CIBC USD account overview
You can store your USD in a savings account and enjoy no monthly fee and a daily interest calculation!
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Why bank with CIBC?
CIBC USD Account
The CIBC US Dollar account is among one of the top USD accounts for Canadians. It’s a great choice for saving your US dollars or depositing money that you are paid in USD. If you open the CIBC USD account you will not need to exchange your cash to Canadian dollars, and this is a big benefit if the exchange rates aren’t in your favour.
With CIBC you can benefit from a great interest rate and no need to have a minimum balance. Keep reading to find out everything you need to know about the CIBC USD account and how it can help you.
With CIBC you can benefit from a great interest rate and no need to have a minimum balance. Keep reading to find out everything you need to know about the CIBC USD account and how it can help you.
How to Create a USD account with CIBC
Signing up for a USD account with CIBC can be done in five minutes online:
Step 1: Fill in your name, making sure it matches the information on your ID document.
Step 2: Enter your birth date, email address and phone number.
Step 3: Fill in your address using the address lookup tool.
Step 4: Enter your Social Insurance Number (SIN).
Step 5: Confirm your taxpayer status, including if you are a tax resident of Canada, the US and/or any other country.
Step 6: Enter work information including your job title.
Step 7: Verify details about your savings account including its purpose and what form you want to receive statements in.
Step 8: Finally, review the legal agreements attached to the account.
Step 9: After clicking submit, you will have your CIBC debit card mailed to you. Opening the account is subject to a credit check, which you will give consent to by submitting the application.
Step 1: Fill in your name, making sure it matches the information on your ID document.
Step 2: Enter your birth date, email address and phone number.
Step 3: Fill in your address using the address lookup tool.
Step 4: Enter your Social Insurance Number (SIN).
Step 5: Confirm your taxpayer status, including if you are a tax resident of Canada, the US and/or any other country.
Step 6: Enter work information including your job title.
Step 7: Verify details about your savings account including its purpose and what form you want to receive statements in.
Step 8: Finally, review the legal agreements attached to the account.
Step 9: After clicking submit, you will have your CIBC debit card mailed to you. Opening the account is subject to a credit check, which you will give consent to by submitting the application.
Key features
The CIBC USD account allows you to easily save, deposit, and withdraw your US currency. Here are some of the key features:
No need to maintain a certain balance
Easy and quick access to your funds
Interest earned on every dollar
Smart Balance Alerts
Account Highlights
Monthly fees
CIBC charges ZERO monthly fees.
Interest rate
Account holders benefit from a rate of 0.05%.
Minimum Balance
There is no minimum balance for the CIBCUS dollar account.