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Published January 20, 2023

Canadian Imperial Bank of Commerce (CIBC) Review

Canadian Imperial Bank of Commerce, or CIBC, is one of Canada's Big Six banks. CIBC bank is a multinational financial institution serving individuals and businesses.

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CIBC at a glance

The Canadian Imperial Bank of Commerce, or CIBC, was founded in 1867 and is and one of Canada’s Big Six banks.

  • CIBC account options
    Visa and Mastercard credit cards
  • Other CIBC services
    Loans and lines of credit
    Wealth management
    Business financing

Canadian Imperial Bank of Commerce overview

Canadian Imperial Bank of Commerce, or CIBC, is a full-service financial institution founded in 1867. It is considered to be one of Canada’s Big Six banks. Over 1,100 banking locations and 3,400 ATMs serve millions of CIBC clients every day. Clients can access most everyday banking, saving, borrowing, wealth management and other financial services via the CIBC online banking portal, mobile app, and telephone.

As part of its corporate social responsibility efforts, CIBC’s climate action initiative provides resources to help clients transition to low-carbon living, responsible investment options, and a CIBC Green Vehicle Loan.

Online banking capabilities at CIBC

CIBC clients have had access to online banking since 1995. These years of experience in digital banking have informed the CIBC bank’s effort in making it robust, secure and easy to use. Clients can use the award-winning website ( and mobile app for everyday banking, free credit score monitoring, personal financial insights, opening new accounts, and more.

The CIBC app receives 4.0 and 4.3 out of 5 stars on Google Play and Apple App Store, respectively, indicating general satisfaction for CIBC mobile banking from tens of thousands of users.

Note, you’ll first have to register your CIBC debit or credit card to start using CIBC online banking on your device.

Is my money safe at CIBC?

Canadian Imperial Bank of Commerce is a member of the Canada Deposit Insurance Corporation (CDIC). In the unlikely event of bank failure, your CIBC savings, chequing, combined savings-chequing accounts, Guaranteed Investment Certificates (GICs), and registered savings accounts are eligible for CDIC’s deposit insurance.

CIBC bank uses multiple layers of security, verification for any account changes, fraud alerts, and other enhanced security measures to protect your money. ​​Additionally, you’re covered by the ​​CIBC Digital Banking Guarantee, which promises to refund any money lost to fraud, provided you follow digital banking security guidelines.

CIBC account types

CIBC savings accounts

CIBC chequing accounts

CIBC also offers special chequing accounts to serve youth, students, seniors, foreign workers and newcomers to Canada.

» MORE: Read our CIBC Smart Start youth account review

CIBC credit cards

CIBC offers Visa and Mastercard options for personal, business, student and U.S. dollar spending. Clients receive travel points, privileges, cash-back or no annual fee benefits on CIBC reward cards from partners — Aventura, Aeroplan and Costco. A few of the featured cards include:

CIBC investing accounts

Other CIBC bank services

CIBC Bank fees

Banking fees can vary based on the accounts you have and how you use them. Here are some of the common fees you may encounter using CIBC bank’s financial products and services:

Who CIBC is best for

Canadians who want to keep all their finances in one place, value online banking, and like the option of in-person banking. 

CIBC has product offerings that are similar to the other big banks, offering account bonuses, rewards and discounted fees. Aside from the variety of banking options, personal and business clients can consider the overall client satisfaction that CIBC is propelling through technological innovation and climate action initiatives to match their unique needs.

Pros and Cons of CIBC bank

There’s plenty to like about CIBC bank, but no bank or credit union is without its drawbacks. Here’s what to consider before you open an account.

Pros of CIBC

Cons of CIBC

How CIBC compares to other big banks

 CIBCBMO BankScotiabank
Number of countries servedGlobalMore than 10More than 30
Number of branches in CanadaOver 1,000More than 900900
Mobile app?YesYesYes
Are deposits insured?Yes, by the Canada Deposit Insurance Corporation.Yes, by the Canada Deposit Insurance Corporation and Canadian Investor Protection Fund.Yes, by the Canada Deposit Insurance Corporation.

CIBC frequently asked questions

What is the CIBC customer service number and hours of operation?

The CIBC telephone banking number is 1 (800) 465-2422 with service available 24 hours a day, 7 days a week.

How do I get to the CIBC Aventura rewards login page?

You do not need separate login credentials to access your CIBC rewards account. After you’ve registered your eligible credit card via online or mobile app banking, you’ll be able to manage your rewards from your banking portal.

CIBC Youth Account Review: Pros, Cons and Who It’s For

CIBC Youth Account Review: Pros, Cons and Who It’s For

CIBC’s Smart Start youth chequing account offers unlimited transactions and other perks to Canadians who are under 25 years of age.

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