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President's Choice Financial services are provided by the direct banking division of CIBC.

President's Choice Financial MasterCard is provided by President's Choice Bank.

The PC points loyalty program is provided by President's Choice Services Inc.

personal banking

• some basic terminology
• your agreement with the provider of President's Choice Financial services
• your credit information
• your accounts and your dealings with us
• your instructions to us
• protecting your card, PIN and password
• losses from your account
• your transactions
• your joint accounts
• general terms
• overdraft protection on your bank account
• costs for special requests and additional items
• terms and conditions specific to wire transfers
• PC points
• your rights with regards to privacy and being treated fairly
• voluntary codes of conduct and public commitments
• how to resolve concerns with President's Choice Financial services
• trademark information

some basic terminology

• "You" and "your" mean the President's Choice Financial^® services customer.
• "We", "us" and "our" mean Canadian Imperial Bank of Commerce, and any member of the CIBC group of companies that provides you with a President’s Choice Financial product or service.
• "CIBC" means Canadian Imperial Bank of Commerce.
• "CIBC group of companies" means CIBC and its affiliated companies.
• "Account" means all or any of your President’s Choice Financial accounts provided by the direct banking division of CIBC (including but not limited to the bank account, borrowing account, savings account, TFSA or RRSP).
• "Bank account" refers specifically to your President's Choice Financial bank account (including the no fee bank account).
• "Borrowing account" refers specifically to your President's Choice Financial line of credit (also known as the low-cost borrowing account).
• "Savings account" refers to your President's Choice Financial savings account (including the Interest First™ and Interest Plus™ savings accounts).
• "TFSA" refers to your President's Choice Financial Tax-Free Savings Account (including the Tax-free Interest Plus savings account).
• "RRSP" refers to your President's Choice Financial registered retirement savings plan (such as the Interest Plus™ RRSP, The World’s Best™ RRSP or the must-have RRSP GIC).
• "PIN" means your personal identification number for bank machines and Interac ^® Direct Payment.
• "Password" means any password you use to identify yourself as a President's Choice Financial services customer, including your memorable information and your passwords for telephone and online banking.
• "Bank machines" refer to automated banking machines.
• "NSF" means not sufficient funds.
• "Card" means your President's Choice Financial services bank card and any replacement cards.
• "Online banking" means access to President’s Choice Financial services through the President's Choice Financial web site at: www.pcfinancial.ca.
• "Prime" means the interest rate declared by CIBC to be its prime rate for Canadian dollar loans in Canada.
• "Bank-to-bank transfers" refers to debiting or crediting your President's Choice Financial account(s) using an account you have at another Financial Institution.
• The branch of account address for your accounts is:
        305 Milner Avenue, 5th floor
        Scarborough, ON M1B 3V4.

your agreement with the provider of President's Choice Financial services

• President's Choice Financial services are provided by the direct banking division of CIBC (President's Choice Financial MasterCard is provided by President's Choice Bank).
• The information you give CIBC will be used to establish and maintain a relationship with you, and offer you any products or services related to President's Choice Financial and permitted by law. This information will also be transmitted to the appropriate member of the CIBC group of companies and other companies to provide you with President's Choice Financial products and services, and/or to enroll you in the PC ^® points program. (See the section of this booklet on "your rights with regards to privacy and being treated fairly" for details.)
• These terms and conditions apply to all President's Choice Financial products and services provided by us that you have now and in the future.
• If you obtain another President's Choice Financial product or service in the future and it has additional terms, they will be sent to you. Your use of that product or service will show you received the additional terms and agree to be bound by them as well. If any additional term conflicts with a provision in these terms and conditions, the additional term will apply.
• You agree that your account will only be used for personal purposes.

your credit information

You may have agreed to let us obtain your credit report information so that your application could be assessed. We receive reports from Equifax Canada Inc.
      Equifax Canada Inc., Consumer Relations,
      P.O. Box 190, STN Jean Talon,
      Anjou, QC H1S 2Z2
      phone: 1-800-465-7166

If you agreed to let us obtain credit report information about you:

• To maintain our relationship with you and enable us to offer you other products and services in the future, you agree to let us, from time to time, obtain credit and other information about you from various sources including credit reporting agencies; and
• You also authorize us to give any credit or other information about you to credit reporting agencies and similar agencies and people with whom you have or propose to have financial dealings.

your accounts and your dealings with us

We will provide you with access to electronic account statements or send you paper account statements regularly as specified in the product features of each account. You agree to review each account statement regularly (at least once every 30 days) and your savings account transactions at least once every 90 days. Please note that electronic statements will not be sent to you, so you agree to access and review your account activity through online banking, telephone banking or President's Choice Financial and CIBC bank machines.

