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How to Withdraw a GIC from CIBC: Navigating Online Banking, Mobile App, and Customer Service

Guaranteed Investment Certificates (GICs) are popular investment vehicles designed to offer reliability and peace of mind. But what happens when you need to withdraw your GIC before its maturity date, and you bank with the Canadian Imperial Bank of Commerce (CIBC)? This guide aims to demystify the process and give you a roadmap to getting access to your investment via online banking, CIBC's mobile app, and customer service.

Online Banking: A Comprehensive Guide to Withdrawing Your CIBC GIC

Online banking has become increasingly popular due to its convenience and round-the-clock accessibility. Here is a step-by-step guide on how to withdraw your GIC using CIBC's online banking:

• Log in to your CIBC online banking account.
• Navigate to the 'My Accounts' section.
• Select your GIC account from the list of your accounts.
• Look for an option to 'Redeem' or 'Withdraw' funds.
• Follow the prompts to finalize the withdrawal. Note that if your GIC hasn't matured, there may be penalties or conditions in place.

Mobile App: Your Guide to Accessing Your Funds on the Move

If you prefer to conduct your banking transactions on your mobile device, CIBC has a robust and user-friendly app that allows customers to manage their funds, including GICs. The following steps will guide you through the process:

• Download the CIBC Mobile Banking App from the Google Play Store or Apple App Store.
• Log in using your online banking credentials.
• Tap on 'Accounts' at the bottom of the screen.
• Select your GIC account.
• Choose the 'Redeem' or 'Withdraw' option.
• Follow the app's instructions to complete the withdrawal.

Customer Service: Get Help from a CIBC Representative

For those who prefer a more traditional route or require assistance, contacting CIBC Customer Service might be the best choice. Here's how to get help withdrawing your GIC from a CIBC representative:

• Call CIBC at 1-800-465-2422. If you're outside Canada and the U.S., call them collect at 1-(902)-420-2422.
• Follow the automated menu prompts to reach a representative.
• Once connected, inform the representative that you'd like to withdraw your GIC.
• The representative will guide you through the withdrawal process, including any potential penalties and the timeframe for your funds to be available.

No matter which method you choose, it's important to be aware of the terms of your GIC, especially if you're withdrawing your funds before the maturity date. Early withdrawal might result in penalties or the forfeiture of interest, so make sure to check your GIC agreement or consult with a CIBC representative if you're unsure.