Mr. Tom Wallis reports

CIBC LAUNCHING INNOVATIVE CHEQUING ACCOUNT TO FURTHER RECOGNIZE CLIENT RELATIONSHIPS

A new and innovative approach to Canadian Imperial Bank of Commerce (CIBC)'s chequing accounts is coming this fall that recognizes the depth of a client's relationship with CIBC. Under the changes effective Nov. 1, 2025, the CIBC Smart account will deliver rewards automatically to clients, including fee rebates, unlimited everyday banking transactions and additional features.

"Our new tiered chequing account represents the latest step in our relationship-focused approach that recognizes loyalty and grows with our clients," said Frank Psoras, executive vice-president, personal banking products and payments, CIBC. "Our retail client base continues to grow as more Canadians choose CIBC as their primary bank for their everyday banking needs, including chequing accounts, credit cards, advice and tailored solutions."

This new approach will further that momentum by offering greater value to clients who choose a deeper relationship with CIBC, added Mr. Psoras. "Deepening client relationships and delivering meaningful experiences are key to our purpose of making our clients' ambitions a reality and delivering on our client-focused strategy."

CIBC's retail client base grew by more than 600,000 net new clients in fiscal 2024, and the bank was recently recognized by Forrester as a customer obsessed enterprise -- the only retail bank in North America to receive this award.

Rewards that grow with your relationship

Much like loyalty programs offered by hotels and airlines, CIBC clients can earn additional benefits as they deepen their relationship with CIBC. The new CIBC Smart account will feature three distinct tiers based on a client's average monthly balance of eligible deposits and investments with CIBC based on the amounts below:

• Tier 1 (up to $39,999.99): competitive everyday banking for a monthly account fee of $16.95 for up to three CIBC Smart accounts for unlimited transactions; if clients maintain a minimum end-of-day account balance of $4,000 each day for that month, the monthly account fee is rebated;
• Tier 2 ($40,000 to $99,999.99): the $16.95 monthly fee is rebated for unlimited transactions, and clients are eligible for enhanced benefits, including a credit card annual fee rebate of up to $50 annually for the primary cardholder on an active eligible credit card account;
• Tier 3 (more than $100,000): The $16.95 monthly fee is rebated for unlimited transactions, and clients can access benefits including credit card annual fee rebates up to $139 annually for the primary cardholder and up to $50 for up to three authorized users on an active eligible credit card account, unlimited non-CIBC ABM withdrawal fee rebates worldwide, stop payment fee rebates, and no monthly fee for CIBC overdraft protection service on up to three CIBC Smart accounts.

Clients are automatically enrolled in one of three tiers on a monthly basis, with eligible features and benefits applicable for that month. Clients will be able to view their account tier when they sign in to their on-line banking or mobile banking app, by inquiring at their local banking centre or by calling the CIBC contact centre.

Eligible deposits and investments include chequings, savings, RRSPs, TFSAs, GICs, mutual funds and other investments clients hold for short-term savings or long-term investing. More information on this and the tiers is available on the bank's website.

No monthly fee options for students, newcomers, registered disability savings plan beneficiaries, young Canadians and now seniors

CIBC will continue to set the standard for accessible banking with no monthly fee account options for youth up to age 24, students, newcomers and RDSP beneficiaries regardless of their account balance, effective Nov. 1, 2025. As a new benefit, seniors will pay no account fee for unlimited everyday banking transactions regardless of deposit and investment balances. CIBC will also offer the low-cost CIBC everyday chequing account for $4 per month, which will now include 18 everyday banking transactions (up from 12), and no fee Interac e-transfers. For clients looking for a no-fee chequing account and free daily banking, Simplii Financial provides award-winning digital-only bank accounts that allow them to bank whenever and where they like.

"We're proud to be the bank that supports Canadians at every life stage," said Mr. Psoras. "From a youth's first account to a retiree's nest egg, we recognize the unique needs of many groups within our population and continue to offer no monthly fee account options to meet the needs of these clients and help them achieve their ambitions."

Seamless implementation

Existing CIBC clients will receive information outlining their specific benefits through personalized communications being sent in the coming weeks. The transition is designed to be automatic and seamless.

About Canadian Imperial Bank of Commerce (CIBC)

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, in the United States and around the world.