You will write, phone or contact us via online banking within 90 days of any savings account transaction date (or the date the transaction should have occurred) and within 30 days after the statement date for any other account if you believe the statement or transaction history is wrong. If you don't contact us, then with the exception of incorrect credits made by us to your account:

• all entries and balances will be taken as correct;
• all cheques and other items will be assumed authorized and properly signed;
• all debits to your bank account, savings account, TFSA or RRSP and all credits to your borrowing account will be taken as correct;
• you will not be entitled to any amount not shown on the statement or transaction history;
• we are released from all claims regarding your account(s), including claims for negligence but not gross negligence or willful misconduct.

In the case of gross negligence or willful misconduct, our liability will be no greater than the amount of the item or the direct damages you have suffered. We are not liable for any indirect, special or consequential damages.

You may not be held responsible for cheques that you signed and which have forged or unauthorized endorsements but only if you notify us within 30 days after you learn about the problem and you prove to our satisfaction that you took all reasonable steps to prevent the situation.

You agree to accept these terms and conditions even if a statement is delayed or never received for any reason, such as if it is lost in transmission, if there is a postal strike, or if you do not review your statement regularly.

your instructions to us

• Alternatives to writing: Your instructions given to us by phone, online banking or other electronic means will be treated as if they were written and signed instructions.
• Fax: We will accept signed instructions from, or purporting to be from, you by fax and you are legally responsible for them just as if they were original documents. We are only considered to have received fax instructions when they are brought to the attention of the bank representative to whom they are addressed.
• Our ability to act on phone or fax instructions depends on the normal functioning of communication facilities. We are not responsible for any delay or failure to receive phone or fax instructions/information
• You acknowledge that we may choose to record some or all of your telephone calls to us.
• When your Password or PIN is used together with your Card or Card number, you are deemed to have authorized the transaction and you are responsible for it.
• We may deal with your legal representative (for example power of attorney) while you are alive. We have the right to require your legal representative to prove to our satisfaction, which may include requiring court documents, the legal authority to act as your legal representative generally and for any particular transaction and to refuse to deal with your legal representative without such proof.

protecting your card, PIN and password

• Your President's Choice Financial card allows you to access your accounts as specified by the product features of each account; by bank machine, Interac Direct Payment, phone, and online banking. You agree that you will not let anyone else use your card.
• In order to keep all dealings confidential, you will not disclose your PIN or password to anyone else. You should be aware that communication by cellular phone or other non-secure methods may be intercepted. We can't guarantee confidentiality if you choose to communicate to us by these means.
• You will memorize your PIN and password and not record them anywhere. If you think someone else may know your PIN and/or password, you will change it and notify us immediately.
• If your President's Choice Financial card is lost or stolen, call 1-888-723-8881 or visit an in-store pavilion right away and we will cancel and replace your card. A charge for a replacement card may apply.
• When choosing a PIN and a password, you must not use the same for both. Also, do not use all or any part of: a password or other code you use for any other service; your name, or a close relative's; your birth date, telephone number or address, or a close relative's; a card or account number; or any other word or number which can be easily obtained or guessed by someone else.
• You will take other precautionary measures to protect your account, including always shielding your transactions from the view of others, and ensuring your President's Choice Financial services card is returned to you after each transaction.

losses from your account

If losses occur by bank machine or Interac Direct Payment
You will be responsible for all losses if:

• you authorize anyone else to use your card, PIN or password;
• you make an entry error at a bank machine or Interac Direct Payment terminal;
• you make fraudulent or worthless transactions;
• you unintentionally contribute to someone else's use of your card, PIN or password and you do not fully co-operate in an investigation.

You will not be responsible for losses which are beyond your control or, in other words if there was nothing you could have done to prevent loss.

