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Overdraft Protection
BANK ACCOUNTS（https://www.cibc.com/en/personal-banking/bank-accounts.html）
CIBC Overdraft Protection Service
Enjoy the reassurance of having access to extra funds when you need them.
Benefits of CIBC Overdraft Protection Service
CIBC Overdraft Protection is a convenient, short-term credit option to help manage your everyday banking needs 1 . It covers you up to your approved credit limit when you're low on funds, helping you avoid declined transactions and NSF fees.
Always covered, always confident
With CIBC Overdraft Protection your transactions are automatically covered up to your approved limit 2 to pay your bills and cover expenses.
In control every day
Access funds from your CIBC Overdraft Protection Service through online banking, ATMs or with your CIBC Advantage ® Debit Card. Track your balance and repayments through online or mobile banking.
Flexible coverage options
Enjoy the flexibility of choosing the type of overdraft protection that suits your needs, and only pay interest on the amounts you use. CIBC Overdraft Protection can be a cost-effective way to handle short-term cash flow gaps or emergencies.
More information about CIBC Overdraft Protection
Minimum CIBC Overdraft Protection limit: $100 Maximum CIBC Overdraft Protection limit: $5,000 3
Monthly Fixed Fee
What you pay: $5.00 per month 4 (this fee is not applicable to Quebec residents)
How it works: Pay a low monthly fee no matter how often your account goes into overdraft.
Pay Per Use
(this fee option is not available to Quebec residents)
What you pay: $5.00 for each business day (based on end-of-day balances) that an overdraft is created or increased on your account
How it works: You’ll only pay this fee each time an overdraft is created or increased on your account.
Your CIBC Overdraft Protection limit is the amount that your account can be overdrawn. Any deposit to your account will automatically be applied to reduce your overdraft amount. Your CIBC Overdraft Protection limit is subject to credit approval.
CIBC’s overdraft interest rate is currently 21% per year and may vary from time to time. Interest will be calculated and debited monthly to your account, based on the final daily indebtedness in the account throughout the calendar month.
Enjoy more with your CIBC Smart® Account
CIBC Overdraft Protection Service Monthly Fixed Fee 5 is not applied on up to 3 CIBC Smart Accounts 6 for clients in Tier 3.
Learn more about tiered banking（https://www.cibc.com/en/personal-banking/bank-accounts/chequing-accounts/smart-account/tiered-banking.html）
Your overdraft protection questions answered
What is overdraft protection and how does it work?
Overdraft protection is a credit service that covers transactions when your account balance is low, so you can avoid declined payments and purchases, non-sufficient funds (NSF) fees, and returned cheques. If you make a purchase, withdrawal, pay a bill, or there’s a pre-authorized payment that exceeds the balance available in your account, overdraft covers the shortfall up to your approved limit.