2. CIBC USA

CIBC USA


Overview / Commentary
us.cibc.com
312-564-2000
120 South LaSalle Street
Chicago, IL 60603

CIBC USA is headquartered in Chicago and is the 3rd largest bank in the state of Illinois. It is also the 62nd largest bank in the nation. It was established in 1991 and as of June of 2019, it had grown to 1,632 employees at 25 locations. CIBC USA's savings rates are 4X the national average, and it boasts an A+ health rating.

Related Posts

CIBC Bank Ups Rate On Agility Savings Account to 2.39% APY - 12/21/2018

CIBC Bank USA has increased the rate of its Agility Savings account by 23 bps to 2.39% APY. This is the third rate increase since CIBC introduced Agility Savings.

Saving Account Increased To 2.39% - 12/21/2018

Announced today that the new rate will be automatically applied to your account

Less Waiting And Higher Limits For CIBC Agility Savings Account - 12/20/2018

I got the following email: "Change in Terms Notice for Your Agility Savings Account "As of January 24, 2019, the following changes will take effect regarding your ability to make external transfers within CIBC NetBanking: "1. We have reduced the waiting period to 30 days to allow you to use CIBC NetBanking to transfer funds from your CIBC Bank USA account to your account at another financial institution. "2. We have changed the limits for using external transfers in CIBC NetBanking to transfer funds to an account you own at another financial institution. The new limits are $125,000.00 per day and $250,000.00 per month." IIRC, they had a 90 day hold on money once deposited, though I was initially told if I called them they could set external accounts up over the phone before the 90 day period was up and money could sent to the original bank via ACH anyways.

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Reviews (4)

Too Many Restrictions

Posted by: RZ | Jan 12, 2018

I have been with this bank for a couple of years as their rates for savings accounts have been competitive up until recently. What is annoying however is that the promo rates are guaranteed for only 6 months and then revert to a much lower one. In order to maintain the better rate a new account must be opened which is an unnecessary hassle requiring that new external linkages must then be established. Out going ACH transfers are also limited adding further hoops for gaining access to your funds. Now that even the promo rate is not near the leaders I am done with dealing with this banks idiosyncrasies and plan to move on.

29

Stay Away Until They Get Their Act Together

Posted by: Jarlath | Sep 14, 2018

I just opened, and closed, a CIBC agility account. I didn't know that they do not allow you to pull money in from an external bank account. You have to wire it over or send them a check. I called customer service question this and they said as they are new to the online banking business, they still are working out the kinks. So, until they do, do not open an online account with them.

52

Opened An Account

Posted by: DavidofAnnArbor | Sep 8, 2014

I had absolutely no problem opening an account. The only slight issue was that the application asks for an issue date for the driver's license which is not on the Michigan driver's license. But this was figured out.

4

Not Customer Service Driven

Posted by: AvoidCIBC | Oct 30, 2018

I bank all over the USA for the best rates and yields. However, CIBC is my worst experience. Let me tell you why.

1. Trying to establish an external account for payments and transfers has severe limitations. They would not allow me to transfer to another account through the online option, and requested I call customer service. This is one instance they control your money, despite being a liquid SAVINGS ACCOUNT.

2. Closed my account within a month. They dragged their feet for 10 days from initial request to actual close. They would only close my account to the original funding account (which obviously had been closed), and would not transfer to my new account because of (1).

10


Health
A+

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #33306
Year Established1991
Employees1632
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD4.99%
Annual Interest Income$644.5MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$30.86B$26.40B
LoansQ2 2019vs Q2 2018$21.19B$17.79B
DepositsQ2 2019vs Q2 2018$22.40B$18.50B
Equity CapitalQ2 2019vs Q2 2018$6.04B$5.49B
Loan Loss AllowanceQ2 2019vs Q2 2018$249.9MM$108.2MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$223.9MM$126.5MM
Real Estate OwnedQ2 2019vs Q2 2018$657.00K$1.2MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not CIBC USA; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

CIBC USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.05%-$1mCIBC Agility Savings - Online Only

CIBC USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%*$25k*$5m12 Month Agility CD - Online Only
OTHER TIERS: 2.15% → $1k - $25k
2.20%*$25k*$5m9 Month Agility CD - Online Only
OTHER TIERS: 2.10% → $1k - $25k
Locations

Availability

Chicago Area

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