This includes:

• losses due to technical problems, system malfunctions or our errors;
• losses which occur after your card has been cancelled, or after you have notified us that your card was lost or stolen or notified us that someone else knows or may know your PIN or password;
• losses which occur when you unintentionally contribute to someone else's use of your card, PIN or password. However, for this to apply, what you did (or did not do) must have been beyond your control and you must co-operate fully in the investigation.

You will be responsible for losses, if you contribute to someone else using your card, PIN or password, but only up to your daily bank machine withdrawal and Interac Direct Payment purchase limits (your daily withdrawal limit is in Canadian dollars for all countries, with the exception of the US where your limits are expressed in US dollars). Examples of how you would contribute to someone else's use include (but aren't limited to):

• disclosing your PIN or password to someone without actually authorizing them to use it to access your account;
• not notifying us within a reasonable time after your card is lost or stolen or you realize that someone else may be using your card or may know your PIN or password;
• by recording your PIN or password anywhere;
• forgetting to remove your card or money from the bank machine;
• choosing a PIN or password which does not comply with these terms and conditions. (See the section on "protecting your card, PIN and password" for details).

if losses occur by telephone or online banking
You will be responsible for all losses regardless of whether or not you authorize someone else to access your account by these means. You will not be responsible for losses which occur after you advise us that:

• an unauthorized person may be using your card;
• your card has been lost or stolen;
• due to circumstances beyond your control, someone else knows or may know your password.

Under this Section, losses from your account may not be limited to your account balance if the account has overdraft protection or a credit limit. You may be liable for the entire amount borrowed, plus interest and charges. Similarly, if you are held responsible for transactions such as fraudulent or worthless deposits, your liability will include (but not be limited to)the amount of the transaction.

your transactions

bank machine or Interac Direct Payment purchase transaction disputes

• Call 1-888-723-8881 if you wish to dispute a transaction. If at that time it cannot be resolved to your satisfaction, it will be referred to a more senior level within the organization. During the dispute, your funds will not be unreasonably restricted.

your disputes with merchants

• You agree to settle any disputes or claims that arise directly with the merchant. We have no responsibility for merchant problems or disputes.

your transaction limits

• You agree to allow us to set and change with or without notice to you, daily limits on bank machines, Interac Direct Payment, phone or banking transactions.

effective time for transactions

• Transactions you do on a non-business day, or after the cut-off time on a business day, will be reflected in your account as having been done on the next business day. We call Saturdays, Sundays and national holidays non-business days.

your foreign currency transactions

• For foreign currency withdrawals through bank machines outside Canada, a converted Canadian dollar amount will be posted to your account based on the same conversion rate CIBC is required to pay on the date of conversion, plus an administrative fee. You acknowledge that currency conversion may not happen on the date of your withdrawal. The amount of the administrative fee and other applicable fees are indicated in the "special requests and additional charges" section of this booklet.
• We may, in our discretion, permit foreign currency transactions on your account. The foreign currency will be converted to Canadian dollars at CIBC’s foreign exchange rate, and on a date that may be different from the actual transaction date. A foreign currency item deposited to your account and returned unpaid for any reason will be converted to Canadian dollars at a foreign currency exchange sell rate, and on the date, determined by CIBC, and the Canadian dollar equivalent amount will be charged back to your account.
• Extended holds, on the Canadian dollar equivalent amount will be placed on all foreign currency deposits (cheques and cash).
• Your daily withdrawal limit is in Canadian dollars for all countries, with the exception of the US where your limits are expressed in US dollars.

responsibility for errors or service interruptions

• Our errors: We will be responsible for only the amount of any error we make and nothing else. If you benefit from our error, you will be responsible for the difference between the error and the correct amount; you will not claim for any losses, including lost profit, lost business or any other consequence.
• Service interruptions: We may cancel or change any of our services and your ability to access them at any time, without notice to you. We will not be responsible for any inconvenience or loss, which may result. Although we do not expect any service interruptions or other communication malfunctions, we are not responsible for any loss of any kind you may experience as a result, unless we are grossly negligent (in which event we will be liable only for the item or the direct damages you have suffered; we will not be liable for any indirect, special or consequential damages).
• Your errors: We are not responsible for any errors that you make during a transaction, including when installing/downloading software for online banking access.

your joint accounts

If you hold an account or any other service jointly with another person, these terms apply:

• "You" and "your" mean each person who holds your account.
• Each of you must agree to the terms of our standard joint account agreement.
• For each jointly held account or other service, you are individually and jointly responsible for any and all outstanding unpaid amounts on your account. This means that we will be entitled to recover from either one of you (or if one of you dies, from your estate) the full amount outstanding.
• Each of you can make transactions without the signature or consent of the other(s), and in most cases, we will complete all transactions based on one authorized signature.
  
