r/CIBC

Hey, I've been with CIBC for over 10 years. Never had an issue with paying my bills on time and never had to deal with NSF fees.

Last year I lost my job because i was sick in the hospital for almost a month. During this month, I had one pre-authorized payment to come out the first saturday of every month, roughly $90. I didnt have the money and the payment kept being taken out, reversed and then hit with a NSF FEE of $45 every time (sometimes the pre-authorized payment was taken out 3 times throughout the day so the fee was up to $135). The NSF fee went up to almost $3000.

I called the bank the week i was out of the hospital, and I explained my situation to no avail. I understand the fees were my fault and i shouldve ensured i had the money in my bank the day the pre-authorized payment was to be made but I had no money, I was physically sick and mentally drain/withdrawn from my responsibilities that I basically ignored the problem until I was released from the hospital.

Cibc is refusing to compromise and expect me to pay the whole amount. My question is, is there anything I can do to help my situation, or am I going to have to pay the entire $3k in NSF fees to avoid being sent to collections? Any advice will be greatly appreciated.

TL;DR: got sick, lost my job, i had to be admitted into a hospital for over a month, accrued almost $3000 in NSF fees. What are my options?

Did my Ba in Economics at York, flunked out of my masters and now I'm 26 looking for a job. Landing anything in analyst at banking seems impossible because they pick business school kids first, and even they have hard times so I feel out of luck. My resume is kind of data analysty, I can do excel/r/python blah blah. Can someone please help me land a first job? I'm applying to underwriting and operations as well, but my goal is risk analyst.

So far she’s been given death threats by a guy who is currently on trial and the workplace is a hell hole. Does anyone else work at CIBC and if so is this relatable?

I’m looking for some objective opinions because I’m having trouble deciding.
I’ve been with TD for 11 years. I have my RDSP with TD Direct Investing, a TD Rewards Visa with a $9,000 limit, and I generally prefer TD’s overall banking experience.
Earlier this year I switched my day-to-day banking to CIBC because I qualify for the Smart Account with no monthly fee through the Disability Tax Credit. I also received a $600 sign-up bonus and was approved for a CIBC Dividend Visa with a $3,000 limit.
The problem is that I don’t enjoy banking with CIBC as much. I find TD’s service better, and when I checked my banking activity, I had 36 transactions last month. That means if I move back to TD, I’d probably need the Unlimited Chequing Account, which costs $17.95/month.
Would you pay $17.95/month for a bank you genuinely prefer, or would you stay with the free CIBC account just to avoid the monthly fee?
I’m interested in hearing how others think about paying for better banking service versus choosing the free option.

I’m looking for some objective opinions because I’m having trouble deciding.
I’ve been with TD for 11 years. I have my RDSP with TD Direct Investing, a TD Rewards Visa with a $9,000 limit, and I generally prefer TD’s overall banking experience.
Earlier this year I switched my day-to-day banking to CIBC because I qualify for the Smart Account with no monthly fee through the Disability Tax Credit. I also received a $600 sign-up bonus and was approved for a CIBC Dividend Visa with a $3,000 limit.
The problem is that I don’t enjoy banking with CIBC as much. I find TD’s service better, and when I checked my banking activity, I had 36 transactions last month. That means if I move back to TD, I’d probably need the Unlimited Chequing Account, which costs $17.95/month.
Would you pay $17.95/month for a bank you genuinely prefer, or would you stay with the free CIBC account just to avoid the monthly fee?
I’m interested in hearing how others think about paying for better banking service versus choosing the free option.

I got a call from CIBC Mastercard fraud dept., while driving to an appointment I was running late for.

They questioned a transaction that had occurred at 4am. Since I didn’t recognize it immediately, they cancelled the card and said they would send out a new one. I could get the new card in 4 days if they sent it to a branch, or 10 days if they mailed it to my address.

Thinking it would be fastest to have it sent to the branch in town, I asked it be sent there, and I would go and pick it up. That was 10 days ago. They verbally confirmed the address, including the town of the branch (which is 10 minutes from my home) when I spoke with them.

I have been calling MC and the branch to try to track it down, with no luck. Today, I finally asked them to verify where it was sent…only to be told that it was sent to Winnipeg. The only problem with this is that I live in southern Ontario. I have lived in the same town, in the same house for the last 16 years. I have also NEVER lived in Manitoba…and never would.

This financial institution has laid off a huge number of staff recently. It would seem they have laid off ANYONE with a brain!

The best thing I can say about this financial institution is that all other financial accounts I have are NOT with CIBC!

There is no excuse for this level of stupidity. NONE!

