Toronto Dude (torontodude) wrote,
Toronto Dude
torontodude

CIBC bank accounts for immigrants

A while back I have written posts about how CIBC mortgage advisors are the worst, and how CIBC is the worst bank in canada, period, but then a recent commenter on one of these posts wrote a comment about how similar experience they had, and like many others hated what CIBC have done to them, and that reminded me of my first experiences with CIBC, so I thought I should write those too.

Back in the day when I first moved to Canada the first bank I tried to open an account with was CIBC, so I walked into a branch and I asked to open a bank account. Having just arrived here, I was staying at a hotel and had no permenant address, I also had all my money in a draft cheque issued by Royal Bank (which is a Canadian institution!), with very little cash on hand...obiously I didn't want to carry very large sums in cash. CIBC bankers told me that I simply can't open the bank account because I did not have a permenant address!! And the only way to cash the draft cheque would be to open a bank account, so basically my money was stuck and there is no way for me to open an account with them! I asked how could I find a permenant address if my money was stuck in a draft cheque, and their answer was.... sorry we cannot help you!
I was really shocked how poorly this bank is run, but being new to Canada, I thought this was a normal banking experience, no realizing that  I was in fact dealing with the worst bank in Canada
Tags: banks, canada, cibc, the worst bank in canada
Subscribe
  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 0 comments