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Business Profile

Bank

CIBC Bank USA

Headquarters

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for CIBC Bank USA's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 8 total complaints in the last 3 years.
    • 3 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. 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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:02/05/2025

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I am writing to formally express my frustration and dissatisfaction with the highly unreasonable and inconvenient banking experience I recently had with ****. The process of transferring funds out of my account has been unnecessarily difficult, and the policies in place put customers in an extremely vulnerable and frustrating position.Despite how easy it is to deposit money into my **** account, transferring funds out to an already linked account has been a nightmare. The requirement for **** to call the customer to confirm the transferwhile refusing to allow customers to call **** to verify and confirm the transactionis entirely unreasonable. In today's environment, where fraudulent calls are a significant concern, customers have no way to verify whether an incoming call is genuinely from ****. This puts customers at risk and creates unnecessary stress, even though **** has multiple ways to verify customer identity securely.On top of that, this waiting-for-a-call protocol is absolutely killing me. I missed ***** call because I was in meetings, and now my transfer wont happen for another two days. This delay is completely unacceptable and makes managing my own funds unnecessarily ************ make matters worse, I was charged an unreasonable fee because I was unable to figure out how to transfer funds within the narrow 10-day maturity window. The lack of clear instructions, combined with the unnecessarily complex transfer process, led to this unfair charge.This experience has severely damaged my trust in **** as a financial institution. I expect an immediate review of my case, a refund of the unfair fee, and a resolution to the unreasonable transfer protocol that makes it nearly impossible for customers to securely access their own money in a timely manner.

      Business Response

      Date: 02/26/2025

      February 26, 2025

      Chuyue ****
      *****************
      ********,*******; 80226-3314

      Re:Better Business Bureau Complaint ID: ********

      Dear Chuyue ****:

      CIBC Bank USA (Bank, our and we) received your complaint filed with the Better Business Bureau. In your complaint you expressed dissatisfaction with the Banks account closure process, specifically the callback process, for your AgilityTM Certificate of Deposit (**) ending in #****. You also mention you were charged an unreasonable fee, citing that the window to closure the ** was too narrow and the instructions to close the ** were not clear.

      Our records show your ** matured January 11, 2025. The maturity notice advised you to contact the Bank within 10 days after maturity or the ** would ********** records show you attempted to contact the bank after hours on January 16; our after-hours recorded message informs clients to contact the call center during open hours and provides the applicable business hours. We do not have any other record of you contacting the Bank requesting closure of your ** during the grace ************* The Bank did respond to your requests sent via bank mail on January 31 and February 3 to close your **.Since the first request was made after the grace ******* an early closure fee was assessed in accordance with your account agreement.

      Your account agreement describes instructions to close your **. Prior to maturity, you also received a courtesy email reminding you of the upcoming maturity along with a contact number to initiate closure. With respect to the account closure process, callback procedures are security procedures, described in your account opening agreements, that **** uses to verify the authenticity of payment orders to protect our valued clients from fraud.

      We thank you for bringing your concerns to our attention and trust this response addresses your concern. We value and appreciate your business and look forward to the opportunity to continue servicing your financial needs. If you wish to speak to us further on the matter, please call us **************.

      Sincerely,

      Client Resolution Team
      US Private, Personal and Digital Banking
      CIBC Bank USA



    • Initial Complaint

      Date:09/24/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 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 Answer

      Date: 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

      Date:09/04/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 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

      Date:01/30/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 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

      Date:01/25/2024

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 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

      Date:01/11/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 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

      Date:05/09/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 05/15/2023

      Response attached

    • Initial Complaint

      Date:03/13/2023

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      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

      Date: 03/23/2023

      Response attached

      Customer Answer

      Date: 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,

      ********************

    CIBC Bank USA is NOT a BBB Accredited Business.

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