article-2547612-1B08454E00000578-923_634x417I still remember the first time I opened my own personal chequing account at the ripe and ambitious age of 15, all on my own.  I finally landed my first “real” part-time job (outside of my dads assistance and work) and started to see a more independent and steady cash flow.
At that age, money would come out as quickly as it would come in (well, at this age now with all the bills, it can feel like that now sometimes too!)
My parents always taught me the importance of savings, and obviously at fifteen, saving money did not come as easy as I would have wanted it too.
When I finally started grasping the concept and importance of monetary provisions, it wasn’t until I was in my early twenties, paying off college student loans and paying rent! Yes, reality check hits you hard when those responsibilities start to creep in.
Early preparation and financial restraint is key.  But I started noticing a trend with my banking throughout the years — I was losing my own hard-earned money just from fees alone!  What’s up with that?  

As the years progressed, and especially when I started my own business, the one thing that was used the most often and essential in my day-to-day was my banking.


Having the right bank and services that are conformable and convenient to your independent banking needs is vital. I’ve had my share of bad banking experiences, most of which included the ridiculously large (and often hidden) fees.

This is why I was really impressed and intrigued with CIBC’s new Smart™ Account.

CIBC’s newest bank account automatically adjusts to a client’s needs with lower fees in months where clients’ banking needs are less. Amazing! Where was this account years ago? I would have saved so much more money.

unspecifiedThe CIBC Smart Account monthly fee starts at just $4.95 for up to 12 transactions and caps at $14.95 for unlimited everyday banking transactions, which now includes Interac e-Transfers. This account is the first of its kind to offer unlimited Interac e-Transfers.

The monthly fee is waived by maintaining a minimum daily balance of $3,000 and having a recurring direct deposit or two pre-authorized payments each month.

I have always done a lot of e-transfers, whether for family or friends, or for business transactions; it’s actually my preferred method for payments (both for sending and for receiving) because it’s a quick direct deposit and so convenient.

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According to a CIBC poll, among Canadians who have sent an Interac e-Transfer, 61 per cent would send more if there were no associated extra fees.

More than half of the Canadians who have sent an Interac e-Transfer limited their use of the service because of the extra fees.

This is true!  There were times I’ve had to pay more than 10 folks at once and eventually had to resort to standard cheques because of the fees associated with e-Transfers.  

With the Smart™ Account, unlimited Interac e-Transfers® are included so you can send money quickly and easily by email.  

cq5dam.web.1900.1900And if you’re like me, I do mostly everything from my smartphone.

Great thing is that customers can now actually open a Smart™ Account without going into the banking centre via the CIBC app!

I really am digging this.
With two kids and my really hectic and unpredictable schedule, getting into a bank and going through the process in person (kids in tow!) is no easy task.

I always appreciate it when a business actually listens to their customers and takes that feedback to continuously improve, find ways to make it easier and more cost-effective and then brings it to fruition.  

Learn more about CIBC’s Smart™ Account by visiting them online at

Isn’t it about time that your banking adjusts to you and your needs and not the other way around?

Do you do a lot of e-Transfers or have had issues with having to pay ridiculously high banking fees?  

Disclosure:  This is a sponsored post in collaboration with CIBC.  All personal opinions are those of the author.

2 Comments on Flexible. Convenient. Smart. Hello CIBC Smart™ Account

  1. We don’t bank with CIBC but it does sound like this account has a lot of great features. Got to love being able to do e-transfers!

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