• CIBC Canada No Fee Chequing Account Review

    CIBC (Canadian Imperial Bank of Commerce) is one of Canadas largest and most popular banking institutions. When it comes to no fee daily chequing account, CIBC really doesn't have too many options available. But the option they do offer, the CIBC Everyday Chequing Account, is a pretty good chequing account option for many Canadians. CIBC also has a very strong relationship with PC Financial, which offers a true no fee chequing account where you can access CIBC machines for all your transactions absolutely free. Learn more about PC Financial

    CIBC Every Day Chequing Account (No Monthly Fee with Min Balance)

    CIBC offers many options when it comes to Canadian chequing accounts, but only one option where you can have the monthly fee waived. The CIBC Everyday Chequing Account is a more basic account that is suitable for students or people who don't make too many debits and withdraws each month. The cost of the account is just $3.90 per month and they will waive the that fee if you maintain a monthly balance of at least $1,000. It is also part of the CIBC total banking rebate program so even if your account account balance is below $1,000 you can save 50% on your monthly fee by simply having the right combination of CIBC products.

    You are limited to 10 transactions a month with this accoutn and any extra that you make are subject to a one dollar fee. You don't receive any free Interact e-transfers like you do with their more comprehensive chequing account options, but you do get them at a preferred rate of $1.50 each. Please be aware as well that this is a totally paperless account and if you do require statements or a bank book, you will be charged a nominal fee of around $2.00 depending on the specific request.

    Main Features:
    - 10 Free transactions every month
    - $3.90 Account fee waived with $1,000 balance

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