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Canadian Imperial Bank of Commerce (CIBC) vs Manulife Bank of Canada
A side-by-side comparison of ratings, customer experience, products, fees, and pros & cons to help you choose the right bank.
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Canadian Imperial Bank of Commerce (CIBC) edges ahead on our overall rating (4.1 vs 3.8), but the right pick depends on which products and fees matter most to you.
Overview
Known as CIBC, the Canadian Imperial Bank of Commerce sits among the biggest banks in Canada. Customers seeking full-service banking can access a range of banking, borrowing and investing options. Its product lineup is comparable to the other major banks, though some of its savings rates and fees are less competitive.
CIBC’s banking includes accounts for students, seniors, foreign workers, and newcomers to Canada. The CIBC Smart Account is one of its core everyday banking products and comes with a monthly fee rebate when customers maintain the minimum balance. While it may appeal to those who qualify, other customers might find more value elsewhere.
The bank has a wide selection of credit cards including those for cash back, travel, Aeroplan, Aventura and Costco. Its borrowing options are also comprehensive including mortgages, personal loans, lines of credit and home equity borrowing. CIBC’s product lineup as well as its highly rated online and mobile banking tools make the bank a well-rounded choice for Canadians looking to build a banking relationship with a single institution.
Manulife Bank is “Canada's first branchless bank,” with its parent company well-known among Canadians. The digital bank has $33.5 billion in assets and is ranked by Forbes as number seven in Canada on its list of the World’s Best Banks 2026. It also has Canada Deposit Insurance Corporation (CDIC) coverage on deposits.
Offering a much narrower lineup versus the biggest banks in Canada, Manulife Bank has one main bank account, which acts as a hybrid between chequing and savings. It also has Visa-branded credit cards, though does not offer Mastercard or American Express. The bank’s lineup is complete with mortgages and lines of credit, but its ongoing, non-promotional borrowing rates are less competitive, especially compared to offers available through digital banks.
One of the standout features of Manulife Bank is its integration with Manulife Financial, which allows customers access to insurance and wealth management services alongside daily banking. For those who already use Manulife products, it can provide a simple way to manage everyday banking with other financial needs.
Top chequing accounts
Top savings account
Top credit card
All products offered
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