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CIBC Convenience Banking Service Agreement

The following is important information about your bank card and PIN (secret code), as well as customer and bank responsibility and liability.

You (the customer) agree that when you select a PIN for a CIBC Bank Card or use a CIBC Bank Card in a Bank Machine, Debit Terminal, CIBC Telephone Banking, or any other service covered by this Agreement, that means you have read this Agreement and agree to be bound by it.

  1. YOU MUST KEEP YOUR PINS ABSOLUTELY CONFIDENTIAL

    You understand that when your PIN is used together with your Bank Card or Bank Card number, that will prove that you authorized the Transaction or other activity and so, that you are responsible for it. Accordingly, you agree to keep your PINs absolutely confidential; they are for your use alone. You will not tell anyone else (including a close family member or friend, or any bank or public official) what your PINs are. Your Bank Card is for your use alone. You will not allow anyone else to use it. When choosing a PIN, you will not use all or any part of:

    • Your name, or a close relative's name;
    • Your birth date, year of birth, telephone number or address, or a close relative's;
    • A number on any of your Bank Cards;
    • Any Account or Credit Card Account number;
    • A number on any ID card you keep with or near your Bank Cards (such as your SIN or driver's licence number); or
    • Any other number which can be easily obtained or guessed by someone else.

    For example, if your address is 177 Main Street, you will not select 177 as your Telephone Banking PIN or 1770 as your Bank Machine/Debit Terminal PIN; if your telephone number is 738-7777, you will not select 7777 as your Bank Machine/Debit Terminal PIN or 738, 387 or 777, for example, as your Telephone Banking PIN.

    You understand that you should memorize your PINs rather than keep any written record of them. However, if you decide that you truly need to keep a written record, you agree that:

    • You will not record any PIN on, or in proximity to, a Bank Card. (For example, if you put a Bank Card in your wallet/purse or in a drawer, you will not keep a record of your PIN there too.)
    • Your PIN must be disguised within the written record you make so that no one else can easily guess that it is a record of your PIN.
    • You will not record your Telephone Banking PIN on or near a telephone.

    If CIBC sends you a PIN, you will destroy the document on which it is printed.

  2. WHAT IF A BANK CARD IS LOST OR STOLEN, OR A PIN IS NO LONGER SECRET?

    If your Bank Card is lost or stolen or you suspect that someone else is using it or the number on it, you must notify a CIBC branch, CIBC Telephone Banking or CIBC Credit Card Services as soon as reasonably possible (but no later than 24 hours after learning of or suspecting such loss or use). CIBC accepts calls 24 hours a day, 7 days a week. To report a lost or stolen Bank Card (other than Credit Card), you can reach CIBC Telephone Banking at: 1 800 465-CIBC (2422) (Canada and U.S.), or 1 902 420-CIBC (2422) (international).

    To report a lost or stolen Credit Card, you can reach CIBC Credit Card Services at: 1 800 663-4575 (Canada and U.S.) or (514) 861-9898 (international).

    If you know, or suspect, that someone else knows any of your PINs, you must change all of your PINs immediately.

