Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

CIBC US$ Personal Account review

The CIBC US$ Personal Account is best for individuals who regularly manage US dollars or travel to the US often.

No reviews yet. Write a review


Interest Rate


Minimum Balance

Please note: All information about CIBC US$ Personal Account has been collected independently by Finder and this product is not available through this site.
Interest rate0.25%
Account fee$0
Fee per transactionUS$0.75
Minimum balance$0
Minimum age18

Expert review

The CIBC US$ Personal Account is ideal for people who frequently travel to the US or routinely handle US currency. The account has no monthly fee, earns interest on balances and eliminates conversion rate considerations. However, be wary of transaction limitations and costs to use other banking services when using this account. If you’re looking for an account that holds Canadian currency, continue researching other savings accounts options.

What are the benefits of the CIBC US$ Personal Account?

Individuals who frequently travel to the US or handle US currency can take advantage of the following benefits:

  • Interest on any balance. Earn 0.25% on your US dollar balance.
  • Hold, spend and deposit US currency. This account allows you to manage US currency without having to consider conversion rates.
  • No fee. There’s no monthly cost for this account.
  • Online banking. Access your banking information and perform most transactions using CIBC’s online and mobile platforms.

What should I look out for?

Before opening a CIBC US$ Personal Account, consider the following:

  • No transactions. This account doesn’t come with complimentary transactions. Every transaction you incur will cost US$0.75.
  • Interac e-Transfers not available. It’s not possible to send and receive Interac e-Transfers from this account.
  • Other banking fees. Non-sufficient funds, overdraft protection and other similar services will usually incur a fee.

How do I open a CIBC US$ Personal Account?

  1. Go to CIBC’s website.
  2. Under Bank Accounts, select Savings.
  3. Click Apply now under CIBC US$ Personal Account.
  4. Provide CIBC with the necessary information, including your full name, date of birth, address, residential status and contact information. After entering each piece of information, click Next.
  5. Indicate how you intend to use the US$ Personal Account. Click Next.
  6. Review the information you entered and click Next.

Eligibility requirements

To be eligible for the CIBC US$ Personal Account, you must meet the following criteria:

  • Be a Canadian resident
  • Be the age of majority in your province or territory

Required documents and information

During the application process, you will be asked to provide the following information:

  • Full name
  • Date of birth
  • Address, residential status and length of time at that residence
  • Phone number
  • Email address
  • Employment status
  • The same information for a co-applicant, if applicable

How do I deposit or withdraw my money?

The CIBC US$ Personal Account is a savings account, which means it’s not designed for everyday banking. You will incur a fee for nearly all transactions, and transfers between CIBC accounts are not free. It’s ideal if you can use a chequing account as an intermediary for transactions to reduce fees, preferably in US dollars.

US dollars can only be withdrawn from CIBC branches or ATMs that hold US currency, and you can complete the US cash withdrawal using your debit card. Non-CIBC ATM withdrawals are not allowed with this account. Cheques can be deposited at a CIBC ATM, branch or through the online portal. Cash can be deposited at a branch or ATM.

How can I get in touch with customer service?

Contact CIBC’s customer service team using one of the following methods:

  • Ask a virtual assistant. Discuss your common banking queries with a virtual assistant on CIBC’s website.
  • Book a meeting. Schedule an appointment on CIBC’s website to discuss your banking questions with an expert.
  • Visit a branch. Drop in at a local CIBC branch to have your banking questions answered.
  • Call customer service. Chat with a professional by calling CIBC’s customer service line.

Frequently asked questions

Compare CIBC with other savings accounts

1 - 4 of 4
Name Product Interest Rate Promotional Interest Rate Min. Bal / Min. Deposit Account Fee
Simplii High Interest Savings Account
$0 / $0
Earn 3.00% interest on your savings. Open an account and get a special interest rate for deposits up to $1,000,000. Conditions apply. Valid until October 31, 2022.
KOHO Earn Interest
$0 / $0
Use promo code FINDERCODE and get a $20 cash bonus when you make your first purchase within 30 days. Opt into earning interest for free and earn 1.20% on your balance, plus an additional 0.50% in cash back on every purchase you make.
Neo Money Account
$0 / $0
Get a competitive interest rate and unlimited free transactions with no monthly fees or minimum balances.
EQ Bank Savings Plus Account
$0 / $0
Enjoy zero everyday banking fees, free transactions and no minimum balance.

Compare up to 4 providers

Go to site