ComplaintsforCIBC Bank USA

• Initial Complaint

  09/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Hi,I recently acquired my new CIBC ****** Credit Card for what I am so happy but they run my credit twice and my score is down 30 points which triples a regular hard credit check.Can you please help me out by correcting this since it was really hard to get my score at that level and it's so frustrating to have it down for one simple application. This application took place last August 2024 at *************, ********, **. Canada.Looking forward to hearing from you. Thank you,***** ********.

  Business response

  11/07/2024

  The complaint was directed at CIBC Bank USA. We determined the client was not ours but was instead with our Canadian parent. That group worked with the client and corrected the credit reporting as requested. We consider this complaint closed and in the clients favor.
  
  If we need to do anything else, please advise. Thank you.

  Customer response

  11/07/2024

   
  Complaint: 22329950
  
  I am rejecting this response because:

  No further actions were taken on my credit score, only standard customer service calls apologizing for the inconveniences caused. Furthermore, my credit score has drastically dropped again. You guys are really affecting my credit history and I need a solution ASAP. 

  
  Sincerely,
  
  ***** ********

• Initial Complaint

  09/04/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I presently have a **** US *************** account presently. I attempted to open a CIBC US Agility **. Before applying, I unfroze ChexSystems then I applied. My application was reviewed and approved. Two days later, **** put two deposits in my transfer account. When these were received, I went to the verification website, entered the code, and the amounts of the two deposits. A confirmation screen appeared with my account number, the ** interest rate, the ** APY, the Maturity term, Interest payment method, Interest payment frequency, and Deposit amount. A note at the bottom confirmed the deposit will be withdrawn from my bank account and placed into my **** account within two days. I received an email which included:From: <*********************************>Date: Wed, Sep 4, 2024 at 6:39AM Subject: Confirmation: Your new CIBC Agility 12 Month ** Account Dear XXXX,Thank you for verifying the test transactions for your new CIBC Agility 12 Month ** account. Your account will be funded within the next two (2) business days and will then start earning interest. If you would you like to view your new account, please visit ************************************ you for choosing CIBC Bank USA. We appreciate your business.******************** Team Member FDIC ====Approximately 8 hours after receiving confirmation and the email above, I got a phone call from **** asking me to call them. After 12 minutes on hold, a Digital Support representative named ***** verified my identity then asked the Agility team about the status of my application. They advised, it has been cancelled and I needed to reapply. No explanation was given. I asked for a supervisor. They put me on hold and returned to say none were available. I left a message for a supervisor to call me back.This ** was requested, verified, credit checked, two deposits transferred, two deposits confirmed, funding available, and fully approved by ****. Then the application was cancelled without explanation.

  Business response

  09/18/2024

  
  
  September *******  
  ***** ********
  *************
   ***********************
  
  
  Re: BBB Complaint ID ********
  
  Dear ***** ********,
  
  I am writing on behalf of CIBC Bank USA (Bankor us), which received your complaint filed with the Better Business Bureau on September ******. In your complaint you expressed concerns regarding  a servicing issue with opening a **** Agility account. We regret to hear about the difficulties you experienced.
  Upon thorough investigation, we identified a glitch in our system that unfortunately interfered with the uploading of your application. This issue prevented the process from moving forward to funding. I sincerely apologize for any inconvenience this may have caused. Ensuring a seamless experience for our customers is our top priority.
  With the assistance provided by our team member, your CD is now open and funded. We believe this action resolved your issue. We are delighted to have reached a satisfactory conclusion.
  Thank you for your patience and understanding throughout this process. We truly value your trust and confidence in us.
  Please do not hesitate to reach out directly to me with any further concerns, questions, or feedback you might have at **************.
  
  Sincerely,
  /s/ ******* *****
  Managing Director, Fair and Responsible Banking

• Initial Complaint

  01/30/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am writing to let you know that I recently had a wired amount came into my account which I have been trying to spend back to the owner of the money but my account has be restricted and I have all the bank several times for them to send the money back. I will like you guys to contact the bank on my behalf so they can give me access to the account or send the money back to the original owner as soon as possible.

