CIBC Bank USA
CIBC Bank USA iCan or myChoice Prestige Checking $200 Bonus
CIBC Bank USA pays $200 for a new iCan or myChoice Prestige Checking account opened with at least $50. Get $500 or more in direct deposits in each of the three calendar months after the month you open, and sign up for eStatements, all within 120 days. You can apply online from any U.S. address. Neither account has a monthly maintenance fee.
- Bonus amount
- $200
- Expires
- Not listed
- Time to complete
- ~120 days
- Paid after opening
- ~150 days
- Difficulty
- Medium
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Requirements
Last verified: Nov 10, 2026
Open account
Open a new CIBC iCan Checking ($25 minimum) or myChoice Prestige Checking ($50 minimum) account online, and open it with a balance of at least $50 to qualify for the bonus. Accounts converted from another CIBC checking type do not count.
$500 direct deposit for 3 months
Receive qualifying direct deposits totaling $500 or more in each of the three consecutive calendar months after the month you open the account, within 120 days of opening. A qualifying direct deposit is an electronic payment from an employer, government agency or other third party. Transfers between accounts, mobile deposits, Zelle, external transfers from another bank, and branch or ATM deposits do not count.
Turn on eStatements
Elect electronic statements in CIBC US Digital Banking during the 120-day Qualifying Period.
CIBC credits the $200 within 30 days after the 120-day Qualifying Period ends. The account must still be open that day.
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Account Details
The account must still be open on the day CIBC credits the bonus. A $5 monthly dormant account fee can apply to inactive accounts.
Eligibility
Only one consumer checking bonus per person at CIBC Bank USA. Accounts converted from another CIBC checking type do not qualify.
- Needs a U.S. home address (Puerto Rico accepted, other U.S. territories not), a Social Security number and a U.S. driver's license or state ID.
Tips & Gotchas
- The three deposit months start the month after you open. Opening early in a month gives you the most room inside the 120 days.
- Fund the account with at least $50, even on iCan Checking where the stated minimum is $25.
- External transfers from another bank do not count as direct deposits for this bonus.
- Only one CIBC consumer checking bonus per person. No monthly maintenance fee, but a $5 monthly dormant account fee can apply.
Can You Earn This Bonus Again?
Fine Print
To qualify for the $200 bonus, within 120 days of opening the account (the Qualifying Period): open the account with a minimum balance of $50; make qualifying direct deposits totaling $500.00 or more each month for three consecutive calendar months after the calendar month the account was opened; and elect to receive electronic statements through CIBC US Digital Banking. A qualifying direct deposit is any payment made by a government agency, employer or other third-party organization via electronic deposit. Transfers from one account to another, mobile deposits, Zelle, external transfers from another financial institution, and branch or ATM deposits do not qualify. The bonus is credited within 30 days after the end of the Qualifying Period, and the account must remain open on that date. Bonus is considered interest and reported to the IRS. One consumer checking account bonus per person. Accounts converted from other CIBC checking types are ineligible. Offer subject to change and may be withdrawn at any time without notice.
Taxable income · Reported on 1099-INT
Related Articles
What is a direct deposit?
An electronic payment sent directly into your bank account, usually from an employer or government.
Does Zelle Count as Direct Deposit for Bank Bonuses?
Usually no. At most banks a Zelle payment arrives coded as peer-to-peer and will not trigger the bonus. Citi is the clear exception. Its Enhanced Direct Deposit terms name Zelle as a qualifying deposit, and every Zelle report we have from Citi got paid.
Do Bank Bonuses Show Up on a 1099-INT?
Yes. Bank bonuses are taxable income. Most banks report them on a 1099-INT once you earn $10 or more from that bank in a calendar year. Some report them on a 1099-MISC instead. Either way, you report the bonus as ordinary income on your tax return.
Also see: this month's best bank bonuses and community DD data points.
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