CIBC may be contacting you about your chequing or savings account due to one of the following reasons:
CIBC Overdraft Protection Service
You need to deposit enough money to bring your account into a positive balance for at least one full business day once every 90 days. If CIBC is contacting you, it’s likely your account’s been in overdraft for over 90 days.
You’ve exceeded your overdraft limit
If you have CIBC Overdraft Protection Service, in some cases, banking fees and pre-authorized payments cause your account to go over your overdraft limit. CIBC could be contacting you to deposit money into the account to bring it within the overdraft limit.
Bank accounts in the negative
Banking fees and pre-authorized payments may cause your accounts to have a negative balance, even if you don’t have CIBC Overdraft Protection Service. CIBC could be contacting you to deposit enough money into the account to bring it to a zero balance.
CIBC has solutions available for clients struggling to make the required deposit. To find out whether you’re eligible, contact one of our trained credit counsellors at 1-877-528-2330Opens your phone app..