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Canadian Imperial Bank of Commerce (CIBC) vs PC Financial®
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.
PC Financial offers banking services from President’s Choice Bank, which is a Schedule I, federally regulated bank in Canada. Given this setup, the banking products at PC Financial have coverage of up to $100,000 from the Canadian Deposit Insurance Corporation (CDIC). EQB, parent of EQ Bank, acquired PC Financial in July 2026. Prior to this, the bank was a subsidiary of Loblaws.
PC Financial has a smaller offering than many other Canadian banks. It has only one main account that operates as a no-monthly-fee chequing account with the ability to add on a savings feature, giving you the best of both worlds. Its interest rate applies to all balances in the savings side of the account and is quite competitive considering there is no minimum balance.
The bank also has just a few Mastercard credit cards, with no Visa or American Express options. Lines of credit and mortgages are also not available. It lacks in business banking and insurance products as well, making it a better choice for those who don’t need a full-service banking relationship.
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Top savings account
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