CIBC Review 2026

Canada's fifth-largest bank: fees, accounts, Aeroplan credit cards, and whether CIBC is the right bank for you.

★★★½3.5 / 5 — Aeroplan Specialist
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CIBC (Canadian Imperial Bank of Commerce) is Canada's fifth-largest bank with 11+ million clients, 1,000+ branches, and 3,400 ATMs. CIBC is best known as the home of Aeroplan credit cards — the most popular travel rewards program in Canada. CIBC is also the parent company of Simplii Financial, the best no-fee bank account in Canada.

Quick Verdict

CategoryScoreNotes
Monthly Fees
1.7/5
$12.95–$29.95/mo
Welcome Bonus
3.4/5
Up to $300 (periodic offers)
Aeroplan Cards
4.7/5
Best Aeroplan cards in Canada
Branch Access
4.1/5
1,000+ branches nationwide
Digital Banking
3.7/5
Decent app, improving
Savings Rates
0.9/5
0.01% — among worst in Canada
$300
CIBC Welcome Bonus (Smart Plus or Advantage)
Periodic offer — open qualifying account + set up direct deposit

CIBC Account Plans 2026

CIBC Aeroplan Credit Cards — The Main Attraction

CIBC is the official bank partner for Air Canada Aeroplan — Canada's most popular travel rewards program. CIBC Aeroplan cards earn points redeemable for Air Canada flights, hotel stays, and merchandise.

CardAnnual FeeBest Earn RateWelcome Bonus
Aeroplan Visa Infinite$139 (waivable)1.5x Aeroplan (groceries/gas/Air Canada)~40,000 Aeroplan pts
Aeroplan Visa Infinite Privilege$5992x Aeroplan on Air Canada~75,000 pts + lounge access
Aeroplan Visa$01x Aeroplan everywhere10,000 pts
Costco MC$0 (for Costco members)3% at restaurants, 2% travelNo welcome bonus

The CIBC Aeroplan Visa Infinite is widely considered the best all-around Aeroplan credit card when you factor in the free checked bag benefit on Air Canada flights, which alone can save families $400+ per round trip.

✓ CIBC Pros

  • Best Aeroplan credit cards in Canada
  • Free checked bags (Aeroplan Infinite)
  • 1,000+ branches, 3,400 ATMs
  • Free student banking
  • Simplii Financial (free no-fee banking)
  • Costco Mastercard partnership
  • Strong mortgage products

✗ CIBC Cons

  • Monthly fees $12.95–$29.95
  • Smallest Big 5 branch network
  • 0.01% savings rate
  • $300 bonus lower than TD/Scotia
  • Smart Plus fee ($22.95) is high
  • NSF fees $48
  • Not ideal for non-Aeroplan users

CIBC vs Competitors 2026

FeatureCIBCRBCTDKOHO
Monthly Fee$12.95–$29.95$11.95–$30$10.95–$29.95$0
Welcome BonusUp to $300Up to $300Up to $400$100 (code BREMO2026)
Best Credit CardAeroplan ⭐Avion travelAeroplan (also CIBC)1–2% cashback
No-Fee OptionSimplii Financial——KOHO itself
Savings Rate0.01%0.01%0.01%Pair with EQ 3.75%
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CIBC Smart Strategy: Simplii + Aeroplan

The smartest way to bank in the CIBC ecosystem: open a Simplii Financial account (CIBC's no-fee brand) for free daily banking, and get the CIBC Aeroplan Visa Infinite credit card for travel rewards and free checked bags on Air Canada. You get the full value of CIBC's best products without paying any monthly banking fees.

Frequently Asked Questions

Is Simplii Financial the same as CIBC? +
Simplii Financial is CIBC's no-fee digital banking brand. Your deposits are held by CIBC and are CDIC-insured. Simplii offers free chequing accounts with unlimited transactions and free e-transfers — the same banking infrastructure as CIBC but without monthly fees or branches. It's the best choice if you want CIBC-backed safety without the fees.
What makes CIBC's Aeroplan card special? +
CIBC is the primary issuer of Aeroplan credit cards. The CIBC Aeroplan Visa Infinite earns 1.5x Aeroplan points on groceries, gas, and Air Canada purchases, and comes with free checked bags on Air Canada for the cardholder and travel companions. For Air Canada frequent flyers, this free bag benefit alone is worth $60–$120 per round trip — more than the annual fee for couples or families.
What is CIBC's welcome bonus for 2026? +
CIBC periodically offers welcome bonuses on their Smart Plus and Advantage chequing accounts — typically up to $300. Requirements usually include setting up recurring direct deposit. Note that CIBC's monthly fees are among the highest of the Big 5 ($12.95–$22.95 for mid-tier accounts), so the net value after fees is around $220–$260.
Is CIBC or TD better? +
TD is generally considered slightly better for everyday banking: lower monthly fees ($10.95 vs $12.95 basic), larger welcome bonus (up to $400 vs $300), and more branches in Ontario/Quebec. CIBC wins if you're an Aeroplan loyalist — CIBC Aeroplan cards have superior earn rates vs TD's Aeroplan offering. Both have identical 0.01% savings rates, so move your savings to EQ Bank regardless of which you choose.

Bottom Line

CIBC is the right choice if you fly Air Canada regularly and want the best Aeroplan credit card benefits. For everyday banking, use Simplii Financial (CIBC's no-fee brand) instead of a CIBC chequing account to avoid monthly fees. And if you don't fly Air Canada frequently, KOHO (code BREMO2026) + EQ Bank offers better value for zero monthly fees.

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