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finder.com’s rating: 3.7 / 5.0
★★★★★
The CIBC iCan Checking account comes with a number of attractive features, including $0 monthly fees, ATM access and mobile banking. But you need $50 to open an account and there’s no online application.
$0 per month
Fee
N/A
APY
$50
Minimum deposit to open
APY | N/A |
---|---|
Fee | $0 per month |
Minimum deposit to open | $50 |
ATMs | 27 ATMs in Illinois, Missouri and Wisconsin |
Out-of-network ATM fee | $1 |
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
The CIBC iCan Checking account offers ATM access, mobile banking and the option to offset fees with CIBC’s relationship discount tiers. But branch locations are limited, there’s no online application and you need an opening deposit of at least $50. How much value you can get out of this account will highly depend on your ability to meet relationship tiers and whether you live within CIBC’s service footprint.
There’s no option to apply for the CIBC iCan Checking account online, which means you’ll need to visit a bank branch during business hours.
You must meet the following criteria to qualify for a CIBC iCan Checking account:
Bring the following information with you when you apply:
The CIBC iCan Checking account comes with mobile banking, a debit card and ATM access alongside the following perks:
The CIBC iCan Checking account has the following drawbacks:
You can always review other checking options before you apply to get a better idea of what account will best fit your financial needs.
The CIBC iCan Checking account comes with a debit card that gives you free access to CIBC’s ATM network, which includes 27 ATMs in Illinois, Missouri and Wisconsin. Using a non-CIBC ATM results in a $1 surcharge.
CIBC offers monthly ATM fee refunds for those who qualify for a CIBC relationship discount. With the Everyday Relationship discount, you’ll receive up to $7 in ATM fee refunds per statement cycle. The Plus Relationship discount offers up to $15 in fee refunds per statement cycle. The Premium Relationship discount offers up to $50 in ATM fee refunds per statement cycle.
To open the CIBC iCan Checking account, you’ll need an opening deposit of at least $50.
Dropping below this limit won’t result in any penalties, but keep in mind that the higher your combined account balance, the better perks you’ll receive through CIBC’s relationship discount program.
In addition to its iCan checking account, CIBC offers the following checking options:
CIBC offers four checking accounts for small businesses. None of the accounts are interest-bearing and all require a minimum opening deposit of $100.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.