Download Changes to CIBC Business Bank Accounts and Fees (effective April

At CIBC, we are committed to helping you choose the right
accounts and services to meet your business banking
needs and to keeping you informed of any changes to
your business bank accounts. This brochure summarizes
changes that will take effect on April 1, 2016, unless
otherwise indicated in your written agreement with us.
Changes to CIBC
Business Bank
Accounts and Fees
By continuing to use your business bank account or
safety deposit box after the changes take effect, you are
accepting these changes. Of course, you have the option
to cancel your account or safety deposit box without cost
within 30 days of the changes taking effect by contacting
your CIBC business advisor or calling telephone banking
at 1 800 465-CIBC (2422). If you choose to cancel your
account or safety deposit box, you remain responsible for
and must repay all amounts outstanding on your account
on the date of cancellation.
If your business bank account no longer suits your needs,
we can help you choose the account or service that is right for
you. Your CIBC business advisor is committed to working
with you and can evaluate your current banking options to
ensure you are using them in an efficient manner.
We appreciate your business and look forward to
continuing to meet your financial needs.
Changes to CIBC Business Account Service Fees
Transaction2 Fees
The following transaction fees are charged for each
transaction made over and above the number of
transactions included in your monthly account fee.
Account Type
• CIBC Everyday Business
Fee until
March 31, 2016
Fee as of
April 1, 20161
Effective April 1, 2016
What’s inside…
For more information
talk to a CIBC business advisor
visit your nearest branch
visit cibc.com/businessbanking
call 1 800 465-CIBC (2422)
New fee schedule applies as follows: in most cases, transactions done at
a branch or bank machine after 6:00 p.m. local time on March 31, 2016
will have a transaction date of April 1, 2016. Transactions done at a branch
or bank machine after 9:30 p.m. local time on March 31, 2016 will be
processed on April 1, 2016. Transactions done through Telephone or Online
Banking after 6:00 p.m. (Eastern Standard Time) on March 31, 2016 will
have a transaction date of April 1, 2016.
1
2
Transactions include any debits and credits to your account (excluding
CIBC interest credits and fee debits). Debits include, without limitation,
withdrawals, cheques, pre-authorized payments, bill payments, Interac
e-Transfer payments, direct deposits and transfers to other accounts.
Credits include, without limitation, deposits, pre-authorized payments,
bill payments, Interac Direct Payments, Interac e-Transfer payments,
and direct deposits and transfers from other accounts (except transfers
CIBC business accounts). Additional charges may apply including, without
limitation, Interac e-Transfer, “Item Deposited” and “Currency Supplied”
fees where applicable.
3
Self-service refers to transactions performed through a Bank Machine,
Point of Sale terminal, Wallet Depository Service, CIBC Telephone Banking
Automated Service, CIBC Business Contact Centre Automated Service,
CIBC Online Banking, CIBC Cash Management Online®, CIBC eDeposit for
cash, or CIBC eDeposit for cheques.
4
Full-service refers to transactions performed either in a CIBC Branch,
through a CIBC Telephone Banking representative or through a CIBC
Business Contact Centre representative.
5
Corresponding bank may levy additional charges.
Operating Account®
• CIBC Basic Business
Operating Account®
• CIBC Not-for-Profit
Operating Account
• CIBC Business
$1.00
Operating Account
for Commercial/Large
Corporate Clients
$1.00
for self-service­3
$1.25
for full-service4
• CIBC U.S. Dollar
Current Account
• CIBC Business
Investment Growth
Account®
$1.00 per credit
$5.00 per debit
$1.00 per credit
for self-service3
$1.25 per credit
for full-service4
$5.00 per debit
CIBC Cube Design & “Banking that fits your life.” are trademarks of CIBC.
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Changes to:
CIBC Business Bank Accounts and Fees
CIBC Cash Management Service Fees
CIBC Business Account Operating Terms
and Agreements
Accounts No Longer Offered
Additional Services and Charges
Fees are applied in Canadian dollars except for U.S. dollar
accounts where fees are charged in U.S. dollars.
