- Customer experience
Overall institution rating
CIBC U.S. Bank is the U.S. arm of the Toronto-based Canadian Imperial Bank of Commerce. Its U.S. offerings are split between online-only accounts for high-yield savings and CDs and offline accounts for low-fee checking and other accounts. For this review, we considered the online options only. Its banking experience is uneven, with a clear and straightforward website but poor ratings on mobile apps.
Though the bank offers certificates of deposit in terms from nine to 30 months, they are not the most common terms, so we did not include them as part of the overall bank rating.
Best for: Those who want competitive savings rates and prefer to bank online, and don’t need a checking account or app-based banking.
- No monthly fees.
- Competitive rate on savings.
- Limited branch access.
- Low-rated mobile apps.
4.5/5 NerdWallet rating
The Agility online savings account earns a competitive rate of 5.01% annual percentage yield on all balances. There's no monthly fee. The only downside is the opening minimum is $1,000.
The CIBC U.S. website provides a clear overview of fees and rates for its online-only offerings and a good amount of information on its accounts that are available offline, including checking. There's a small network of ATMs and branches for the checking customers. Customer service is available by phone 8 a.m. to 7 p.m. CT on Monday through Friday, and 8 a.m. to 1 p.m. CT on Saturday.
For online customers, the bank website provides some calculators, but the mobile app ratings for iOS and Android devices aren't great.
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.