine because in retrospect i tend to keep them up to 1 yr bec. I didnt want to bother payroll so much lol.
    • Report Post

    • yup, TD doesnt, did that last year and closed around 10 mo. but didnt really need to other than churning.
      done similar as you; closed bmo other year and scotia the other year, so now im left with this cibc... for now.
      Simplii didn't. Tangerine didn't. Scotiabank and TD and RBc haven't either afaicr, but I've not personally participated.

      This CIBC offer is the first I've seen that requires you to maintain direct deposit and payments in place for >3 months. 12 mo is vexing at best.
    • Report Post
    • Do both BMO and CIBC require you keep the account with them for a year? TD and Scotia don't right?
      Did Scotia last year and just met the TD requirements and would like to close.
      Which other bank doesn't have the one year requirement.

      The CIBC Direct Deposit is a hassle too along with the 1 year requirement.
      yup, TD doesnt, did that last year and closed around 10 mo. but didnt really need to other than churning.
      done similar as you; closed bmo other year and scotia the other year, so now im left with this cibc... for now.
    • Report Post
    • What did this change from the previous promo in Q1? I signed up for that one and I didn't even recall what cash bonus I was supposed to get in the distant future.

      Mine didn't need the direct deposit though, it was an option between 2 PAD and1 direct deposit and then some online bill payments.

      In retrospect, this was completely not worth the nuisance for a few hundred bucks since you have to maintain it for a year. Just stick with tangerine or simplii and keep it simple. The second I do my time, I'm out and never doing these promos again
      yup youre right. it was either 2 of 3 and not requiring a DD.
      It definitely is not worth the nuisance, but the same thing can be said with RFD lol./
    • Report Post
    • Maintain for a year? Not worth it.
      Do both BMO and CIBC require you keep the account with them for a year? TD and Scotia don't right?
      Did Scotia last year and just met the TD requirements and would like to close.
      Which other bank doesn't have the one year requirement.

      The CIBC Direct Deposit is a hassle too along with the 1 year requirement.
    • Report Post
    • What did this change from the previous promo in Q1? I signed up for that one and I didn't even recall what cash bonus I was supposed to get in the distant future.

      Mine didn't need the direct deposit though, it was an option between 2 PAD and1 direct deposit and then some online bill payments.

      In retrospect, this was completely not worth the nuisance for a few hundred bucks since you have to maintain it for a year. Just stick with tangerine or simplii and keep it simple. The second I do my time, I'm out and never doing these promos again
    • Report Post
    • Your recurring direct deposit and recurring pre-authorized debits must remain in place for at least one (1) year from
      after the month that the Account was opened
      ...
      I wasnt expecting this...
    • Report Post
    • Full Terms:

      https://www.cibc.com/content/dam/cibc-p ... 022-en.pdf

      Must keep $4,000 in there at all times to avoid monthly fees and must keep the DD going for a year.

      Offer period
      The $400 Offer for the CIBC SmartTM Account and CIBC Smart Plus Account (the “Offer”) begins on April 30, 2022 at
      12:01 a.m. (ET) and ends on January 31, 2023 at 9:00 p.m. (ET) (the “Offer Period”). The Offer consists of up to a
      $400 Cash Reward (the “Cash Reward”) for opening and using a new CIBC Smart™ Account or CIBC Smart™
      Plus Account (each an “Account”). This Offer is made by Canadian Imperial Bank of Commerce (“CIBC”).

      Eligibility
      This Offer is only open to residents of Canada who: (i) are age 25 and older for clients opening a CIBC Smart Account
      or have reached the age of majority for clients opening a CIBC Smart Plus Account; and (ii) from 2019 to the time of
      opening the Account, were not a holder (or joint holder) of a CIBC chequing account, as determined by CIBC at its
      sole discretion on the basis of its official records. CIBC employees and retired employees are not eligible for the Offer.
      This Offer can be combined with the CIBC Smart Account Fee Rebate Welcome Offer or the CIBC Smart Plus
      Account Fee Rebate.
      Unless otherwise indicated, this Offer cannot be combined with any other chequing account
      offer, rebate, reward, or the CIBC Smart Start or CIBC Smart for Students benefit on the CIBC Smart Account.
      Individuals who meet the foregoing eligibility requirements and otherwise comply with these Terms, as determined by
      CIBC at its sole discretion, may be referred to as “Eligible Client(s)”. For joint accounts, all accountholders must be
      Eligible Clients at the time of opening the Account.

