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The Tax-Free Savings Account (TFSA) is an excellent savings tool, but you may find yourself needing to stop or modify your automatic contributions at times. Whether you're dealing with financial strain or changing your investment strategy, the Canadian Imperial Bank of Commerce (CIBC) provides three main methods to manage your TFSA contributions. Here’s the complete guide to stop automatic TFSA contributions via online banking, mobile app, and customer service call.

Option One: Online Banking

CIBC's online banking platform is efficient, secure, and user-friendly. Here is how you can stop your automatic TFSA contributions:

• Sign in to your CIBC Online Banking account.
• Select "My Accounts" on the main dashboard.
• Find and click on your TFSA account.
• Check for the "Manage Automatic Transactions" link.
• Choose "Stop" and confirm your decision in the pop-up box.
• Check your email for confirmation. If you don’t receive it, contact CIBC.

Option Two: Using the CIBC Mobile App

With a smartphone, you can manage your TFSA easily. Here are the steps:

• Download and install the CIBC Mobile Banking App if you haven’t already.
• Sign in using your CIBC Online Banking credentials.
• Select "Accounts" from the menu and navigate to your TFSA account.
• Select "Manage Automatic Transactions" under account settings.
• Choose "Stop" and confirm your decision.
• Check for an email or app notification confirming the transaction.

Option Three: Call the CIBC Customer Service

Maybe you're not tech-savvy, or you prefer talking to a human. No problem, CIBC has you covered. To stop your automatic TFSA contributions over the phone:

• Dial CIBC's toll-free number: 1-800-465-CIBC (2422).
• Follow the automated prompts and select the option related to TFSA accounts.
• Speak with a CIBC representative and request the stoppage of your automatic contributions.
• You may need to provide your TFSA account details and confirm your identity for security purposes.
• After the request, the representative will either confirm the stoppage immediately or after a certain period depending on bank procedures.
• Ask for a confirmation number or email to document your request.

In conclusion, CIBC offers multiple ways to manage your TFSA contributions. It’s crucial to stay on top of your financial planning, and now you know how to halt automatic contributions if and when you need to. Remember, no matter what changes you make, always ensure they align with your financial goals.