No, that's a poor way to park cash at CIBC. Every brokerage today offers an HISA (High Interest Savings Account) that you purchase just as you would a mutual fund. There are no fees, as they're baked in.Am I correct that this seems like a great way to park cash if I feel I may need to buy stocks in the next year?
Is each CIBC account CDIC insured for $100k separately, or is that $100k all accounts added together?
I believe the HISA for CIBC is ATL5000. It presently pays 0.85%
Every account is individually insured by CDIC.