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
This is now active again, no expiration, also available in MI: https://us.cibc.com/en/personal/checking.html
Looks like only $200?
Did anyone else who opened this account receive an email about a $100 referral offer for referring family and friends?
Called to close, but was specifically directed to send a Secure Message via online banking to request closure.
11/25/2019 opened
02/26/2020 advice of credit 400
Has anyone received the bonus on this yet?
I opened the account 2 months ago, but have not seen the bonus yet
I just read the terms I was giving from the bank. It says the bonus will be paid 100 days from account opening… on that day.
So I guess we’ll wait and see 🙂
Thanks for sharing!
yes
opened account 10/15
multiple bi-weekly payroll deposits beginning 10/25, ending 1/3
received bonus on 1/15
Which branch did you open the account at? the 2 branches technically had separate bonus terms even though they were both for $400.
Kedzie
Has anyone gotten a second bonus from CIBC? I just had my $200 bonus from the previous offer post today. That one had language saying “One bonus per person”, I don’t see that here. No restrictions on time since closing a previous account, and my ETF period has already passed.
I was able to get a 2nd bonus, first was summer 2019, second was March 2020.
DP:
Out of state allowed
Household limit of 1
Did this offer in the Lincolnwood Branch. It was straight forward, and I had no issues with my out of state drivers license. I mentioned I had family in town and come to Chicago all the time. I did show up with P2 and we were told only 1 per household. We even tried to use a 2nd address we have but she wouldn’t budge. This seemed like an unofficial thing, so ymmv. I have no doubt if p2 walked in randomly and another banker was there, and they opened the account, that we could both get the bonus.
When i mentioned that my sister and husband both did it with no issue at the Kenzie location, i was told that is a different bonus offer. Even though the terms are essentially the same, that one is for their branch opening, and this one in Lincolnwood is for their 5 year anniversary.
I have a feeling both offers are YMMV when it comes to 2 people signing up in the same household at once,
Just spoke to Beverly at their Oakbrook branch. She looked up this promotion and stated: It’s only available at the new branch on S. Kedzie (Chicago).
Isn’t S Kedzie where all the shooting happen? Someplace on the south side….
ya little village isn’t the best neighborhood but it’s not really the typical chicago south side area you’re thinking of.
I wouldn’t be worried of driving there to park and sign up in branch then leave. but wouldn’t want to walk around in that neighborhood for a long time.
curious if any chicago area people go to that branch to do this please report how the experience was and if any issues signing up
Many banks now have bullet proof glass, you may want to call them and ask before you visit.
The South Side of Chicago isn’t a good destination for the faint of heart.
If I do this deal in-person, I will report my experience.
some of you really need to get out of your cloistered suburban bubbles. no its not Kenilworth, but plenty of normal working class people live out their lives in places that arent. get your 400 bucks and then rather believing everything you hear on the nightly news, go get some al pastor or talamles and champurrado on 26th street around the corner and realize most people are no different than yourself. is it perfect? no, and america isnt perfect! source: this is my neighborhood, and proud to say so. you may not mean to be insulting, but please think about the way you come off when talking about what amounts to people’s homes.
Thank you, hero. my god these nerds.
So..did you do this deal @ the nearby branch? Were you in/out in 30 minutes?
yes. super painless and quick. the first thing the personal banker asked me when i sat down with her was “so, here for the 400 bucks? ok heres the deal”. the thing im not 100% sure of is if you need to present a targeted mailer or not (i had one, but they may also just be offering it to anyone who walks in during the promotional period. may want to confirm before heading down)
FYI: https://wgntv.com/2019/11/01/person-of-interest-idd-in-halloween-shooting-of-7-year-old-girl-in-little-village/
Another reason to do this deal at the Lincolnwood branch.
https://www.newyorkbagelandbialy.net/
Have you opened the account without mailer? Thx.
Spoke via phone with Banker Barry @ L’wood branch today. Verified offer. No mailer required.
74,000 people live there. It’s a dense urban environment. If you think you’re going to live in any real city and never see or hear about any crime then stay in your suburbs.
La Villita is fine.
Jesus christ, “where all the shooting happens”. I used to work in La Villita. Spent all day dodging bullets, tanks rolling through, air strikes, the whole nine.
Believe it or not you’re not gonna get shot the moment you cross Roosevelt.
Strange bank; requirements on their website include being Canadian (Canadien?), yet they have branches here in Chicago. Plus they describe their account as “Chequing”…hmmmm
Its a Canadian bank so their regular website is cibc.com — their US banking website is us.cibc.com
The 400 dollar bonus is only for that branch. I confirmed it with corporate. I tried to get them to up the 200 bonus I’m getting soon to 400 with no luck.