CIBC USA

Received email today:

"The Federal Reserve recently announced an emergency cut in the fed funds rate by 0.50% in response to market volatility. As a result, the new rate on your Agility Savings Account will be 1.45% APY1 effective March 10, 2020."

https://us.cibc.com/en/agility/agility-savings.html

" To qualify for an Agility Savings New Client promotional bonus, you must:

1. Complete an account application for a new Agility Savings account between February 10, 2020 and March 16, 2020. An account application is deemed complete when you are provided an account number on the confirmation screen.

2. Deposit at least $25,000 of new money from an external bank (transfers between CIBC Bank USA accounts will not qualify) within the first 15 calendar days from the date of the completed account application (Initial Funding Period);

3. The minimum daily balance on the account must be at least $25,000 for 120 days from the last calendar day of the Initial Funding Period; and

4. Enroll in Online Banking and change the Statements Delivery Method to "Online" during the Initial Funding Period and continue enrollment for 120 days from the last calendar day of the Initial Funding Period.

The bonus will be determined as follows:

1. You will earn a $200 bonus if you maintain a minimum daily balance between $25,000 and $49,999.99 for 120 days from the last calendar day of the Initial Funding Period.

2. You will earn a $400 bonus if you maintain a minimum daily balance of at least $50,000 for 120 days from the last calendar day of the Initial Funding Period.

3. If at any time during the 120 days from the last calendar day of the Initial Funding Period your minimum daily balance decreases:

a. Less than $50,000 but $25,000 or more, you will earn a bonus of $200.

b. Less than $25,000, you will not qualify for a bonus.

The account is subject to approval.

New money means funds not currently held within a CIBC Bank USA account. Only one bonus is permitted per primary or secondary account holder. Once you have qualified for a bonus, your bonus payment will be paid no later than 60 calendar days after you have completed all the requirements listed above.

Bonus is considered interest for income tax purposes and will be reported to the IRS. Consult your tax adviser regarding specific tax considerations for your accounts.

Bonus offers are not eligible to you if you were the primary or secondary account holder of an Agility Savings account with CIBC Bank USA on or after May 1, 2018.