C

CIBC

Best ForEveryday Medical Spending
FeesNone ($0 Maintenance)

Quick Summary

  • Major bank (Canadian origin)
  • FDIC insured
  • U.S. operations

The Verdict

CIBC provides essential HSA features with zero monthly maintenance fees and basic savings functionality, earning a 2.3/5.0 rating from HSA Orbit.

In the US, CIBC provides tailored commercial, wealth management, personal, and small business financial solutions as well as cross-border banking services to clients with North American operations. We are a 150-year-old Toronto-based, global financial institution with our US headquarters in Chicago. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders.

We strive to build trusting and enduring relationships by putting our clients at the center of all we do. We use our values to guide our decisions, actions and interactions with our clients, our team members, our communities and our shareholders.

Key Features

Banking & Access

Includes debit card, online banking and check-writing.

Investment Options

This provider focuses on cash savings without investment options.

Security & Insurance

Deposits are FDIC/NCUA insured for your protection.

Account Details

Requires $50 minimum balance. no account opening fees.

Fee Analysis

Fee TypeThis ProviderIndustry AverageVerdict
Monthly Maintenance*$0.00$0.69EXCELLENT
Account Opening$0.00$1.88EXCELLENT
Account Closing$0.00$1.95EXCELLENT

* No annual, setup, or monthly fees

Industry averages calculated from 853 providers in the HSA Orbit database.

Investment Options

Savings-Only Account

CIBC currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.

Interest Rates

Interest rates are not currently available for this provider.

Contact Information

Address

120 South LaSalle Street Chicago, IL 60603 Customer Service

Customer Service

(877) 448-6500

120 South LaSalle Street Chicago, IL 60603 Customer Service

At a Glance

Monthly Fee$0
Investment ThresholdN/A
Interest Rate (Cash)Not published
Debit CardIncluded
FDIC InsuredYes

Pros & Cons

The Good

  • No monthly maintenance fees
  • No account opening or closing fees
  • FDIC/NCUA insured deposits

The Bad

  • No investment options available
  • Interest rates not published

User Sentiment

Based on community feedback

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NegativeNeutralPositive

Sentiment data coming soon

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