Cancelling Pre-Authorized Payments with CIBC: A Comprehensive Guide

Pre-authorized payments set through CIBC are effective ways to handle your regular bills and subscriptions. However, there could be times when you need to cancel them. This article will help you understand how to accomplish this through online banking, mobile app and customer service call within CIBC. We will provide you with step-by-step instructions for each platform, making the process convenient and hassle-free for you. Let's get started!

Cancel Pre-Authorized Payments through CIBC Online Banking

Online banking provides simple and easy steps to cancel pre-authorized payments. Here's how:

• Login to your CIBC Online Banking account.
• Go to the "My Accounts" tab and select the account where the pre-authorized payment is set up.
• Click "View and Manage Payments" and then "Pre-Authorized Payments".
• Find the payment that you wish to cancel and click "Cancel".
• Confirm your action in the pop-up box to finalize the cancellation.

Please note that you should cancel your pre-authorized payment at least three business days before your next payment is scheduled to avoid any charges.

Cancel Pre-Authorized Payments through CIBC Mobile App

If you prefer using mobile applications, CIBC Mobile App has you covered. Follow these steps to cancel a pre-authorized payment:

• Open the CIBC Mobile App on your smartphone and log in using your credentials.
• Click on "My Accounts" and select the specific account linked to the payment you wish to cancel.
• Select "Manage Payments" and then "Pre-Authorized Payments".
• Choose the payment you want to cancel and click "Cancel".
• A pop-up will appear asking you to confirm your action, click "Yes" to complete the cancellation.

Similar to the online banking cancellation, ensure to cancel your pre-authorized payment at least three business days prior to avoid any penalties.

Cancel Pre-Authorized Payments through CIBC Customer Service

To cancel a pre-authorized payment over the phone, you can call CIBC’s customer service. Here's how to go about it:

• Call CIBC Customer Service at 1-800-465-2422.
• Press the appropriate number to speak to a customer service representative.
• Once connected, tell them that you want to cancel a pre-authorized payment. They might ask for specifics regarding the payment you wish to cancel.
• Provide the necessary details and confirm your action. The representative will then process the cancellation on your behalf.

Please keep in mind that processing times may vary, and it’s best to request the cancellation three business days before the next scheduled payment.

In conclusion, cancelling pre-authorized payments within CIBC can be done through various options. Whether it's via online banking, the mobile app or a direct customer service call, CIBC gives you the freedom and ease to manage your payments the way you prefer. As a reminder, always cancel your payments in advance to avoid any unnecessary charges. Good luck!