CIBC USA is headquartered in Chicago and is the 3rd largest bank in the state of Illinois. It is also the 63rd largest bank in the nation. It was established in 1991 and as of September of 2019, it had grown to 1,678 employees at 26 locations. CIBC USA's savings rates are 4X the national average, and it boasts an A+ health rating.
Related Posts
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%.
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
Opened An Account
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.
Too Many Restrictions
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.
This Bank Is Missing Out On Clients.
I have a Canadian account with CIBC and was always very satisfied with their service. So it was exciting to open up a CD in the US with them. We literally tried 6 times to open a joint account and were denied every time. They cannot divulge the reasons but state it is third party identification. What.....! We have many other options without a problem. In the end it turned out a blessing as we found a Bank Live Oak in North Carolina with fantastic service and better interest. Do not waste your time here.
Not Customer Service Driven
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).
Stay Away Until They Get Their Act Together
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.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33306 |
| Year Established | 1991 |
| Employees | 1678 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.07% |
| Return on Equity - YTD | 5.42% |
| Annual Interest Income | $979.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $31.74B$27.09B |
| Loans | Q3 2019vs Q3 2018 | $22.26B$18.34B |
| Deposits | Q3 2019vs Q3 2018 | $23.17B$18.89B |
| Equity Capital | Q3 2019vs Q3 2018 | $6.14B$5.54B |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $262.4MM$152.4MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $197.6MM$173.6MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $482.00K$623.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.85% | - | $1m | CIBC Agility Savings - Online Only |
CIBC USA CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.90%* | $25k* | $5m | 12 Month Agility CD - Online Only | ||
| OTHER TIERS: 1.85% → $1k - $25k | |||||
| 1.85%* | $25k* | $5m | 9 Month Agility CD - Online Only | ||
| OTHER TIERS: 1.80% → $1k - $25k | |||||
