Fee refund · Canada
How to get a CIBC fee refunded
The short answer
CIBC lists a $10 NSF fee (not charged more than once in 2 business days on the same account, or when you’re overdrawn by less than $10) and a $5 charge plus 21% interest when it lets you overdraw without Overdraft Protection. The CIBC Smart Account costs $16.95 a month, rebated with a $4,000 end-of-day balance every day of the month.
To ask for a fee back, contact CIBC soon after it posts, name the fee, its date and amount, and ask for a one-time courtesy refund. CIBC decides — it isn’t guaranteed.
By Meet PandyaChecked Source: CIBC Personal Deposit Account Agreements and Disclosures (October 1, 2026)
CIBC’s common fees
From CIBC’s official fee schedule, in Canadian dollars. Fees below are for CIBC Smart Account, CIBC Everyday Chequing Account.
| Fee | Amount | How to avoid it |
|---|---|---|
| Non-sufficient funds (NSF) fee | $10.00 each time a payment item is presented or re-presented for payment (Canadian dollar personal deposit accounts)[1][3][4] | CIBC says it won’t charge an NSF fee on the same deposit account more than once within 2 business days, or if the account is overdrawn by less than $10.00. CIBC says Overdraft Protection (subject to credit approval) helps you avoid declined transactions and NSF fees. |
| Overdraft fee without Overdraft Protection | $5.00 charge, plus interest at CIBC’s overdraft rate (currently 21% a year), when CIBC chooses to process a debit that overdraws your account (based on end-of-day balances)[1] | CIBC says that if it allows such a debit, it has no obligation to do so again. Optional Overdraft Protection is the alternative. |
| Overdraft Protection (optional) | Monthly Fixed Fee: $5.00 a month. Pay Per Use: $5.00 for each business day an overdraft is created or increased. Both plus 21% annual interest on the overdraft. Limits from $100 to $5,000, subject to credit approval.[1][4] | The Monthly Fixed Fee doesn’t apply to Quebec residents, and Pay Per Use isn’t available to them. The Monthly Fixed Fee also doesn’t apply on up to 3 CIBC Smart Accounts in Tier 3 ($100,000 or more in average monthly eligible balances). |
| Monthly fee - CIBC Smart Account | $16.95 per month for up to 3 Smart Accounts (unlimited transactions, including Interac e-Transfers)[1][2] | Rebated when you keep an end-of-day balance of at least $4,000 every day of the month in one CIBC Smart Account. $0 automatically with $40,000 or more in average monthly balances of eligible CIBC deposits and investments (Tiers 2 and 3). The fee is also rebated with CIBC Smart Start (age 24 and under), CIBC Smart for Students, CIBC Smart for Seniors (65 and older), the RDSP rebate (proof at a Banking Centre) and, for a limited time, for eligible newcomers. |
| Monthly fee - CIBC Everyday Chequing Account | $4.00 per month (18 transactions included)[1][5] | Clients 65 and older get a $4.00 monthly fee discount, so there’s no monthly fee for up to 18 transactions. |
| Transaction fee over the monthly limit | $1.25 for each transaction over 18 on CIBC Everyday Chequing; none on the Smart Account (unlimited transactions)[1][5] | Interac e-Transfer fees are waived on Everyday Chequing, but each e-Transfer you send counts as a transaction. |
| Non-CIBC ATM fees | $2.00 each at a non-CIBC bank machine in Canada (Interac); $3.00 each in the U.S. and $5.00 each elsewhere (Plus and Visa networks), plus a 2.5% administration fee on the converted amount outside Canada[1] | The Smart Account rebates 1 non-CIBC ATM withdrawal in Canada each month; in Tiers 2 and 3 it rebates unlimited non-CIBC ATM withdrawals in Canada, the U.S. and abroad. |
| Foreign currency debit purchases | 2.5% administration fee on the converted Canadian dollar amount of debit purchases made in U.S. or other foreign currency[1] | — |
CIBC’s overdraft rules
- Federal rules in force since March 12, 2026 cap NSF fees on personal deposit accounts at federally regulated banks at $10, allow no more than one NSF fee per account within 2 business days, and allow none when the account is overdrawn by less than $10 (Financial Consumer Agency of Canada).
- CIBC says its overdraft interest rate is currently 21% a year, calculated and debited monthly based on the final daily indebtedness in the account.
- CIBC Overdraft Protection limits range from $100 to $5,000, subject to credit approval.
- If you have Overdraft Protection and CIBC processes a debit that takes you to or past your limit, you pay a $5.00 Over Limit Fee plus interest, on top of your fee option (not for Quebec residents). CIBC says that if it allows such debits, it has no obligation to do so again.
How to ask for a courtesy refund
General tips — not bank policy. What works is being specific, honest and brief.
- Ask soon after the fee posts, and name it exactly: the fee, its date and the amount.
- Say briefly what happened — a deposit that hadn’t cleared yet, a timing mix-up, a first slip in years. Keep it honest.
- Ask for a one-time courtesy refund of that fee. If you’ve banked there a long time or rarely pay fees, it’s fair to mention it.
