Update 6/2/26: This can now be opened online, possibly nationwide. It also now requires a recurring direct deposit. Hat tip to the reader Pickle Rick
Update 5/12/26: Many branches have closed. Now there is one in FL, MI and MO, and four in IL. Hat tip to the reader RM
Update 2/22/24: CIBC now has branches in CA (SF) and FL (Palm Beach). Hats off to him RM
Update 5/15/23: The deal is back. Hats off to him Tom
Offer at a glance
- Maximum bonus amount: 200 dollars
- Availability: In branch only, branches are in IL, MI, MO & WI (Branch locations)
- Direct deposit required: Yes, $500+ per month for three months
- Additional requirements: eDeclaration
- Hard/soft pull: Gentle pull
- ChexSystems: yes
- Credit card financing: ANY
- Monthly fees: ANY
- Early account closure fee:
- Family boundary: None listed
- Expiration date: December 31, 2019
Offers
- CIBC offers a $200 checking bonus when you open a new CIBC iCan or myChoice Prestige Checking account when you meet the following requirements:
- Open an account with a minimum of $50+
- Make qualifying direct deposit(s) of $500 or more each month into your account for three (3) consecutive calendar months following the calendar month your account was opened.
- Choose to receive electronic statements
Fine Press
- Bonus will be posted within 100 days of account opening if requirements are met
- The account must remain open on the payment date to receive the bonus
- Only one customer checking account bonus is allowed per person, regardless of the number of Accounts opened with CIBC Bank USA
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
iCan checking has no monthly fees.
Early account termination fee
There is a $25 early account termination fee if the account is closed within 90 days.
Our verdict
We previously posted another one CIBC US deal for $300 that could be opened online, but was only available to certain employer groupers. Some people had to sign up anyway and then their accounts were closed, but CIBC sent them a $150 check for the inconvenience. That’s always a good sign in terms of customer service in my opinion. This should be open to anyone who can go to a branch, even if you live overseas. Definitely worth doing if you are in the area as it seems every ACH will trigger the direct deposit request. I have added it to the best bank bonus page.
Big thanks to reader Jason for letting us know. Learn how to find bonuses and contribute to the site here.
Useful posts about bank bonuses:
Post History:
- Update 8/4/19: The bonus is back for 2019.
