I applied for this account. Whole process took about 15 minutes.
Doing a pre-authorized payroll deposit is sufficient to satisfy the terms of the offer. Many payroll providers can issue your paycheque in two amounts. So I've asked my payroll provider to pay $100 into this account twice a month, and the remainder of my paycheque going into my main bank account. Easy.

The CIBC account manager emphasized that I need to keep the account open for "three whole months". I think he is quite used to churners opening these accounts.