  You agree that requested paper account statements and other correspondence for each jointly held bank or savings account, and notices and other correspondence for jointly held borrowing accounts, shall be sent to the person designated as the primary account holder.
• Upon the death of a joint bank account holder, the balance of the bank account belongs to the survivor(s). To make this effective, you hereby assign the balance of any jointly held bank account to the surviving account holder(s) in the event of your death. After your death, in the event your estate representative or anyone other than the survivor(s) (any and all referred to as your estate) has or makes a claim against the assets in the joint account, we will have no obligation to your estate and your estate must deal with the survivor(s). This provision will not apply if any one of the account holders is domiciled in Quebec at the time of their death.

general terms

your notices and statements

• If applicable, we will send paper statements and any notices by regular mail to the most current address you have given us. Five days after they have been sent, you will be assumed to have received them.
• Each statement for your bank account and your borrowing account will be dated as of the last business day of the month. and provided electronically or by mail each month, unless (in the case of a borrowing account) there is no balance and no account activity in the month. Any items not processed by the time the statement is printed will be reflected on the next scheduled statement. All other account statements, if applicable,will be provided as specified in the product features.
• Notices for jointly held accounts will only be sent to the primary account holder.
  
  Please note that electronic statements will not be sent to you. You must access and review your account activity regularly through online banking, telephone banking or President's Choice Financial and CIBC bank machines.

your records

• Your information, including tape-recorded or electronic records and communications, may be recorded and stored on any media and in a format that we consider appropriate. These records, along with any bank machine transaction records, will be binding, conclusive, and admissible in any legal proceedings as the best evidence.

processing and verifying transactions and our hold funds policy

• A transaction may not be accepted until we have taken such steps as we deem necessary to verify its details and authenticity.
• A hold may be placed on your account for the total amount of any deposits as follows:
  • for Canadian dollar deposits, up to 7 business days;
  • for US dollar cheques drawn on Canadian or US banks up to 30 business days;
  • for cheques in currencies other than Canadian or US dollars drawn on a Canadian or US bank for up to 30 business days;
  • for cheques in other currencies drawn on foreign banks for which we have an exchange rate, up to 60 business days. Some foreign currency items may be required to be sent for collection to another financial institution. Funds will be deposited to your account only when received from the other financial institution.
• A hold may also be placed on your account for the total amount of bank-to-bank transfers for up to 7 business days.
  
  Despite these hold periods, you understand that we do not and cannot confirm when an item will clear, or whether an item has cleared. Items may be returned at any time and you are solely responsible for returned items.

your responsibility for unpaid items

• You are responsible for any deposits to your account if they are unpaid. We may charge these items back to your account and if necessary we may debit any of your other accounts without taking any further action.

NSF items (i.e. cheques, transfers, pre-authorized payments, post-dated bill payments)

• When there is not enough money in your account and you have not arranged the appropriate credit then the cheque or other item will be returned unpaid and a NSF charge will be applied to your account.

charges and right to offset

• You authorize us to review and, if required, debit your account(s) or any of your funds on deposit with us or any member of the CIBC group of companies, regardless of whether the account(s) or funds are held individually or jointly, with our charges (interest and non interest) or for any other money that is owed for your financial products or services. These charges may be changed from time to time and will be disclosed to you in accordance with applicable laws. You authorize us to review and debit your individual or joint account for any other money that is owed by you to us or any member of the CIBC group of companies.

lost or stolen cheques

• You agree to inform us immediately if any cheques are lost or stolen. If you do not, you will be responsible for any improper use of the cheques.

certified cheques

• We cannot certify cheques; however, you may obtain money orders, bank drafts and wire transfers instead.

approved cheques

• You agree to use only the types of cheques and drafts approved by us.

