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BankingReviewed by Landed Canada Editorial Team · Updated May 2026

CIBC Smart Start Program for Newcomers 2026

Up to $400 bonus for newcomers who set up direct deposit.

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CIBC's Smart Start program offers newcomers (within 5 years of arriving in Canada) free chequing for 1 year, a newcomer credit card with no Canadian credit history required, and a promotional bonus of up to $400 when setting up direct deposit. CIBC also offers a free US dollar account option — particularly useful for newcomers with US business or income. CIBC has good Spanish-language services in markets with Latin American newcomer communities. CIBC Smart Cash Visa for newcomers offers cash back on groceries and recurring bills. The newcomer credit card has a credit limit starting at $500–$3,000 depending on income documentation.

Frequently asked questions

What bonus can newcomers get with CIBC Smart Start?
CIBC offers a promotional bonus of up to $400 for newcomers who set up direct deposit, along with free chequing for the first year.
What credit limit can newcomers expect on the CIBC Smart Start credit card?
The newcomer credit card typically starts with a credit limit of $500 to $3,000, depending on the income documentation you provide — no Canadian credit history is required.

Compare all newcomer banking options

See how this program compares to all other newcomer banking programs:

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