Do you know what I hate? It's poor customer service.
I never thought I would ever have to write this one, but the customer service I have received and subsequently not received from a place I have utilized for decades is annoying.
I have been dealing with the CIBC (Canadian Imperial Bank of Commerce) since around 1990 when I first began working for the Toronto Star newspaper upon graduation from Humber College's journalism program (damn fine school, by the way!).
I actually have nothing bad to say about the CIBC as a banking institution. They have been more than fair to me and their customer service has been pretty decent.
My complaint actually revolves around the CIBC Visa department. That's the CIBC's credit card department.
I have actually had a CIBC credit card since 1990. I even took one with me to Japan for three years and used it with aplomb to purchase many an antique piece of art I have. Thank-you for allowing me to do that.
I did cancel it a few years ago when I received a mortgage from another institution (arranged by my wife), even though I did continue to be a CIBC bank customer. That loyalty was rewarded in 2010 when the bank without much prompting offered me a $45,000 line of credit at a fantastic rate... simply because I had been a customer in very good standing. Again... thank-you very much. I owe you. Don't I?
However, in September of 2011 after learning from the CIBC that I could get a better banking account than the one I currently had with fewer bank charges, I jumped at that chance. Unfortunately, one of the things I had to do was open up a CIBC Visa credit card to get that better account. Sure there was a string attached to the bank account, but whatever.
CIBC Visa sent me a statement earlier this month warning me that I had charges totaling $357.22, and that I had missed a $20 minimum payment on January 14, and that I should pay a total minimum payment of $30 by February 14, 2012.
All cool. I should have made the measly $20 payment - but I forgot to do so. My car died (I hate SAAB!) on me and I had no time or even a way to make it to a bank.
However... on Saturday, January 21, 2012, I received a phone call from CIBC Visa. I should note that they also called on January 20 and again the day before that on January 19 - five days after my little $20 payment was due.
I picked up the phone this time, as I was in. By the way... no message was left the other times from CIBC, but thanks to Call Display on my phone, I know they had called.
The call was from some young woman with a thick Indian accent who identified herself, but not clearly.
Just for the record... I am of Indian descent, and although I have never been to India, my parents were both born there.
She began to warn me that I had missed a payment (Heavens! I am a whole seven days late! The sky is falling!), and that she didn't want my credit rating to be affected by any non-payment of bills owing.
First off... my credit rating is pretty damn good. I've also been a CIBC customer for decades, and have also been a credit card user with CIBC Visa for many years. However, according to her records, I am a new CIBC Visa credit card customer and she felt the need to inform me all about how I need to pay bills on time or suffer the wrath of the dreaded credit rating penalty.
Big whoop. I own nothing and am currently in no danger of owning a house or car. How will the threat of my credit rating going down affect me? Truthfully, it won't.
Still... I was late with a payment, and the CIBC Visa department was fair to warn me.
I do think it's ridiculous to call me and harass me for being seven days late. Only the day before had I received my credit card statement informing me I had missed a payment and to please make sure I paid the minimum by February 14, 2012.
But she kept on yammering at me. Chastising me. Trying to make me feel worthless.
Now maybe it was the nicotine withdrawls, or maybe I just don't care for people being dicks, but I had enough.
I told her I would make the $20 payment tomorrow (the 22nd.... which I did), but then she wanted to know how much of a payment I would be making on February 14.
I beg your pardon?
That's none of your business, I snapped.
She said it was.
Uh, no. I'll pay what I owe because I missed a payment, but it's no one's business how much money I will be paying for the next credit card statement! I have three weeks plus to think about it! I don't owe any sort of explanation to some stupid bitch in a call center whose weekly salary equals my daily salary (I exaggerate, but you know what I mean).
I told her I don't have to tell her what my future payment will be.
She argued that I had to, that it was CIBC Visa policy.
Bull.
I asked to speak with her manager, please.
She asked: "Why? Why do you want to speak to a manager?"
Are you serious? Why? I'm just thinking that. I tell her because I want to talk to your manager. That should be explanation enough.
She starts up again about the need to maintain my credit rating because I am so new to the CIBC Visa credit card.
Frustrated with not getting my request for a manager, I hung up on her.
I immediately called up the CIBC bank and asked who I could complain to about the CIBC Visa customer service. While they apologized profusely for that department's lack of tack, they are indeed a separate department, and I would have to call them. They politely transferred me and I was quickly picked up by a young Indian man whose name I can not pronounce. Still... his English was good and he was polite.
He heard my complaint, apologized to me, and even noted through his computer that someone from CIBC Visa had indeed talked to me minutes earlier. Good... they now believe I wasn't making up things.
I told him I wanted to talk to a manager to lodge a complaint.
He said no problem - that someone - a manager - would contact me within two working days.
Two days? Two working days? Is there not a single manager at this call center? Or... could this call center be in India... and it's going to take that long to get hold of some dumb Canadian manager to chat with me?
Two working days?
Uh, people... you dumb asses are working on a Saturday. As well... if I call CIBC Visa on Sunday, I'm pretty sure someone will be there to talk to me... that's also a working day. So technically, someone could call me on Sunday... or Monday if I really want to give them 48 hours and two working days.
But let's suppose the guy meant two business days - even though he did not state that - that would mean Tuesday, January 24, 2012.
It's Friday now. Friday, January 27, 2012. Seven days late. No one has called me back. No one. I know... I have Call freaking Display.
I suppose my request may have been lost in translation over this new interweeb thingamabob that Bob Dole invented a few years ago.
How quick CIBC Visa's customer service department was to get on the telephone to harass a long-time CIBC bank customer for being five days late with a $20 payment. Oh my god... did I cause CIBC to not make an extra couple of million dollars that week? I'm sorry. Please arrange to garnish my salary for a few weeks if that will help.
But look how slow they are to respond to a customer who wants service from a manager! It's all fine when you want my money, but not fine when I want--no demand--customer service.
For shame!
I will pay off my CIBC Visa, and while I will not cut it up, I will not use it ever again.
Do you know what I hate?
I hate the poor customer service offered by CIBC Visa. You suck.
You are on prolific dude. Love the last sentence of this post. Chuckle!
ReplyDeleteThank-you, Mike. You are an inspiration for me as a writer and thus as a person!
ReplyDeleteMonday, January 30 - still no call from CIBC Visa and thus still sucking the big one. By the way... I actually made a $30 payment 8 days ago. They got paid, why bother to call me - despite my request to talk to a manager, and being told one would call. Did the phones suddenly stop working? Did the computers not deliver a message? Surely my request is logged in my records. Tsk-tsk. You know what? I don't want to talk to you any more... I'll just continue doing what I'm doing, and CIBC Visa can continue to do whatever it is it is doing (sucking).
ReplyDeleteAs a follow-up, I have received a phone call from someone at CIBC who wants to talk to me about my social media ploy. My words, not hers. I was left a phone message and a phone number... but when I try to call her - and I did try three times during a busy day - I was directed directly to her phone message with a request to leave my phone number and that she would ball during regular business hours within the next 24 business hours. All fair... but I was asked to leave my work number -0 which is where I am during work. I don't feel like I want to do that - especially with no guarantee that the phone number I leave won't go into their system. It's a personal matter - on social media, of course - not a work matter. Basically, it's not that convenient for me to call, or to receive a call back.
ReplyDeleteI may try again on Feb. 2 when I get back from a magazine interview I need to conduct... but it is a 2 hour drive there and 2 hours back, not including time to interview. We'll see. Kudo's for this brave CIBC person to call me, though. It's funny. She identified herself as being from CIBC customer service department. Not CIBC Visa's. Perhaps they are the same entity... but the last person I talked to at CIBC made it clear that I would have to talk to someone at CIBC Visa - as though it was a separate department. Which is it? As mentioned... I don't have a problem with CIBC the banking institution. They have always been kind and courteous. I'm just not happy with the treatment from the CIBC Visa people.
