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 4X the national average, and it boasts an A+ health rating.
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).
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.
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.
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 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!
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.
|FDIC Certificate #||33306|
|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|
Always verify rates and promotions with the bank or credit union. We are not CIBC Bank 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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.32%||$1||$1m||CIBC Agility Savings - Online Only|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|3.01%*||$25k*||$5m||12 Month Agility CD - Online Only|
|OTHER TIERS: 2.96% → $1k - $25k|
|2.96%*||$25k*||-||18 Month Agility CD - Online Only|
|OTHER TIERS: 2.91% → $1k - $25k|
|1.75%*||$25k*||-||30 Month Agility CD - Online Only|
|OTHER TIERS: 1.70% → $1k - $25k|
|1.65%*||$25k*||-||24 Month Agility CD - Online Only|
|OTHER TIERS: 1.60% → $1k - $25k|
|1.35%*||$25k*||$5m||9 Month Agility CD - Online Only|
|OTHER TIERS: 1.30% → $1k - $25k|