• coupon match-ups
  • coupon database

  • CIBC – Overdraft Protection Fee Jumps to $5 Per Day Instead of $5 Per Month

    27 Comments

    CIBC Overdraft Protection.

    CIBC Overdraft Protection

    Do you have overdraft protection with CIBC? If so, you need to be aware of this:

    Starting April 1, 2013, CIBC is changing their overdraft protection fees from $5/month to $5/day. You will also be charged $4/month just for having overdraft protection.

    That’s $5 each time you go into overdraft, plus $4 per month.

    Read more information about CIBC overdraft protection here. (Page 2)

    Thanks, Mel!

    GD Star Rating
    loading...
    Posted By: on January 29, 2013 Filed Under: Deals 
    Tagged With: CIBC

    Subscribe to our email list to receive a FREE video outlining my top 5 tips for saving money on groceries.
    • Your Email Address

    27 Responses to »
    CIBC – Overdraft Protection Fee Jumps to $5 Per Day Instead of $5 Per Month

    « Older Comments
    1. cheryl topham says:
      April 25, 2013 at 10:25 AM

      yes it is still a money grab because if you choose the 4 dollar option you have to pay it every month whether you use it or not.
      I am tired of cibc and will definitely be changing banks now. this is the last straw.

      Reply
    2. Shauna says:
      February 11, 2013 at 9:03 PM

      President’s Choice is a great choice, plus it pays 2.00% on your savings account.

      Reply
    3. Jan says:
      January 30, 2013 at 3:24 PM

      President’s Choice is the way to go. I’ve banked with them for fifteen years and saved gundreds of dollars in ridiculous, money grabbing. unecessary fees.

      Reply
    4. Melissa says:
      January 29, 2013 at 10:12 PM

      If you actually read the link it states that a $5 fee will be applied everyday you are in ODP. Then it says there is ALSO a Fixed Monthly charge of $4.

      This means CIBC is going to be offering people a choice of $5/day or $4 per month.
      Not sure how this means they’re trying to get more money from people?

      Reply
    5. Melanie says:
      January 29, 2013 at 2:09 PM

      I work for CIBC and this is completely false. Customers who have Overdraft Protection now have two options to best suit their needs. They can pay $4/month and go into over draft protection as many times as they want, or if they are someone who rarely if ever uses their Overdraft Protection they can opt to pay the $5 fee every time they use their Overdraft instead.

      So for the people who use their Overdraft Protection a lot, this is much more beneficial to them.

      Reply
    6. Nicole says:
      January 29, 2013 at 1:31 PM

      There are banks & credit unions that offer free banking fees.
      It seems like a hassle to switch banks, but in the end its your hard earned money at stake.
      It may be a good time to re-evaluate your finances & budget – do you really need overdraft protection?

      Reply
    « Older Comments

    Leave a comment

    XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>