She would "ball" during regular business hours?
DeleteHow did that go?
Last word on this topic. I must hand it to CIBC - the banking institution. That customer service manager called back again today, Feb. 2 - and we chatted. Lisa is a very pleasant person to talk to. We discussed the issues and she apologized for the lack of proper customer service from their CIBC Visa department with the added fact that they are looking into righting the wrong with how CIBC Visa goes about handling bill collection notification as well as how true customer service should be carried out. I believe her. She works for CIBC, and is a manager atop of the those who work at CIBC Visa... kind of like their ombudsmen's office. They want to ensure customer complaints are looked after and that their staff are doing their job effectively.
ReplyDeleteShe stayed late at the office to talk to me. That was cool. She didn't say that... I was just able to put two and two together from a message on her answering machine and from the fact that she was calling me from Toronto.
So... CIBC - you still don't suck. CIBC Visa - probably still... but at least it's good to know that CIBC takes complaints very seriously and is endeavoring to work to resolve them with the customer and within their own business.
Enough of this thread.
realy? it is not only the credit card department that needs adjustment, the other departments are harsh and cruel to deal with when one is in need of a little time, to bad they are loosing alot of clients, at my local cibc bank the line up
ReplyDeletehas become alot smaller then the other banks..
Hello Anonymous! Hey... I feel for you. Banks can be harsh. However, in my experience, I have generally had good customer service. I am sorry you have not. Obviously branches may vary. Heck, service may indeed vary depending on the customer you versus myself. It shouldn't, of course.
ReplyDeleteBest of luck to you, my friend.
CIBC as of April 1st is adding cancellation fees on their morgages and line of credit to the toon of $300. There is already penalties in place for the morgage. The fee is double dipping and I think should be outright illegle. I can only hope other customers join me on a mass exodus to my local credit union. After 36 years CIBC sucks BIGTIME.
ReplyDeleteWell said! I recently had the same experience and every rep I was transferred to was rude or didn't know what to say about a mistake they made. CIBC SUCKS!
ReplyDeleteI'm some 'other' Anonymous guy - just so you know it's someone else posting...
ReplyDeleteI too have come to view VISA as the devil incarnate. Like you, a solid customer for many, many, many years. Once, on a personal trip to Seattle about seventeen years ago, I found a deal on a computer system replete with toys and extras that I simply could not pass up - the problem - the total bill would exceed my 3K card limit by about $800 US. (of course they're much cheaper now, but I digress). Hmmm, what to do. Aha! I called VISA and said hi, this is me - they looked into their magic box and said sure enough it is you. I said, I'm here trying to buy computer stuff and it's a smoking hot deal - I told them the dilemma of getting a golden opportunity but then there's the extra 'almost 1K' problem Oh, no problem, they said - you're such a good customer we'll raise your limit right here and now this very instant. Gosh thanks - you guys are the best. Swipe the card - the machine gives an approving beep, and I'm happy. And I know the increased limit was approved, because otherwise the card machine would not have let the transaction go through - since I was still on the line with VISA, and the sales rep was standing in front of me, we all agreed the purchase had been approved and gone through. The only thing left to wonder was what would the total bill be when the exchange rate was calculated - oh well, wait and see.
Left the hotel the next morning, paying cash because for some reason my credit card payment simply would not go through. Didn't really give it a thought. Got off the plane back in Canada - went immediately, and oh I mean immediately - to an ATM and paid one thousand dollars toward my credit card bill just as an act of good faith, and figured I might as well wait for the bill before I pay more, because I have no idea what the final figure will be due to the exchange rate.
At 9:30 at night, three days after the good faith payment of 1K toward a bill I did not yet even have, I got the call. A person identifying themselves as from the bank, not from VISA - 'we want to know when we're getting our money back, because you went way over your limit'. Aggressive. Confrontational. Quite hostile. Wait a minute, this isn't a bank - banks can't speak, let alone operate a telephone - ah, it's a bill collector. Much to her surprise, I said 'but you must know about the payment I've already made'. Silence. Oops. Caught with your pants down sweetie? I said, 'the reason you don't know is because you're neither the bank, nor VISA, you're a bill collector and someone told you 'get that guy!'. And you happily obliged. I explained to her what happened, and then - shock of shocks - she apologized. We concluded our phone call. I immediately called VISA. Hi it's me again. Oh hi to our favourite customer! Uh huh. So, what's the remainder of my VISA bill? X dollars. Okay thanks. Went out directly and paid off the full amount that instant. Came back home. Called VISA the next day to make sure enough time had passed for them to get notification that the balance was now at zero. They said hi awesome customer that you are, we got it all, thanks! You're welcome said I. Now cancel my VISA card at once. Do not send me another one. I will never deal with you people ever again. But... but... WHY??? (sniffle...) I told them why. Oh. That.
Yes, that. I also promised I would tell everyone this story at every opportunity, and so I have once again.
BTW, I replaced it with a MasterCard the next day - and - I called VISA to tell them that MasterCard replaced them. I have never, ever had an issue with MasterCard - I'm sure someone may have, but my experience with them has been outstanding. Anyways, after that very long story (although cut down, as you may be surprised to find), I wanted to say I know whereof you speak. Down with VISA. Pass it on. ;o)
Thanks! I'm going to post this as a guest blog article under Poor Customer Service. Do you have a 'Nickname' I could use besides Anne Ominous?
DeleteWith the article - and then a tweet, it catches more attention.
VISA credit card - the entity - does have issues. The bank itself seems a lot nicer. Funnily enough, just today I increased my card limit.
I complied with the criteria prescribed by Aeroplan and spent and PAID over 50,000 from Jan.2013-until end of Dec. 2013 and should have cahieved "black status" on Aeroplan. I was listed as "silver" status and when I enquired why I wasn't granted "black", I was told it was because CIBC didn't notify Aeroplan of the expenses ans payments I made in December until mid January. I learned that CIBC is intricately allied with Aeroplan (part of same company)??? and this was their usual modus apparendi to ensure that silly saps like me are robbed of earned points!!! They constantly cut back on customer service( no longer returns cheques to those with chequing accounts but merely send a zeroxed copy of the front of cheques cashed) and REFUSE to send MY cheques back to me unless I PAY them to do so. So what if I require the original returned for tax purposes or for business ??? So now, I say F--- that useless bank and ALL of its "customer service "workers who cannot speak our lamguage intelligly and who become ignorant and belligerent when I say "excuse me, would you please repeat that?" They and other companies pay foreigners as opposed to Canadians to offer SERVICE in the FUCKING English language and that makes me sick because the "CUSTOMER NON-SERVICE workers are rude and ignorant.
DeleteScrew you CIBC and all my assets are moving to the bank across the street
You are exactly the type of customer I hate. YOU failed to pay your bill on time so now its everyone else problem because they dared to bother you a week after you failed to make said payment. I'm incredibly sorry that the customer service rep didn't treat you like the special, precious consumer you are but unfortunately when you don't pay a bill you have defaulted on your contract and you are now subject to calls and or other forms of commincation to make sure the company in question gets payment. Deadbeats always start out like you do and they quickly escalate into thousands of dollars of losses. The problem here is not the company, its your sense of entitlement (all too common these days). You repeated over and over again how long you've been a customer with them as if that means anything when you fail to pay a bill. Next time, instead of wasting numerous days trying to get your way, just make your payment and don't speak to a rep that calls you. You would've avoided this entire"fiasco" had you just done that. This wasn't an example of poor customer service. It was an example of a whiny, entitled baby who thinks he is so important and so significant that he shouldn't be bothered when "it's only been a week since the payment was due". I mean really do you hear yourself? Oh and yes, the rep has every right to inquire how much you will be sending with the next payment. It's how reps mark your account so they can make sure you keep your word. It's how they determine who can be trusted and who can't. Clearly you're in the former. Hope it all worked out for you in the end your pansy ass baby.
