CIBC US $300 Checking Bonus [Nationwide, But Select Employers Only]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Nationwide, but only certain employers
  • Direct deposit required: Yes, two+ within 90 days of account opening
  • Additional requirements: None
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: $25, 90 days
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • CIBC is offering a bonus of $300 when you open a new CIBC Edge Checking Account and complete the following requirements:
    • Receive at least two qualifying direct deposits within 90 days after account opening
  • CIBC edge checking accounts are open to employees of specific employers (no list given)

The Fine Print

  • Offer is valid on new CIBC Edge Checking Accounts.
  • To qualify for the bonus, at least two payroll direct deposits or at least two ACH credit or debit transactions, not including any ACH transactions to initially fund the account, must post to the account within 90 days after the account is opened.
  • The bonus will be credited to a qualifying account by the Payment Date. “Payment Date” means 100 days after account opening.
  • The minimum balance to open the account and obtain the bonus is $50.
  • Bonus is considered interest and will be reported to the IRS. Consult your tax advisor regarding specific tax considerations for your accounts.
  • Only one CIBC Edge Checking Account bonus is permitted per individual household (all individuals with the same address) regardless of the number of accounts that are opened.

Avoiding Fees

This account has no monthly fees to worry about, there is a $25 early account termination fee if the account is closed within 90 days.

Our Verdict

Obviously need to know what employers are eligible and if it’s a soft pull to open, if it is then this seems to be a great bonus but we need more information before we can really say anything. If anybody knows, share in the comments.

Hat tip to reader Sarah C

Useful posts regarding bank bonuses:
    William Charles
  • On June 8, 2018, 10:56

View Comments (121)

  • I originally applied for this account and it went through, then later I was told via email I was denied and my initial $25 deposit was refunded. Well I just received a letter saying I was not eligible for the $300 promotion and my account has been closed, but as a token of good faith I was sent a check for $150 for the inconvenience. Incredible!

  • i rec'd the $150 inconvienience check as well. I wonder if someone complained that it was nationwide and that details were very vague as to the promotional offer. And that the bank felt compelled to spend the $$$ rather then have people call CFPB. Its a theory!

    • CIBC approved an account, withdrew money from my external account. Then within hours of approval but not before they did an external withdrawal, they told me I had been declined, but they had already sent me an approval email along with withdrawal (after trial deposits verified) from my external.
      To me that warranted account approval/opening which completed the requirements for the bonus. I filed a CFPB and within about 10 days CIBC responded with a letter and a check for half the bonus amount. I'll take it. I provided screenshots of emails and external account withdrawal to support my case.

  • Same here - $150 cashier's check in the mail today for the "inconvenience" that I didn't qualify for the account or the $300 bonus. Cool beans.

    • Same here. I did not expect them to do that. $150 is a very kind move on their part. I don’t think most banks would do that.

  • I also got the $150 check in the mail for the inconvenience of opening the account and having it closed by CIBC! Was not expecting that. Easiest $150 bonus I've ever done. For anyone wondering, my account was fully opened and I had just sent in the signature card when I got the notice of closing. They had refunded my initial $50 deposit, but this $150 check was completely unexpected. Good on them

  • CIBC sent me a $150 cashier's check in the mail for the 'inconvenience' in opening the account and then getting it shutdown. Wow I'm happy!

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