Banking Smarter with @CIBC Smart Accounts #FitsYourLife

Banking and technology have made life so much simpler, from mobile banking to e-Transfers, banking has evolved to suit our everyday needs.  As a child, I remember holding my parent’s hand and waiting in our local CIBC branch while they did their banking. I’d often bring my doll along or race cars and play while they did what they had to do. That was back in the day of bank books. I still remember my parent’s brown CIBC book, the way its pages would feel and how I’d rifle through them trying to make sense of the grey printed digits.

Banking has evolved since then and Canadians are banking differently today; different clients have different needs. I use e-Transfers on a regular basis to both make and receive payments. It’s no surprise then to learn from a recent CIBC poll that 49 per cent of all Canadians have sent an Interac e-Transfer, and among those, 61 per cent of Canadians say they would send more if there were no associated extra fees. More than half (56 per cent) of Canadians who have sent an Interac e-Transfer also say they limit their use of the service because of the extra fees.

I love the convenience and security of Interac e-Transfers. It’s a smarter and more secure way to bank. I would, however, love to pay fewer fees to access my own money.

CIBC listens to client feedback and strives to make banking easier and more convenient. The bank’s newest bank account automatically adjusts to a client’s needs with lower fees in months where their  banking needs are less.

The CIBC Smart Account monthly fee starts at just $4.95 for up to 12 transactions and caps at $14.95 for unlimited everyday banking transactions, which now include Interac e-Transfers. This account is the first of its kind to offer unlimited Interac e-Transfers. As a business owner and a freelance journalist that gives me peace of mind. It makes sense.

The monthly fee (starting at $4.95 and capped at $14.95) is waived by maintaining a minimum daily balance of $3,000 and having a recurring direct deposit or two pre-authorized payments each month.

What’s pretty awesome is that customers can open a Smart Account without going into the branch via the CIBC app. While I have fond memories of going into the CIBC branch as a child, my own children rarely get to accompany me and that’s alright. They will never know the feel of a bank book, its faded grey numbers and thick yellowed pages, but maybe I’ll show them how to open up their own Smart Account from home. After all, different clients have different needs.

DISCLOSURE: While this post was sponsored by CIBC, all opinions are 100% my own.