Deal has now ended, view more checking deals by clicking here
Update: Looks like it’s not available at all branches but also available at the 4007 W Touhy Ave, Lincolnwood, IL 60712 branch as well.
Offer at a glance
- Maximum bonus amount: $400
- Availability: Might be available at 3010 S Kedzie Ave, Chicago, IL 60623 branch only – might be available at all branches?
- Direct deposit required: Direct deposit or ACH automated debit transaction
- Additional requirements: eStatements
- Hard/soft pull: Soft pull
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: None
- Early account termination fee:
- Household limit: None listed
- Expiration date: December 31st, 2019
Contents
The Offer
No direct link, offer is available in branch
- CIBC is offering a $400 checking bonus when you open a new iCan or MyChoice account in branch when you meet the following requirements:
- Receive at least one direct deposit or ACH automated debit transaction
- Elect to receive electronic statements
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Looks like all the checking accounts are now fee free.
Early Account Termination Fee
There is a $25 early account termination fee if the account is closed within 90 days.
Our Verdict
Normally the bonus is only $200, this $400 bonus might be just be for this branch but it’s also possible it’s available at all branches. If anybody tries any other branches, let us know in the comments. I’ll add this $400 bonus to the best checking bonus page.
Hat tip to reader barber404
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