Everyday Transactions
Fee until
March 31, 2016
Fee as of
April 1, 20161
Record-Keeping
• Printed statement
$3.00
$3.50
Items Deposited*
• Cash deposited –
bills (per $1,000)
$2.25
$2.25 for self-service3
$2.50 for full-service4
• Coin deposited
$2.25
$2.25 for self-service3
$2.50 for full-service4
CIBC Business Operating Account for Small Business Clients
Account Plan
Pay As You Go
• Monthly account fee
• Each transaction
Fee until
March 31, 2016
Fee as of
April 1, 20161
$7.00
$1.00
$8.00
$1.00 for
self-service3
$1.25 for
full-service4
(per $100)
Transfers Between
Your Accounts*
$0.00
$0.00 for self-service3
$5.00 for full-service4
*In addition to transaction fee, if applicable.
2
• When requested
Fee until
March 31, 2016
Fee as of
April 1, 20161
$10.00
$15.00
$15.00
$20.00
by a payee (cheque
recipient)
$12.00
$21.00
Account Plan
Fee until
March 31, 2016
Fee as of
April 1, 20161
$1.00
$1.00 for
self-service3
Fee as of
April 1, 20161
Price/Year*
Flat Fee Package
• 10 transactions
• 20 transactions
$12.00
$21.00
Change
Business
Banking
Agreement
Section I Changes include clarification of when
CIBC may close your account; your liability
in the event CIBC incurs damages, losses or
costs in the operation of your account; the
rules, regulatory requirements and consents
applicable to the transfer, receipt and remittance
of funds; and the ability to deliver notice or other
communications to you by internet e-mail or
online through CIBC Online Banking® or CIBC
Cash Management Online®.
$13.00
$22.00
Transaction fee
Fee until
March 31, 2016
Fee as of
April 1, 20161
$1.00
$1.00 for
self-service3
$1.25 for
full-service
Price/Year*
1 ½” x 5” x 24”
$50
$55
2 ½” x 5” x 24”
$65
$75
3 ¼” x 5” x 24”
$65
$80
5” x 5” x 24”
$125
$135
2 ½” x 10 ⅜” x 24”
$125
$150
5” x 10 ⅜ “ x 24”
$250
$300
10” x 10 ⅜” x 24”
$300
$350
Amend
Agreement
$1.25 for
Safety Deposit Boxes
• Recall, Trace and
These changes will also make the sign-up and
implementation process faster and more convenient when
you apply for access to new electronic platforms, such as
CMO and related cash management services such as Wire
Payments and Electronic Fund Transfers (EFT).
Section IV Cash Management Service terms and
conditions have been added to the CIBC Business
Account Operating Terms and Agreements. If
you do not already have a Cash Management
Agreement with CIBC, then Section IV terms
and conditions will apply to Cash Management
products and services you may request.
CIBC Professional Edge® Account
Fee until
March 31, 2016
Wire Payment
Investigation Fees5
The following changes will apply to all CIBC Business Banking
clients. These changes will allow us to communicate better
with you through secure and convenient electronic methods,
such as email, or through CIBC Online Banking or CIBC Cash
Management Online (CMO).
full-service4
Other Services
Box Size
$13.00
$22.00
CIBC Business Operating Account for Small Business Clients,
Additional Option
Pay As You Go
• Each transaction
Cheque Transactions
Cheque Certification
• When requested by a
payor (cheque issuer)
Flat Fee Package
• 10 transactions
• 20 transactions
Changes to CIBC Business Account Operating Terms
and Agreements
Price/Payment
Price/Payment
$11.00
$35.00
Note: Wire amendment fees may apply to both incoming and outgoing
wire payments.
*Plus applicable taxes.
4
Changes to CIBC Cash Management Service Fees
Rapidtrans
Applies to each
deposit into a
Rapidtrans account
• Transaction fee
Fee until
March 31, 2016
Fee as of
April 1, 20161
$1.00
$1.00 for
self-service3
$1.25 for
full-service4
Note: The Rapidtrans Transaction fee applies in addition to the standard
Rapidtrans service fees, unless otherwise stated in your written agreements
with us. For accounts not previously charged this fee, the above standard fee
will now apply. The fee is paid through the associated billing account, not the
Rapidtrans account directly.
Channel
Service
Agreement
Channel Service Agreement has been added
to the CIBC Business Account Operating Terms
and Agreements brochure. These terms and
conditions apply to your access to and use of
Cash Management channels, including CIBC
Online Banking or CIBC Cash Management Online.
To review the changes, please obtain the revised CIBC
Business Account Operating Terms and Agreements
brochure at any CIBC branch or by contacting your CIBC
business advisor as of April 1, 2016.