CIBC Youth Account Review: Is It Worth It?
CIBC youth account at a glance
Best pick for:
Under-25 everyday banking
If you qualify for CIBC’s Smart Start youth chequing account, you get free unlimited Interac e-transfers and debit purchases, and one free non-CIBC ATM withdrawal each month.
First-time investors
Take advantage of CIBC Investor’s Edge investment platform to trade Canadian and U.S. stocks and exchange-traded funds (ETFs) online with $0 commissions or annual account fees until age 25.
Family members of CIBC customers
It’s convenient to keep day-to-day banking under one roof if other members of your household bank at CIBC.
Not ideal for:
Online sign-up
The rules for opening an account vary by age, but youth between ages 12 to 15 cannot open an account online and must visit a branch.
Clients of another bank
Banking at CIBC might be less practical if your parents bank elsewhere and prefer the convenience of having all their banking at one institution.
Clients over age 24
If you’re not under 25, you do not qualify for the Smart Start account privileges.
CIBC Smart Start Youth Account full review
The Smart Start chequing account is CIBC’s youth account, designed for students and young people under age 25.
There are no monthly fees or balance minimums, and it comes with unlimited debit and Interac e-transfers, and a free SPC+ membership that offers discounts at more than 450 companies.
The account automatically converts to a CIBC Smart Account when you turn 25. When this happens, all your account information, including your debit card number and online banking details, remain unchanged, but monthly fees will apply.
What is CIBC?
Canadian Imperial Bank of Commerce, or CIBC, is a Toronto-headquartered financial institution founded in 1867. As one of Canada’s Big Six banks, its robust banking network includes over 1,000 locations and up to 3,000 ATMs to serve its millions of customers across Canada and around the world. It offers in-person and digital banking services for personal, business and institutional clients.
Is CIBC safe?
CIBC carries Canada Deposit Insurance Corporation (CDIC) insurance, so eligible deposits of up to $100,000 are protected if CIBC goes under.
The Canadian Investor Protection Fund (CIPF) covers CIBC investor portfolios for up to $1M of investor assets in the event of insolvency.
CIBC also offers a digital banking guarantee, which pledges to refund all funds lost from a CIBC account in the event of fraud so long as you’ve followed all digital banking security guidelines.
CIBC customer satisfaction ratings
CIBC ranks second in customer satisfaction with retail banking advice, according to J.D. Power’s 2025 Canada Retail Banking Advice Satisfaction Study, a survey of 14,399 retail bank customers in Canada . RBC Royal Bank ranks first on the list.
CIBC ranks highest in online banking satisfaction according to J.D. Power’s 2025 Canada Online Banking Satisfaction Study, a survey of 9,857 retail bank and credit card customers nationwide .
On Trustpilot, CIBC had a rating of 1.2 out of 5 possible stars, based on more than 1,750 customer reviews, as of this writing.
On the Better Business Bureau’s website, CIBC had a rating of 1.16 out of 5 possible stars, based on nearly 60 customer reviews, as of this writing.
Maximize your savings
Compare the best high-interest savings accounts in Canada.
CIBC Smart Start youth account details and eligibility
Who qualifies for a CIBC Smart Start Account?
To be eligible for the CIBC Smart Start account, you must:
Be a resident of Canada.
Be under the age of 25.
Have government-issued photo ID, like a health card, passport or driver’s license.
How to know if the CIBC Smart Start account is right for you
If you’re a young Canadian eager to start learning the nuts and bolts of money management, saving and investing, the CIBC Smart Start account could be the right account for you, especially if your parents already bank at CIBC.
How to open a CIBC Smart Start youth account
The application process for CIBC’s youth account depends on the applicant’s age. Children up to 11 years old must have a parent or guardian complete the application on their behalf, either online or in person at a CIBC branch, but parents of 12-year-olds can only apply in person. Those between the ages of 14 and 24 can apply for an account without their parents, but 13- and 15-year olds must visit a branch.
Here’s a breakdown of the online application process for youth aged 16 and up:
Enter your full name, email address, phone number and residential address.
Tell CIBC more about your residency status and the purpose of the account.
Review CIBC’s account agreement and privacy policy.
Select "submit."
Deposit and withdrawal process
CIBC Smart Start account deposits can be made by cash, cheque or Interac e-transfer. Visit an ATM or bank branch to deposit cash or cheques. Cheques can also be deposited through the CIBC mobile app.
Cash and cheque deposits may take up to eight business days to clear. Funds from Interac e-transfers are typically available within 30 minutes.
Cash withdrawals can be made at an ATM or bank branch during business hours. You can make one free withdrawal at a non-CIBC ATM monthly. Otherwise, using a non-CIBC ATM will result in a $2 service fee.
