Newest CIBC Promotions, Bonuses and Offers: August 2020

CIBC bank promotions

If you spend a lot of time traveling between the U.S. and Canada, banking with CIBC can simplify your life. The bank gives you access to cross-border financial services that let you deposit, transfer and spend in both currencies with no exchange fees.

Like most banks, CIBC offers promotions and cash bonuses to help lure new customers. A GOBankingRates survey found that most respondents choose their bank according to conveniences such as local branch availability rather than promotions, meaning they might be missing out on lucrative bonuses.

CIBC’s August promotion has a value of $300. Keep reading to learn how you can qualify for it:

CIBC Bank Promotions at a Glance

CIBC’s promotions this month are designed for new customers who open a checking account. Here’s a closer look:

Best CIBC Promotions: August 2020
Account Cash Value of Bonus Expiration Date
CIBC Smart Checking $300 None

Current CIBC Bank Promotions

CIBC’s current promotions can help you earn hefty bonuses for opening new accounts. No CIBC coupons are required to redeem them, but you will need to follow certain rules. More details are below.

Best Checking Account Promotions

CIBC’s Smart and Smart Plus checking accounts both offer lucrative cash bonuses this month. Keep reading to learn more.

CIBC Smart Checking Account Promotion: $300 Cash Bonus

Frequent cross-border travelers between the U.S. and Canada will appreciate the convenience and control of having a checking account that works in both countries. Earning the $300 bonus is simple.

Here are the details:

  • Cash value: $300
  • Minimum deposit to qualify: None
  • Expiration date: None
  • How to get it: Open a Smart checking account, set up a recurring direct deposit or arrange for two recurring bill payments per month.
  • When you’ll get it: Within seven months of opening your account
  • Terms and conditions: You must make the required transactions to qualify for the bonus.
  • Monthly fees: $4.95 to $14.95, although the fee is waived for the first nine months
  • Promotion pageCIBC Smart Checking Account bonus offer

Best Credit Card Promotions

Unfortunately CIBC Bank isn’t offering any Credit Card promotions at this time. If you’re in the market to open a bank account, there are a number of banks offering free money and perks for opening an account.

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Past CIBC Promotions

You may have missed out on these past promotions, but it can help to see previous CIBC Bank offers like the ones listed below.

CIBC Aventura Visa Infinite and Gold Visa Credit Card Promotion: Up To $920 Cash Value

When you apply and get approved for a CIBC Aventura Visa Infinite or CIBC Gold Visa credit card, you’ll receive a 35,000-point bonus worth up to $800 toward a plane ticket. CIBC will also waive the first year’s $120 annual fee, for a bonus equivalent to $920. Here’s more:

  • Cash value: Up to $920
  • Expiration date: July 5
  • How to get it: Customers applied and got approved for either card and made a purchase.

CIBC Visa Infinite Privilege Credit Cards Promotion: Up To $1,000 Cash Value

CIBC’s Visa Infinite Privilege credit cards are designed for high-income clients who earn at least $200,000 per year and come with annual fees of $399 and $499. Sure, that sounds high. But customers who travel frequently will get more than the annual fee back in perks and rewards such as free access to airport lounges and four annual guest passes, free checked bags, premium travel insurance, a $200 annual travel credit and more.  Here’s how to earn the 50,000 reward points, worth up to $1,000 in airfare:

  • Cash value: Up to $1,000
  • Expiration date: July 5
  • How to get it: Customers Applied and got approved for either card and made at least $3,000 in purchases within the first four months.

How To Open a CIBC Bank Account

You can open a CIBC account online in a few minutes. You’ll need to provide personal information such as your U.S. driver’s license or passport.

Are CIBC Bank Promotions Worth Switching For?

CIBC’s August promotions are enticing because they let you earn large cash bonuses, but the bank’s unique cross-border banking services might be an even bigger selling point. If you frequently travel between Canada and the U.S., it’s worth switching to CIBC because you can handle banking tasks in both currencies without having to worry about foreign transaction fees or currency exchanges.

This content is not provided by CIBC. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by CIBC.

This article has been updated with additional reporting since its original publication.

About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.