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How to Stop a Pre-Authorized Payment with CIBC: A Comprehensive Guide

Pre-authorized payments provide convenience, but sometimes you might need to stop a payment due to a financial change, dissatisfaction with a service, or simply a change of heart. With the Canadian Imperial Bank of Commerce (CIBC), stopping a pre-authorized payment is relatively straightforward. This step-by-step guide will walk you through three effective methods: online banking, the mobile app, and calling customer service.

Stopping a Pre-Authorized Payment Via CIBC Online Banking

One of the most efficient routes to stop a pre-authorized payment is through the CIBC Online banking platform. Here is how you can do it:

• 1. Navigate to the official CIBC website and login to your online banking account.
• 2. Access the accounts tab and select the account linked to the pre-authorized payment.
• 3. Locate the ‘Transactions’ page and find the pending pre-authorized payment.
• 4. Click on the ‘Stop Payment’ option and follow the prompts.
• 5. Finally, confirm your intention to stop the payment. A notification will appear confirming the cancellation.

Note: The steps might vary slightly depending on the specific type and structure of the pre-authorized payment. Ensure to check the payment’s terms and conditions.

Cancelling a Pre-Authorized Payment Using CIBC Mobile App

If you are on the move or prefer using your mobile device for banking transactions, CIBC's mobile app offers another way to stop a pre-authorized payment:

• 1. Download and install the CIBC mobile app from your device's app store if you haven't already done so.
• 2. Once logged in, choose the account where the pre-authorized payment is scheduled.
• 3. Proceed to the indicated pre-authorized transaction under the ‘Transactions’ section.
• 4. Select the transaction and tap on the ‘Stop Payment’ button.
• 5. Confirm your decision and wait for the confirmation message.

The process can slightly differ due to variations in mobile device interfaces. If you experience issues, consider seeking assistance from CIBC digital support.

Stopping Pre-Authorized Payments by Calling CIBC Customer Service

If you’re more comfortable speaking to a person or if you’re having trouble with the online services, you can call CIBC customer service to stop a payment:

• 1. Dial the CIBC customer service hotline at 1-800-465-2422.
• 2. Prepare your account information for identity verification.
• 3. Explain your desire to stop a pre-authorized payment. Provide all required details about the payment.
• 4. The customer service representative will guide you through the process and confirm once the payment has been stopped.

While CIBC representatives are typically helpful, wait times can vary depending on the time of day and week, so be prepared for potential hold times.

Conclusion

Pre-authorized payments can be convenient, but there might come a time when you need to cancel them. Using CIBC's channels – online banking, the mobile app, or calling customer service – you can take control of your financial transactions with ease and confidence.

Remember, each method comes with its own set of considerations, so it's important to choose the one that best suits your circumstances and comfort level.