      Offer requirements
      To qualify to receive a $350 Cash Reward, you must complete the steps below:
      Step 1: Open an Account during the Offer Period.
      For Accounts opened through Telephone Banking, we may ask you to visit a CIBC banking centre to provide your
      signature to finish opening the Account, in which case you must do this within 7 days of opening your Account and
      before the end of the Offer Period.
      Step 2: Provide a valid email address for any one of the accountholders at the time of opening the Account if one has
      not already been provided. The email address must remain on file and valid for at least one (1) year.
      Step 3: Within two (2) months after the month that you open the Account, set up and complete the following
      transactions within the Account (each a "Qualifying Action"):
      i) at least one (1) recurring direct deposit from your employer, the government or your pension into the Account.
      The direct deposit must recur either weekly, biweekly, monthly or twice per month.;
      and
      ii) at least one (1) of the following three (3) Qualifying Actions from the Account:
      a. two (2) different recurring pre-authorized debits withdrawn within the same calendar month. The preauthorized debit must recur either weekly, biweekly, monthly or twice per month. Examples include: a preauthorized bill payment to a service provider (i.e. utility bill, gym membership) or pre-authorized payment
      to a CIBC mortgage or loan); or
      b. two (2) eligible Visa Debit purchases within the same calendar month (see Eligible Visa Debit Purchases
      below for eligibility details); or
      c. two (2) online bill payments to a service provider through CIBC Online Banking or the CIBC Mobile
      Banking App (of at least $50 each) within the same calendar month. A payment from your Account to a
      CIBC credit card or personal line of credit does not qualify as a bill payment.


      Your recurring direct deposit and recurring pre-authorized debits must remain in place for at least one (1) year from
      after the month that the Account was opened
      (see paragraph 5 for consequences if recurring Qualifying Actions are
      canceled). We reserve the right to determine if a transaction is considered a Qualifying Action.
      Eligible Visa Debit Purchases: Eligible Visa Debit purchases include purchases made with your CIBC Advantage®
      Debit Card from your Account online, in-app, by phone or by mail order at participating retailers that accept
      Visa* Debit as well as in-store in the U.S. and internationally where Visa is accepted. An example of a Visa Debit
      purchase includes the online purchase of streaming services using a debit card as the payment method. Point of sale
      purchases made in Canada and “Cash-Like Transactions” are not considered to be an Eligible Visa Debit purchase
      ; a
      “Cash-Like Transaction” refers to a transaction involving the purchase of items directly convertible into cash.
      Examples include casino gambling chips or credits, money orders, wire transfers, and travellers' cheques. We reserve
      the right to determine if a Visa debit purchase is an Eligible Visa Debit Purchase. Purchase date will be based on the
      date the transaction is posted to your Account. For more information, consult with a CIBC banking representative to
      determine whether any given Visa Debit transaction is eligible for the Offer.
      To qualify to receive an extra $50 Cash Reward (for the total of a $400 Cash Reward), you must:
      Step 1: Complete all steps required to receive the $350 Cash Reward; and
      Step 2: Within two (2) months after the month that the Account is opened, transfer a total of at least $200 from your
      Account to your eAdvantage® Savings Account (eSA). The eSA can be new or existing and must be held by at least
      one Eligible Client.

      Offer fulfillment and conditions
      If you qualify to receive the Cash Reward, it will be credited directly to the Account within seven (7) months after the
      month that you have opened your Account.

