Thursday, November 7, 2013

CIBC and Interac. Yet another surprise.

Those who have been following my farce at CIBC where Interac had to finally get involved to shed light on what happened at CIBC, won't be surprised to learn that today the icing on this cake arrived.

When after CIBC messed up, I was advise by Interac that rather than pay CIBC to cancel the Interac transactions, just let it expire for free. During this same conversation I also learned that Interac didn't actually have my money either, as CIBC was holding it all along - making the whole cause of this issue inexcusable, as it becomes an almost entirely internal issue at CIBC which can't be blamed on a foul-up interfacing with any third party.  The interface that failed was entirely within CIBC itself.

Fast forward two weeks.
Today, I was doing some online banking and noticed that CIBC had not put my money back in my account.  The date of expiry had passed, I looked in the CIBC interac section and found an online notice saying that the remaining Interac transaction (that shouldn't have existed according to CIBC themselves) had finally expired.  


Now, I made the chronic mistake of not taking a screenshot of what the bank was saying this morning, but there's no indication of where the money now was. Sadly, the message changed after reclaiming it, so I have lost the proof of that one.

Long story short:  They don't advise you of this in the expiry message, but you have to go and claim your money back (from the Bank, not Interac) as the bank is quite happy to hold on to your money that they took and have told you wasn't sent (oh the repeating irony).  
This is just plain sneaky, and only adds to my understanding that CIBC is being as transparent as a pint of Guinness when it comes to this whole affair.  

The conclusion

As of today, the CIBC twitter team still hasn't answered or acknowledged the request for customer service to address the problem.  It's been three weeks since they dropped the ball.  Whilst Interac was going to look into escalating why CIBC was putting out false information, that has left a dangling end, too.  

Having said all this, my poking and prodding to work out where the operational wheels fell off this cart has meant that I have a pretty solid understanding of what happened at this point.  Whilst it's all branded as Interac instead of CIBC, it looks like Interac's operational involvement in this farce was minimal and the technological foul-up happened solely within CIBC, and was then compounded by lack of clarity, dependability, further technology failures, abandoning all commitment to customer service, lack of communication and so the list goes on.

Whilst I'm usually very happy to fight small issues in public so that other people are aware of the everyday practices that can affect the average person on the street, this tale has aggravated me enough that having exhausted the usual "proper resolution channels", I'm going to sound the alarm higher within CIBC to stop this ever happening again.  

CIBC needs to drop anchor and do an internal post-mortem on this.  To that end, a dossier that I'm compiling now will be passed to CIBC and Interac in the coming days.