Client Portal
+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
  • Search

Search results

  1. E

    Refund of CIBC GIC deducted more than 400 dollars

    I did as I said in my post. I'm gonna assume you think there's nothing wrong with a 53-58 spread, without informing the source of the exchange rate.
  2. E

    Refund of CIBC GIC deducted more than 400 dollars

    I'm not sure if you're joking right now. Look at my original post, in CAD I got back 9484 CAD which is clearly more than 5% in CAD. What's noticeably wrong with that is I wasn't informed about this spread which is never a win-win if you refund. I'm sorry I was talking in USD for the last replies.
  3. E

    Refund of CIBC GIC deducted more than 400 dollars

    I bought at 56.90925 4 months ago. Now the rate is 58.541154. So the selling rate is 53.90925 now which is huge as of now. It's not like I was getting interest on it, so it's a loss in 4 months. That's the 5% I was talking about.
  4. E

    Refund of CIBC GIC deducted more than 400 dollars

    Oh I'm sorry, I was overthinking, but 5 rupee spread is still huge. I lost 27,000 rupees overall anyway, so it's irrelevant that I said 5$ difference. It still translates to around 400$ dollars loss.
  5. E

    Refund of CIBC GIC deducted more than 400 dollars

    Nope 53.890925 CAD - 58.541154 CAD difference at the time of refund.
  6. E

    Refund of CIBC GIC deducted more than 400 dollars

    5-6 dollar difference? Like I said, even if it's a retail bank, it took half my family's monthly income without informing me upfront about the spread.
  7. E

    Refund of CIBC GIC deducted more than 400 dollars

    4 months. Bought fro 56$, refunded at 53$(while the buying rate at the time of refund was 59$)
  8. E

    Refund of CIBC GIC deducted more than 400 dollars

    A spread of 5 dollars in buying-selling rates is still a lot.
  9. E

    Refund of CIBC GIC deducted more than 400 dollars

    I wasn't informed by them. I paid a local currency(INR) branch in my country in CIBC's name. It was 56.45571 when I applied from this portal https://isbo.cibc.com/#/payment No idea what happens behind the scene with the money, they just applied a refund exchange rate of 53.890925 and stole...
  10. E

    Refund of CIBC GIC deducted more than 400 dollars

    Yep, Idk what to do, that's like half of my family's monthly income :(
  11. E

    Refund of CIBC GIC deducted more than 400 dollars

    Idk they say their exchange rate is 53.890925 for a refund on the portal, and they won't even tell me which portal. I paid in 56.45571. I've no idea why such a spread exists without making their clients aware of it.
  12. E

    Refund of CIBC GIC deducted more than 400 dollars

    Where? It's definitely not from https://isbo.cibc.com/#/payment
  13. E

    Refund of CIBC GIC deducted more than 400 dollars

    Nope, I don't think GIC refunds got any other charges than 20$ processing fee. Also, I withdrew after 4 months.
  14. E

    Refund of CIBC GIC deducted more than 400 dollars

    So, I've canceled my GIC from India amid the pandemic and asked for a refund. It was approved and they sent me about 400 Canadian dollars less than what the gic was worth. So like they sent me 9484 CAD instead of 9980 CAD. What do I do? When I asked them before initiating a refund, the...