ReplyDeleteActually, the bank was on my side and agreed that their credit card department reacted too hastily.
DeleteYour language and efforts to call people names is sad. A pity people like you are too immature to provide proper customer assistance to loyal customers.
And... if the CIBC had not been so nice in dealing with me (the bank), I would have taken my substantial business elsewhere.
Thank you for calling me a deadbeat and a pansy ass baby. Oh, and whiny entitled baby.
Do you hear yourself?
How mature you are.
Another gutless anonymous coward. What company do you work for? Why be so afraid if your point is so correct? Afraid your bosses wouldn't like you talking about how you like to treat their customers? My... aren't you brave?
And the CIBC does trust me. Missing a payment by a couple of weeks after 20 years of loyal service does not deserve a harassing call.
I can only hop you don't work for the CIBC or any other institution I deal with because, quite frankly, you are an embarrassment to your so-called profession.
Your point is made.
I have published it. I don't have to, you know. I respect your opinion, even if I think its completely ignorant and proves how a few bad apples in customer service have no business being in the profession.
Oh... and today I dealt with a nice man named Stan at the CIBC credit card department who was most helpful. He knows what customer service about.
GFY, you obvious CIBC shill.
Delete"I can only hop... ." Not surprised.
DeleteWhen i was reading this i could not belive it. I thought to myself.. must be east indian.. and sure enough you admitted it. I have a small buisness and 90 % of people who dont pay, pay late, or expect everything for free. Are indian. I could only imagine what a country of a couple hundred million of you scumbags is like.. i would want to flee your country just like your father. Imagine someone owed you money and they just forgot about you?? You inquire about when and how much.. and you get nothing but a good ol indian argument. Why!! I dont have to!! Let me talk to your manager!! What did you think the call back would accomplish?? You just wanted somone to say sorry to your sorry ass for asking for their money back? Just pathetic!! No wonder why you have no assets and dont plan to own anything!! Thanks to you i will now have a contract i will make only east indians fill out before i give them service. In the rare event i might bump into someone like you!! Imagine dealing with yourself.. it would be mayhem.. why dont you crawl into a big blanket of naan and cry!! Remember where you are and what you have in life is the result of how you treat people in life
DeleteIts a terrible experience from them.
ReplyDeleteMy sister, the CIBC VISA card holder, passed away, I returned her card to the bank with her death certificate and last will. Imagine the bank never advised the VISA center, The VISA center had to call the bank for the death certificate and last will. You know where they were ---- LOSTED.
ReplyDeleteThree and a half months later, my sister's accounts still remained active with no mentioning anywhere that she had passed.
Trying to settle my sister's estate with CIBC is an impossible affair, the personnel are just incompetent, make you run around and around. Promise after promise, excuses after excuses. We are not talking about big money, just a few hundred dollars.
First of, sorry for your loss.
DeleteIt's a shame - and I'm not talking about CIBC - when companies give you the runaround after someone has died. I think more often than not, it's because people follow rules and don't follow their heart. Or, a lack of training. It's a shame when all you want to do is close out an account and get on with your life, and try and grieve - and some companies won't let you.
I hope you are able to get this resolved quickly.
Nice Blog , thanks for shareing the information
ReplyDeleteHad the same type of experience with CIBC credit card... Did not received statements so I was late by more 120 days. Then when I tried to pay they could not "because they closed my account". And then when I was finally able to pay they would not update equifax to tell them it was paid since it was not "their department".
ReplyDeleteWow... that bites.
DeleteJust a couple of weeks ago, I received the phone calls from CIBC for not paying my MONTHLY bill... I was four days late... I would prefer to do it when I get paid... so I purposely waited until pay day... but a few days late - there were the calls. They stopped about 30 minutes after I paid.
In my case I was late and they wanted to make sure I was going to pay - fine - but yours - owtch! That sucks....
So... what was your next step?
thank you for this article! the agents are merely padding their shift time, calling over & over to harass you over tiny amounts that mean nothing. home depot does the exact same thing. all companies should be checking their operators for this sort of time wasting activity. its not about you. its about filling up the day with bullsh*t calls so they dont have to do the real job of going after tough delinquent long standing non paying customers.
ReplyDeletecheerz!
I am impressed your blog because your blog words is very impressiveness for business growths so thanks a lot for sharing this Information.
ReplyDeleteThank you. Your blog was very helpful and efficient For Me,Thanks for Sharing the information.
ReplyDeleteHaving your own 1800 Number is one thing, being able to execute a good customer service is far more important.
ReplyDeleteJust got off the phone myself with CIBC Visa. We were paying off our entire amount last week, therefore were 2 weeks late on our payment (in waiting for the extra cash to pay entire $4K). So the payment apparently takes 4-5 business days to go thru (since when?) and when a preauthorized VISA payment tried to go thru it was denied.
ReplyDeleteI called these jokers that I've had a Visa with for over 20 years and was told that when it's over 30 days their computer generates that you are now 2 months late. No...that would be 60 days late I said. Sorry, that's not how our computers work the nice man at CIBC Visa told me.
Well, I will now be contacting the 2 companies that bill VISA monthly, will then call TD to get my best credit card rate and then cancel CIBC Visa.
Never in my life have I seen such a ridiculous practice!
You've taken enough of my money!
BYEEEE CIBC VISA!!
geezus... I've not had much better luck w/TD Visa in the past (I have both now)... but TD - they were the only ones to offer me a mortgage, when my own CIBC after 20 years of patronage wouldn't... After I got one, there was CIBC wondering why I didn't get a mortgage with them. They offered to take it over, if I wanted.
DeleteMy name is Clifton Williams and I am a Black Canadian. I would like to share with you a bad experience that I once had with CIBC as a customer for more than 7 years. During the year 2011, I went to deposit some money into my account at the Eglinton and Weston Road branch in Toronto. I deposited $51.00. A 50 dollar Canadian bill and 4 quarters; however, I did not notice at the time that one of the quarters was an American quarter. The bank teller was very rude and verbally aggressive about not wanting to deposit the American quarter. This made me so angry. I did not like his abrasive attitude and aggressive tone. I told him “you should not be a bank teller; you should be in the desert working with camels instead of working with CIBC bank.” After making that comment, I requested to speak with the bank manager. I was granted my request and I received an assurance from the bank manager that the American quarter was okay to deposit into my account. I told the manager that I wanted to file a complaint against the teller for the way that I was treated. I told her that I would like to escalate it to go as far as it could go. I was not rude with her and both of our demeanors were calm. I left the bank in a CALM state…..not at all upset. It was a shock to me to find out when I got home that the police was called and sent to my home address. They spoke with my wife and they informed her that they would like to speak with me about an incident at CIBC. I contacted the officer who left is number for me to call and spoke with him. I informed him about everything. He told me there was no problem he was just checking to make sure that I was okay. Okay that’s weird! Next, I was contacted by the Director of CIBC bank. He was very outraged. He told me that he was the one that sent the police officers to my home and he also informed me that I had less than 24 hours to close my CIBC account. He said he would personally transfer my money to another bank. I was now banned from all CIBC in Canada for telling a bank teller that I think he belongs in a desert looking after camels instead of working in a bank after he refused to provide me good customer service and respect. The teller raised his voice, yelled at me and tried his utmost to embarrass me in the CIBC bank and absolutely nothing happened to him. I believe that the Director wanted me to get arrested or something….but when that didn’t happen for him he was so upset that there was nothing else he could do except close my CIBC account. However, a ban? Isn’t that extreme?
