Depending on the situation and the sensitivity of the information, your consent may be obtained in different ways. It may be expressed in writing or implied, provided to us verbally, electronically, or through an authorized representative. For example, when you provide us with your personal information when you apply for a product or service with us, or continue to use a product or service without objection, you are consenting to the terms and conditions of our privacy-related documents and our CIBC Canada Client Privacy Policy.
Examples of consent:
If you have a CIBC credit card and we inform you about revised terms and conditions for the card, we can conclude that you agree to those terms and conditions if you choose to continue using the CIBC credit card.
Written: You may sign a paper application that states “By signing here, you are agreeing to all the Privacy Disclosures and Terms and Conditions in this credit application.”
Electronic: You may be asked to electronically acknowledge that you will be bound by legal terms or agree to certain statements by selecting “I Agree.”
Verbal: A CIBC representative asks whether you agree to us obtaining your credit bureau information. Saying you agree is your verbal consent.
Under our CIBC Canada Client Privacy Policy, CIBC may collect, use or share personal information where it is “permitted or required by law”. This includes information collected, used or shared where:
It is permitted under applicable law without consent, such as an investigation of a contravention of the laws of Canada, a province or a foreign jurisdiction.
It is required under other laws, such as applicable anti-money laundering and anti-terrorism laws and regulations that require the collection of certain information when you open an account with CIBC.
It is collected, used or shared with regulators or self-regulatory organizations, such as the Office of the Superintendent of Financial Institutions (OSFI) or the Investment Industry Regulatory Organization of Canada (IIROC), in accordance with their applicable rules, codes, guidelines, expectations or requests.
In accordance with applicable privacy law, CIBC collects information about you that is reasonably required to process the application for the product or service for which you have applied. For example, we may obtain your credit report to help qualify you for credit products or deposit accounts with overdraft protection, or hold or withdrawal limits.
When you hold a credit product with CIBC, like a credit card, loan, line of credit or mortgage, or a deposit account with overdraft protection, or hold or withdrawal limits, we will exchange information about you with credit bureaus on an ongoing basis for as long as you hold the product and for a reasonable time afterwards. This may include information about your current and past credit accounts such as type, amount, payment history, collections actions, legal proceedings or other information that the credit bureau has collected from your other lenders. We may collect, use and share this information to verify your creditworthiness, assess and manage our credit risks, establish credit and hold limits, qualify you for other products and services, and detect and prevent fraud. We may also periodically update your information with credit bureaus to help maintain the integrity of the credit-reporting system. For details, refer to Credit Bureau Checks.
The length of time we keep your information will vary depending on the product or service, and the type of information we have. We keep your information for as long as we reasonably need it for customer-service, legal or reasonable business purposes. For these reasons, we keep your information beyond the end of your relationship with us.
Information may be shared with or accessed by our service providers so that they can perform services on our behalf such as data processing. We limit sharing to what is required to perform the services. We are careful when selecting our service providers and require them to have privacy and security standards that meet CIBC’s requirements. We use contracts and other measures with our service providers to maintain the security of your information and to prevent it from being used for any other purpose other than that for which it was intended.
Biometric information is the measurement of physical and behavioural characteristics, such as facial features and voice patterns, that enable machines to verify identities. This may be a digitized profile of your voice (voiceprint) that allows us to verify your identity when you call us.
A cookie is a file with a unique identifier stored by a web browser. Cookies can be used to record your internet browsing activity and to personalize your online experience when you search for information. For additional details on cookies, refer to our CIBC Canada Client Privacy Policy.
Notify a banking centre or office where your account is held immediately, talk to your CIBC representative or, if you’re a CIBC banking client, call us at 1-800-465-2422 Opens your phone app. if:
Your CIBC debit or credit card is lost, stolen or retained by a bank machine.
You believe someone has obtained your card number, Personal Identification Number (PIN), password or answers to your online personal verification questions.
You believe your personal or financial information has been compromised.
You believe you have been the victim of identity theft, or that someone is using or accessing your personal information without authorization. For additional details on identity theft, visit Identity Fraud and Theft.
Your PIN and OTVC for online and telephone banking are the keys to your accounts. You are the only person who should know them.
Never disclose your current PIN, passwords or OTVC to anyone, or you could be liable for losses. You should make it difficult for others to guess your password by using a combination of letters and numbers in your password. For more information, visit CIBC Online Banking Safety Tips. No CIBC employee or agent will ever ask you verbally or electronically for this information. However, when using telephone banking, we may ask additional questions to identify you. When you conduct transactions at a bank machine or at a point of sale, use your hand or body to shield the keypad or contactless payment from onlookers.
Promptly check your paper or online statements to verify all transactions have been properly recorded. If entries do not accurately reflect your transaction activities, like if there are missing or additional transactions, notify a banking centre or office where your account is held, talk to your CIBC representative or, if you’re a CIBC banking client, call us at 1-800-465-2422 Opens your phone app..
Making sure that CIBC has your most up-to-date address or contact information will help protect your personal information from being misdirected. You can update your contact information, and change your address, password or more in your profile from the “Customer Services” link in the menu in CIBC Online Banking® or through the settings icon in “My Profile” in CIBC Mobile Banking®. For details on how to update your personal information, visit How to Manage Your Accounts.
To protect your privacy online, you should clear your browser's cache after each session, and use a firewall and up-to-date software to protect your computer from viruses and spyware. For more helpful tips, visit Privacy and SecurityOpens in a new window.. As online privacy measures continue to evolve, we provide answers to common questions about online security software, phishing and online fraud and website activity, including cookies, and other steps you can take to protect yourself online.
CIBC is eager to work with you to protect you from the risk of identity theft and fraud. We have provided a helpful guide that is frequently updated to assist and help you learn how to protect yourself. For more details, visit Identity Fraud and Theft.