  Business response

  02/08/2024

  February 8, ****
  ***************************
  ***********************************
  ******, ** 20706
  Re: BBB Complaint ID: ********
  Dear ****************,
  I am writing on behalf of CIBC Bank USA (Bank or **), which received your complaint filed with the Better Business Bureau on January 30, ****. In your complaint you expressed dissatisfaction regarding the receipt of an unknown wire transfer into your deposit account.
  We regret to hear you are having difficulties with your banking needs; however, our research indicates you are not a customer of **********************. From January 30 through February 2, ****, we conducted various searches within our databases using your name, phone number, and address provided with your complaint and were unable to locate a customer record. For additional due diligence, we reached out to our parent bank, ********************** of ******** and requested a search of their records, also without result. As such, we cannot identify a deposit account, including any wire transfer, in your name. Please direct your concerns and inquiries to your bank, as they will be in the best position to offer assistance.
  We apologize for your disappointment and we appreciate you taking the time to make us aware of your concerns. If you have additional questions, can provide additional identifying information, or would like further assistance, please contact me at **************.
  Sincerely,
  /s/ *************************
  Managing Director, Fair and Responsible Banking

• Initial Complaint

  01/25/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  On Jan 5th I applied for a 1 yr CD at CIBC Bank. ************** was designated to be the funding bank in the amount of $208,815.63. The funding was marked as received on 1/9/2024. My new account was then marked as closed on 1/12/2024! I was not informred by CIBC Bank when the account was marked as closed! I talked to two people representing CIBC on approximately Jan 18th after being on hold for nearly 2 hours! Neither one of the bank representatives were able to answer my questions and concerns. I was promised a phone call from a supervisor who never called.I received an email from the online support team indicating I had nothing to worry about because my account was funded on 1/9/2024 and was maturing on 1/9/2024. This was not the case at all. I was worried where my money was really located. Perhaps the two banks worked out a deal but there was no way I could find out. I assume I lost some interest during all of this.

  Business response

  02/08/2024

  February 8, ****
  *************************
  245 *********
  ******, ** 34285
  Re: BBB Complaint ID ********
  Dear **************,
  I am writing on behalf of CIBC BANK USA (Bank, we or **), which received your complaint filed with the Better Business Bureau on January 25, ****.
  Our records indicate you applied for two Agility Certificates of Deposit (CD) on January 5, ****. Each CD was to be funded from different accounts originating from *************** The CD for $50,000 was successfully funded and is operating as expected. ************** declined funding in the amount of $208,814.80 for the other CD; therefore, funds were never received by us. As a result, the CD was closed. If you have further questions regarding the declination, please refer to **************, as they will be in the best position to offer insight.
  We apologize for the difficulties you experienced regarding your CDs and the call wait times. We have experienced higher than normal call volumes contributing to extended hold times.
  We appreciate you taking the time to bring your concerns to our attention. If you have any further questions or require additional assistance, please contact me at **************.
  Sincerely,
  /s/ *************************
  Managing Director, Fair and Responsible Banking

• Initial Complaint

  01/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  CIBC USA keeps on charging me paper statement fee even though switch to online statement only back in Oct I want issue to resolve. I have call customer service multiple times

  Business response

  01/23/2024

  January 23, ****
  *****************************
  *************************************
  **********, ** V2T 3B1 ******
  Re: BBB Complaint ID ********
  Dear ****************,
  I am writing on behalf of CIBC BANK USA (Bank, we or us), which received your complaint filed with the Better Business Bureau on January 9, ****. We apologize for any difficulties you experienced regarding your banking needs.
  Our records indicate that as of January 9, ****, your account is set to receive electronic statements and will no longer be charged the fee for a paper statement. However, upon reviewing the call log from your previous interactions with our customer service team, we acknowledge your prior attempts to set your statement preference to electronic. We are actively investigating the issue but currently are unable to identify why your requests for electronic statements was unsuccessful.
  To address the inconvenience you experienced, a credit in the amount of $4.50 was provided on January 18, ****. This credit, in addition to the $2.25 credit provided on December 6, 2023, covers all paper statement fees assessed since October 2023.
  We appreciate you taking the time to bring your concerns to our attention. If you have any further questions or require additional assistance, please contact me at **************.
  Sincerely,
  /s/ *************************
  Managing Director, Fair and Responsible Banking

• Initial Complaint

  05/09/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I opened a savings account with CIBC. I accidentally made two $2495 transfers as when the account was open, the balance was 0 with no indication of the original transfer. I am trying to get one of the $2495 transfers back, but unfortunately the bank has MY money on hold and will not return my money. I am now trying to close my account and find a bank that is more user friendly, however was told I cannot close my account because my money is still on hold. I would like this company to take the hold off my account and return my two transfers of $2495.

