CIBCsucks.com™: where you get to screw the banks, for a change

I am curious to find if there is anyone else out there that is having trouble obtaining

Their stock certificates from CIBC who is handling them for Sun Life Financial.

I was told that all I had to do was write a letter and sign it to receive my

Here is the kicker.. I never received my certificate and they want to charge me the

Low rate of $100 to buy insurance on the certificate (that was never sent) in case

This all started when Sun life Financial moved their life insurance premiums (cash in value)

Into stocks. I asked about the cash in value and of course they said that they sent a certificate. After many times telling them we never received the certificate they some how
endorsed themselves with some divine power of knowing that it was sent and arrived.

Could it be that many of these insurance premiums or stock certificates were not sent in order to Preserve the value of the stock? Of course all of them would be worried about

Why is a $100 charge being added when they mentioned they would send it on a signature?

Just wanted to make a statement that it is not only consumers that

get screwed by the CIBC... there has been many staff members that

are also treated unfairly as well. So you can imagine the stress level

and what actually happens when they want to get rid of an employee...

I know that they are mistreated and many are afraid to come forward

and have no way of expressing what happened because they may be

fired in the process... but CIBC has caused me alot of grief after working

for them for 11 years, I am so glad that there really is "Life After the Bank!".

I ended up leaving but not until I hired a lawyer to negotiate a package which

was appopriate for rhe length of service I had. Some managers think they can

do whatever they want to screw with people's lives. I liked to see them in my

shoes ,so that they know what affect it had on my life than and afterwards..So,

no regrets that I am no longer with the Big Bank... Actually, I landed a better job

and it was night and day as to the way I was treated... so screw you, CIBC. I think

that someone should write a book about how the Big Banks screw their staff and

customers...and then maybe there will be some major changes to their systems...

in the meantime, look for another bank to deal with your financial affairs.

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After being pursued by phone for a few months, I
decided to take up CIBC on
their new Guaranteed Proof long distance plan. The deal
was that they take
the best offering from Sprint, Primus and your local
carrier, and then
reduce it by 10%. Sounds like a good deal, doesn't it?
The impression is
that you'll do better (by 10%) than the best plan every
month.

What they actually do is to choose the three plans that
they want to
compare. We had a mixture of 17 calls to Canada and the
US, days and
evenings. The three plans that they used for comparison
were $49.50, $49.15
and $57.63, but I calculated the best Sprint and Primus
plans to be $24.03
and $19.65 respectively. Even after the 10% 'savings',
we were still billed
over twice what we'd be paying Primus.

The plans that they are using may in fact be the best
ones for some people.
I would think though, that we are an average household
and that this
experience would be similar for most people. I doubt
that anyone would be
happy to be paying twice what they could, but many of
those people will be
fooled into thinking that they are actually getting the
best plan and not
check.

The one thing that I was happy with was that it was
easy to cancel the
service!

Brad Crittenden

I simply called to ask what my bank account number was
so I could get $500
transfered from my best friend in Japan. Just my bank
account number. They
started asking me personal questions: my name, parents
names everything was
correct. They asked me my current address I answered
correct, the previous one
before that once again I answered correct, the one
before that once again I
answered correct. Finally they asked me my 4rth last
address which I lived on
over 5 years ago I answered that incorrect so RONNIE
HELPARD(supervisor,
telephone banking) put a restriction on my account.
Days later they put a
restriction on my account so I couldnt take out money
anymore even though I
knew my OWN pin number every time I tried it would say
transaction not
accepted. Thanks to the assholes at CIBC because I
called and asked one simple
question now I cant take out money from MY OWN ACCOUNT?

To whom it may concern,

I will also be leaving CIBC because they decided to
change the goal
posts without even telling the customer. I was paying a
flat fee for
unlimited use of debit transactions and whatever else.
Now without sending a
memo they changed it to 60 transactions then .60 cents
per transaction after
that. I then had a service charge for about $30 for
transaction fees. I find
this unacceptable business practices. I think this is
gouging at it best.
They get you using debit and banking online then they
screw you without
looking. All I have to say is Bye - Bye CIBC.

Thanks for this site.

Scott C.
Aldergrove, B.C

Veronica Drummond <vdrummond@shaw.ca>

Dear Teller,

I had been dealing with CIBC for over 10 years. I had a business account, two chequing accounts, a line of credit, a visa through CIBC, had taken out and paid off two personal loans and my mortgage was held by them.

