CIBC Basic Operating Account for Small Business Owners
The most affordable entry point into CIBC business banking. Built for sole proprietors, freelancers, and micro-businesses that process a modest number of transactions each month.
What the Basic Operating Account Includes
The CIBC Basic Operating Account provides everything a new or low-volume business needs without unnecessary costs. At $6 per month — or free when you maintain a $3,000 minimum balance — this account delivers core banking functionality with CIBC Smart Banking digital access.
You get 15 included debit transactions per month, which covers the typical activity of a sole proprietor handling a handful of vendors, utility payments, and deposits. Additional transactions cost $0.65 each, making it easy to predict your banking costs.
- 15 included debit transactions per month ($0.65 per additional)
- 2 free Interac e-Transfers per month ($1.50 per additional)
- Full CIBC Smart Banking — online and mobile access
- Mobile cheque deposit through the CIBC business app
- Free incoming wire transfers
- CIBC business debit card with Interac Flash tap payment
- Monthly fee waived with $3,000 minimum balance
Who Should Choose the Basic Operating Account
This account works best for businesses in their earliest stages. If you are a freelance consultant invoicing a few clients per month, a part-time business operator, or a sole proprietor testing a new venture, the Basic Operating Account keeps your banking costs minimal while providing institutional-grade security and digital tools.
Many CIBC clients start with the Basic account and upgrade to the Everyday or Advanced tier as their transaction volume grows. The upgrade process is instant through CIBC Smart Banking — your account number stays the same, and there are no switching fees.
Typical Basic Account Users
Freelance graphic designers, independent consultants, tutoring businesses, home-based craft sellers, Etsy shop operators, and seasonal businesses with low off-season activity all find the Basic Operating Account to be an excellent fit.
Complete Fee Schedule
Full transparency on every cost associated with the Basic Operating Account.
| Service | Cost |
|---|---|
| Monthly Account Fee | $6.00 (waived with $3,000 balance) |
| Included Debit Transactions | 15 per month |
| Additional Transactions | $0.65 each |
| Interac e-Transfer (Send) | 2 free, then $1.50 each |
| Interac e-Transfer (Receive) | Free |
| Incoming Wire Transfer | Free |
| Outgoing Wire Transfer (CAD) | $25.00 |
| Outgoing Wire Transfer (USD) | $35.00 |
| Cheque Processing | $0.75 per item |
| Cash Deposits | $2.50 per $1,000 |
| Non-CIBC ATM Withdrawal | $2.00 |
CIBC Smart Banking Included with Every Account
Even at the Basic tier, you get full access to the CIBC Smart Banking digital platform that powers modern business operations.
Online Banking
Access your accounts from any browser. View balances, initiate transfers, pay bills, and download transaction history for your accounting software. Available 24/7 with 256-bit encryption.
Mobile App
The CIBC business mobile app offers biometric login, mobile cheque deposit, push notifications for large transactions, and account management on the go. Available for iOS and Android.
Software Integration
Connect your CIBC Basic Operating Account directly to QuickBooks, Xero, Sage, or FreshBooks. Automatic transaction syncing eliminates manual data entry and reconciliation errors.
Frequently Asked Questions
The CIBC Basic Operating Account is designed for sole proprietors, freelancers, and small startups processing fewer than 15 transactions per month. It provides essential business banking features at the lowest monthly fee of $6, including access to CIBC Smart Banking for online and mobile banking, Interac e-transfers, and the ability to separate personal and business finances.
Yes, CIBC makes it easy to upgrade your operating account as your business grows. You can upgrade from the Basic Operating Account to an Everyday, Advanced, or Unlimited account at any time through CIBC Smart Banking or by contacting your business banking advisor. Your account number and banking relationships remain unchanged during the upgrade.
Yes, every CIBC business operating account — including the Basic tier — includes full access to CIBC Smart Banking, our comprehensive digital banking platform for online banking, mobile banking, and payment management. You can manage your chequing account, execute e-transfers, view transaction history, and access financial reports from any device.