• Report: #270870

Complaint Review: Canadian Imperial Bank Of Commerce

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  • Submitted: Tue, August 28, 2007
  • Updated: Sun, September 07, 2008

  • Reported By:Toronto Ontario
Canadian Imperial Bank Of Commerce
368 Queen St West Toronto, Ontario Canada
  • Phone:
  • Web:
  • Category: Banks

Canadian Imperial Bank Of Commerce, CIBC CIBC letting my funds dissapear, 8 days later nothing has been done. Ripoff Toronto Ontario Canada

*UPDATE Employee: I stand behind CIBC 100%

*UPDATE Employee: I stand behind CIBC 100%

*UPDATE Employee: I stand behind CIBC 100%

*Author of original report: clarify

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8 days ago, I went into the CIBC at the corner of Queen / Spadina to deposit a couple of cheques from work. My ATM card has been used for years, so I thought first I would aquire a new one. I did. I was then told that there was a message on my account saying that the account had been compromised. At that point the woman pulled up my account information, and asked me to confirm each of the transactions that had gone through on my account. Everything looked fine.

I entered a new pin number, and went over to the ATM to deposite my cheques. (They totalled roughly $1400, there was a balance of roughly 450 in the account plus my overdraft). The whole reason for me to deposit the money into this account, as well, was because I needed to write cheques for my rent deposit as I have to move very shortly (at this point, it is only a few days from the 1st of September!).

A few hours later, I went onto my online banking, and realized that a withdrawal (which was not done by me!) had just gone through for a total of $800 at Keele and Wilson!. I do not live anywhere near there, nor have I ever even been to this branch before. In the morning, I immediately went into the CIBC to inform them of what happened. They started their little investigation (which to this point has produced nothing, nor has anything even started to happen). After requesting the account to be frozen, I left, hoping that things would start to happen.

That afternoon (August 21st), I looked at my online banking again, and saw that a sum of $1082.00 had been deposited in my account. It had a cheque number that matched nothing that I have deposited. It then was withdrawn as well, immediately by a cheque that was cashed. (or this was a bank reversal, however the $1082 was withdrawn an additional time later) I printed this off and went into my bank again. At this point, I had a balance of $260 in my account with $0 available funds. After this, nothing continued to be done about my situation.

Right now, I still have $260 in my account and $100 overdraft still, totally $360 available funds. I should have alot more then this. The numbers in my online banking do not add up, despite them saying they reversed that cheque deposited, i am still missing the $1082.00 that WAS IN MY ACCOUNT when I deposited my money. In total I am down roughly 1800$, which I need immediately to be able to move.

In the 8 days that have passed since the initial incident, they have failed to produce the affidavit for me to sign. I know for a fact that it takes a matter of minutes to aquire this from the courts.

As it looks right now, as well, the initial reversal of the cheque (which had shown up before right after it was deposited) is now gone from my bank statement as well. I had printed off my bank statement showing it previously, and gave it to my bank to show them what I meant. Since then, the numbers are even more wrong.

The manner in which CIBC is handling this situation is attrocious. I have no money, I need to move. I am 22 years old and have a small income as it is. I relied dearly upon this sum in order to have a new apartment by (now) September 15th, as moving by the 1st is now impossible. They are making this very difficult for me, and I have been sick with stress not knowing what is happening, with them essentially putting my life on the line, not knowing where I am to live without the funds available.

They informed me it would take 3 - 5 weeks for anything to happen.

I also, have not touched the account since this incident occurred.

Please help!

Hector
Toronto, Ontario
Canada

Click here to read other Rip Off Reports on CCA aka First National Credit

CLICK HERE to read about Credit Card Scams... find out how to get your money back. Consumer makes harsh but accurate statements. *Rip-off Report Investigation follow-up provides valuable information.

