Personal Finance

Does it cost money if I wanted to transfer all my money at CIBC to PCF?

  • Last Updated:
  • Sep 17th, 2014 2:04 pm
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[OP]
Member
Jan 29, 2008
355 posts
32 upvotes

Does it cost money if I wanted to transfer all my money at CIBC to PCF?

I signed up a chequing, savings, and tax free savings account at CIBC in early 2014. Put about 16k cash in there. I never use that money though. Now i want to take advantage of PCF 3.1% return until dec 30th, so I want to transfer all that money into a new PCF account.

Will CIBC penalize me for this?
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2 replies
Deal Expert
Aug 2, 2001
15582 posts
5813 upvotes
This may help:
https://www.cibc.com/ca/pdf/personal-ac ... ees-en.pdf
It looks like closing an account at your request only incurs a fee within 90 days of opening. Or, if you do an actual account transfer (not close the account, but transfer it).

I would call to verify or send them a message through their online message centre.
Deal Addict
Jan 21, 2014
3873 posts
1632 upvotes
should go to PCF and pull the money over, that shouldn't cost any transaction fee on both sides

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