CIBC Basic Business Operating Account
Chequing
Description:
The CIBC Basic Business Operating Account is a low-fee operating account designed to assist businesses in efficiently managing their hard-earned dollars.
Comments on Funding:
This account offers the following features and fees:
– Monthly Plan Fee: $6.00
– Pay per use;
– Transactions: $1.00 for each self-service transaction; $1.25 for each full-service transaction.
Continuous Intake
Eligibility:
Applicants must be businesses, including a sole proprietorship, a partnership, a corporation or incorporated association, and unincorporated associations.
Application Steps:
Applicants must complete the application form online or complete the form and visit a CIBC Banking Centre and bring 2 pieces of valid ID to their appointment.
Documentation Needed:
Specific documentations must be provided based on the type of business structure.
Other Things to Note:
1. Full-service refers to transactions performed in a CIBC Banking Centre, through a CIBC Telephone Banking representative, through a CIBC Business Contact Centre representative, or through the regular Wallet Depository Service.
2. Self-service refers to cheques written as well as transactions performed through an ATM, Point of Sale terminal, ABM-Wallet Combo Depository Service, CIBC Telephone Banking Automated Service, CIBC Business Contact Centre Automated Service, CIBC Online Banking, SmartBanking® for Business (SmartBanking), CMO, CIBC eDeposit for cash, or CIBC eDeposit for cheques.
About the author
Maurice