- Be polite and brief. If the answer is no, ask whether there’s a way to avoid the fee next time — low-balance alerts, overdraft settings, or a different account.
- Banks decide case by case. A refund once doesn’t mean you’ll get one again, and nothing guarantees one.
How to contact CIBC
As listed on CIBC’s own website.
- Phone (Telephone Banking): 1-800-465-2422 (English) or 1-888-337-2422 (French), for day-to-day, online and mobile banking in Canada and the U.S.; TTY 1-800-465-7401.[6]
- Phone (credit cards): 1-800-465-4653 for general credit card support in Canada and the U.S.[6]
- Chat: CIBC’s contact page offers automated answers in a chat window, and more personalized help from its virtual assistant when you sign on to online banking.[6]
- Meeting or branch: Book a meeting to talk to CIBC’s experts in person, or find a banking centre.[6]
Wally, your AI money agent
Let Wally ask for you
Wally spots bank fees and can ask your bank’s chat or secure messages for a one-time courtesy refund. Not guaranteed.
CIBC decides case by case.
Read-only — Wally never moves your money.
CIBC fee FAQ
How much is CIBC’s NSF fee?
CIBC’s Personal Deposit Account Agreements and Disclosures (October 1, 2026) list $10.00 each time a payment item is presented or re-presented for payment on a Canadian dollar personal deposit account. CIBC says it won’t charge an NSF fee on the same account more than once within 2 business days, or if the account is overdrawn by less than $10.00. CIBC’s notice says the fee came down from $45.00 on March 12, 2026.
What does CIBC charge if I overdraw without Overdraft Protection?
A $5.00 charge plus interest at CIBC’s overdraft rate (currently 21% a year) when CIBC chooses to process a debit that overdraws your account, based on end-of-day balances. CIBC says it has no obligation to allow it again.
How can I avoid the CIBC Smart Account monthly fee?
The fee is $16.95 a month. It’s rebated when you keep an end-of-day balance of at least $4,000 every day of the month in one Smart Account, and it’s $0 automatically if your average monthly balances of eligible CIBC deposits and investments are $40,000 or more. Clients 24 and under (Smart Start), eligible full-time students, clients 65 and older, eligible RDSP beneficiaries and, for a limited time, eligible newcomers also get the fee rebated.
Does CIBC have a low-cost chequing account?
Yes. The CIBC Everyday Chequing Account costs $4.00 a month for up to 18 transactions, with $1.25 for each additional transaction. Clients 65 and older get a $4.00 monthly fee discount.
Sources
- 1.CIBC Personal Deposit Account Agreements and Disclosures (PDF) · October 1, 2026
- 2.CIBC Smart Account - Fees and details · October 14, 2026
- 3.CIBC Non-Sufficient Funds (NSF) fee changes · October 14, 2026
- 4.CIBC Overdraft Protection Service · October 14, 2026
- 5.CIBC Everyday Chequing Account - Fees and details · October 14, 2026
- 6.CIBC Contact us · October 14, 2026
- 7.FCAC news release: New NSF fee regulations bring down cost of banking for Canadians · March 12, 2026
Other banks
- BMO fee refundCanadaBMO lists a $10 NSF fee (not charged more than once in 2 business days on the same account, or when the item would leave you overdrawn by less than $10) and, without Overdraft Protection, a $5 charge for each business day an item creates or increases an overdraft. BMO Performance Chequing costs $17.95 a month, or $0 with a $4,000 minimum daily balance.See the fees
- RBC Royal Bank fee refundCanadaRBC’s schedule lists a $10.00 NSF (returned item) fee, limited to one per two business days on the same account and not charged when the item overdraws the account by less than $10, plus a $5.00 overdraft handling fee when RBC lets you overdraw without Overdraft Protection. RBC Day to Day Banking has a $4.00 monthly fee that can be rebated to $0.See the fees
- Scotiabank fee refundCanadaScotiabank lists a $10.00 NSF fee (not charged when the shortfall is $10 or less, and not more than once within two business days per account), and a $5.00 handling fee per item if you overdraw without Overdraft Protection. Preferred Package has a $16.95 monthly fee that is waived with a $4,000 minimum daily closing balance.See the fees
- TD Canada Trust fee refundCanadaTD lists a $10 NSF fee (not charged more than once in 2 business days on the same personal deposit account, or when you are overdrawn by less than $10) and a $5 Payment Coverage Fee plus 21% annual interest when it approves a payment above your balance. TD Every Day Chequing has an $11.95 monthly fee that is $0 with a $3,000 daily balance.See the fees
- Bank of America fee refundUSBank of America’s schedule lists a $10 Overdraft Item Fee (no more than 2 overdraft items per day), but no fee on everyday non-recurring debit card purchases or ATM transactions. Advantage Plus Banking has a $12 monthly maintenance fee with several ways to avoid it.See the fees
- Capital One fee refundUSCapital One says it has eliminated all overdraft fees for its consumer banking customers, and 360 Checking has no monthly fee and no minimum balance. The fees its 360 Checking disclosure does list are small: $10 or $20 for a cashier’s check and $30 for an outgoing domestic wire.See the fees