CIBC Bank Agility CD Application Questions

eneldar | Jan 7, 2024 | 39 posts since 2022

Do any of my fellow DA users find it offensive when a bank asks for your annual income, estimated net worth and source of income during an application for a CD ? I began an application for CIBC Bank's 12-month Agility CD, 5.66% APY today, but didn't proceed when these questions appeared. I find it intrusive, not to mention irrelevant, to ask these questions when I'm trying to deposit money in a bank, not apply for a loan.

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planxy | Jan 7, 2024 | 140 posts since 2013

The unnecessary invasive information will be used in cross-selling your other banking services and/or sold to other entities for their marketing. Might be limited if you sign a privacy nondisclosure line somewhere on a form but still out of line.

Sperry8 | Jan 17, 2024 | 274 posts since 2011

I could care less... and if I did care, I'd lie (since the answers won't affect CD opening anyway). I surely wouldn't drop out of the process due to it if the CD rate was excellent. You want to know what I do find annoying, Popular Direct doing a hard pull when I'm trying to open a CD!

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