How to Stop Pre-Authorized Payments at CIBC
Managing your finances effectively is crucial, especially when it comes to controlling automatic payments. If you have pre-authorized payments set up with CIBC and want to stop them, there are several steps you can follow to ensure the process is smooth and secure. This article will guide you through the process of how to stop pre-authorized payments at CIBC, providing you with a clear and concise overview.
1. Log in to Your Online Banking Account
The first step in stopping pre-authorized payments is to access your online banking account with CIBC. This is the most convenient and secure way to manage your payments. To log in, visit the CIBC website and enter your username and password.
2. Navigate to the Payments Section
Once you are logged in, look for the ‘Payments’ section on your online banking dashboard. This section will contain all the information related to your payments, including pre-authorized transactions.
3. Locate the Pre-Authorized Payment
Within the payments section, you will find a list of all your pre-authorized payments. Scroll through the list to locate the specific payment you want to stop. Each payment will have details such as the payee name, payment amount, and frequency.
4. Cancel the Pre-Authorized Payment
To cancel the pre-authorized payment, click on the payment you wish to stop. This will open a new window with options to manage the payment. Look for the ‘Cancel’ or ‘Stop Payment’ button and click on it. Confirm the cancellation by following the on-screen instructions.
5. Contact CIBC Customer Service
If you are unable to cancel the pre-authorized payment through your online banking account, you can contact CIBC customer service for assistance. Call the customer service number provided on your CIBC statement or visit a branch in person. Be prepared to provide your account details and the specific payment you want to cancel.
6. Monitor Your Account
After canceling the pre-authorized payment, keep an eye on your account to ensure the payment does not go through. If you notice any discrepancies or unauthorized transactions, report them to CIBC immediately.
7. Set Up New Payment Methods
If you have other pre-authorized payments set up, it’s a good idea to review them regularly and make any necessary changes. Set up new payment methods or update existing ones to ensure your finances stay organized and secure.
In conclusion, stopping pre-authorized payments at CIBC is a straightforward process that can be done through your online banking account or by contacting customer service. By following these steps, you can take control of your finances and ensure that your payments are managed according to your preferences.