  3. RESPONSIBILITY FOR LOSSES
    1. Authorized Access: You are responsible for all authorized use of Bank Cards and PINs. If you use your Bank Card and PIN, or if you authorize anyone else to use your Bank Card and PIN, you are responsible for all Account withdrawals (including amounts borrowed, if your Account is a loan Account or has overdraft protection), for all Credit Card Account cash advances which are taken, and for service and/or interest charges which may result (collectively called "Losses" in this Agreement).
    2. Entry Errors, Fraudulent or Worthless Deposits, Refusal to Co-operate: You are responsible for all Losses which result if you make an entry error when using the Service, including when making Bank Machine or Debit Terminal Transactions. You are responsible for all Losses which result from fraudulent or worthless deposits made at Bank Machines by you or anyone else (unless paragraph 3(e) applies). If you claim that a Bank Account or Credit Card Account was accessed by someone else but you do not co-operate fully in an investigation by CIBC and/or the authorities, you will be responsible for all Losses.
    3. Contributing to Unauthorized Use: If someone else uses your Bank Card and PIN without your authority but your actions (or inaction) contributed to that unauthorized use, you are responsible for all Losses which result (except for any amounts which may be withdrawn from your Bank Account in excess of the daily Bank Machine and Debit Terminal withdrawal limits set by CIBC from time to time). "Contributing to unauthorized use" includes (but is not limited to) your failure to fully comply with paragraphs 1 and 2 of this Agreement or to remove your Bank Card or money from a Bank Machine.
    4. Further Clarification Regarding "Losses": You acknowledge that the amount of the Losses for which you may be held liable under paragraphs 3(a), (b) or (c) above is not limited to the Account balance if the Account has overdraft or similar protection, or by your credit limit if it is a Credit Card Account or other loan Account. In these cases, you will be liable for the amount borrowed, plus interest and/or service charges. Similarly, if there are Losses from fraudulent or worthless Bank Machine deposits for which you are responsible, your liability will include (but not be limited to) the amount of the fraudulent or worthless deposits.
    5. Losses from Circumstances Beyond Your Control: You are not responsible for any Losses due to circumstances beyond your control or, in other words, if there was nothing that you reasonably could have done to have prevented the Loss (as long as you cooperate fully in any investigation by CIBC and/or the authorities). "Circumstances beyond your control" are deemed to include (but are not limited to):
      • Convenience Banking Service malfunctions or other technical problems with the Convenience Banking Service when a Transaction has been accepted at a Bank Machine/Debit Terminal in accordance with your instructions;
      • Errors by CIBC; or
      • Bank Card and/or PIN use in cases where CIBC is responsible for preventing that use. This includes if a Bank Card and/or PIN is used in the Convenience Banking Service after:
        • You advise CIBC that a Bank Card has been lost or stolen;
        • CIBC cancels a Bank Card or it has expired; or
        • You advise CIBC that someone else may know or be using one or more of your PINs and/or Bank Cards.
  4. DISPUTES WITH MERCHANTS

    If you use the Convenience Banking Service to purchase goods or services from a merchant or to pay a merchant's bills, you must settle directly with the merchant any disputes or claims you may have. (This includes, but is not limited to, if you make a Transaction at a Debit Terminal and neither you nor the merchant notices that the Transaction amount is wrong.) CIBC has no responsibility for any such problems or disputes and will not be liable if a merchant does not give you credit for a bill payment, imposes any additional charges (such as late fees or interest penalties), or takes any other actions. CIBC will not be responsible for processing delays by merchants. Although the amount of your bill payment will be withdrawn from the Account you select on the date you instruct CIBC to make a bill payment, you understand that not all merchants credit bill payments as of that date.

  5. DISPUTES WITH CIBC

    If you have questions regarding the Convenience Banking Service or any dispute with CIBC regarding a Transaction, you will contact the branch of Account for the Account you accessed, CIBC Telephone Banking or (if applicable) CIBC Credit Card Services in accordance with paragraph 2 above. If the branch, CIBC Telephone Banking, or CIBC Credit Card Services is unable to resolve the matter, disputes will be referred to a senior level within CIBC. "Our Service Commitment to Our Customers", available at any CIBC branch, sets out full details of CIBC's dispute resolution procedure. While a dispute is being resolved, you will not be unreasonably restricted from using the funds which are in dispute (if funds are in dispute).

  6. TERMINATION OR INTERRUPTION OF SERVICE

    You may terminate this Agreement at any time by notifying CIBC. Your notice of termination will be effective only when CIBC receives it. If you terminate this Agreement, you must immediately return your Bank Cards (except your Credit Card(s), unless you are also terminating the Credit Card Agreement in accordance with its terms). If you retain your Credit Card(s), you will not be able to use them in the Convenience Banking Service (including to access your Account(s)).

    CIBC may withdraw or cancel any part of the Convenience Banking Service or your ability to access it at any time and without notice to you. CIBC will have no liability for any loss or inconvenience which may result.

    CIBC will not be liable for any damages, including, without limitation, direct, indirect, incidental, special, punitive or consequential losses or damages, inconvenience, loss of profits, loss of revenue, loss of business opportunities or any other foreseeable or unforeseeable loss resulting directly or indirectly from you being unable to access the Convenience Banking Service or any part of it for any reason, even if CIBC was advised of the possibility of damages or was negligent.

    Since CIBC owns your Bank Cards, you will return them immediately if CIBC asks you to do so.

  7. OTHER USE OF BANK CARD AND PIN AS PERSONAL IDENTIFICATION

    Your Bank Card, together with a PIN, may be used in CIBC branches to identify you and instead of your written signature on applications, agreements and other forms. Your PIN and Bank Card will be full proof of your identity and will fully substitute for your written signature and authorization; as such, they will also prove that you agree to be bound by all terms of which you are advised by CIBC.

