CIBC Bank USA is headquartered in Chicago and is the 3rd largest bank in the state of Illinois. It is also the 53rd largest bank in the nation. It was established in 1991 and as of December of 2021, it had grown to 1,783 employees at 27 locations. CIBC Bank USA's CD rates are 39% higher than the national average, and it boasts an A+ health rating.
Related Posts
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
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.
Terrible
They close your account out of the blue. When I finally got to someone after a number of phone calls to ask why, they interrogated me about the "source of my money". Like excuse me? What money? My mere savings that were transferred from my previous account and parked in this account for higher interest? Nobody has extorted such information. Not only it's not their business, but what does it even mean? They expect to get a bio of your lifetime of saving? They didn't just ask about one transaction, they harassed me for information about the history of my savings in other accounts! Their kind will do nothing honest with intrusive info they extort from you. No honest bank just harasses you for no reason and extorts you by closing your account. And it wasn't even an unusual amount of savings.
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
They Initiate Transactions Without Your Authorization And Have No Apologies!
They do unauthorized transactions on your account and close your account, and then to their dying breath refuse to admit they were wrong or try to correct themselves in the future! They make up that you requested to close your account and will never apologize! For real, I thought they would quickly apologize for their mistake, instead I spent an hour with obnoxious agents that argued I don't know what I communicated with them and imply that I'm lying, all the while I'm reading my messages to them where I asked them if they could put a stop on a transaction and cancel a payment. It's like they cash a check you ask them to put a stop on, then instead they take that amount out of your account and send it to you and say you wanted your account closed?! In no way I said anything implying that! They don't even call you to ask you before making unauthorized transfers and closing your account. They didn't even offer a courtesy apology, and outright say they have nothing to apologize for! Are these people for real? With them not only customers are never right, but they also absolutely do not get a superficial apology!
Registration Process Is Broken
I tried numerous times to register for an online savings account for this bank, wasting several hours, but was never able to finish the process. The application form always brought me to a confirmation screen before I got to the page where you fund the new account.
When I called customer service, I was told that verification was handled by an unnamed "third party," and if this system couldn't verify my identity it would end the application early. They apparently had no control over this external system. So, I guess I've given my very sensitive information (SS#, etc.) to an unknown "third party" which had wrong information on me and therefore couldn't verify that I am me. The whole thing was exasperating, and I'm concerned about who has my info now. To be fair, the customer service agents I spoke with were very friendly, but the bank's system prevented them from helping me.
I've signed up for several other bank accounts in the last 5 years and have never had issues like this.
Data as of Q4 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33306 |
| Year Established | 1991 |
| Employees | 1783 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.16% |
| Return on Equity - YTD | 7.36% |
| Annual Interest Income | $994.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $48.49B$44.13B |
| Loans | Q4 2021vs Q4 2020 | $28.62B$25.81B |
| Deposits | Q4 2021vs Q4 2020 | $38.87B$35.14B |
| Equity Capital | Q4 2021vs Q4 2020 | $7.37B$6.92B |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $375.4MM$444.1MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $209.5MM$176.9MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$147.00K |