      If multiple Accounts are opened on the same day, CIBC reserves the right in its sole and absolute discretion to credit
      the Cash Reward to any Account in its sole and absolute discretion. If the Account is opened on the same day as
      another CIBC chequing account, CIBC reserves the right to choose which offer to provide and to which account if the
      offers cannot otherwise be combined. The Cash Reward must be accepted as provided and is not transferable or
      assignable. No Cash Reward substitutions will be permitted.
      If you do not receive the Cash Reward, you have until nine (9) months after the month that the Account was opened
      to tell us that the Cash Reward was not received.
      If you do not tell us by this time, you will be deemed to have
      forfeited your right to the Cash Reward and to have not qualified for the Offer.
      The Account must remain open, active, unconverted and in good standing for at least one (1) year after the month
      that the Account was opened. All Eligible Clients must remain Eligible Clients for at least one (1) year after the month
      that the Account was opened. If you downgrade, convert or close your Account or cancel any recurring Qualifying
      Actions at any time before one (1) year after the month that the Account was opened, we reserve the right to
      disqualify you from receiving the Cash Reward or if the Cash Reward has been paid, we reserve the right to withdraw
      from your Account or any of your accounts with CIBC the value of the Cash Reward even if this places you into
      overdraft. If your Account is closed and you do not have any other account with us at that time, we may send you an
      invoice for the value of the Cash Reward, which you agree to pay within 30 days of its postmark date.
    • Report Post
    • Opened my account in September 2021 and still waiting for the bonus to be credited. The rep I talked to last month said it should come by April end but haven't got any yet. The waiting part is what kills the excitement.
    • Report Post
    • Can you just transfer money from another bank via "direct deposit" ? instead of doing paycheque
      intuitively it is a no; other direct deposits i could think of are the benefits from cra but im not sure if they do count (why wouldnt they?)
      I have had a cibc account in the past. Am not able to find out when I closed it. Does any one know if there is a way to find when an account was closed? Not sure if the call center would be able to look this up.
      same lol, but i was able to find out when i opened one and expect that i closed it a year later...
      the telephone CSRs cannot veryfiy this BTW, they told me to visit a branch and ask. but i think he was just lazy or didnt know how to check, it should be on their system universally...
    • Report Post
    • I have had a cibc account in the past. Am not able to find out when I closed it. Does any one know if there is a way to find when an account was closed? Not sure if the call center would be able to look this up.
    • Report Post
    • Yes always , maybe your phone number is not well put in your profile? Only CIBC can fix this to be honest, calling samsung pay would be a waste of time
      I also see this on CIBC web :

      To use Samsung Pay:
      An eligible CIBC credit, prepaid or debit card
      Any personal CIBC Visa* credit card or prepaid card (excluding CIBC Corporate cards)

      Do you mind me asking if you have CIBC Mastercard on Samsung Pay? mine is the costco MC.
    • Report Post
    • Did you have the option to "Text" to verify on Samsung Pay other than "Call Bank"?


      thanks for the info.
      Yes always , maybe your phone number is not well put in your profile? Only CIBC can fix this to be honest, calling samsung pay would be a waste of time
    • Report Post
    • This is weird, i never had issue with adding CIBC cards to either. More weird part is that you called and they had no idea, because when it says call bank it means call them and they have a warning on their system saying X is calling to verify their samsung pay and they can verify you. Happened to me with US credit card once and I was able to call and get verified in 2minutes.
      Did you have the option to "Text" to verify on Samsung Pay other than "Call Bank"?


      thanks for the info.
    • Report Post
    • (semi related)

      I like the CIBC android app, faster than the TD one.

      Anyway,
      I still can't add my CIBC CC to my Samsung Pay (phone or watch), or Google Pay (watch). I was able to add to google pay phone app via CIBC app because the CIBC app itself does the verification, but when I tried to add to Samsung Pay, the only verification method is "Call Bank" instead of "Text or call or call bank" like other cards. When I tried to "call bank", they had no idea what it was about, and suggested I contact Samsung/Google (after listening to 7 - 10min of music I didnt enjoy).

      CC is definitely activated because it has been used in stores. Only thing I can think of is this is my first CIBC card / account.

      Did other people have to call bank to add to Samsung Pay? can't seem to find the answers online...

      Thanks in advance.
      This is weird, i never had issue with adding CIBC cards to either. More weird part is that you called and they had no idea, because when it says call bank it means call them and they have a warning on their system saying X is calling to verify their samsung pay and they can verify you. Happened to me with US credit card once and I was able to call and get verified in 2minutes.
    • Report Post
    • Maintain for a year? Not worth it.
      Pretty standard for these banking offers. I did this one last year when it was 'only' $300. Maintain minimum balance so you aren't charged a monthly fee

      Looking at it from an investment standpoint, you are earning around 10% interest on your 4k deposit for the year. There are no HISA or GIC rates that good out there
    • Report Post
    • Can you just transfer money from another bank via "direct deposit" ? instead of doing paycheque
    • Report Post
    • Do Tangerine pre-authorized pulls count?
    • Report Post

Other Banking & Investing Deals

View all

Other CIBC Deals

View all
get deal