stop payments

• You can place a stop payment on any cheque or other pre-authorized payment order, if it has not already been paid, by giving us the required details and paying the charge as indicated in the "special requests and additional charges" section of this booklet.
• We will do our best to stop payment; however, the cheque/order must match exactly the details you have provided. If it does not, we are not responsible if the cheque/order is paid. If payment occurs for any other reason, we will reimburse you unless the cheque/order is paid for a legitimate debt.
• Your stop payment request will be logged into our system within a reasonable time after it has been received.

interest rates on your bank, savings, TFSA or RRSP account

• Interest rates are expressed annually and may vary from time to time. You acknowledge that, from time to time, we may change interest rates and how we calculate interest.
• Obtain current rates by calling 1-888-723-8881, connecting at www.pcfinancial.ca or by visiting an in-store pavilion.

changes to your interest rates and your credit limits

We will provide notice of changes to:

• interest rates on your bank, savings, TFSA or RRSP account and overdraft;
• how we calculate interest on bank, savings, TFSA or RRSP accounts and overdrafts;
• the credit limit on your overdraft protection or your borrowing account.

We may not provide prior notice of these changes.

changes to your terms and conditions

• We may change these terms and conditions, and we will send you a notice of the change(s) or otherwise advise you (such as by posting a notice at in-store pavilions or online) of the change(s).

If you continue to access your account(s) or any services, or if you maintain your account(s) after the change(s), that will show that you have agreed and consented to the change(s).

closing your bank, savings, TFSA or RRSP account

• We can close your account(s) at our discretion.
• If there are no deposits within 120 days of opening, or if there is no money in your bank account, savings account, TFSA or RRSP, and there are no transactions for four months, we have the option, where applicable, of closing your accounts.
• You are responsible for all transactions on your account(s), even if it has been closed.
• We have the right to require your legal representative to prove to our satisfaction, which may include requiring court documents, the legal authority to act as your legal representative.

in the event of your death

• Your legal representative needs to inform us as soon as possible of your death so that any balances can be transferred to your estate. If this does not happen, we are not responsible for any improper transaction that may occur.

governing law

• These terms and conditions are subject to the applicable laws of the Canadian province or territory that you have designated as your primary address of residence. The courts in that province/territory will have jurisdiction over all disputes between you and us.
• We have the right to comply with any third party demand (such as Requirements to Pay issued under federal or provincial legislation) or court order that we receive in respect of your accounts, including holding funds in those accounts to satisfy any demand or court order, regardless of the province or territory where such demand or court order is issued. You agree that we will not be liable to you in any way for complying with, or otherwise acting upon any third party demand or court order issued on your accounts.

moving out of Canada

If you move out of Canada, you agree:

• to pay us all that you owe us without any deductions for any taxes and withholdings that your new country may impose.
• to close all of your product holdings with us prior to moving.

bank branches

• Although CIBC provides President's Choice Financial services, you cannot access your President's Choice Financial accounts or other services through any CIBC branch.

overdraft protection on your bank account

using your overdraft protection

• You agree not to exceed the overdraft limit set for your bank account(s) If there is no overdraft limit on your bank account(s), we may, if we wish, allow your account to be overdrawn. We will have no obligation to process withdrawals (debits of any kind) that result in your bank account(s) being overdrawn, that exceed the overdraft limit, or that would further exceed the overdraft limit, even if we have done so in the past.
• You may be charged if we allow your bank account(s) to become overdrawn, or for the use of overdraft protection, based on your account activity and the final daily balance of the account.

interest on overdraft amounts

• Interest rate: You will be charged interest on any overdraft amounts at a fixed annual rate equal to the percentage rate we disclosed to you in your welcome kit or otherwise in writing. See the "special requests and additional charges" section of this booklet for details.
• How we calculate and charge interest: Interest is calculated on the final daily overdraft balance throughout the month and will be charged monthly to your bank account. Even in a leap year, interest is calculated by multiplying the overdraft balance by the overdraft interest rate, dividing the product by 365 and multiplying the result by the number of days in the month during which such interest rate was chargeable.

repayment of overdraft amounts

• You agree to bring your bank account in overdraft to a positive balance for at least one day each calendar month. If your bank account becomes overdrawn, or you exceed your overdraft limit, you must repay that excess amount immediately. We will apply deposits first to any overdraft or overlimit amounts on your bank account.
• You agree to pay immediately all amounts owing if and when we ask.
• We may at any time terminate your overdraft protection and refuse to process any further withdrawals, including those that you issued before we terminated your overdraft protection. The interest rate in effect at the date of termination will still apply after your overdraft protection is terminated and after any judgments that we obtain against you.