ReplyDeleteTo conclude I hope that people think twice about banking with CIBC. I was with them for more than 7 years. Customer Loyalty! I don’t know how the Director who called police to my home, closed my account and banned me from every CIBC bank in Canada can sleep at night. All I can say is that he did me a favor, I understand now how SHADY CIBC bank is and I went to Royal Bank and I was very pleased with their service and still am. So to you Mr. Director, I wish you good health, peace and a good night’s rest. I am a decent productive Canadian citizen with no criminal record, cleaner than a whistle. You thought that you could get me charged….however; I am an educated person who knows the law of my country. I have never violated a single law and you and your connections cannot give me a criminal record.
Sincerely,
Happy I’m gone.
Former CIBC customer
Clifton Williams
I would definitely not let this one go. Unless you explicitly threatened violence, it sounds like this could be a human rights issue. Would they call the police on a Caucasian Canadian? Unlikely. I would recommend talking to the Human Rights Commission and see what they think. If they don't feel this is discrimination, at the very least I would tell your story to the CIBC ombudsman or the Ombudsman for Banking Services and Investments.
DeleteI agree with you here. But, feel free to use your own name. It's easy to be critical of others when you are anonymous.
DeleteAnd yeah, it wasn't important - in this instance - to bring up race.
I would like to share my experience with CIBC customer service in Line of Credit:
ReplyDeleteI have a line of credit with CIBC which is a huge inconvenience when it comes to monthly payment as there is no option for online payment so I have to physically go to a branch to deposit the cheque to pay for my LOC.
Two months ago I have paid out my entire LOC balance. Last week I received a statement in the amount of $0.08. Since the trip to a CIBC branch would cost me not just time, cost of cheque and gas which would be more than $0.08, I called customer service to see if they can void that amount, which is very minimal.
The cs I talked to took my card information but kept arguing that I have $0.80 owing rather than $0.08. It went on for over 5 min due to this staff's incompetency to be able to read customer information right. Then He argued that I told him "eighty" while I repeatedly said "eight cents". I said "I hope you have voice recording of this conversation". Then he said "fine. I don't see your concern, you can go to a branch to pay for $0.08". I would expect a good customer service from him to say "For the sake of customer time, gas, I appreciate your business and I can take care of this for you".
Since 15 minutes already passed and I don't see that he is able to help me, I asked to speak with his manager. I was put on hold for another 15 minutes. The supervisor finally picked up the phone. To my shock, after my explanation of my experience with her staff, she arrogantly told me "I can credit this $0.08, but you do need to understand this is a ONE TIME thing of a goodwill from CIBC" as if I was asking her to void a hundred dollar balance.
So I just told her that I would rather take care of this myself by driving to a branch and pay for a dime for the balance.
My experience with CIBC customer service is that they don't appreciate customer at ALL and certainly don't listen. I have never dealt with any other bank's customer service that is close to this BAD.
Wow.... that sucks. Maybe we should start detailing WHICH branches are the problem... because... NOT every branch or employee at a bank works this way... and I am sure we could find some bad apples at other banks, too.
DeleteBut still... all this and record profits, too.
It didn't happen in the branch. Otherwise I would just pay the outstanding balance (regardless the amount) instead of wasting my time. It's the 1-800 # of CIBC, Line of Credit Customer Service that I had problem with from my last posting.
DeleteDamn. Customer service. People seem to forget that.
DeleteAll I can tell you is that after I wrote my first story on the CIBC and then tweeted it, the CIBC bank called to apologize for their CIBC sister company CIBC Visa...
Obviously you and I aren't alone as there has been over 3200 people who have read this particular blog... certainly a far cry from the men who want to read my other blog about teenaged prostitutes in Japan which has 90,000 hits.
But still... 3200 people... which means people have read it because they too have had a problem.
Hopefully the CIBC continues to monitor the social media for comments about itself.
Tell you what... I shall do another post on the weekend... and I'll take all the comments from people such as yourself and we'll make a new complaint. Maybe they'll take a clue.
There is nothing more frustrating than not being helped.
CIBC Visa isn't the only problem. I've looked over many of the replies, and can say for certain that a large volume of the branches have low-paid tellers who don't care about how long you've been a customer, or even how much you have in your bank account.
DeleteIf you're a business or small business owner, you'll get shuttled in to a private room where a slick-as-oil car salesman will off you a great variety of products in an effort to boost his or her sales and ultimately put you at the brink of what you or your company can handle.
CIBC Visa is worse. My personal problems started much the same - thirty or forty bucks can be easy to forget, but lose your job and miss a month and a half?
I'm still getting calls, ten or more times a day, even though I make regular payments. They start at exactly 8:05AM and don't stop until 7:45 PM. This is to say even though I'm making regular payments. If I do answer, I usually get the usual audio reel about my credit rating. If I say that I don't particularly care about my credit rating, or can't pay some ridiculous sum they come up with, I'm usually confronted by a suddenly angry and righteous man with the rationale of a peanut. I've been asked, "where do you work?" and "what's your salary?" and "do you even live in a house?" as though like Anonymous posted above, I was some low-life loser living off pan handling. Even if I was pan handling, I was assured, I would be still required to put all my hard earned coins into paying off my debt. Debts - once you have one, you're classed as someone who doesn't pay off anything.
I think the most insulting thing though was I had made arrangements to make a fairly large sum for my income, which I did immediately, even giving the guy on the phone a confirmation number for the transfer (which, by all rights, I didn't have to do), he immediately went and took an even larger sum out of a joint account (which, by all rights, is illegal, as the other party had no knowledge of the transfer).
After I called to complain about that, I got the usual "debts" speech, names flew back and forth, and they raised my interest rate from 10% to 30%. If I paid at their minimum, it will now take me 48 years to pay off. Wonderful people!
Since then, I've put a call-blocking and call-logging feature on my phones, and pay when I can, what I can, and VISA be damned.
In fact, as soon as we can take our mortgage to another bank, CIBC bank can take their 32 dollar a month banking charges and shove it. THAT's how they treat 40 year customers.
I am a new member of the CIBC here in BC. I am on social assistance and I went to the bank to deposit a BC Government cheque. I went to the bank on the 14th of January 2014. I went in on the 16th and found to my dismay that the funds will not clear till the 21st. How can the bank take a full 7 days to clear a government cheque? With other banks I can take a picture with my smart phone and withdraw funds the next day. When I use the banks own system it takes 7 days? Time to move to another bank... Seems CIBC could care less who they screw. Especially if it is a poor pensioner.
ReplyDeleteI don't know how that cheque clearing thing works. I can either go in person or use a bank machine - as long as it is a CIBC one - and my cheque is automatically cleared.
DeletePerhaps one has to build up trust first.
I know of the photo deposit thing of which you speak. It's interesting... and it does mean that the bank has to trust you...
Obviously, like you at the CIBC and my wife at TD, your "trust" rating seems to be the issue. But... HOW does one get that trust?
I fell bad that anyone... especially a pensioner... is forced to wait that long. Did you go back and ask if they could at the least help you out by speeding up the process?
I'm shaking my head as I write this. I just can't believe the horror stories I am hearing.
My friend... if you do take your business to another bank... get it in writing that your cheque will be honored immediately. wow...
We applied for a mortgage and found out that we owe $62 to CIBC Visa, even though we do not remember having a credit card with them, so when we called we were informed that we had a CITI Card with Petro canada and in 2011 it became cibc card! When this happened we canceled it, but after 2 years we found out our credit was effected badly and we may not get the mortgage and lose the home we like to buy because of their mistake!
ReplyDeleteIn November 2011, I parked my car at a hospital. My mom who had just completed 30 rounds of radiation had contracted a staph disease. I did not think of anything but reaching her in that moment. I used my cibc visa. It cleared I did not think anything of it.
