CIBC Business Accounts: Choose the Right Operating Account
Every Canadian business needs a reliable operating account. CIBC offers four distinct tiers engineered for different transaction volumes, cash flow patterns, and growth stages.
Compare All CIBC Business Operating Accounts
Each account includes CIBC Smart Banking access, Interac e-Transfer, and mobile cheque deposit as standard features.
| Feature | Basic | Everyday | Advanced | Unlimited |
|---|---|---|---|---|
| Monthly Fee | $6.00 | $35.00 | $65.00 | $125.00 |
| Included Transactions | 15 | 60 | 150 | Unlimited |
| Additional Transaction Fee | $0.65 | $0.50 | $0.35 | N/A |
| Free Interac e-Transfers | 2/month | 15/month | 50/month | Unlimited |
| CIBC Smart Banking | ✓ | ✓ | ✓ | ✓ |
| Mobile Cheque Deposit | ✓ | ✓ | ✓ | ✓ |
| Overdraft Protection | — | ✓ | ✓ | ✓ |
| Dedicated Advisor | — | — | ✓ | ✓ |
| USD Sub-Account | — | — | — | ✓ |
| Free Personalized Cheques | — | — | ✓ | ✓ |
| Waived Fee Threshold | $3,000 | $15,000 | $40,000 | $80,000 |
| Best For | Sole Proprietors | Growing SMEs | Established Firms | High-Volume Ops |
Explore Each Account in Detail
Basic Operating Account
Designed for sole proprietors, freelancers, and micro-businesses processing fewer than 15 transactions per month. The lowest monthly fee with full CIBC Smart Banking access makes this the ideal starting point for new ventures.
View Details →Everyday Operating Account
Built for growing small businesses that need more transaction capacity without overpaying. Includes 60 monthly transactions, 15 free Interac e-Transfers, and eligibility for overdraft protection.
View Details →Advanced Operating Account
For established businesses requiring higher transaction volumes and personalized banking. Includes 150 transactions, a dedicated CIBC business banking advisor, free personalized cheques, and priority service queuing.
View Details →Unlimited Operating Account
The premium tier for high-volume operations that cannot afford to count transactions. Unlimited everything — transactions, e-Transfers, and cash deposits — plus an integrated USD sub-account and dedicated relationship manager.
View Details →Standard Features Across All Business Accounts
Regardless of which tier you select, every CIBC business operating account comes with a core set of digital tools and banking capabilities.
- Full CIBC Smart Banking platform access — online and mobile
- Interac e-Transfer send and receive functionality
- Mobile cheque deposit through the CIBC business app
- Automated recurring payment scheduling
- Real-time transaction notifications and alerts
- Integration with QuickBooks, Xero, Sage, and FreshBooks
- Multi-user account access with role-based permissions
- 256-bit encryption and multi-factor authentication
How to Open a CIBC Business Account
Getting started takes less than 20 minutes through any of these three channels.
Apply Online
Complete the digital application through CIBC Smart Banking. Upload your business documents, verify your identity, and receive approval — often within 24 hours.
Visit a Branch
Walk into any CIBC banking centre with your business registration, two forms of ID, and a void cheque. Our in-branch advisors will have your account active the same day.
Call an Advisor
Phone 1-800-465-2422 to speak with a business banking specialist who can guide you through the account selection process and initiate your application by phone.
Business Account Questions
The right account depends on your monthly transaction volume. If you process fewer than 15 transactions per month, the Basic Operating Account keeps costs low. Businesses handling 15 to 60 transactions benefit from the Everyday account. Companies processing 60 to 150 transactions should consider the Advanced account with its dedicated advisor. For operations exceeding 150 monthly transactions, the Unlimited account eliminates per-transaction costs entirely.
Yes. You can upgrade or downgrade your business account tier at any time through CIBC Smart Banking, by calling our business banking line, or by visiting a branch. The change takes effect on your next billing cycle. There are no switching fees, and your account number remains the same.
Each account tier has a minimum balance threshold that, when maintained, waives the monthly fee. For Basic, it is $3,000. For Everyday, $15,000. For Advanced, $40,000. For Unlimited, $80,000. The balance is calculated as the average daily closing balance during the statement period.