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CIBC Overdraft Protection Service

Protect yourself from temporary cash shortfalls

What is overdraft protection?

Overdraft protection covers you up to your approved credit limit¹ when you don’t have enough money in your bank account to complete a transaction.

Cover pre-authorized payments and cheques
Avoid the expense of a $45 non-sufficient funds (NSF) fee
Make debit card purchases without the embarrassment of a declined transaction
Pay interest only on outstanding balances

Overdraft limits

Minimum overdraft limit

$100

Maximum overdraft limit

$5,000

An overdraft limit is the maximum amount your account can be overdrawn. You can apply for an amount between $100 and $5,000.

Overdraft protection

Monthly fixed fee

What you pay:

$5.00 per month²

How it works:

Pay a low monthly fee no matter how often your account goes into overdraft.³

Pay per use fee (Not available for residents of Quebec)

What you pay:

$5.00 for any business day that an overdraft is created or increased on your account³

How it works:

You’ll only pay this fee when an overdraft is created or increased.

Get overdraft protection

Apply for CIBC Overdraft Protection Service when you open your personal bank account. If you already have an account, apply for protection at any time through CIBC Online Banking^® or the CIBC Mobile Banking^® App:

Step 1 of 4

Step 1 of 4

Sign on to CIBC online or mobile banking

Step 2 of 4

Step 2 of 4

Select "Customer Services" from the menu

Step 3 of 4

Step 3 of 4

Choose "Apply for or change CIBC Overdraft Protection Service”

Step 4 of 4

Step 4 of 4

Complete the form

Sign on

You can also apply by calling us at 1-866-525-8622Opens your phone app. or by visiting a CIBC Banking Centre.

Questions?

Top questions Opens in a new window.