Personal Finance

CIBC Bank USA Smart Account - Sign up Jan 28th to Apr 30/20, to pay no monthly fee for one year?

  • Last Updated:
  • Feb 6th, 2020 5:09 pm
[OP]
Deal Addict
Oct 3, 2018
1537 posts
1331 upvotes
GTA

CIBC Bank USA Smart Account - Sign up Jan 28th to Apr 30/20, to pay no monthly fee for one year?

Came across this CIBC Bank USA Smart Account - Pay no monthly fee Offer for one year, if you open an account between January 28, 2020 and April 30, 2020.

https://us.cibc.com/en/personal/checkin ... count.html

Enjoy flexible cross-border banking. If you live, travel, shop or do business in the U.S., now you can easily transfer cash, pay U.S. bills and spend money with ease.

Pay no monthly fee for one year†
Get unlimited everyday banking with a new CIBC Bank USA Smart Account.

Your CIBC Bank USA Smart Account is an everyday checking account in U.S. dollars that will be automatically linked to your Canadian CIBC Online Banking® profile.

Set up automated direct deposits for your U.S. dollar payroll checks from U.S.-based organizations.

T's and C's show fees after 8 transactions (8 x 1.25 = $10) per statement cycle ... and more, to decipher.


As there is no bonus per se, I am guessing this would appeal to very few on RFD or maybe a select # of CIBC Canadian banking clients, looking for Cross Border Options?
Last edited by mzmoney on Feb 6th, 2020 11:16 am, edited 3 times in total.
8 replies
Moderator
User avatar
Jul 5, 2004
24350 posts
3810 upvotes
Was looking at this, but don't see any advantages of this over a pre-paid CC with no currency exchange fees, such as Stack.
Jr. Member
Dec 21, 2010
185 posts
94 upvotes
It's the ATM refund that matters. When you travel aboard, most ATM charges $3 to $12 for each withdrawal. This account reimburses the foreign ATM fees.

Anyone has this account can comment on the exchange rate that CIBC USA uses?
[OP]
Deal Addict
Oct 3, 2018
1537 posts
1331 upvotes
GTA
@titaniumtux not sure if I recall correctly you talking about this account or was it a different CIBC Bank Account?

It's sometimes hard to find comments later via key word searches and use of acronyms or short form in 100+ page threads :)
Deal Guru
User avatar
May 8, 2009
12231 posts
8867 upvotes
%s
khkchan wrote: It's the ATM refund that matters. When you travel aboard, most ATM charges $3 to $12 for each withdrawal. This account reimburses the foreign ATM fees.

Anyone has this account can comment on the exchange rate that CIBC USA uses?
That's the question. Unless it's a no-FTF debit card with global ATM fee reimbursements, then it's probably not worth keeping given that after the promo period, there's likely a hefty minimum balance to waive the monthly fees.
mzmoney wrote: @titaniumtux not sure if I recall correctly you talking about this account or was it a different CIBC Bank Account?

It's sometimes hard to find comments later via key word searches and use of acronyms or short form in 100+ page threads :)
Don't recall discussing this account. Doesn't seem too interesting to me. I prefer my US accounts to be keepers.
eBay profile| Motorola phone. Linux on 2xcomputers. Brew beer & wine @home. Hackers keep changing my location to Leask.
DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
Member
Mar 14, 2014
386 posts
472 upvotes
titaniumtux wrote:
Don't recall discussing this account. Doesn't seem too interesting to me. I prefer my US accounts to be keepers.
I was surfing around the CIBC US banking website and found an iCan checking account that may meet the criteria of being a keeper? Not sure if it's available to Canadians.

https://us.cibc.com/en/personal/checking.html
Deal Guru
User avatar
May 8, 2009
12231 posts
8867 upvotes
%s
flyjazz wrote: I was surfing around the CIBC US banking website and found an iCan checking account that may meet the criteria of being a keeper? Not sure if it's available to Canadians.

https://us.cibc.com/en/personal/checking.html
Too good to be true? No min balance, no monthly fee, low initial min funding, ATM fee reimbursements and debit card cashback?
eBay profile| Motorola phone. Linux on 2xcomputers. Brew beer & wine @home. Hackers keep changing my location to Leask.
DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
[OP]
Deal Addict
Oct 3, 2018
1537 posts
1331 upvotes
GTA
titaniumtux wrote: Too good to be true? No min balance, no monthly fee, low initial min funding, ATM fee reimbursements and debit card cashback?
Yep @flyjazz looks like US account for Americans only with flag in top right corner; if change to Canada, sadly, does not appear as an option.
Images
  • cibcus.PNG
Deal Guru
User avatar
May 8, 2009
12231 posts
8867 upvotes
%s
mzmoney wrote: Yep @flyjazz looks like US account for Americans only with flag in top right corner; if change to Canada, sadly, does not appear as an option.
But...the question is whether it's available as cross-border. Any DP's?
eBay profile| Motorola phone. Linux on 2xcomputers. Brew beer & wine @home. Hackers keep changing my location to Leask.
DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread

Top