CIBC

Deposit a cheque with the CIBC app

The eDeposit workflow begins under Move money > eDeposit. It asks for front and back cheque photos, the cheque amount and the destination account, then presents the details for review.

Before taking the photos, sign the back and add For deposit only. Choose Deposit to, select the account, and use Next to review the entry. Confirm with Yes and retain the on-screen confirmation. CIBC instructs customers to keep the original cheque for at least five days before destroying it.

Eligible items include Canadian-dollar cheques drawn on Canadian banks, bank drafts, money orders and certified cheques. CIBC publishes an eDeposit limit of CAD 250,000.

A deposit confirmation does not mean all funds are available

CIBC's normal hold for a Canadian-dollar cheque from a Canadian institution is four business days after deposit. For deposits outside a banking centre, its maximum standard periods are five business days for CAD 1,500 or less and eight for larger cheques. Exceptions, including accounts opened less than 90 days ago, can extend a hold.

For example, a cheque visible in the account balance may still be unavailable for a bill payment. The app's My Accounts area shows the available funds and funds on hold.

Smart Account pricing and opening

The monthly fee is CAD 16.95 for up to three Smart Accounts, rising to CAD 17.95 on January 1, 2027. It includes unlimited everyday transactions. Keeping CAD 4,000 in one Smart Account at the end of every day of the month earns the monthly-fee rebate.

CIBC also offers no monthly account fee for eligible groups, including youth under 25 and seniors aged 65 and older, without a minimum balance. Newcomer and foreign-worker exemptions last two years.

A personal account application asks for your identity and contact information plus an accepted original government photo ID. CIBC lists alternative identification arrangements for applicants without one of those photo IDs. Once the account is open, register for digital banking to use eDeposit.