costs for special requests and additional items

• Beyond your day-to-day banking requirements, you may occasionally require special banking services. The cost of these special requests as well as any other additional charges are outlined below:

• Any additional charges relating to a specific product are disclosed separately.
• Please note that these special requests and additional charges may change from time to time. We will mail you a notice of the change at least 30 days before it is effective or otherwise advise you (such as posting a notice online) at least 60 days before a change becomes effective.

terms and conditions specific to wire transfers

terms with special meaning

• "Beneficiary" means the person you have identified as the recipient of your wire transfer.
• "Charges" means all charges that we incur in carrying out your instructions, and includes among other things all taxes (other than income taxes), duties and charges levied or collected by any correspondent.
• "Correspondent" means each person receiving or handling funds for us, and includes each person any correspondent engages to carry out your instructions.
• "Person" includes individuals, partnerships, companies and corporations.

general terms

• We will act as a principal, not as your agent, to transfer the funds you have requested to the beneficiary. We may at our own discretion use one or more correspondents and fund transfer systems, in accordance with applicable laws, to carry out your instructions.
• We will not be responsible for any delay, error or loss that may occur in connection with the transfer, including any delay, error or loss from or by any correspondent, unless these terms and conditions provide otherwise.
• We will not be responsible for any delay, error or loss which is beyond our control or, any error or inconsistency in the information that you provide relating to the requested transfer. Neither we nor any correspondent will be responsible for verifying the information you have provided. We, any correspondent, and the beneficiary's bank will rely on any account number you have provided even if the account is not in the beneficiary's name. If you instruct us to credit a specific account, you will confirm that you are authorized by the account holder(s) to credit that account.
• You will prepay the amount of your wire transfer instructions. You agree to pay any associated costs, whether or not the requested transfer can be completed. Unless you designate the transfer as "free and clear of all charges", then we and any correspondents will be authorized to deduct unpaid fees and charges before crediting the beneficiary.
• You will indemnify us and any correspondents for any claims or expenses made or incurred as a result of complying with your wire transfer instructions.
• If we or the correspondent are unable to credit the beneficiary in the funds of a specific currency that you requested in your instructions, you authorize us to make payment to the beneficiary in local currency, at the rate of exchange in effect at that time. You agree to accept any risk of currency fluctuation in that event.
• If we are unable to carry out your instructions within a reasonable time, we will refund to the amount you have prepaid, less any fees, charges or other unpaid amount, but only if and to the extent that we have in the meantime been reimbursed by any correspondent for funds forwarded by us.

PC^® points

As a provider of President's Choice Financial services, CIBC participates in the PC points program. The PC points program is operated by President's Choice Services Inc. or any of its affiliated entities as described in the President's Choice Financial privacy policy which governs the PC points loyalty program.

The PC points program may be amended from time to time. The terms and conditions of the PC points program, the privacy policy and the most current rewards chart is available in the PC points section at pcfinancial.ca . Further information may be attained by calling 1-866-PC-POINTS (1-866-727-6468).

your rights with regards to privacy and being treated fairly

As a provider of President's Choice Financial services, we are committed to satisfying the needs of Canadians by creating unprecedented value in banking and offering something better.

Open and straightforward communication is part of this commitment. That is why it's so important to make you aware of your rights as our customer.

your privacy rights

We take your privacy very seriously. We maintain a privacy policy and procedures that reinforce our commitment to you. A copy of the CIBC Privacy Policy is available by calling 1-888-723-8881 or visiting cibc.com. Below, we describe how we put this policy into practice for President's Choice Financial products and services so that you have control over how we collect, use and disclose your information.

why we need your personal information

We collect, use and disclose personal information about you throughout our relationship for a variety of reasons:

• to identify you, including verifying some of the information you give us with your employer or with other sources
• to protect you and us from error and fraud
• to understand your needs and eligibility for products and services
• to recommend particular products and services to meet your needs
• to provide ongoing service
• to comply with legal and regulatory requirements

We may review and analyze your applications, transactions and other personal information.

