Review Time
Never apply for refinancing with CIBC bank,
I am extremely disappointed with my recent experience regarding the refinancing of my personal loan at Canadian Imperial Bank of Commerce (CIBC).
Due to an error made by a CIBC staff member during the refinancing process, my loan amount was incorrectly increased. As a result, my scheduled monthly payment — which is set up for automatic withdrawal from my bank account — was affected, and I missed a payment. This issue was not caused by me, but by the way my refinancing request was handled.
For the past three days, I have been contacting the Loan Department and Customer Support to resolve this matter and have my loan restored to the correct amount. Unfortunately, no one has been able to provide a clear solution. My calls have been repeatedly transferred from one department to another without resolution, and on several occasions, the calls were disconnected while I was still seeking assistance.
I was also repeatedly told that a supervisor would call me back, but I have not received any callback. This lack of follow-through has been extremely frustrating and unprofessional.
The overall telephone banking experience has been very disappointing. I expected better service, especially when dealing with serious financial matters that directly impact my credit and personal finances.
I hope this matter is addressed urgently and resolved properly.
Abdul Rauf
I had a line of credit with CIBC, for about 20-30k and had an outstanding balance of about 3k$. CIBC reduced my limit to 4k. I told CIBC customer service, I will pay you the balance and close my card, you guys are ridiculous! You reduce my limit just like that! I can take my business elsewhere. AVOID CIBC, lots of other banks out there that will pay you to use their cards not like CIBC reduce your limit overnight for no apparent reasons! BS.
Letters including the below have been sent to:
Executive Vice-President Amy, Office of the CEO and Chief of Staff at CIBC.
Senior Executive Vice-President and Chief Administrative Officer Christine
Vice President Chris, Client Complaint, Management & Appeals
RE: Serious client service mistakes closing account, poor investigation by senior manager in Client Complaints including lying about location of paperwork; lack of diligence from senior management in Head Office to address. This is where I am now. Beware!
There was a letter to the Toronto Star Editor in which new CIBC CEO Culham was also mentioned and sent to the above in mid-January 2026. This case has been going on for over a year - there has only been silence from head office since then. In January of 2026, CIBC did offer coverage to protect my account which was reasonable but the settlement offer was not so I declined. This is what happened:
Briefly I closed down my mother's account after she passed away. The account remained open for months leaving me exposed because my account was linked to hers. I told the bank branch and manager about this repeatedly and also found the line of credit on her account was still in use! I could transfer money back and forth from her line of credit in her account to mine! The Bank branch manager called me in July of 2025 after I threatened to go to the media and told me that as far as they were concerned they never had a record of me going into the bank to close down my mothers accounts eight months before! They made me feel like I was really the one who was in the wrong and acted like I was lying. I continued to get emails for my mother as well.
The thing is when I closed the account in 2024, the teller who did it took all my details including passport and credit cards, gave it to someone at the branch who went to photocopy it and brought me back the originals. The bank manager said she could not identify the people who were there that day. There was no copy.
It was only when I took money from her line of credit account in 2025 which should have been closed and put it in my account that I finally got action regarding a monthly payment. I told the cibc agent calling to ask for my mother what happened and why I did this to show how dangerous this was for me to not have closed my mother's account. Who would pay if someone took $10,000 from her line of credit?
I was then escalated to a customer care rep who was very understanding and also said that they could not find the actual paperwork to show that I had closed it down so they asked for it. I emailed the paperwork to the agent who put it in the file. I had been told by the bank manager and the community manager who I was escalated to that the teller was no longer with the CIBC and they could not confirm what happened to the paperwork.
The senior community manager who was excellent at investigating the trail could also not tell me exactly where the paperwork ended up after a very thorough investigation. Now it goes to senior investigations and I get this person who says they need three weeks after all the information provided, to investigate as well. I recorded the conversation with the senior managers so I know exactly what happened. The offer from CIBC this January, I think is far below (way under $1000) what I deserve for what happened to me and what I went through for months. This time spent was bad enough but worse was the fact that the senior investigations officer lied. Here's what happened: The Senior Investigations Manager comes back and tells me that "Oh, guess what? We found the closed transaction at the bank attached to another file in a credenza at the back". This is more than a year after it had gone missing! Remember, I had given the paperwork to the Customer Care Rep early on and that is how he had it. The paperwork is supposed to be shredded after a short time when it is entered into the system. This is a blatant lie and CIBC stands behind this what I believe is fraudulent. CIBC even at the highest levels refuses to acknowledge the blatant criminal lie regarding where the paperwork ended. Also be warned --There is another group that they say is there to submit a case through CIBC but it turns out the additional investigations whistleblower group Clearview Connects is run by the VP of Client Complaint Management. After 1 hour of giving my case to someone who had language issues, Clearview came back very quickly and said that my case was rejected. No surprise there.
