
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 3.7 / 5.0
★★★★★
The CIBC myChoice Plus Checking account is an interest-bearing account with ATM access, mobile banking and the option to waive fees. But a $50 opening deposit is required and the CIBC ATM network is limited.
$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 | Fees at non-proprietary ATMs (ATMs not owned by the Bank) charged to your account will be refunded up to $25 after the fee is charged |
Overdraft fee | $0 |
Nonsufficient funds fee | $45 |
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 myChoice Plus Checking account is an interest-bearing account that can help you grow your funds. It offers ATM access, mobile banking and opportunities get fees waived. But a $50 opening deposit is required, and the limited ATM network can get in the way of pulling and depositing cash.
To apply for the CIBC myChoice Plus Checking account, you’ll need to visit your local CIBC branch.
You’ll need to meet the following criteria to be eligible for a CIBC myChoice Plus Checking account:
Before you apply, gather the following pieces of information:
The CIBC myChoice Checking account comes with mobile banking, a free debit card and ATM access, along with the following perks:
Relationship tier | Qualifying balance | Rewards |
---|---|---|
Everyday Relationship | $5,000+ |
|
Plus Relationship | $10,000+ |
|
Premium Relationship | $25,000+ |
|
Prestige Relationship | $50,000+ |
|
In addition to a limited ATM network and $1 fees for using non-CIBC ATMs, be wary of the following drawbacks:
Interested in more account options? Check out other checking accounts to find a provider offering the features that fit your financial needs.
The CIBC myChoice Plus Checking account comes with a debit card and ATM access.
The CIBC ATM network includes 27 ATMs and spans three states: Illinois, Missouri and Wisconsin. A majority of available ATMs are concentrated in Illinois.
Using a CIBC ATM is free for CIBC customers, but the use of any non-CIBC ATM results in a $1 surcharge.
The CIBC myChoice Plus Checking account requires a minimum opening deposit of $50.
Falling below this balance won’t result in any penalties, but bear in mind that the higher your qualifying account balance, the better CIBC relationship rate you’ll receive.
The other checking accounts in CIBC’s product line are:
If you run a small business, CIBC has four business checking accounts for you to choose from:
★★★★★ — 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.