CIBC Bank USA is headquartered in CHICAGO and is the 3rd largest bank in the state of Illinois. It is also the 44th largest bank in the nation. It was established in 1991 and as of June of 2024, it had grown to 2,387 employees at 24 locations. CIBC Bank USA's savings rates are 10X the national average, and it has an A health rating.
Related Posts
1/9 - CIBC 12 Month CD Drops To 5.51% APY
11/6 - CIBC Bank Offers $250 or $500 Bonus on Agility Savings Account
11/2 - Agility Savings: Up To $500 Bonus For $50K Deposit
5/25 - CIBC Bank USA Ups 12-Month Agility CD APY To Near Rate Leading Level
6/17 - CIBC Bank USA Hikes Agility Online Savings Rate
4/5 - CIBC US Bank Boosts 12-Month Agility CD APY To Rate-Leader Status
11/2/20 - CIBC Agility High Interest Savings Account: 0.62% APY
7/20/20 - Agility Savings Rate Drops To 1.05% APY
6/26/20 - Review of CIBC's Savings Accounts and CD Rates
6/19/20 - CIBC Drops Agility Savings Rates To 1.15% APY
3/9/20 - CIBC Drops Savings Rates To 1.45% APY
3/6/20 - CIBC Offers Bonus of Up to $400 on Its Agility Savings Account
2/25/20 - $400 Bonus On 50K Deposit
12/21/18 - CIBC Bank Ups Rate On Agility Savings Account to 2.39% APY
12/21/18 - Saving Account Increased To 2.39%
12/20/18 - Less Waiting And Higher Limits For CIBC Agility Savings Account
9/7/18 - CIBC Bank Boosts Rate On Agility Savings Account
6/25/18 - CIBC Bank Introduces Agility Savings Account
6/24/18 - CIBC Savings Rate Increased To 1.9% APY
5/22/18 - Savings Rate Raised To 1.65% APY
3/6/18 - CIBC Has A 2.30% APY Until 3/31/2018. Then .9%.
3/28/17 - 15 Mth Promo CD @ 1.41% APY
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
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
Quickly Becoming One Of My Favorite Hub Banks
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).
Opening Account
Today opened an account in branch this morning ,a 13 month 5.52 % APY , things went like most other banks nothing special you only need a ss card and a state id card to open an account..
The only thing I didn't care for was they did a hard pull on your credit and this is the most imporant part if your credit is frozen they will not allow you to open an account with them so be aware of this if you decide to open an account there that your credit must not be frozen .....
Need More Reviews
While shopping for a bank I came across this one recommended in some comment sections for savings, hub etc.
Not alot of reviews here so I went to trust pilot dot com for cibc and saw over 864 Check out those comments and the agility requirements which are not federal requirements but made up bank policies such as tapping into your credit report, specific ids and other info etc.
This is in regard to savings and cd only not lines of credit credit cards checking or any such items you are giving them money not the reverse.
Research first and carefully check their website you'll be glad you did.
CIBC Approved My Application Then Called To Say A "System Error" Deleted It
I presently have a CIBC US Agility Savings Account and I wanted to open a CIBC US Agility CD. They require the entire application process be completed again.
I unfroze ChexSystems, applied for the CD, verified my info, CIBC US checked my credit, waited two days, two deposits transferred into my account, I verified two deposits through their system, funding is available in my account, a confirmation message appeared with my NEW account number, the CD interest rate, the CD APY, the Maturity term, Interest payment method, Interest payment frequency, and Deposit amount. A note at the bottom confirmed the deposit will be withdrawn from my bank account (my bank was listed by name) and placed into my CIBC account within two days. An email was sent out with the subject "Confirmation: Your new CIBC Agility 12 Month CD Account" and when I run through the verification process again, I get "Funding account already verified. Proceed to the https://us.cibc.com."
Everything was as expected until I received a vague phone call 8 hours later asking me to call CIBC US Digital Support. After 10 minutes on hold and other 4 minutes of verifications, the representative advised a "System Error" has occurred and "Some accounts did not get properly created." They then advised I would need to reapply for a new account.
I asked for a supervisor, none were available. I scheduled a call back, no one called. I called the next day, they read the same "System Error" message as the cause. I asked for a supervisor, they advised one had me on their call list to be called back. At the time of this writing, no one called back.
CIBC US is a disaster completely unprepared for banking. I've read the positive reviews and I am a current customer, however, "System Error" which requires the entire process to be done again from scratch adding an additional 4 days is absolutely unacceptable. If they lower CD rates during this window, would they even honor the original rate? I have no trust in this bank and am presently looking for a new hub.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33306 |
| Year Established | 1991 |
| Employees | 2387 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.66% |
| Return on Equity - YTD | 9.73% |
| Annual Interest Income | $1.69B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $55.87B$51.47B |
| Loans | Q2 2024vs Q2 2023 | $34.59B$33.64B |
| Deposits | Q2 2024vs Q2 2023 | $43.79B$40.03B |
| Equity Capital | Q2 2024vs Q2 2023 | $9.65B$8.68B |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $512.5MM$470.3MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $481.5MM$246.5MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $3.3MM$0 |