ReplyDeleteAbout a month later, I got my statement in which showed my parking payment put me 2.34 over my limit which resulted in a 25.00 over limit fee. I called to complain and no one would budge as they said it was their policy.
During the months that followed I began caring full time for my mom while balancing 2 kids and trying to work and times got rough. I mean rough. I was struggling each month to make ends meet and to be honest I was often late with my payments. I blame myself for this. However I was vocal with my bill collectors. We all were able to come to an arrangement which helped me out . All except cibc who kept tacking late charges and over limit fees .
In those months I was struggling. I ended up with 600 dollars in over limit fees . The payments were so high I could not keep up at all. Even when I tried to make a payment arrangement they would not help. I escalated the call to a higher level of customer service. The woman called me back but each time I tried to speak to her she would never answer. After months of chasing her I have given up. Each month I had to re-tell my story to a new agent from cibc . I had such rude people to deal with during a horrible time in my life. Even now as I am trying to bounce back I still get harassing calls from them. I cannot wait to have that card paid off and I will never deal with cibc again.
CIBC VISA are dishonest and clearly don't care about their customers. I have been a good customer for over 20 years without incident. 6 months ago I had fraudulent charges totalling about $5000 posted to my account. Some of these were for heavy industrial commercial products - didn't raise a flag for the VISA people, though I have had phone calls when I make a few purchases at BestBuy!! Because of an auto pay setup of my bill, I didn't notice this error until about 2m later. After contacting VISA, they said because it is more than 30 days, they can do nothing to reverse the charges. Their suggestion was to contact the merchants. I identified the merchants, confirmed with them that I didn't authorize the transactions, but they delivered a product or service to someone, so weren't going to reimburse me. Working back to VISA, I made many, many phone calls. I would get misleading information, stating they would do an investigation, wait 60 days. Of course nothing was done, and their response was no investigation, no refund, go away. The complaint escalation process doesn't investigate anything, except the responses by the CIBC staff, and then it is dismissed. No apologies, no concern about fraud. Yes I obviously cancelled my card an was reissued another - one I will not use. I haven't cancelled the new one, thinking maybe I will get some reimbursement. Not likely. Lawyers now involved. Pathetic response from CIBC VISA.
ReplyDeleteHi there.
ReplyDeleteI found this blog recently after leaving CIBC as an employee having many years of experience as a banker.
I WILL post my experience as neutrally as possible.
I have read this entire blog and as an teller, financial services rep, branch manager and district manager....these concerns are all very common place at CIBC....
Umfortunately, the local employees in the branch that you go to or the branch down the street have absolutely ZERO say over bank policy or procedure. The only thing that they can do is compensate you somehow with some sort of monetary reimbursement. Whatever issue you had will likely reoccur, including issues with CIBC visa...
CIBC visa is absolutely owned by CIBC.. some employees may tell you otherwise.
The company as a whole does not work together. Branches and visa or branches and mortgage dept or branches and wood gundy etc do not communicate or have the same objectives...therefore the customer suffers...this is a HUGE problem for cibc and something they have been working on to correct...unfortunately the company has too many very high paid people at the top who cannot agree on anything and if they finally do the message received at the bottom is so distorted it makes zero sense especially to the end user.....the customer.
The company is fundamentally broken due to lack of training, supportive management, greed and understanding of the average consumer.
My advice.....there are FAR better institutions out there to deal with...some may say they are all the same....yes, they all offer similar products and services however each are unique.... ask a cibc employee confidentiality how they like the company they work for....
Finally, if you have a problem.....skip your local branch.... call customer care...give them 1 shot to fix your problem....JUST one sshot.if they cannot do it immediately go to the CIBC ombudsman. If they cannot fix it in one call, STOP.....go to the ombudsman for financial services Canada. Issues rarely go this far......without resolution.
Dont play around with this company. They will waste your time.
If you have questions, feel free to reply.
Is there any other resource to help me? I have had an awful time because of CIBC and their CEO is inaccesible ......does he even know or care what damage they cause long time customers?
DeleteThe Ombudsman... yes... an excellent suggestion from Mike S. That's a great suggestion, Lillian. Here's the link:
Deletehttps://www.cibc.com/ca/cibc-and-you/to-our-customers/service-commitment/resolving-complaints/ombudsman.html
Let me know how this works out.
Mike S.... thanks for the honest feedback.
I had received calls about making a payment several times over the last ten years on my credit card and decided finally after dealing with the "when are you going to make this payment". Then I had a fraudulent charge of only 220.00, which I had to deal with. Transferred to 3 people, 30 minutes later I was getting a letter I had to sign and return before they could investigate. I was just going to pay it off and get a card with my bank. I called them, asked for my balance and went to a CIBC branch and made the payment and told them I was cancelling the card and service. Done? No, I got a call from them a month ago saying I owed $26, obviously the balance had some interest. "When am I going to make the payment"...again.
ReplyDeleteI just got a statement with a new balance of over $660. 1 hour on the phone, transferred 5 times from customer service to fraud etc. Customer service said the 220 fraud claim had not been credited. Fraud told me the 220 claim had been credited. The other 440 was a purchase I had made and returned long before I cleared up my balance. Again, 1 hour, 5 people I was transferred to and no resolution. I don't have access to the account on-line because it seems that you need to be a Russian hacker to have that privilege.
Hello i completely understand your frustration here. They called to just remind you, no intention to harass you but what went wrong? Actually the lady who called you frustrated you, she did not proceed with your request. First of all it is not her business to ask when or what payment you are going to make, it is entirely upto you. It is good that they reminded you again if you miss you your payment again then it will affect your credit rating. When you asked for the manager it is ok she asked why you want to speak to the manager ( probably she must be thinking that she could help you) but if requested again without any question she should have transferred your call to her manager.
ReplyDeleteSometimes you need to have patience, if you could not understand her at that time, you should have said politely hey listen don't want to be rude but can you ask someone else to call me, it is really hard for me to understand you! Things would have not gone so far then! Hope you understand what i mean.
I do understand what you mean.
ReplyDeleteBUT... there was NO need to call me up to remind that I was late on a payment. If someone has missed a payment, the CIBC sends out their next bill with the reminder that you missed a payment.
Now... they then state, on the bill, that the first payment should be remitted immediately, and that the second payment is due a few weeks later.
That's cool.
BUT... I got a phone call just days after missing my initial payment.
That is harassment.
It's also a reason why CIBC the bank is NONE TO PLEASED with CIBC VISA. Representatives at CIBC told me they dislike the way that arm of the company is run and that it is bad for business as well as customer service. It was why the CIBC (the bank) apologized to me for the actions of the VISA arm.
Patience? I have plenty of patience. However... the point is, CIBC VISA lacked patience by calling me up to harass me so soon after a missed initial period.
My sister passed away unexpectedly August 2013. She had a mortgage and accounts with CIBC. I passed the death certificate to the local branch and had an interesting conversation with the local representative.She said the bank policy is that it want's to continue to be paid. My sister lived pay cheque to pay cheque.
ReplyDeleteI cost me and my surviving sister thousands of $$ doing the right thing. CIBC will not disclose anything to a next of kin with regard to the financial status of our sister. She died without a will (Intestate) in a remote village on Vancouver Island. So I had to find out what her financial situation was. The Canadian Imperial Bank of Commerce was no help at all. In fact they were and are the problem.
We ensured that the property was taken care off. This was all new to me, and it was suggested that I contact the Public Guardian and Trustee.
It was interesting that the case administrator said he had more problems dealing with CIBC than any other bank. On conclusion he was able to determine that the estate was insolvent and could not take on administration.
Ouch, now what do I do? I closed all the commercial accounts and it was interesting. Most contacts were very helpful and they closed the accounts at the time of death and took the loss or refund. Not CIBC. There policies ensure that the dead persons accounts remain active off limits to next of kin and drain them!!!
