CIBC Bank USA is headquartered in Chicago and is the 3rd largest bank in the state of Illinois. It is also the 52nd largest bank in the nation. It was established in 1991 and as of June of 2022, it had grown to 1,847 employees at 22 locations. CIBC Bank USA's savings rates are 8X the national average, and it boasts an A+ health rating.
Related Posts
6/17 - CIBC Bank USA Hikes Agility Online Savings Rate
4/5 - CIBC US Bank Boosts 12-Month Agility CD APY To Rate-Leader Status
11/2 - CIBC Agility High Interest Savings Account: 0.62% APY
8/17 - CIBC Agility Savings Account Rate Cut: 1.05% To 0.90% APY
7/20 - Agility Savings Rate Drops To 1.05% APY
6/26 - Review of CIBC's Savings Accounts and CD Rates
6/19 - CIBC Drops Agility Savings Rates To 1.15% APY
3/9 - CIBC Drops Savings Rates To 1.45% APY
3/6 - CIBC Offers Bonus of Up to $400 on Its Agility Savings Account
2/25 - $400 Bonus On 50K Deposit
12/21 - Saving Account Increased To 2.39%
12/20 - Less Waiting And Higher Limits For CIBC Agility Savings Account
9/7 - CIBC Bank Boosts Rate On Agility Savings Account
6/25 - CIBC Bank Introduces Agility Savings Account
6/24 - CIBC Savings Rate Increased To 1.9% APY
5/22 - Savings Rate Raised To 1.65% APY
3/6 - CIBC Has A 2.30% APY Until 3/31/2018. Then .9%.
6/5/15 - Palladian PrivateBank Has Savings Account Promotional Rate For 6 Months
9/20/14 - Palladian Privatebank No Longer Opening New Savings Accounts
8/7/14 - Savings Account Promo Rate at Palladian PrivateBank Ends January 31, 2015
7/22/13 - Top Savings Account Rate at The Palladian PrivateBank
11/23/10 - The Palladian Privatebank's 1.50% Savings Account Is No Longer Available
4/12/10 - Beware This Is Not An FDIC Insured Institution
2/17/10 - Competitive 12-Month CD and Savings Account Rates at Palladian Private Bank - Available Nationwide
Quickly Becoming One Of My Favorite Hub Banks
I opened my CIBC Agility savings in summer of 2020 at the height of the pandemic when they offered a $400 sign on bonus. I opened the account only for the bonus and did not have high expectations for the account. The rates throughout the pandemic were above average, but not top tier and I kept low amounts in the account throughout that time.
Since the rates have began to rise in 2022 I have been pleased with their willingness to frequently raise their rates and stay competitive. Further more, I am very pleased that they allow 20 linked accounts via ACH, which is almost unheard of these days. I have had no holds or transfer problems at all with this bank like I have constantly had with Ally, Macrus, Syncrony and others.
There are only a few minor things I am not a fan of, one being the $125K daily transfer limit and $250K Monthly limit. However it is 250K in/250K out, so the monthly movement limit is 500K. They also just implemented a total of 500K maximum balance on the Agility account, but if you have above that before Sept 28th, you are grandfathered in until your balance drops below $500K for the first time, then it applies to you also. These are minor inconveniences however, still pretty generous transfer limits compared to many others.
Although they do not pay the absolute highest rate out there, the combination of 20+ ACH links, acceptably high transfer limits and quick, no-nonsense transfers gives this bank an A+ in my book, and that is a rare occurrence with maybe only Citizens Access being tied for 1st place in my eyes (if they could keep their rates up with CIBC).
Excellent.
Recently had a problem with another bank, transferring funds AWAY FROM CIBC. Customer service was extremely helpful even though CIBC did nothing wrong, was losing deposits, but I needed protection from "Plaid." I have always gotten direct and accurate answers from customer services here, the computer interfaces work well, and when the rates are very favorable have deposited smoothly into here. Only problem was a few years ago when the security protocols from an outside tech processor glitched, and I got sent to another bank on the ACH instead--they fixed this rare technical slip up very rapidly. Recommended.
Been Fine So Far.
I got this account early this year for a bonus on their Agility Savings account. They paid it right on time and I've kept the account because they've done a good job of keeping a top/competitive rate so far.
It was easy to set up. They've been helpful whenever I've had to call.
I think the daily limits I see online in comment sections are wrong.
Their app is severely limited. You can't do external transfers, no fingerprint sensor login, it doesn't even show the current savings rate. So for transfers, you have to use their website (it's OK, like something you may have used 5-10 years ago), and it always takes me 10 minutes to figure out how to login even from their site.
Threaten To Sue You If You Leave Review About Their Shady Practices
Unbelievable! I had a horrible experience with this bank, and when I took it to the supervisor (her name started with K/C I believe) she threatened me not to leave my review warning "be careful" what you post online! WOW! I told her I'm telling the truth about the unacceptable practices of the bank, and she still threatened that they still can sue me for leaving my review! HUHHH
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33306 |
| Year Established | 1991 |
| Employees | 1847 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.04% |
| Return on Equity - YTD | 6.61% |
| Annual Interest Income | $598.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $47.74B$45.15B |
| Loans | Q2 2022vs Q2 2021 | $31.50B$26.01B |
| Deposits | Q2 2022vs Q2 2021 | $38.19B$35.73B |
| Equity Capital | Q2 2022vs Q2 2021 | $7.94B$7.17B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $369.7MM$393.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $188.1MM$170.5MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $173.00K$53.00K |
