CIBCBusiness Chequing

CIBC Everyday Business Operating Account

Our take: a mid-tier account whose fee disappears entirely if you keep $20,000 on deposit — but read the transaction count carefully, because Interac e-Transfers are counted against your 30 included transactions, which most competitors do not do.

Fee waiver$0 per month if you maintain a $20,000 minimum daily balance throughout the month.

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Our review

CIBC’s Everyday Business Operating Account is a step up from the entry-level plans: $20 a month for self-service access or $25 with full service, waived completely if you keep a $20,000 minimum daily balance. It includes 30 transactions and a monthly deposit package of $3,000 in cash, $300 in coin and 25 cheques. The detail that catches businesses out is that Interac e-Transfers count toward the 30-transaction allowance rather than sitting outside it, so a transfer-heavy month burns through the package faster than the headline suggests.

At a Glance

Monthly fee

$20 / $25

self-service / full-service

Fee waiver

$20,000

minimum daily balance

Included transactions

30 per month

e-Transfers count toward this

Beyond included

$1.00 / $1.25

self-service / full-service

Cash and coin

$3,000 + $300

per month included

Cheque deposits

25 per month

included

Fees confirmed on CIBC’s fees and details page on September 25, 2026.

Pros and Cons

What works

The monthly fee drops to $0 with a $20,000 minimum daily balance, so a business that holds a float can bank free.
A genuine deposit package is included: $3,000 cash, $300 coin and 25 cheques a month.
Receiving Interac e-Transfers is free.
Self-service pricing is cheaper than full-service for businesses that do not need branch help.

What to watch

Interac e-Transfers count against the 30-transaction allowance, which several competitors do not do — this is the single most costly detail to miss.
Sending an e-Transfer beyond the allowance costs $1.50 plus the transaction fee, so you pay twice.
$20,000 is a substantial balance to leave idle just to avoid a $20 fee; at 2% elsewhere that money could earn about $400 a year.
No interest is advertised on the balance, so the waiver costs you the return on the money.

What It Costs

$20 / $25Monthly fee, self-service or full-service

$0If you maintain a $20,000 minimum daily balance all month

30 includedTransactions per month, including Interac e-Transfers

$1.00 / $1.25Each transaction beyond the 30 included

$1.50 + transaction feeEach e-Transfer sent beyond the included quantity

Weigh the waiver honestly: parking $20,000 to avoid $240 a year in fees is only worth it if that money has nowhere better to go. An account paying 2% on the same balance would return roughly $400.

How Your Money Is Protected

CIBC is a CDIC member institution. Eligible deposits are insured by the Canada Deposit Insurance Corporation up to $100,000 per depositor, per insured category.

Who It’s For

A good fit if

You comfortably keep $20,000 or more in your operating account and want to bank without fees.
You deposit cash and cheques regularly and want an allowance included rather than charged per item.
Your monthly transaction count sits comfortably under 30 including e-Transfers.

Look elsewhere if

Your balance runs below $20,000 — you will pay $20 to $25 a month on a fairly modest transaction package.
You send a lot of e-Transfers; they consume the allowance and then cost $1.50 plus a transaction fee.
You would rather earn interest on a $20,000 balance than use it to waive a $240-a-year fee.

Not Sure? Accounts People Compare It With

RBC Digital Choice Business Account

Pick this instead if you would rather pay $6 with unlimited electronic transactions than hold $20,000 to avoid a fee.

Fee $6/mo10 free e-Transfers, unlimited electronic

BMO Essential Business Account

Pick this instead if you want the lowest flat fee and a good cash deposit rate without tying up a balance.

Fee $5/moCheapest big-bank plan, 6 e-Transfers

Venn Business Account

Pick this instead if you want that $20,000 earning 2% instead of sitting idle to waive a fee.

Fee $0/mo2% interest, free e-Transfers both ways

CIBC Everyday Business Operating Account

Fees confirmed September 25, 2026

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Jen, founder of MoneyMint

Reviewed by Jen. We verify every rate, fee and account term against the institution’s own published material before we publish it, and we re-check on a set schedule.

Fees and account terms in this review were confirmed on the institution’s own site on September 25, 2026. MoneyMint does not currently have an affiliate relationship with this institution. Account fees and features change without notice — confirm current terms on the institution’s own page before you open an account. This is general information, not financial, legal or tax advice.

Frequently Asked Questions

How do I avoid the monthly fee on this account?

Keep a minimum daily balance of $20,000 throughout the month and CIBC waives the fee entirely. If the balance dips below $20,000 on any day, the $20 or $25 fee applies for that month.

Do Interac e-Transfers count as transactions?

Yes, and this is the detail most comparisons omit. CIBC counts e-Transfers within the 30 included transactions. Once you exceed the allowance, sending a transfer costs $1.50 plus the per-transaction fee, so you are charged twice for the same transfer.

Is holding $20,000 to waive the fee a good idea?

It depends on what else that money could do. The waiver is worth $240 a year. The same $20,000 in a business account paying 2% would earn about $400 a year before tax. If your business can spare the cash either way, compare the two directly rather than assuming a waived fee is free.

What deposits are included each month?

Up to $3,000 in cash, $300 in coin and 25 cheques deposited per month. Beyond those amounts, deposits are charged per $1,000 under CIBC’s business fee schedule.

What is the difference between self-service and full-service?

Self-service access costs $20 a month and prices additional transactions at $1.00; full-service costs $25 a month with additional transactions at $1.25. Full service covers transactions completed with branch assistance.