Thanks for nothing, CIBC

I just wanted to pass along this big thank you to the CIBC in Iqaluit.

On June 10, 2005 at 17:01, I made a cash deposit of $13,000 to my chequing account, from which I transferred $3000 to my Visa at 17:03.

Most of the money came from my VTA. I left for Ottawa on June 12 and decided on June 16 that I wanted to get $200 from my account. I went to the ATM and requested the amount and the machine came back to say “declined.”

That was strange, so I tried again to get the same reply. I called the 1-800 number on the back of my convenience card, the card that says “Your Banking Choices 7 Days a Week, 24 Hours a Day,” to find that the best I could find out was that my balance was available, but my daily limit for withdrawal was zero.

I couldn’t speak to a person because there was nobody available and the card doesn’t give you the option at 6 p.m. to speak to an agent. I came back from Ottawa on June 17 and as soon as I got home I called the 1-800 number again to find that because it was such a large deposit the bank put a hold on it.

I told the lady that this was ridiculous. I can understand holding the funds until Monday morning so that a person can physically count the money and make sure the deposit is correct, but she told me the funds would be held until June 23.

I was more upset than ever and the lady told me that if I went to the local branch, they could have the hold removed. I went to the local branch and talked to a teller who verified that, yes, they do hold large deposits, but that the manager could remove the hold.

At that point I said “I want the money in my account or in my hand,” but the teller couldn’t do that. The manager was busy, so I was told by the teller that she would call me when she was available. A few hours later, I received a call from the teller, who said she referred the call to a complaint line and I could tell them about my concern. However, the money was still held.

To date, I have not received a call from the manager, who I assume is still with the same client or probably can’t find either my cell phone number or home number from my file at the bank.

I also never heard from the bank’s complaint department either. I was, however, asked by my teller at a local supermarket if they had fixed my account yet.

For a bank that attempts to pride itself on customer service, you have done a lousy job on this one. I have recommended and will continue to pass on my great story to anyone who will take a minute to listen. A bank that knows its clients would maybe have taken a minute to call and advise them of the situation before they are in front of an ATM machine being refused funds.

My advice would be to choose your bank wisely, obviously I never did. My “thank you,” by the way, was sarcasm.

Chris West
Iqaluit