New CIBC Unlimited Business Operating Account offers Unlimited Transactions to Business Owners

New account changes the business banking market, and allows business
    owners to spend more time on their business, and less time on their
    banking

TORONTO, Sept. 28 /CNW/ - With the launch of the new CIBC Unlimited Business Operating Account, CIBC (CM:TSX,NYSE) is the only bank to offer a business account with unlimited transactions, such as withdrawals, bill payments, and account transfers, all for one low monthly fee. This allows business clients to focus on their business, without worrying about per transaction fees, or how much they'll pay at the end of the month.

"The new CIBC Unlimited Business Operating Account is the most exciting development in the business banking market in some time," said Colette Delaney, Senior Vice-President, CIBC Retail Markets. "Business owners have told us they want the certainty of a single, low monthly fee to cover all of their day-to-day banking, and that's what the new CIBC Unlimited Business Operating Account delivers."

The new account offers unlimited monthly transactions such as withdrawals, account transfers, and bill payments, for a low monthly fee of only $35. The monthly fee also includes a large amount of cash, coin and cheque deposits each month. With no additional fees for depositing up to 100 cheques, $15,000 in cash, or $1,000 in coin monthly, most business clients won't pay deposit handling fees.

"Removing deposit handling fees for most business clients as part of the CIBC Unlimited Business Operating Account underscores the value of CIBC's new offer to business clients, and makes it even easier to predict your monthly banking fees," added Delaney.

Additionally, CIBC is giving clients flexible, convenient options for their day-to-day banking as part of the new account, including banking at their local branch, by phone, or online.

"CIBC is committed to helping business owners get the right advice to help meet their financial needs and grow their business," said Delaney. "As economic conditions have changed, business owners have become even more focused on managing their cash flow, making this new account an ideal solution for many businesses."

CIBC also offers the CIBC Basic Business Operating Account for business clients with different needs and lower transaction volumes. This pay-as-you-go account plan offers great value to business clients whose monthly transaction volumes are lower.

For advice and more information about CIBC's business account line-up, visit www.cibc.com or your local CIBC branch, or call 1-800-465-CIBC (1-800-465-2422).

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

For further information: Rob McLeod, Senior Director, Media Relations, CIBC, Tel: (416) 980-3714, rob.mcleod@cibc.com