So now, there has been a credit card floating around god knows where, with a high limit, with my name on it.

To me, EVERY one of the people involved in this moronic process should be fired, including the “manager” I finally spoke with today, who didn’t seem to give a shit that this had occurred.

I demanded they courier the replacement card to me TOMORROW. The ‘manager’ is going to apparently email me an apology letter…then close the case.

If this is the ‘best and brightest’ staff they have kept, god help anyone dealing with this mess of a financial institution. Be very careful dealing with CIBC!

Just joined from another bank and trying to get a read on what analytics teams here actually do day to day.

In my LOB, the analytics team acts more like a request line than an actual analytics team. Most of their time goes into creating surface level files for other teams, from spreadsheets, MS Forms, and pulling data extracts to build “dashboards” or “reports” outside the systems that actually house the data. None of it is particularly analytical. They don’t have much understanding (if at all) about what they’re digging into or what the numbers actually mean.

Analytics teams at other companies are responsible for trend analysis, KRIs, data quality, thematic insights. Reporting is more of a byproduct than the job itself.

Are analytics teams like this across the bank, or just in my LOB? Might have to look into these roles if it’s the norm.

My mother and I have each had our own CIBC Investor's Edge accounts for over 10 years now.

Last month she mentioned that she looked into the settings of her account and found that an unknown name was listed as her Trading Authority / Power of Attorney and how she was dealing with CIBC to get this name removed.

I decided to look into my account and lo and behold, there was an unknown person listed as the beneficiary of my account.

Going through the process has been frustrating as you cannot simply just remove the name through the website, you need to:

1. Call CIBC
2. Wait an hour for someone to answer
3. Get them to send a link to a secure email account
4. Write out a letter of complaint
5. Print the letter
6. Sign the letter
7. Scan the letter
8. Upload and send the letter

Then wait over a week for each correspondence, in which they try to get you to respond by calling CIBC instead of emailing, and wait on hold for anyone to answer.

They originally mentioned they do not have the original paperwork to determine how this name was added and they don't keep paperwork from over 7 years ago... Then they happened to just find it and send it over to me.

In the provided scans, the beneficiary section in my original application form when opening the account had:

• My name pre-filled
• My account number pre-filled
• This random name pre-filled as the "Section 1: Designation of Successor Holder"
• My signature written in ink
• Witness signature written in ink

So of the 20 or so pages I had to sign, they must have rushed by or obscured this random person pre-filled into my form when I signed that page, as I would have never signed off on this person.

BUT, I was also provided with another form which is of much lesser quality (very pixelated) where they must have:

1. Re-printed the original scanned beneficiary form
2. Used white out to remove the typed in name from "Section 1: Designation of Successor Holder"
3. Used pen to re-add the same name to "Section II: Designation of Beneficiary" and listed this person as my "Girlfriend"
4. Scanned and submitted the altered form of less quality

Which leads me to conclude this is either a clerical error, or worse, an insider attempt at fraud.

The reason I am posting this is to warn others with Investor's edge accounts to check your own account as this seems to be more than a coincidence that the only people I know IRL with an Investor's Edge account have an unknown person attached to their account.

TLDR: Check the account settings of your Investor's Edge account! There may be someone you do not know that is associated with your account!

Hey everyone, I recently got an internal offer for a Senior Inbound Fraud Advisor role at a Big 5 bank, moving over from a frontline customer service position, and I’m looking for some honest reviews on what the day-to-day actually looks like. I have a background in finance and want to know if this role is strictly a back-to-back phone queue call center environment, or if seniors get genuine off-phone time to handle deeper case analysis. My ultimate goal is quick career progression into a functional, back-end fraud analyst or investigative role, so I’m wondering if a 6-to-8-month timeline for an internal transfer is realistic if I’m hitting all my metrics, or if the bank strictly enforces the standard 12-month policy. More importantly, since this inbound role usually falls under a TEER 4 classification, I need to plan ahead for my Express Entry PR journey. For anyone who has gone through the PR process in bank ops, how rigid is HR with the official job duties on the employment reference letter? Can a direct manager typically customize a supplementary reference letter on company letterhead to emphasize the analytical, regulatory, and investigative aspects of the daily work to align with a higher TEER category, or does everything have to strictly match a generic corporate template? Any insights on the department culture or handling the reference letter strategy would be incredibly appreciated!

I got and accepted an official offer this Monday and I haven’t get the Sterling email. Just curious how long it usually takes.

I’m 22 and currently in university studying Business Information Technology (Network & Security). It’s basically a Business Technology degree with a stronger focus on cybersecurity. I’ve also debated on doing a double major in accounting, but we’ll let the future see.