  8. ACCOUNT ACCESS

    CIBC may impose daily or Transaction limits, and may change these at any time, with or without notice to you. Your ability to access Account deposits through the Convenience Banking Service or otherwise is subject to CIBC's policies and procedures respecting hold periods on cheques and Bank Machine deposits (including cash deposits), as amended from time to time, and to the access to deposited funds limit which CIBC has set for your Account. CIBC may change the access to deposited funds limit at any time and without notice to you. Non-Credit Card Account transactions done at a branch or Bank Machine after 6:00 p.m. local time will have a transaction date of the next Banking Day, and such Transactions done after 9:30 p.m. local time will be processed the next Banking Day. Non-Credit Card Account Transactions done through Telephone and Online Banking after 6:00 p.m. (Eastern Standard Time) will have a transaction date of the next Banking Day, and such Transactions done after 9:30 p.m. (Eastern Standard Time) will be processed the next Banking Day. Credit Card Account cash advances taken through the Convenience Banking Service are effective immediately. If you withdraw U.S. funds from your Canadian dollar Account through a CIBC Bank Machine which permits U.S. currency withdrawals, your Account will be debited in Canadian funds at the exchange rate set by CIBC. If you use a CIBC Bank Machine to deposit foreign currency into a Canadian dollar Account, CIBC will credit the Account in Canadian funds at the exchange rate set by CIBC; if you deposit Canadian or other non-U.S. currency into a U.S. dollar Account, CIBC will credit your Account in U.S. funds at the exchange rate set by CIBC. Each withdrawal or transfer from your Credit Card Account is a cash advance under the Credit Card Agreement; the term "Balance," and all references to cash advances in the Credit Card Agreement are deemed to include cash advances through the Convenience Banking Service. If you exceed your credit limit or breach the Credit Card Agreement, you may not be able to use your Credit Card in the Convenience Banking Service (including to access your Account(s)). If there is a conflict between this Agreement and the Credit Card Agreement, the Credit Card Agreement will govern, to the extent necessary to resolve the conflict.

  9. INSTRUCTIONS AND RECORDS

    You direct CIBC to accept the instructions you give CIBC through the Convenience Banking Service as if you had given them in writing and in person at a CIBC branch.CIBC may keep any type of records it wishes, including tape recorded or electronic records. CIBC's records (including those regarding the contents of any Bank Machine deposit you make) are conclusive and binding on you, and will be admissible in any legal proceeding as the best evidence of Transactions. All Transactions are subject to verification, acceptance and adjustment by CIBC. (For example, if you input the wrong amount when you make a Bank Machine deposit or if a cheque you deposit is returned NSF or for another reason, CIBC will adjust your Account balance for the proper amount.) You acknowledge that CIBC may choose to record some or all of your calls to CIBC Telephone Banking.

  10. PROCESSING FOREIGN CURRENCY WITHDRAWALS FROM BANK MACHINES OUTSIDE OF CANADA

    If you withdraw foreign currency from a Bank Machine located outside of Canada, a converted Canadian dollar amount will be debited from your Account, based on the same conversion rate CIBC is required to pay on the date of conversion, plus an administration fee. You acknowledge that currency conversion may not happen on the date of your withdrawal. You also acknowledge that the amount of the administration fee, and other applicable fees charged by CIBC, are disclosed in CIBC's current fee list, a copy of which may be obtained at any CIBC branch in Canada.

  11. SERVICE CHARGES

    You will pay CIBC's fees for Transactions and, where applicable, for using certain parts of the Convenience Banking Service. You authorize CIBC to debit these fees from any of your Accounts or Credit Card Accounts. Information about fee changes will be disclosed in accordance with applicable laws. You may obtain a copy of CIBC's current fee list at any time from any CIBC branch in Canada.

  12. CHANGES TO THIS AGREEMENT

    CIBC may change this Agreement at any time without prior notice. Notice of changes will be posted or displayed at CIBC Bank Machines (except Instant Update® machines) for at least 60 days. CIBC will also send a notice of change with or on Account statements, but only statements for the type(s) of Account that is affected by the change. (For example, if the change affects deposit Accounts, a notice will be sent with or on a deposit Account statement; if the change does not affect loan or Credit Card Accounts, no notice will be sent to you, if you have only a loan Account or Credit Card Account, as applicable). If you wish, you may obtain a copy of the current Agreement at any CIBC branch or by calling CIBC Telephone Banking at any time.