I approached the branch where my mortgage and two accounts were held and asked to draw a larger line of credit for the opening of a new business venture. I was encouraged to keep it under $40k so as not to have to secure it.

The loans officer calls back to inform me that I am too high of risk to have it unsecured. I was only going off their advice anyway, but then asked to have it secured against the value that I had in equity in my house. This value was approx. $100k. The lovely CIBC person calls me to inform me that I have been declined because I am too high of a risk due to some late payments on a loan and my mortgage.

I could not comprehend how THEY would be at risk putting up $40k to the $100k I was risking with the equity in my home. If I was to default, they would get my house for $40k -- looked like a pretty secure business deal for them! As for late payments, I am also pretty sure that they raped me in interest every time I was late so I am not sure how they were affected other than having someone phone me at home and make me feel like crap that I was struggling with my life and needed to pay up so as not to lose my home!! Great relationship building skills!

I "threatened" the loans person with withdrawing all of my accounts from the bank, including the mortgage for which they had already received over $100k in interest, and moving to another bank. Not only would they lose out on any more mortgage payments but also on any further business dealings and I was just starting another business venture. The loveley loans lady thought that it was too bad that I felt that way but there was nothing she could do.

I then proceeded to move all my dealings to another bank. I had one last business cheque that was to clear on one of my accounts and had couriered a cheque to the branch from my lawyer (in trust) to cover the amount. For some reason they sent the cheque through IN HOUSE MAIL to the branch where the account was held and my business cheque bounced. The bank would not cover the business cheque because of insufficient funds! I informed them that the only reason it was NSF was due to them not depositing the cheque I sent them! The lovely loans officer again apologized and was sorry I felt that way.

I really do believe that CIBCSUCKS.

"lorne baron" <lbarons@telus.net>

I've had an account at the CIBC since 1989. When I signed up I got an account where the charges were $7.50 per month and that included ATM transactions and Money Orders. I was getting lots of money orders and using ATM's a lot, so it made sense. In 1995, my husband had to go away to school for 3 years so we got him a card on the account. I was told that transaction fees would be charged when he used his card, but that mine would stay free. That was okay because his was for emergencies. Shortly after that, they dropped the free money orders and raised the monthly charge. I didn't say anything, but I was choked. Then about a year and a half ago I noticed that they were charging me for every ATM transaction that I made. And, you guessed it, they raised the fees. Why are they raising fees on an account that they keep dropping services from? Why do I have this account? I don't hold out any hope of getting my money back from these crooks, but I'm pissed!!! CIBC Sucks!

Cheryl Baron cheryl_baron@yahoo.com

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I tried to buy the domain name and it had already been taken. You beat me to
it, good for you.

I was going to publicly take a strip out of the CIBC for closing my account
without warning and refusing to provide me with reasons why, except for "we
believe it to be in our mutual interests". They actually wrote that! High
volume personal account (mid 6-digits/year) and no, I am neither a money
launderer, drug dealer, etc. Had no NSF cheques, unauthorized overdrafts,
etc. In short, a clean unproblematic account.

I am a businessman (exporter) and have a CIBC Visa with Aeroplan miles and I
run as many business expenses as I can through the card to obtain Air Miles.
My (former) CIBC account was a convenient facilitator to expedite payments
to Visa. Many of my suppliers accept VISA and I would be a fool not to pay
with my credit card - flying virtually free each year is a great reward.

To this day the bank refuses to give me an explanation. The closest I have
come to understanding what happened was through the "grapevine". For a small
town (pop 20k) too much volume, whatever that means. They also pledged to
send me a cheque for the balance on account (a mere $100 or so upon closing
of the account), which they never did. No worries, as those 100 bucks are a
great investment. One day, the manager in Williams Lake, Maureen Lee, will
be confronted with this in a very inopportune situation - the social
embarrassment to her will be well worth the money.

I have opened an account at another bank and I consider it to be the CIBC's
loss, not mine. I guess premium customers are great but when it's 10 times
the manager's salary, well um.... that's not very comfortable. There HAS to
be something wrong with that account, right? Large cash flow in business and
an Air Miles guru? Nah, not in this town... the guy is suspicious. Let's
close his account but ensure we don't tell him why. Gosh, we wouldn't want a
libel lawsuit, now would we? Keep up the good work. Cheers.

Bernd

PS: This REALLY happened, I have all the documentation
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