Customer service options
There are a few ways to connect with the CIBC customer service team:
Phone. Call 1-800-465-2422 to speak with someone 24 hours a day, seven days a week.
Live chat. Connect with a CIBC rep on weekdays from 7 a.m. to 12 midnight and weekends from 9 a.m. to 6 p.m. ET.
In person. Visit a bank branch during business hours.
How to maximize the benefits of a CIBC Smart Start Account
Sign up for CIBC Investor’s Edge. While this benefit is limited to 18- to 24-year-olds, free stock and ETF trades are a big deal — CIBC typically charges $6.95 per trade.
Stick with CIBC ATMs. You only get one free non-CIBC ATM withdrawal monthly, so avoid the $2 service fee for using ATMs outside its network by using CIBC ATMs.
Download the CIBC mobile app. Bank on the go and take advantage of the CIBC mobile app available on Apple and Google Pay.
Sign up for Journie Rewards. Saving up to $0.10 off per litre of pumped gas isn’t automatic — you must first link your CIBC debit card to the Journie Rewards program through the CIBC mobile app or online banking portal.
Sign up for Skip. Link your CIBC debit card to your Skip account and get a free 12-month trial of Skip+.
Sign up for SPC. Students aged 14 and up get a free SPC+ membership and save up to 30% at more than 450 brands and retailers.
Additionally, you can earn $50 for each friend you refer who opens their first CIBC Smart Start account and follows a few instructions, like depositing at least $100 and setting up either an ongoing direct deposit or a recurring pre-authorized payment. The friend gets $50 too. You can refer up to 50 friends per year, so you could earn more cash.
Alternatives to the CIBC Smart Start Youth Account
If you’re a student over age 25, you don’t qualify for Smart Start, but you can consider CIBC’s Smart for Students Account. This account offers many of the same features and benefits as the Smart Start Account, with no monthly fee while you’re in school and for six months after you graduate.
Outside CIBC’s roster, the other Big Six Banks offer youth accounts, as do credit unions and digital banks.
CIBC Smart Start account vs. CIBC Smart for Students account
CIBC’s youth and student accounts have plenty in common but aren’t without their differences.
CIBC YOUTH ACCOUNT | CIBC STUDENT ACCOUNT | |
|---|---|---|
Eligibility | Be a resident of Canada under the age of 25. | Be a resident of Canada and a student graduating at age 25 or older. |
Age restriction | Must be under the age of 25. | None |
Type | Youth account | Student account |
Monthly fees | None | None |
Account minimums | None | None |
Benefits | Both accounts offer unlimited debit and Interac e-transfer transactions in Canada, a free SPC+ membership and up to $0.10 off per litre of gas at participating locations when you use your CIBC debit card. | |
Other perks | Commission-free stock and ETF trades through CIBC’s Investor’s Edge | Keep your student banking benefits for six months after graduation. Student discounts on CIBC Investor’s Edge ($0 annual fee and discounted trades). |
CIBC youth account facts
What is a youth account?
Youth accounts, sometimes called kids bank accounts, are chequing and savings accounts designed for children, teens and young adults. They tend to offer many of the benefits of a regular bank account, like a debit card, mobile banking, earned interest and more — but without the monthly account fees. These accounts are typically designed for customers from 12 to 24 years old.
The CIBC Smart Start youth account doesn’t earn interest.
There is no minimum balance requirement to avoid a monthly account fee for the CIBC Smart Start account.
Monthly fee
There are no monthly fees for the CIBC Smart Start account.
Withdrawal fee
There is no fee for withdrawing funds from a CIBC ATM. A $2 fee applies for non-CIBC ATM withdrawals in Canada, although you’ll get one free withdrawal from a non-CIBC ATM each month.
Frequently asked questions
Is it worth it to get a CIBC youth account?
Is it worth it to get a CIBC youth account?
The CIBC Smart Start youth account offers many of the benefits of a CIBC Smart account, minus the monthly fee. If you or your child qualify for the CIBC Smart Start account, it may be worth considering.
Can a 12-year-old have a debit card in Canada?
Can a 12-year-old have a debit card in Canada?
Yes, a 12-year-old can have a debit card, but a bank may require their parent or guardian to apply for an account with them before a card is issued. Note that CIBC requires Canadians to be at least 14 years old to open a Smart Start youth account on their own.
Sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- J.D. Power. J.D. Power’s 2025 Canada Retail Banking Advice Satisfaction Study. Accessed Oct 18, 2025.
- J.D. Power. J.D. Power’s 2025 Canada Online Banking Satisfaction Study. Accessed Oct 18, 2025.
DIVE EVEN DEEPER
Janine DeVault
Janine DeVault