Then in steps the Estate Resolution Department. I dealt every cooperatively with them and they asked me to apply for insurance were CIBC was the beneficiary for 2 accounts, I did that and worked to speed up the process of foreclosing on the property. In effect they ask me to take action to protect them, and I did.
Then comes foreclosure. Why am I named in the petition to the Supreme Court of BC. Don"i worry it's just a formality. No this is personal, I am only next of kin. (I had no dealings with my sister's finances at all, and am not on the title to the property, nor co-signed for any debts).
It's interesting that I knew my sister had some money in the CIBC accounts. Now with CIBC continuing to pay themselves I get a new call 7 months after her death. Will you apply for insurance on a PLC with CIBC the beneficiary? Well on second thought, I am just going to wait for the Supreme Court of BC to conclude the foreclosure, then I will decide. Oh boy, now the real CIBC shows itself.
A true collection agency that takes no risk and drains accounts of insolvent estates, sums up the CIBC.
Wow...
ReplyDeleteFirst of... my condolences to you over the passing of your sister.
It sure does sound like the typical big bank acting like a loan shark or pimp screwing 'where's ma money, b!tch?!"
The fact that there was no will should absolve YOU of having to do anything... unless you co-signed on the mortgage... and it doesn't appear, from what you have stated, that you have.
I'm no financial expert, and I suspect you aren't either, but it sure sounds like someone at the CIBC got you to do their dirty work for them to get the money owed them.
I would assume that with no will... properties and effects are sold off to pay down any debt owed... and rather than waiting for that to happen in its natural state, tried to get you to speed things up for them. Again... that's what it seems like... I'm not an expert...
I have no idea why you are even involved except that you tried to do the right thing and close off your sister's accounts everywhere...
Pay cheque-to-pay-cheque... that's my life these past five years, too. I sometimes don't even have gas to get to work, and 'borrow' money from my kid's piggy bank (thanks, Grandma) to grab $5 to get enough gas to get there and hopefully back again (so far, so good) until the paycheck comes through. In my case, I don't own anything (anymore), but owe a chunk of change on a loan that I will pay off over the next 20 years... I wonder what happens if I die suddenly? I probably knew at one time, but I with all the loan agreements done over the phone, I'm sure I don't know the particulars now...
Good luck with your situation... I hope it's not a long, drawn out ordeal.
I needed to know that I was not alone-unbelievable! I already feel better. I HATE cibc. I moved to the country and do not have access to a car during 'business' hours, making it difficult (nearly impossible) to get to the cibc bank to pay my LOC. I used to pay the bill through THEIR bank machine only to find out that the payment wasn't registering with cibc for over A WEEK! But that's a different story...I have been receiving up to 13!!! calls a days because I am late on the loc. Is that not harassment? I have a record - call display. It has upset me to the point that it is now affecting my health. There must be someone such as crtc that woukd be able to deal with this no? 13 calls a DAY!!
ReplyDeleteWOW!!! I am overwhelmed by the number of complaints about CIBC.
ReplyDeleteI had an account with them years ago for convenience. With that account I had an overdraft. Unfortunately I had some issues and it got out of control. I eventually paid it off and the account was closed ( by CIBC I believe ). That was more than TEN years ago.
Since then I have done a good job of fixing my credit rating.
I am now on disability and I'm doing my best to live on a fixed income.
Just today I received a phone call from a collection agency. The fellow on the other end states I have an outstanding balance with CIBC Visa well over $2000.00. This balance has been in collections since 2004.
I must state that I have a CIBC MasterCard only because my Cities MasterCard account was sold to CIBC. I don't use this card at all.
Somehow they found my phone number and after TEN years they now want me to pay.
The agent told me they would be willing to cut me a deal but I told him my situation and I do not know where the balance came from. We were both very polite to each other and he told me to go online and google "CIBC customer relations" and I could then find out where the charges etc... occurred.
I did just that and got nowhere. I've been online for more than an hour trying to find information on this account. Then I found this blog...
The collections rep also gave me his contact information so that I could call him back directly once I find out the particulars of this account.
I've found nothing...
Does anyone know if there is some kind of limit as to how long they have to collect? If this is a case of identity theft it has now been over TEN years.
I can't afford to pay this much and refuse to pay off an account I know nothing about.
Can they just call after so long and demand payment?
Where do I go for help???
I didn't like CIBC back then and now that I've read all these complaints I like them even less. Now after a decade of not dealing with them they are suddenly back in my life and it feels as if they are trying to extort money from me.
I now deal with Tangerine (formerly ING now bought by Scotia bank).
No monthly fees and higher than normal interest.
And customer service is second to none. No waiting on hold and a real person answers.
Don't know what province you are in, but in Ontario if no payments are made within 2 years the Limitations Act applies, and you cannot be sued to collect. I'd tell the Collection Agency to pound salt and drop a Cease and Desist letter on them.
DeleteI would like to add my bitter experience with a credit card company that likes to use CIBC's name. So I made the mistake of making a purchase of approximately $5,600 for some computer equipment from a seller using paypal. I had agreed to pay this amount for the computer equipment only if it would include adapters for me to use my own high-end power supply with. The seller shipped the item late which ended up arriving at the beginning of the next month. I noticed the adapters were not included and the seller would not respond with a solution, he included low-end power supplies which he assured me would do the job. I left the unit running and 2 weeks later I notice the power cords from the power supply had melted and the units seemed to be fried. I couldn't complain to paypal as it was beyond their 45 day limit so I called up CIBC Credit Card Services and explained the situation to the employee. I had tried to make clear that I did not authorize a purchase for the items that were sent to me, they were materially different and the employee told me I should ship the item back and they would proceed with the dispute despite being over 30 days.
ReplyDeleteI didn't know there was a clause in the cardholder agreement saying I only had 30 days to file a complaint considering I did a charge-back for a similar purchase a year ago and it was well over 2 months past the date and I had no problem doing a charge-back! The charge-back I did over a year ago wasn't even a charge I didn't authorize whereas this was, so I shouldn't be liable in any way!
The next week I receive a phone call from a thickly-accented Indian lady whose name I couldn't pronounce (I see a pattern here) and she attempted to give me a scripted speech about their 30-day policy and I told her it was bs, and she did not acknowledge my faxed documents and I asked to speak to a manager (surprise, surprise, there was no manager around) she dodged the question and told me somebody would contact me within the next couple days (nobody contacted me until over a week later). When I answered the phone to speak to a "manager' it sounded exactly like the 1st Indian lady I spoke to and it ended with the same result, I asked for the complaint to be escalated and nobody called me again from that point on.
I receive a letter last week stating that they WON'T dispute my unauthorized transaction (which I shouldn't be liable for under Visa's "zero-liability" policy). I was furious and sent multiple emails to all available customer service addresses listed on their website. I still have not heard back and it looks like CIBC Visa is ruining the CIBC name as I never had a problem with the banking system, and they even seem to randomly decide which rules set out by themselves they follow and which ones they don't. Just because they write a barely visible clause doesn't make it law, they have a responsibility to protect their customers from fraudulent charges and acknowledge when a customer is not liable for a transaction.
I would advise anyone considering CIBC's Visa service to RECONSIDER! I would not trust them as far I could throw them, they are worse then the shady seller I purchased from and even less helpful or informative. They will try to convince you that their word is law and that just isn't true. They will deceive you and in my case, advise you to send back an item you paid for with the promise of a refund and then wipe their hands of you, as a customer of 20 years I am shocked and disgusted that this is how they treat people (worse than a diseased animal) and they take our money without question!
I am a relative newcomer to Canada from the UK. Have a relationship with CIBC going back 8 years, had a mortgage, repaid in full. Have managed to get a credit card having established some credit history (my mortgage didn’t count in the eyes of CIBC Visa?). Never missed a payment, been a good boy.
