πŸ›  CIBC cheatsheet
3 min read

πŸ›  CIBC cheatsheet

How to use CIBC's (Canadian Imperial Bank of Commerce) service offering of a unique credit alert feature.
Personal Banking | Financial Services | CIBC
The Canadian Imperial Bank of Commerce, commonly referred to as CIBC, is one of the Big Five banks in Canada. The bank is headquartered at Commerce Court in Toronto, Ontario.
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TL;DR: Why we use this service

βœ… This product supports multi-factor authentication (Glossary: MFA) for login to the CIBC online banking (Glossary: web app). MFA is supported using email. Competing products (such as RBC and BMO) do not offer this feature.

This is both good and bad. We like that it uses email, especially as we think SMS-based MFA is insufficient in 2021 (looking at you, Service Canada). But it should really adopt a common standard, like Bitwarden does, and give people the convenience (and strength) of using authentication apps like Authy.

This product doesn't check all our boxes but, amongst its competitors, it comes the closest to meeting all the criteria.
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Extra ways we get value from this service

Screenshot of the modal turning on the credit report change alert.
The feature to activate credit report activity alerts.

CIBC online banking displays information from Equifax Canada, the credit bureau, and alerts you if there is activity on your credit file (Sources: 1). We set it up to email us notification of new activity. As an example, we received a notice when a utility vendor made a hard check on our file as part of our adding new connections to our workspace.

Woman wearing blue and orange with pink stars, looking at a laptop, with a dog next to her, and a screenshot of the credit report change alert.
An example of an alert seen within the web app. (We added the dog 🐢)
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How to get support

To resolve issues using CIBC, follow these steps.

  1. Use the Questions feature on https://www.cibc.com/en/personal-banking/ways-to-bank/how-to.html: enter keywords for what you want to solve, then tap the magnifying glass to search. Results will open in a pop-up.
  2. If you don't find a solution, log into CIBC online banking (Glossary: web app) and connect to support over chat.
  3. If you find it necessary to call, find the best phone number for your issue: https://www.cibc.com/en/contact-us.html. We find waiting on chat less intrusive to our workday, rather than waiting on the phone, but you may find otherwise πŸ™‚

Some credit card requests will need to be done over the phone, but we appreciated the availability of chat.

A warning: chat support folks disconnect very quickly when you don't respond. We suggest not multitasking, to avoid that happening. If you are disconnected, you'll have to rejoin the queue. We found the shortest wait time in the late afternoon (Pacific time).
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Sources

  1. https://cibc.mycreditdefend.com/EN/Home/Support?sc=Cr_Alert

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