We obtain most of your personal information directly from you and through your use of products and services we provide. Some information may be obtained from other sources. We may do this to offer solutions that help meet your needs, and to develop new products and strategies to meet the needs of our customers. We may also do this to help us identify various types of risks such as credit, fraud and money laundering.

Providing certain information, such as driver's license, although convenient for identification, is voluntary. It is up to you whether you want to provide it or some other suitable identification, subject to any legal requirements.

confidentiality of your information

Your information and the business you do with us is kept in strict confidence. Only authorized personnel have access to your information. Our procedures and systems are designed to protect your information from error, loss and unauthorized access. We don't sell your information to third parties, and we only keep your information as long as it is needed. We monitor our compliance with applicable privacy legislation.

We collect, use and disclose personal information only for purposes that a reasonable person would consider appropriate in the circumstances.

Health information is required to confirm you are eligible for some insurance products offered by the CIBC group. We will not refuse you any product or service other than insurance, on the basis of such health information. We will not share your health information within the CIBC group, other than to administer the insurance product.

your consent to sharing information for the purposes of the PC points program

You consent to us sharing information about you and your President's Choice Financial products and services with President's Choice Services Inc., or any of its affiliated entities for the purposes of the PC points program.

This includes sharing information about you to enrol you in the PC points program, to calculate and provide information to you about PC points that you have earned, to understand your needs and recommend products and services and also for research purposes.

For further details about the PC points program, the ways that your PC points information may be used and how to opt out of receiving personalized secondary marketing under the PC points program, go to the PC points section at pcfinancial.ca and select the "privacy policy" and "legal stuff" links.

Enrolment of President's Choice Financial services customers in the PC points program is central to the business arrangement between us and President's Choice Bank and its affiliated entities. If you wish to withdraw your consent to share information for the PC points program, we will be unable to offer you President's Choice Financial products and services.

you can choose not to receive direct marketing

We want every President's Choice Financial services customer to be fully aware of new and existing products and services that will save you time and money, including special promotions that you may wish to take advantage of. From time to time, we may offer you these products and services by mail, telephone, e-mail or other means.

If you do not wish to receive this information, simply tell us through any one of the options listed under the "need to contact us?" section and we'll respect your preference. If you withdraw your consent to receive direct marketing, this will not limit information that we may provide to you through discussions with any of our associates, or information we may send you that is permitted or required by law or that is related to your existing products or services.

you can give – or withdraw – your consent

We get your express or implied consent before obtaining, using or disclosing information about you. There are exceptions, such as when we are required or permitted by law, or it is necessary for our protection. You can withdraw your consent whenever you want, unless legal requirements prevent this.

When you apply for certain products, we obtain your consent to exchange information about you with credit bureaus. In order to maintain the integrity of the credit reporting system, we may periodically update your information with credit bureaus as long as you have the product or service with us and for a period of time afterwards. Your consent to the exchange of information cannot be withdrawn during that time.

We are required by tax law to ask for your Social Insurance Number (SIN) when you open an account that earns income.

When we obtain a report and update your information with a credit bureau, your SIN is the best way to make sure that the information actually refers to you. Wrong information could lead us to draw wrong conclusions about you. You should be aware, though, that permitting us to use your SIN in this way is voluntary to you.

If you choose not to give us your SIN when its collection is optional, or tell us you do not want to use it for credit bureau purposes, this by itself will not prevent you from getting credit or any other service.

If you refuse or withdraw your consent to certain uses of information, we may not be able to provide you with a particular product or service. We'll explain the impact to you at the time to help you with your decision. For example, if you withdraw your consent to sharing for the purposes of the PC points program, we will be unable to provide you with President's Choice Financial products and services.

sharing your information within the CIBC group and with other people

We won't share information about you with our co-venturer, or within the CIBC group or release it to anyone else, without your express or implied consent. However, there are some exceptions to this rule. For example, we may collect, use or disclose information without your consent if we:

• use an affiliate or subsidiary of CIBC, or an outside company, to do work for us involving some of your information (for example: the printing of cheque books)
• must disclose information for legal and regulatory reasons
• have to protect our interests (for example: to manage credit and other business risks, to detect or prevent fraud, to collect on overdue accounts or realize on security for a loan)

reviewing and making corrections to your information

You can always review your personal information held by us and make corrections to it. Just call 1-888-723-8881 and we'll be pleased to assist you further.