ReplyDeleteThis month my payment due was around $250. I arranged for $200 to be transferred across from my current account (why does it take so long to be credit to my account in this day and age???) and then arranged for around $3,200 to be transferred from some UK investment accounts direct to my CIBC Visa account. I figured I had facilitated the payment of some $3,400 to CIBC Visa compared to my minimum required payment of some $250. All well and good I thought.
Unfortunately CIBC Visa didn’t agree. The $3,200 transfers from my UK Investments didn’t count as repayments. I am not sure what they count as frankly, they have had the result or reducing the balance I owe so……??? Anyway, clearly I had underpaid by $50 rather than overpaid by $3,150 and thus my credit limit was cut by $5,500 immediately and without notification – still non received – leaving me with available credit of around $100. If I had a poor credit history with them then maybe I could sort of understand such a reaction. Just feels way out of proportion.
I have now made 3 complaints to CIBC and have yet to have a single response. I spent one hour on the phone from the UK (imagine the cost) on Sunday 19th Oct, promised a response within 48 hours. Nothing. I then elevated to the customer complaints team by email on Thursday 23rd, their service level is to respond within 2 working days. Nothing. I have just sent a further complaint to the same, I wont hold my breath. I would like to escalate this further as am seriously unhappy with the actions taken and the subsequent failure to respond. No wonder CIBC do so bad in the JD Power surveys of customer satisfaction. I have this quaint idea that customer loyalty should be rewarded in someway, what a fool. It looks like it is time to relocate my business to TD, at least they are consistently rated the best of the big 5 banks for customer service, CIBC have a proud record over the past 5 or so years of being the worst it seems. On this experience I am not surprised. Sad. Maybe someone in CIBC with some power will read these blogs and get the message, maybe.
wow... so where is the $3200 and do you still maintain access to it? If Visa has it - where do they have it and why?
DeleteI've never heard of anyone cutting a credit limit...
And why, in heck did you TRY to over pay the Visa? Surely it would have been better (in hindsight) to have it transferred to your bank account and THEN transfer money from there to Visa.
Where does Visa say that $3200 is now?
Let me/us know.
CIBC exposed their clients' info. and portfolio data to a third party company. Don't trust CIBC.
ReplyDeleteCIBC has exposed their clients' personal info. and portfolio to a third party company. Don't trust them.
ReplyDeleteI too have suffered at the hands of CIBC. I am a student, with close to no immediate funding. I needed a credit card to rent books so I trusted CIBC. They gave me a $500 limit, which is fantastic. I always paid it back if I used anything. This summer, they thought it upon themselves to give me a cash advance on my credit card. Without my request, without my consent. I called them and asked them what it was, they said it was my money. Now, being a broke student, I figured it was my tax refund and somehow got into my credit account, I should quickly throw it into my checking account. I did so. I used some of the money and then realized I owed CIBC $1800. WHAT?! I put back $800 and called them immediately. They said it was money they loaned me. But I did not ask for a loan. I was transferred, some lady answered me, she yelled at me, said she could not trust me because I claim to be outside the country and pressured me into making a payment schedule I cannot afford. I hung up then called back, I was in tears. I have social anxiety and hate talking on the phone, when I get yelled at for something I did not do or something I tried to fix, things get worse. The advisor that answered me heard me cry and asked me to vent. After a while I made a payment to CIBC with plans to pay off the full amount I "owe". The payment bounced back to my foreign bank, less than what I had transferred. I tried again, the same happened. An advisor told me I was a victim of fraud so they started an investigation. I called back a week later to follow up. Bare in mind, I was calling from outside Canada so the phone charges were brutal. The fraud guy yelled at me. He talked to me like I was a stupid thief, who somehow used $1800 in Canada then fled the country and is now calling CIBC to fix the credit issue because she is THAT dumb. I was furious. I asked for the manager and she listened to the call and admitted that they made a mistake but would still NOT compensate me. I only asked for the money I did NOT spend. She removed the interest on the account and again asked me for a payment schedule. My boyfriend told me email the ombudsman, I did, she referred me to client care. She said she filed a complaint and asked me to confirm a payment schedule.
ReplyDeleteThis is terrible for me. As a broke student and someone with crippling social anxiety nothing could be worse. My boyfriend has offered to deal on my behalf but I do not believe it should be this way. I am now forced to make a full payment in $1000 because I am tired of them calling/emailing me and dealing with them.
I should also mention I missed a lot of days at work because I have suffered multiple panic attacks. I do not solely blame CIBC for these, but they definitely triggered them. I had not had them for a very long time. Seriously, students are poor as it is.
here is one for all of you to take notice of , how would you like to deposit your own money in your account and now you need a lawyer to help you remove it from the bank well, i am that person and its no joke , If this was not real life you could swear its a practical joke ,and the topping on the cake for all this how about cibc trying to get you to sign a document to commit fraud so they can legally hold your money this is no joke , I just lost so much faith in this banking system its not funny, my layer is still working to get my money out of the bank , more to come so wait for the next chapter
ReplyDeleteI had an experience with CIBC when I was renewing my mortgage last year and I brought my partner with me who sells heavy duty equipment and helps customers with financing etc. and is pretty much a human calculator. My mortgage is on a rental house and my partner wanted to know what the penalty would be if we decided half way through the renewal term to sell the house. The mortgage person said you would have to go on line and do so. My partner said we are signing a contract here surely if you use todays interest rates, you can tell us what that might be. Blank look. Goes and brings in another mortgage person who she tells us has over 20 years mortgage experience. Great this person will know. Nope get the same response, can't tell us that because won't know what the interest rates will be in the future. We kept saying just based on todays rate what it would be. By this point partner is getting pretty steamed. I reiterate slowly what we were looking for to keep the situation calm. They start plugging figures in finally into their computer and come up with a figure. I might add that my partner has a mortgage with Scotia Bank and the person he deals with can pretty much rattle this information off at the drop of a hat. My partner was pretty steamed that CIBC could not tell us, on a contract we were signing, what penalties there are if we had to get out of it and that we could go home and figure that out on the internet ourselves. I kept thinking - what if I was an elderly person or someone young signing their first mortgage and just taking them at their word. CIBC's profits are so high and yet 99% of the banking done is done virtually by us the customer. I can go a year without even seeing a teller. I expect more from a mortgage specialist as well. I too also had a bad experience with CIBC and their VISA department and have cancelled my card - went to pay the balance and they have removed the card from my list of bills - I have banked with CIBC for 33 years, had 2 mortgages with them, car loan etc.and am told that I am a valued long time customer. And the phone calls in the evenings I get asking if I need a new Visa Card, New line of Credit etc. because I am such a valued customer. Needless to say I am migrating my accounts over to a new bank.
ReplyDeleteHere is my CIBC story,
ReplyDeleteMe and my wife, we are seniors citizens. I am still working but my wife has not have a paying job for the last 25 years. Her personal income presently consists of about $5000 per year of Government pension and she had financial problems in the mid-1990s, therefore she had a poor credit rating. We have one joint bank account (Scotia Bank) were we deposit the pension cheques and where the bank withdraw the mortgage payments.
Wanted to have the feeling of some financial independence, long time ago (may be 8-9 years ago or so), my wife had opened an account with CIBC in her name only. For some strange reason the financial "experts" from CIBC gave her 2 VISA credit cards with very high credit limits, a CIBC SELECT VISA with a limit of $14,500(!) and a CIBC AVENTURA GOLD VISA with a limit of $12,800 (!). I was not aware of this fact, at that time!
