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How to Close Your CIBC Bank Account: A Comprehensive Guide

Deciding to close a bank account can be a significant step. Whether you are switching to another bank or simply want to eliminate a redundant account, the process should be as hassle-free as possible. This article explores three options to close your Canadian Imperial Bank of Commerce (CIBC) account: online banking, the mobile app, and calling customer service.

Online Banking

Online banking offers a convenient and straightforward way to close your CIBC account. Here is a step-by-step guide:

• Log in to your CIBC online banking account from their website.
• Once logged in, select 'Customer Services' from the main menu.
• Choose 'Account Services' and then 'Close an Account.'
• Follow the prompts to select the account you wish to close.
• Review the information and confirm the closure.

The online process may take several business days to be final. Remember to transfer any remaining balance to another account before closing.

Mobile App

CIBC's mobile app provides another option to close your bank account. Follow these instructions:

• Open your CIBC Mobile Banking app and sign in.
• Tap the 'Menu' bar at the top left corner of the screen.
• Select 'Services,' then 'Bank Services.'
• Tap on 'Close Account' and choose the relevant account.
• Verify your decision.

Note that just like online banking, closing an account via mobile app might take a few business days. Make sure to settle any pending transactions or fees before proceeding.

Customer Service Call

If you prefer to speak directly with a representative or have specific questions, calling CIBC customer service may be the best option to close your account. Here are the steps:

• Call the CIBC customer service hotline at 1-800-465-2255.
• Listen to the automated menu and select the option pertaining to closing an account.
• Speak with a representative about your decision to close your account.
• The representative will guide you through the process and address any concerns or questions you may have.

If you opt to close your bank account over the phone, bear in mind that business hours may apply. Be ready to provide necessary information to confirm your identity.

Bottom Line

Deciding to close your CIBC bank account is a significant decision. CIBC offers multiple ways to do it: through online banking, the mobile app, or a customer service call. Regardless of the method you choose, remember to ensure all outstanding fees are paid, and the account balance is transferred or withdrawn before the closure.