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How to Cancel a CIBC e-Transfer: A Comprehensive Guide

Canadian Imperial Bank of Commerce (CIBC) provides its customers with convenient ways for financial transactions, and one of these is the e-Transfer. However, situations may arise when an e-Transfer needs to be cancelled. This article will walk you through the detailed and step-by-step processes on how to cancel a CIBC e-Transfer using three different methods: via online banking, the mobile app, and by calling customer service.

Online Banking

Online banking is a quick and efficient way to manage your regular banking transactions, including cancelling e-Transfers. Below are the steps you need to follow if you choose this method:

• Login to your CIBC online banking account.
• Go to the “My Accounts” tab and select the account you used for the e-Transfer.
• Click on the “View e-Transfer Details” link.
• Find the e-Transfer you want to cancel and hit on “Cancel”.
• Confirm the cancellation details and click on “Confirm”.

As soon as you confirm the cancellation, the funds will be credited back into your account. It’s important to note that you may incur a cancellation fee set by CIBC.

Mobile App

Like online banking, the CIBC mobile app is another easy way to cancel an e-Transfer. Here’s how:

• Login to your CIBC mobile app.
• Tap on the “Transfers” icon and then the “e-Transfer” option.
• Find the e-Transfer you wish to cancel and press on “Details”.
• Then, press the “Cancel” button.
• You will then need to verify and confirm your cancellation decision.

CIBC's mobile app is user-friendly and provides real-time updates, so you would be immediately notified once your cancellation is successful. Do remember that a cancellation fee may apply, same as the online method.

Calling Customer Service

If you don’t have access to the CIBC online platform or you prefer to speak to a real person, the third option is to call the CIBC customer service. The steps are as follow:

• Locate the CIBC customer service number, which should be available on the back of your banking card or on the bank’s official website.
• Call them and follow the automated prompts until you reach a representative.
• Provide the representative with necessary information including your account details and the e-Transfer details.
• Request to cancel the e-Transfer. The representative will then do this for you.

You’ll receive a notification, either through your email or phone, confirming the cancellation. Also, as with the previous methods, the bank may charge a cancellation fee for this service.

In most cases, cancelling an e-Transfer via online banking, mobile app or customer service is simple and straightforward. But it's essential to remember that these are doable only if the recipient hasn’t accepted the money yet. Therefore, acting swiftly is key to avoid situations where cancellations may not be processed. Having a good understanding of the e-Transfer cancellation policies of CIBC can also prevent potential inconveniences.

Conclusion

Hopefully, this guide provides a clear understanding of how to cancel a CIBC e-Transfer via either online banking, the mobile app, or by calling customer service. Each method has its advantages, and the selection largely comes down to a matter of personal preference. Whether you go digital or traditional, it's comforting to know that you’re covered.