This is not a case for the OBSI, this is for Senior Management and the Office of the CEO to settle in-house. I know others who have gone through similar things with CIBC but mine was the worst. My mother had a great manager at CIBC at Eglinton and Glenarden. Those days are gone.
I had an appointment with Jordan Sawatzky at CIBC and I am extremely grateful for his help. As someone who is not very familiar with the banking system and whose first language is not English, I really appreciated how professional, patient, and clear he was in explaining everything.
Jordan handled my request quickly and efficiently, making the whole process so easy and stress-free. He is friendly, knowledgeable, and truly professional. CIBC is very lucky to have him on their team! I highly recommend Jordan to anyone who needs assistance.
The experience with this card and customer service has been utterly frustrating! I attempted to cancel the card but was on hold for 2.5 hours without any resolution. Visiting the bank was equally unhelpful, as they couldn't cancel it for me, even over the phone. This has been the worst banking experience I've ever had! I strongly advise seeking credit cards from other providers. If I could rate it lower than 1 star, I would!
I've been attempting to reach the company's credit card support line without success. Each time, I'm put on hold for over an hour, only to be disconnected repeatedly! I've spent more than 4 hours trying to make a simple call. I hold one of their premium cards, which makes this situation even more disappointing. It's no surprise that various forums are filled with complaints about the service. Thankfully, I have another bank for my daily transactions. If you're considering switching to this company for any service, I strongly recommend you reconsider.
I reached out to dispute a charge on my card and had to wait an excessively long time, only to be advised to contact the merchant myself. Additionally, I requested a waiver for a purchase interest, and initially, the representative offered a 50% waiver but then retracted it. What is going on with your customer service? I'm thinking about switching to a different bank.
I have a car loan with this company, and it will be my last. This has been the worst experience of my life. Their professionalism is lacking, and the information provided over the phone is identical to what is said in person. They made several mistakes and expected me to resolve them, but I wisely chose not to. I cannot recommend this bank to anyone.
Having been a client for 55 years and a former employee, I feel I know the organization quite well. This year marked the start of my payments from my retirement funds, and the experience has been incredibly disappointing. Last December, I converted my retirement savings and executed documents to unlock certain funds and transfer part of their value. Unfortunately, this process was not completed until February. As a result, my annual minimum payments were affected without my knowledge, leading me to withdraw too much from one product and insufficiently from others. The organization insists I must withdraw more to meet regulatory requirements, which I do not wish to do. The issue remains unresolved after a month. A straightforward solution would be to backdate the unlocking process to align with my original intentions, yet they seem unable to grasp this. Attempts to address this through their brokerage service were unsuccessful. I reached out to the executive overseeing the relevant department, who escalated the matter, but it remains unresolved. I even contacted the new CEO, who redirected the issue to the same department, yet there has been no progress. It appears that the individual handling this does not understand the situation, fails to respond promptly to emails, and lacks the authority to resolve the issue. My efforts to escalate this matter seem to go unnoticed. Lastly, there seems to be a lack of accountability at the organization; when problems arise, no one takes ownership, and problem-solving skills seem weak.
Having been a client for 55 years and a former employee, I thought I understood the organization well. However, this year, as I began taking payments from my RIF and LIF, the experience has been shockingly negative. I converted RSPs to RIFs and LIFs in December and attempted to unlock the LIFs to transfer half their value to my RIF. Unfortunately, this was only completed in February, leading to unintended consequences for my annual payments. The organization insists I must withdraw more to meet requirements, but I do not wish to do so. This issue has remained unresolved for a month. A simple solution would be to backdate the unlocking process, but they seem unable to grasp this. Attempts to resolve it through their brokerage services were futile, and my communications with upper management have yielded no results. There seems to be a lack of urgency or understanding from the representatives. Ultimately, it feels like no one takes ownership of client issues.
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