  Business response

  05/15/2023

  Response attached

• Initial Complaint

  03/13/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Had an account with **** USA for many years. About 2 years ago, I requested an address change from my ******** address to a ** address so that my card can work at gas stations as they require a zip code and ******** addresses don't work at them. When I called on the phone, the customer service representative had an attitude problem at the time and agreed to change my 'mailing address' but not my 'physical address'.Fast forward, 2 years later, I moved out of my ******** address and was proceeding to change my address across my ******** bank accounts, Revenue ****** and driver's license to a new ********* address. Everybody accepted the address except **** USA. When I did a new message on the online platform, the same representative from 2 years ago decided to use ****** to look up the new ********* address and not allow me to make the address change without providing frivious documents like a 'lease' even though I attached a telephone bill already. Knowing that the representative was just making up the rules when it comes to required documents to change addresses, I proceeded to close the bank account and then later on asked **** Canada to ask the **** USA side to open a new bank account with my correct new ********* address as **** Canada had no issues with my ********* address Fast forward 2-3 months, everything is now setup. New bank account, new debit cards but I can't help but get upset about the representative who had made up her own rules. The fact is, I do not have a physical address and I clearly do not live in ******** anymore so her refusal to change my address as requested and proof was provided is very unacceptable and I thought I would make a complaint about this.I am asking **** USA to have a chat with the representative in question and be sensitive to individuals who may not have a physical address for personal reasons instead of acting disciminatory.

  Business response

  03/23/2023

  Response attached

  Customer response

  03/24/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ********************

• Initial Complaint

  07/15/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On May 31, 2022 I telephoned CIBC Bank (Pershing Branch) to inquire about opening a basic business account for my startup business. After inquiring about fees, I was given an offer of fees waived for the first six months because I was just getting started. I was guaranteed receipt of my business debit card within 5 - 7 business days, however, because of their internal issues, of which I was not informed - and blatantly being lied to by the manager ******************************* and 2 separate client support specialists, I actually did not receive my card until 40 days after opening the account which severely negatively impacted my ability to conduct transactions. Then to add insult to injury, I received my first bank statement and they lied again. The bank charged me the $10 service fee that I was assured would be waived for six months. When I reached out to the bank today, I spent 30 minutes on and off hold attempting to resolve this problem, to no avail - so now I am contacting your office to file this complaint.

  Business response

  07/25/2022

  Response attached.

  Customer response

  08/01/2022

   
  Complaint: 17574766
  
  I am rejecting this response because: 1) AT NO TIME did the bank EVER contact me regarding the delay of my debit card. All efforts to resolve the issue were initiated by me which was extremely frustrating.

                                                              2) The expedited card **************** supposedly ordered for delivery was guaranteed to arrive by Saturday, June 25th, not Monday the 27th - this was the FOURTH promise made by the bank.  

                                                              3) If the decision was made on June 27th to close my account, why wasn't my cashiers check sent WITH the letter, why hold on to MY MONEY for an extra 18 days, what allows them to hold my money?

                                                              4) Why didn't customer service inform me on the numerous calls I placed to them AFTER June 27th, that my account had been closed by the branch?

                                                              5) **************** is a liar. If my account was closed on June 27th, why did CIBC wait until July 26th to mail the letter informing me?

  
  

  This is obviously an attempt by the bank's branch manager to cover up and defraud the BBB about the unfortunate, unprofessional and fraudulent practices their branch is engaged in. I do not accept their response and I have all documentation received from the bank as proof of their attempts to deceive and obfuscate the facts. I have attached the letter - dated June 27, 2022 and the date on the envelope showing when the letter was actually written and mailed - July 26, 2022. 

  Instead of apologizing and taking accountability for their incompetence and deception, they have decided to engage in more lies, shame on them.... 
  
  Sincerely,
  
  *****************************

  Business response

  08/11/2022

  Response attached

  Customer response

  08/23/2022

   
  Complaint: 17574766
  
  I am rejecting this response because:
  
  These people are liars or delusional or both. AT NO TIME DID THE **** CONTACT ME REGARDING THE ***** OF MY DEBIT CARD. 

  I would like recordings of the 12 calls placed to me by CIBC bank!

  
  Sincerely,
  
  *****************************

• Initial Complaint

  06/06/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  This complaint about them saying they did not receive a payment from me which they clearly did. And, this needs to be corrected, as soon, as possible. And, they can not wait until I get a job, and get my checks which I have not received yet.

  Business response

  06/10/2022

  Response attached

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