  13. LIMITATION OF CIBC'S LIABILITY

    You understand and agree that, except as expressly provided in paragraph 3(e) above, and in addition to those limitations of liability set out elsewhere in this Agreement, CIBC will be liable to you only for direct damages resulting from gross negligence, fraud or willful misconduct of CIBC arising directly from the performance of CIBC of its obligations under this Agreement and CIBC will not be liable to you for any other direct damages. In addition, CIBC will not under any circumstances be liable to you for any other damages, including, without limitation, indirect, incidental, special, punitive or consequential losses or damages, loss of profits, loss of revenue, loss of business opportunities, inconvenience, or any other foreseeable or unforeseeable loss resulting directly or indirectly out of this Agreement or the services provided to you, even if CIBC was advised of the possibility of damages or was negligent. These limitations apply to any act or omission of CIBC, its affiliates, agents or suppliers, whether or not the act or omission would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of law. Gross negligence in this paragraph means conduct (whether through action or inaction, or through words or silence) which is (i) a marked and flagrant departure from the conduct ordinarily expected of a reasonable and prudent person in the position of CIBC, or (ii) so wanton and reckless as to constitute an utter disregard for harmful, foreseeable and avoidable consequences. This paragraph shall survive any termination of this Agreement.

  14. GENERAL DEFINITIONS

    In this Agreement, these capitalized terms have this meaning:

    "Account" means a deposit or loan account with CIBC or any CIBC affiliate which CIBC allows you to access by the Convenience Banking Service, excluding your Credit Card Account(s).

    "Agreement" means this Convenience Banking Service Agreement.

    "Bank Card" means any CIBC card which enables you to use the Convenience Banking Service, including but not limited to, a Convenience Card® or Credit Card.

    "Banking Day" means any day on which your branch of account is open, other than a Saturday, Sunday or national holiday.

    "Bank Machine" means an automated bank machine which is accessible with a Bank Card.

    "CIBC" means Canadian Imperial Bank of Commerce.

    "Convenience Banking Service" means the service which allows you to deal with CIBC and its affiliates by presenting your Bank Card or providing the number on it together with a valid PIN or (in the case of interbranch banking) your written signature. It includes, but is not limited to: Bank Machine and Telephone Banking access to your Account(s), Credit Card Account(s) and CIBC and affiliate services; Debit Terminal access to your Account(s); and inter-branch banking access to your Account(s), Credit Card Account(s) and CIBC and affiliate services. It does not include using a Credit Card or Credit Card Account to purchase goods or services from merchants.

    "Credit Card" means a CIBC Credit Card which CIBC allows you to use to make Transactions and/or Credit Card Account inquiries.

    "Credit Card Account" means any CIBC Credit Card account CIBC allows you to access through the Convenience Banking Service.

    "Credit Card Agreement" means the cardholder agreement governing your Credit Card Account, as amended and replaced from time to time.

    "Debit Terminal" means an Interac®1 Direct Payment debit terminal or any other Bank Card-reading terminal which directly debits an Account for the purchase price of goods and/or services.

    "Losses" means Account withdrawals (including amounts borrowed, if your Account is a loan Account or has overdraft protection), Credit Card Account cash advances, and service and/or interest charges which may result.

    "PIN" means the different series of numbers or letters you select or which CIBC issues you, for your use alone, to identify you and enable you to use various parts of the Convenience Banking Service including, but not limited to, your personal identification number (also called "secret code" or "password") for Bank Machine and Debit Terminal access and the different PIN and/or security identifier you select for Telephone Banking.

    "You" and "Your" mean the individual to whom a Bank Card is issued.

    "Transaction" means a transaction done through the Convenience Banking Service.

    Unless the context requires otherwise, words in this Agreement which are in the singular include the plural meaning, and words which are in the plural include the singular meaning.

    CIBC endorses the Canadian Code of Practice for Consumer Debit Card Services. This Code will only apply to your Credit Card(s) when used together with a PIN to access your Accounts.

    This Agreement was previously entitled the Instant Banking Service Agreement. Any CIBC Agreement or other document which refers to the Instant Banking Service Agreement will be deemed to refer to this Agreement.
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