The Globe and Mail reported a story January 27 (CIBC glitch results in tax mix-up) about another "glitch" at CIBC resulting in the feds erroneously being notified that 3000 customers cashed in their RSPs. You would have thought they were double-checking everything after the fax fiasco. Pretty soon people will be attaching negative adjectives like "error prone", and that can't be good.
A technological blunder at Canadian Imperial Bank of Commerce resulted in headaches for more than 3,000 of its President's Choice Financial Customers, after the bank erroneously sent information to the federal government suggesting they had cashed out part of their retirement savings plans. The mix-up prompted the Canadian Customs and Revenue Agency to begin sending out tax reassessment notices to these customers in the mail. CIBC, which was recently engulfed in a fax snafu involving confidential client information, apologized for what a spokesman described as an "unfortunate incident," and said the problem is being fixed. The federal tax authorities will begin contacting each of these 3,061 PC Financial clients today, and hopes to resolve the issue by the end of next week. CIBC said the error occurred when it switched from a paper-based information delivery system to an automated process.
However, what counts in customer experience is not the glitch, it's the recovery.