Newest CIBC Promotions, Bonuses, Offers and Coupons: September 2021

13-Smile / Getty Images/iStockphoto

If you’re a resident of Canada or 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 many banks, CIBC offers promotions to attract new customers. And the August CIBC bonuses fit a unique niche in the marketplace. Not every bank seeks to help students from abroad open the account they need to get a visa to study in Canada, but that’s exactly what this latest CIBC promotion does. Check out the details of this and the bank’s other current offers ahead.

CIBC Checking Account Promotions

Whether you’re doing most of your banking in Canada or some across the border, CIBC has a current offer that may appeal to you.

CIBC Smart and Smart Plus Account: CA$300 Bonus

In addition to a $300 bonus, the monthly fee for these accounts will be waived for a time if you keep up the recurring transactions that you’ll already need to set up in order to claim the bonus.

More From Your Money

More From Your Money

CIBC Bank USA Smart Account: No Monthly Fee for 12 Months

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. With a new account, CIBC will waive the monthly fee and debit transaction fee for a year — no coupons required. Here are the details:

More From Your Money

CIBC Credit Card Promotions

CIBC has a multitude of credit cards with various offers, but these are some of the best.

CIBC Aventura Visa Infinite and Gold Visa Card: Up To 35,000 Bonus Points ($800 Value)

These travel reward cards come with two Aventura points for every dollar spent on travel through the CIBC Rewards Centre, 1.5 points per dollar at gas stations, grocery stores and drugstores and one point per dollar on everything else. Read on for details of the welcome offer.

More From Your Money

CIBC US Dollar Aventura Gold Visa Card: 2,500 Bonus Points and Annual Fee Rebate (Up To $60 Value)

This Visa card accrues rewards points on purchases: one point for every dollar spent on travel made through the CIBC Rewards Centre, and one point for every $2 spent on anything else. Plus, it features no currency conversion fees for purchases made in U.S. dollars.

More From Your Money

CIBC Promotions for Students

CIBC has a new account bonus and a referral bonus that are both aimed at students.

CIBC Smart for Students Checking Account Offer: CA$60 Bonus

Students can get an account-padding $60 for opening a new Smart for Students checking account, which comes with no monthly fee for up to 4 ½ years. If you’re a student, also check out CIBC’s free-to-enter contest that will award $35,000 to the winning student.

CIBC International Student Referral Program: $25 Bonus

More From Your Money

Referral programs are hot right now, helping banks grow their customer base while helping new customers and their friends earn a little extra cash. CIBC has a program designed to help students from China, India, Vietnam and the Philippines get a Guaranteed Investment Certificate or a student bank account that is needed to obtain a student visa to study in Canada.

Best of all, there’s no limit on the number of friends and family you can refer or the amount of money you can earn from the referral bonus program. You don’t even need to be a CIBC client to qualify. If you don’t have your own CIBC bank account, you’ll receive the bonus via the Interac e-Transfer service. Here are the details:

CIBC Business Account Promotions

There’s just one current available business account promotion for CIBC, but it’s worth checking out if you’re looking for a financial home for your new business.

CIBC Business Operating Account: CA$300 Bonus

If you’re a new business owner who hasn’t yet incorporated your business, you can get a $300 cash bonus if you choose CIBC as your banking home.

Other CIBC Offers

New residents or those moving to Canada can take advantage of a welcome package offered by CIBC.

CIBC Welcome to Canada Banking Package: Up To CA$1,200 Value

If you’re planning on taking your cross-border relationship to the next level, CIBC has a raft of welcome offers aimed specifically at newcomers to the nation. Check out the program page for the full details, but bonus offers are available in a variety of ways, such as opening a new checking account, getting a new credit card or renting a safe deposit box, plus making use of the bank’s fee-free international money transfers.

CIBC Mortgage Offer: Up To CA$3,000 Cash Back

Whether you’re a first-time buyer or a homeowner looking for a new lender, you could score some bonus cash from CIBC if you use its mortgage financing. Depending on how much you borrow, you could get up to $3,000.

How To Open a CIBC Bank Account

You can open a CIBC account online in a few minutes by easily downloading the CIBC mobile banking app, available on both the App Store and Google Play. You’ll need to provide personal information such as your U.S. driver’s license or passport.

Next, follow these simple steps:

  1. Select the CIBC product you’d like to apply for.
  2. Enter your information by signing into your account and scanning the barcode on your driver’s license.
  3. Verify by scanning a check or signing the screen using the eSignature option.

After you have been verified, all of your materials can either be mailed to you or picked up at any CIBC banking center.

Are CIBC Bank Promotions Worth Switching For?

Don’t make the switch before you consider if CIBC is really the best bank for you. If it’s convenient for your lifestyle, CIBC’s unique cross-border banking services might be an even stronger enticement than the current promotional offers.

For example, 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. Plus, as long as you meet the requirements, you’ll get a rebate on your monthly fees.

Julia Gordon contributed to the reporting for this article.

Information on promotions is accurate as of Aug. 27, 2021. Additional requirements may apply. Offers and terms are subject to change.

Editorial note: 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.