What's wrong with CIBC?

[bmwguy]

This bank really likes risky business
http://www.reportonbusiness.com/servlet/story/RTGAM.20071207.wrcibc07/BNStory/Business/home

 

[Brotherman]

tell me about it, they are the worst ever.

 

[Pargolfer]

Worst managed bank in Canada...

at all levels of management...

tell me about it, they are the worst ever.

 

[Brotherman]

Thank you

at all levels of management...

Finally somebody who agrees!!

 

[WinterHawk]

at all levels of management...

It started going down hill 10 years ago when the Stockbrokers won control of the Bank. Then the "management" was only worried about what their bonus was each quarter. No long term thinking, no stewardship of the bank and their customers.

 

[Esco!]

Worst freaking bank in the world, they should have their license revoked!

Werent they charged with money laundering a few years ago???
Amazing they left a bunch of criminals continue operating a multi-billion dollar business

 

[Radio_Shack]

Worst freaking bank in the world, they should have their license revoked!

Werent they charged with money laundering a few years ago???
Amazing they left a bunch of criminals continue operating a multi-billion dollar business

All the banks were "charged" with money laundering 3 years ago. They all had to put in a new system for AML (Anti Money Laundering) which tracked every transaction of $10K or more for ML activities. LOL, I made lots of cash off that project

 

[Shades]

Gosh....and I thought I was the only one in the world that thought CIBC was the worst bank going....and given the performance of the other banks, that is saying alot!

 

[someone]

CIBC is bad as are Canadian banks in general. I’m thinking of giving the Bank of Nova Scotia a try. I’ve found that as far as retail customers are concerned, it is hard to bet American banks. I’ve lived in a few countries and my best experiences have been in the U.S.

 

[danmand]

CIBC is bad as are Canadian banks in general. I’m thinking of giving the Bank of Nova Scotia a try. I’ve found that as far as retail customers are concerned, it is hard to bet American banks. I’ve lived in a few countries and my best experiences have been in the U.S.

I agree. Once when I lived in California, I made a deposit of $300, and the
bank credited me $30,000.

 

[drlove]

I agree. Once when I lived in California, I made a deposit of $300, and the
bank credited me $30,000.

Did you get to keep the money??

 

[Mel N. Choly]

CIBC is as close to dysfunctional as you can get. I know some financial insiders and lawyers and banking people and they say of all the big banks, the CIBC is hideously managed. I know so many horror stories about this firm.
Avoid.
Mel

 

[Esco!]

For customer service my favourites are Canada Trust and Scotiabank

Worst are Royal and CIBC

 

[ThePunkPanther]

cibc.... bunch of crooks. they're pretty good at ripping off there vendors. [and customers and anyone else they can get there slimy little hands on].

 

[danmand]

Did you get to keep the money??

I am pretty sure I could have. I noticed the mistake just before I
was leaving for a business trip to Europe, and when I came back
more than 3 weeks later, the money was still there, and had survived the monthly reconciliation run.

They were actually quite annoyed when I called and told them they
had made a mistake. Did not initially want to admit having made a mistake.

This happened 30 years ago, when $30,000 was quite a bit of money.

 

[Brotherman]

That $30,000 you talk about has happened to CIBC before. Except this time it was $56,000!
http://www.citynews.ca/news/news_9660.aspx


CIBC is the lowest of all scum bags, who are operating today.

 

[jbar]

I was a National Corporate Banking Manager for 2 years at a major retailing company. I can say that CIBC is also dreadfull for corporate cash-management purposes. One time, I tried to open up a account at CIBC (for Amex settlements), and Amex required a letter of authorization (anti-laundering policies, etc.) from CIBC in order to do this. After 3 months, CIBC STILL didn't come up with the letter. So I got RBC to do it. They did it in 3 days. I slowly removed corporate business from CIBC piece by piece where-ever possible, and gave it to RBC. After I left the retailing company, my contacts at CIBC offered to try to get me a job at their bank. I said no-thanks. Hell, I rather work at HSBC.


Cheers