For the second time this month, today I went to use my CIBC “convenience” card for the first time and was greeted with: “You have exceeded your daily limit.” When I call telephone banking I get the same story: CIBC Fraud Detection has identified that my card could have been possibly stolen, so they set my daily limit to $0 to protect me. All they will say is my card was used at an ATM or store that the police have told them could be compromised. But they can’t tell me where, or when. To get it reactivated, I have to go change my PIN at a CIBC ATM (a rare sight in downtown Toronto for some reason) within 1 hour of the call, then wait 4 hours.
When I asked to talk to a supervisor, he went into a sob story about how there’s just so much fraud now that they have to disable all the cards that were used at any store the police report to them. I told him that I just use my card at other bank tellers (never those sketchy independent ATMs) and Subway. Doesn’t matter, they are trying to protect me. That seems unlikely. If my card and PIN were actually stolen, I would call them up, tell them about it, and they would replace the funds (that’s the friendly CIBC guarantee). So really, they are just protecting themselves by locking down my card at the drop of the hat…and pissing me off.
To me, my bank card with a PIN and a daily cash limit of $200 seems way more secure than my CIBC VISA card with a $10,000 limit and no PIN. Yet, the only time my VISA has been disabled was when I go on trips, and in that case they reactivate it in about 5 minutes over the phone. Granted, any card is fundamentally insecure but having that card to get at your money easily is really the only reason to keep a chequing account open. Otherwise, I would just have a stack of cash under my mattress and a shotgun.
I’m not going to feel sorry for all the fraud plaguing CIBC (with their record profits). The cost of keeping me as a customer is losing $200 (my daily limit) if I were dumb enough to let someone see my PIN code. Deal with it. I’d move to another bank if I thought it would be any different.
Funny.. my card from RBC got shut down today as well. This is the 6th time this year for me. It’s gotta be linked to one of the machines around work… hrmmmmm.
Did you use your card at Subway? I think that’s the only place we all have in common. I never really take out cash at ATM’s around work.
The same thing happened to me two days ago! My TD CanTrust card was disabled after using it at, you guessed it, Subway. I knew those guys were sketchy!
“To get it reactivated, I have to go change my PIN at a CIBC ATM”
Why are these so rare anyway – it’s so inconvenient. And did you know that the CIBC at Simcoe/Queen isn’t even open on Saturdays, so the ATM is locked up then as well?
Sorry this had to happen to you guys
Type your comment here.
I wish you had a number I could call in your web site in order for me to report my lost or stollen banking card
well…i have lost my card and have nowhere to report it!!!!!!!!!!!!! they are closed for the fn’ weekend. just like suzanne above on august 2nd here i guess i am in same boat.
i noticed there is a mysterious debit on my account that mentions a night deposit. does this mean that someone stuck it in the night deposit slot and now i have been charged for it?????????????
i am trying to report it lost and/or stolen and it has been deposited and i have been charged and no one has TOLD ME? CAN THIS BE SO? what a horror story.
where is my card boo hoo
Can anyone tell me where a downtown Toronto ATM is?
Is there one down by Union Station?
Thanks!
CIBC has locked my card twice in the last month (including today). Once when I was in the US on a business trip for 2 weeks. That was infuriating. And yes, I’ve used mind at Subway.
My card was just disabled due to a fraudulent withdrawl. CIBC caught it and called to inform thank goodness. I didn’t think I been anywhere strange…. until I saw that I had also been to Subway…. this is certainly concerning. My understanding is that those restaurants are all owned independently… have we all been to the same one? Mine is in Bookfield place in the food court near Union Station…. I can’t imagine that there is something sketchy going on there…
My story is so similar to this, I could have written it. I also had my card disabled 2 times in the last month for the same reason. After reading this, I checked my records and the last debit purchase prior to my card being disabled was Subway.
I was out of cash last week and was stupid enough to use my card at Subway again. They locked out my card yesterday again
So I think we have enough proof to safely say: if you use your CIBC bank card at Subway in Toronto, it will be disabled.