CIBC (TSX: CM) (NYSE: CM) clients can now replace a lost or stolen credit card in a few simple steps through mobile or online banking and instantly use the new card with their mobile wallet before the physical card arrives.
"CIBC is proud to be the first of the big five banks in Canada to offer clients the ability to replace a lost or stolen credit card through online and mobile banking, giving clients peace of mind and minimizing the disruption that comes from having to wait for a replacement card to arrive by mail," said Lynne Kilpatrick, Head, CIBC Card Products.
Features of the new service include:
• A simpler, seamless process - requesting a replacement credit card and activating it no longer requires a phone conversation, making it easier for clients to bank on the go
• More convenience and peace of mind - your lost credit card is deactivated right away and a replacement card is ordered immediately
• Replacement card instantly ready to use on mobile - for clients already using our cards in a mobile wallet (Apple Pay, Google Pay or Samsung Pay), the replacement card is uploaded automatically and ready for use instantly, leaving no need to wait for a physical card to arrive
• Less set up time with Apple Pay and app integration - for clients that don't have Apple Pay set up, the replacement card can be added to Apple Pay directly from the CIBC Mobile App the following business day, letting you make purchases before your physical card arrives
The ability to replace a lost or stolen credit card on mobile and online follows other recent digital enhancements including the ability to lock and unlock credit cards as well as real-time notifications when a credit card transaction is made, and the ability to instantly activate or replace a damaged card online or through mobile banking.
"In today's digital world, CIBC is constantly innovating to deliver experiences that our clients need and increasingly expect," adds Ms. Kilpatrick.