Going forward, on March 10, 2015, I got a phone call on my mobile phone. The caller ID showed 1-800-683-5914 and I answered. A female voice presented herself a Canada Revenue Agency employee. She said that she just talked to my wife, that CAR tried twice to send her some refund money but they came back. She also said that she wanted to verify the bank account in order to deposit this “refund” directly into my wife’s account. She also said that she asked my wife about this but my wife was not sure which bank we use. She also seemed to know the address of the Scotia Bank we use but wanted a confirmation. Misguided by the 1-800 phone number I confirmed the bank without disclosing the account number. The lady kept chatting a while about the “refund” money, $1239.42 exactly, will be deposited in 3 to 5 business days. She also apologized on behalf of Revenue Canada for the “mistake”.
After a day or two, in order to eliminate some suspicions I started to have, I tried several times calling the 1-800 phone number but was no answer. Trying to clear the issue, on March 13, 2015 I called CAR (Canada Revenue Agency) and explained the situation. They told me that CAR will never ask such personal questions via telephone and they advised me to call the ANTI-FRAUD line. I did this immediately, explained the situation again, and they opened a file.
After a few days, using my ATM card, I tried to see how much money we have in the account because soon will be the mortgage payment day. But the ATM card did not access the account. I inquired with the bank and they told me that the account is garnished for an amount of about $45,000 (!!) but they can not give me details because the garnishment is in the name of my spouse. I would like to mention that my wife is very sick, being in and out of hospital.
At home I found in the mailbox a letter from Anderson & Sinclair Law firm dated March 13, 2015, containing a notice of garnishment and an Affidavit of a paralegal (Karen Harjohn) giving, among other details, the address and transit number of the Bank of Nova Scotia.
Analyzing all these facts I alleged that, on behalf of CIBC, the law firm of Anderson & Sinclair used spoof phone numbers and impersonating Canada Revenue Agency employee in order to obtain personal data.
Checking the explanation of the $45,000 my wife supposed to repay, the original amount was much less but for years they kept running the credit card enormous interest which increased the amount by a lot.
CIBC is in financial business and is fair to assume that they must be experts in the field. My 75 years old wife may be an idiot when it comes to spending money but based on what data CIBC gave her such huge unsecured credit cards limits? I see this as an entrapment attempt in order to squeeze us out of our assets.I can see clearly that, if an ordinary person makes a judgment mistake, it will pay thru the nose. If a big financial institution makes a similar judgment mistake, the same ordinary person will still pay thru the nose!
What can I do?
WOW and I thought I had problems with CIBC
ReplyDeleteI thought CIBC has very good customer service. Thanks for sharing..
ReplyDeleteI applied for a CIBC visa. Tim Horton's edition. Because of the special new card with two little buttons that indicate visa card or Tims card .. Anyway the card does not work in any other banks machines. Only works in CIBC machines. CIBC told me it is a special card that only works at CIBC machines. It works fine at stores and restaurants ... So then I went to CIBC to use it and there was a security hold on the card ... Because the day before I had used it a bunch of different branches trying to get it to work.. Now I have to fax them a bunch of documents to prove its my card. Totally insane
ReplyDeleteCIBC sucks big time! They are the most incompetent bank i have ever dealt with in my banking experience in Canada, US and Overseas. No worse bank can be found.
ReplyDeleteI opened a CIBC bank account a year ago for one main reason, my real-estate lawyer only dealt with major canadian banks for transfers and direct deposits (and i so hate dealing with cheques).
Because of bad service and exorbitant service fees, I had closed down all my canadian bank accounts (Scotiabank, TD, CIBC) over 10 years ago and have held my funds at a credit union since (which IMHO is the best form of financial institution around).
Now with this new CIBC bank account, i have nothing but headaches. On occasion, bills i have arranged to pay don't get deducted from my account (blame faulty online system). But the worst experience happened this week!
I just flew overseas to get married, and the branch rep told me about this "great new service" called CIBC Global Money Transfer where with online banking i can send upto $10,000/day overseas without any service fee. Instead of taking cash out and converting it to foreign currency (to save money and less risk), i made a transfer to my fiancee's overseas account the day i departed.
I was seriously misinformed. First, $10000 is not allowed to be transferred at one time! After long telephone discussion with CIBC, i found out that only $3000 can be transferred at one time! So i made a smaller transfer thinking i can make the next transfer the next day.
But i couldn't. Instead of providing a great service, CIBC shut down my online banking due to a "potential security breach" Not only can i not transfer additional funds, they have restricted billpay services so i cant even pay my gas or electricity bills while i am gone! I just tried to call CIBC, but the person at the call center was not equipped to deal with the issue and told me to speak to someone qualified during normal business hours!
So here i sit overseas, with no access to my funds, and without sufficient funds to pay for our wedding! Talk about being stressed!
No question i'm terminating my relationship with CIBC upon my return.
And thanks for screwing up our wedding plans CIBC!
OMG. That sucks. I am sorry to hear about how it is screwing up the wedding plans!
DeleteI have heard that for any money amount of $10K and up is a no-no... because they (all) want to stop so-called money-laundering. But limiting it to only $3K? That's bad when no one told you that!
I hope you resolve things, but really... if possible, concentrate on your wife-to-be... that's the #1 important thing... I know it leaves you with insufficient funds, though.
Is there any way to direct your home account to 'place' money into accounts of family back home and then have them wire that amount to you?
I know my wife was able to receive 'money' from her brother out in British Columbia to Toronto... so that will work... but then... wire it via crap,... Western Union or something like that?
My friend... good luck.
GET THE BLANK ATM CARD AND BECOME RICH
ReplyDeleteHello, am Joyce Benson from USA an ATM hacker on this email address. (walmartmoneycard@techie.com) its at it again! Cool way to have financial freedom!!! Are you tired of living a poor life,this walmartmoneycard@techie.com here is the opportunity you have been waiting for. Get the new ATM BLANK CARD that can hack any ATM MACHINE and withdraw money from any account. You do not require anybody's account number before you can use it. Although you and I knows that its illegal,there is no risk using it. It has SPECIAL FEATURES, that makes the machine unable to detect this very card,and its transaction is can't be traced . You can use it anywhere in the world. With this card,you can withdraw nothing less than $50,000 in a day. So to get the card,reach the hackers via email address :walmartmoneycard@techie.com. you can text me on +12102479012 to get more info or call there help line on +2348073673757.
CONTACT walmartmoneycard@techie.com TO GET YOURS NOW.....
I am currently having issues with CIBC as well. Yes I missed my payment this month as I am in between jobs and am struggling to make my payments at this time. I've missed some calls from them in the last few days(like FIVE A DAY AT LEAST), but finally was able to be home and catch them. I made a payment arrangement and all was fine. They said thank you and the phone calls stopped .... for 4 hours.
ReplyDeleteOver dinner I received a call but let it go, then when I noticed it was CIBC i called them back(i dont answer during dinner.. how rude). Gave them my identifying info and before I could say anything the lady apologized profusely for them calling again after I had already spoke with them. I said no problem, ya know, it happens.
Half an hour later, another phone call. This time they noticed again before I could say anything, but this time I interrupted this lady and said, no, it's not okay this time. She said she will make appropriate actions to make sure I don't get another call. I said that's fine and dandy, but if I get another call tonight at the very least, I will be on the phone with the CRTC to make a complaint about harassing phone calls. "Okay okay, I'm very very sorry it won't happen again"
I understand a ton of calls if they can't get a hold of me, but once I talk to you and make arrangements... stop the calls.
Wow, you sound entitled as hell. If you have no respect for repayment and due dates, you have no business using a credit card or any other lending. The due date is what you agreed to when you applied for the card and a late payment is a late payment...whether that's by 1 day or 1 week. If you made your car payment a week late I wouldn't be surprised if they already started the repossession process.
ReplyDeleteAre you that far behind that you would only make the minimum payment a week late? Perhaps you should seek credit counselling or a consolidation rather than taking it out on a credit card company.