This report was posted on Ripoff Report on 08/28/2007 02:42 PM and is a permanent record located here: http://www.ripoffreport.com/r/Canadian-Imperial-Bank-Of-Commerce/Toronto-Ontario/Canadian-Imperial-Bank-Of-Commerce-CIBC-CIBC-letting-my-funds-dissapear-8-days-later-not-270870. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
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Updates & Rebuttals

#1 UPDATE Employee

I stand behind CIBC 100%

AUTHOR: Anonymous - (Canada)

I work with CIBC, I'm an assistant branch manager, I have been working with this comany for 5 years now. bank card fraud does happen to many people everyday no matter what FI(CIBC, TD, RBC, BMO, or Scotia) your accounts are with. I know CIBC has a very strong policy on this matter. I'm guessing it was the employee that you delt with that the branch that just didn't know what she was doing...maybe she was new. regardless.... you are the client and you are unhappy...so I would advise you to call our Customer Care Centre. Call 1-800-465-CIBC (2422) have them transfer you to the Customer Care Centre, that team of employees work for the clients of CIBC...They will be able to escalate this matter for you.

Please remember....

1. Always cover your pin when your entering it.
2. Change your pin # at least once every 6 months
3. CIBC employees DO NOT need to know your pin, so if you get a call from someone telling you they are with CIBC asking you for that pin #....hang up and give no information.
4. Always check the ATM unit in detail before entering your card for any fraud units.
5. also be careful at gas stations they are the ones doing most of this fraud.

I'm very sorry to hear what happend to you, and I hope our team of customer care employees can help you to resolve this matter.

An employee of CIBC
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#2 UPDATE Employee

I stand behind CIBC 100%

AUTHOR: Anonymous - (Canada)

I work with CIBC, I'm an assistant branch manager, I have been working with this comany for 5 years now. bank card fraud does happen to many people everyday no matter what FI(CIBC, TD, RBC, BMO, or Scotia) your accounts are with. I know CIBC has a very strong policy on this matter. I'm guessing it was the employee that you delt with that the branch that just didn't know what she was doing...maybe she was new. regardless.... you are the client and you are unhappy...so I would advise you to call our Customer Care Centre. Call 1-800-465-CIBC (2422) have them transfer you to the Customer Care Centre, that team of employees work for the clients of CIBC...They will be able to escalate this matter for you.

Please remember....

1. Always cover your pin when your entering it.
2. Change your pin # at least once every 6 months
3. CIBC employees DO NOT need to know your pin, so if you get a call from someone telling you they are with CIBC asking you for that pin #....hang up and give no information.
4. Always check the ATM unit in detail before entering your card for any fraud units.
5. also be careful at gas stations they are the ones doing most of this fraud.

I'm very sorry to hear what happend to you, and I hope our team of customer care employees can help you to resolve this matter.

An employee of CIBC
Respond to this report!
What's this?

#3 UPDATE Employee

I stand behind CIBC 100%

AUTHOR: Anonymous - (Canada)

I work with CIBC, I'm an assistant branch manager, I have been working with this comany for 5 years now. bank card fraud does happen to many people everyday no matter what FI(CIBC, TD, RBC, BMO, or Scotia) your accounts are with. I know CIBC has a very strong policy on this matter. I'm guessing it was the employee that you delt with that the branch that just didn't know what she was doing...maybe she was new. regardless.... you are the client and you are unhappy...so I would advise you to call our Customer Care Centre. Call 1-800-465-CIBC (2422) have them transfer you to the Customer Care Centre, that team of employees work for the clients of CIBC...They will be able to escalate this matter for you.

Please remember....

1. Always cover your pin when your entering it.
2. Change your pin # at least once every 6 months
3. CIBC employees DO NOT need to know your pin, so if you get a call from someone telling you they are with CIBC asking you for that pin #....hang up and give no information.
4. Always check the ATM unit in detail before entering your card for any fraud units.
5. also be careful at gas stations they are the ones doing most of this fraud.

I'm very sorry to hear what happend to you, and I hope our team of customer care employees can help you to resolve this matter.

An employee of CIBC
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#4 Author of original report

clarify

AUTHOR: Hector - (Canada)

To clarify:

On the 20th

Deposit of $1082.00 occurred.
Withdrawl of $800 CASH occurred. Both at Keele and Wilson ATM 4E0B

On the 21st, the deposit of $1082.00 reversed.
The amount of $800 CASH is still unknown.

The bank records appear to be corrupt at this point

balance of 260 + the 800$ taken out, despite the reversal of the cheque for $1082, still does not add up to the amount I am supposed to have in the account. It is screwed up big time.
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