The problem is that I have very little work experience. I’ve tried to make up for it by volunteering as much as I can, networking on LinkedIn, and even reaching out to branch managers directly. Despite that, I haven’t had much luck getting interviews or offers.

My current goal is to get hired as a bank teller, I’d eventually like to move into fraud investigations, fraud prevention, or financial crime within a bank. I know teller positions are competitive, but I thought it would be a good way to get my foot in the door.

I’m wondering if there are any certifications or other things I can do to make myself a stronger candidate while I’m still in school.

I’ve been looking into the CSC and IFC. They both seem interesting, but I’m not sure whether they’d actually help me land a teller position or if they’d be a waste of time and money at this stage.

If you were in my position, what would you focus on? Are there any certifications that would genuinely help? Is there something else I can do to compensate for my lack of work experience? Has anyone here gotten into banking without a strong employment history?

Hey everyone,

I have concrete evidence that a private citizen committed mortgage fraud to secure a conventional loan (20% down payment) with CIBC a few years ago. The individual explicitly told me face-to-face that they completely falsified their income to qualify for the house.

Based on the federal stress-test math from that time period, they needed a verified six-figure income to get approved. Since they recently completed a straight term renewal, the fraud has carried over because banks don't automatically re-verify income on standard renewals. Because it’s a conventional loan, CIBC carries 100% of the risk.

I want to report this, but CIBC’s public fraud lines seem to just be for phishing scams/stolen credit cards and their Whistleblower portal explicitly states it is only for reporting internal employees/wrongdoing by CIBC staff.

Does anyone know the direct pipeline, department email or corporate security fax number to get a forensic audit tip package directly into the hands of CIBC Corporate Security / Financial Crimes Investigations?

I want to make sure this actually lands on an investigator's desk and doesn't just get filtered out by frontline customer service.
Thanks.

Hello!
I have been approved for a personal line of credit for 25,000$ at 11.5%, Since my credit Score is not that great but it is in a decent position.

Is this a normal rate or is there any way I could reduce it? I mean this was rate got approved! Do you think, they still will be able to reduce it?

I want to throw up at all of the timings of these things.

Employee survey comes out

Same morning they release Tuesday afternoon meeting free

Week later?

CIBC Way and layoffs start

Survey results announced

Of course leadership couldn't be happier with the results, especially how we believe CIBC is trending for a positive future and that we believe our leadership has our best interest in mind.

Gross.

I'm just wondering how much severance I can expect. I'm 55 with 30 years of service. I was grandfathered into a DB pension and I'm eligible for full pension at 61.

Is it common that they would give service credits so that even if I am laid off, I could still get my full pension as if I retire at 61?

Hundreds of CIBC FTEs had their jobs eliminated. They were offered redeployment opportunities, but from what I’ve seen and heard, very few have landed another role.
Walking through CIBC Square today felt terrible. It was almost silent. Digital, Personal Banking, and Business Banking were hit hard. It honestly felt like walking through a building after an evacuation.
What’s even harder to process is imagining how it all came together. Somewhere, a group of leaders sat around a table, reviewing lists of names, discussing roles, debating who stays and who goes. Decisions were made in that room that would ripple out to hundreds of lives, careers, and families. It’s unsettling to think about how clinical that process must have been compared to the human impact we’re seeing now.

Many of the people who lost their jobs weren’t low performers. They were some of the people who consistently went above and beyond. That’s what has everyone rattled.

Management is calling this “job elimination,” offering severance packages, but everyone knows what happened.
The mood inside the bank is terrible. People aren’t focused on work anymore. They’re updating resumes, networking, interviewing, or simply waiting for the next round.

I honestly don’t understand the end game. PMs
are gone. Other experienced roles are gone. Institutional knowledge is walking out the door. Who’s going to do the work? The same amount of work doesn’t disappear just because the people do.
Leadership may have achieved a headcount target, but rebuilding trust will be much harder. Right now, morale feels like it’s at an all-time low.

My friend uses CIBC and scheduled an Interac e-Transfer yesterday for July 1 because they had reached their daily e-Transfer limit. They showed me the confirmation that it was successfully scheduled.

I have Autodeposit enabled, but it's already the morning of July 1 and I still haven't received the money.

Is this normal? Do scheduled Interac e-Transfers get sent throughout the day, or should they have been sent at midnight? Has anyone experienced this with CIBC, especially on Canada Day?

Thanks in advance!

Heard rumblings of a few thousand layoffs coming in next few days, mostly in corporate office.

Sad to see this not stopping despite record earnings!