“What is my bank doing to help with cash flow issues during this time of crisis?”
The Canadian Imperial Bank of Commerce (CIBC) released a memo to their clients on March 17, 2020, answering many people’s questions about the inevitable financial struggle that will hit many across the globe. Cash flow solutions are being offered to those in need.
Here is what they sent:
Supporting our Clients
Our team understands the current environment and we recognize COVID‑19 is rapidly changing our normal routines. Recognizing the financial challenges that the current situation is creating for some individuals and families including business owners, we are introducing assistance for clients impacted by job loss or other circumstances. Clients in financial hardship can contact their CIBC Advisor or call 1‑877‑454‑9030 to discuss options to improve their cash flow over the short term by reviewing their payment obligations. Our team is standing by and ready to help you.
Whether it’s meeting your banking needs or discussing your long-term financial goals, we have plans in place to be here for you when you need us. We’re ready to serve you in a range of convenient ways.
We are taking steps to serve you safely and responsibly.
Your health and safety and that of our team members is important to us. We have put new proactive, precautionary measures in place with a view to help keep everyone safer and help flatten the spread curve of COVID-19. To lighten foot traffic and minimize exposure to you and our team, we are closing select banking centres in some locations, along with reducing hours of operation at all of our remaining centres. A complete list of locations that remain open can be found here.
We want to thank our team for continuing to provide excellent service and advice to our clients during these unprecedented times. While they take care of our clients, we are taking care of them by ensuring that any employee affected by these temporary service modifications will continue to receive full pay.
Should you need to visit a banking centre, please go to CIBC.com for the nearest locations and updated hours available to you. We are taking extra steps daily to clean and disinfect surfaces in our locations, provide alcohol-based hand sanitizers, and follow protocols recommended by public health agencies to keep you and our team members safe. Of course, if you’re feeling unwell, we ask that you stay home and instead give us a call, visit us online, or use our mobile app.
Connect with us in any way that suits you best
Use our online and mobile banking platforms, and Telephone Banking 24/7. Our virtual presence will provide you with secure, convenient ways to manage your money at a time and place of your choosing. You can remotely check your accounts, transfer funds, pay bills, monitor and manage your investments, and send money in Canada, and globally with Global Money Transfer.
Our ATMs remain available 24/7 to access your funds and conduct transactions at any time.
You can find more information related to banking with CIBC during this challenging time on our COVID‑19 site, including answers to questions about your travel coverage and how your current or future plans may be affected.