If you require other information, we may ask you to put your access request in writing (usually, by completing a form) and that you provide us with the details to help us understand your request and conduct our search for your information. There may be a charge to provide access to your information; if so, we’ll advise you beforehand. We'll respond to your request within 30 days upon receiving all necessary information.

If we need to extend the time, or we have to refuse your request, we'll tell you why, subject to any legal restrictions. If you have a sensory disability, we'll give you access to your information in an alternative format that you request, if we have it in that format. Otherwise, we'll convert your information into the requested format, if it's reasonable and necessary under legislation to enable access.

voluntary codes of conduct and public commitments

As part of our commitment to protect you, our customer, we have adopted a number of “Voluntary Codes of Conduct and Public Commitments". These guidelines and commitments establish the standards you can expect when you do business with us.

• Cheque Holds
• Online Payments
• Canadian Code of Practice for Consumer Debit Card Services
• Code of Conduct for Authorized Insurance Activities
• Guidelines for Transfers of Registered Plans
• Plain Language Mortgage Documents
• Principles of Consumer Protection for Electronic Commerce
• Undertaking on Unsolicited Services

For more details on all of our voluntary codes, please go to cibc.com

need to contact us?

If you require any clarification about your rights to privacy or wish to exercise any of your rights above, please contact us by:

• calling 1-888-723-8881
• submitting an easy online feedback form
• writing to us at:
    President's Choice Financial services
    P.O. Box 603, Stn. Agincourt
    Scarborough, ON M1S 5K9
  

your right to being treated fairly and to having your concerns heard

We are committed to our customers and your feedback is very important in ensuring we are meeting your expectations and continuously improving your experience with us. If at any time you have any concerns please let us know right away.

We'll make every effort to resolve the issue within a time period that's agreeable to you.

how to resolve concerns with President's Choice Financial services

1. talk to us. We constantly strive for excellence in customer service, however, despite our best efforts, errors occasionally do occur. If you have a concern, please let us know right away by:
   • calling 1-888-723-8881 and discussing with one of our Personal Banking Representatives or Team Leaders
   • calling the following numbers for issues surrounding President's Choice Financial Mortgages: 1-888-276-3744 (before funding) or 1-888-866-0866 (after funding)
   • submitting an easy online feedback form
   • writing to us at:
       President's Choice Financial services
       P.O. Box 603, Stn. Agincourt
       Scarborough, ON M1S 5K9
     
2. contact our Customer Care Centre. If your concern is not resolved to your satisfaction by any of the above means, you can:
   • call us at 1-888-723-8881 and ask to be transferred or referred to a Customer Care Manager
   • write to the attention of our Customer Care Centre at the address indicated above
3. your right to an independent review. Assuming you have followed the complaint escalation steps outlined above and you remain unsatisfied with Customer Care's resolution, you can contact the CIBC Ombudsman. Then, if the matter falls within the CIBC Ombudsman’s mandate (www.cibc.com/ombudsman), and providing legal action has not been taken on the matter, the Ombudsman will conduct a further investigation. You can reach the CIBC Ombudsman by:
   • phone: 1-800-308-6859 or 416-861-3313 (Toronto area)
   • fax: 1-800-308-6861 or 416-980-3754 (Toronto area)
   • e-mail: ombudsman@cibc.com
   • mail:
       CIBC Ombudsman
       P.O. Box 342, Commerce Court
       Toronto, ON M5L 1G2
     
   
   If the above steps do not resolve your complaint, you may consider escalating the matter to Independent Consumer Support Agencies. There are a number of external agencies that monitor Canada’s financial industry to ensure compliance and reliable access to financial services.
   
   Ombudsman For Banking Services And Investments (OBSI)
   
   You can contact the OBSI who is independent from CIBC and whose purpose is to review your personal or business complaint when you do not accept the decision of the CIBC Ombudsman; or when 90 days have elapsed since escalating your concerns to our Customer Care Centre. Where appropriate, OBSI may seek the assistance of the firm’s internal complaint-resolution staff – including the internal bank ombudsman – to facilitate the earliest possible resolution of your complaint. You can reach the OBSI by:
   
   • phone: 1-888-451-4519
   • fax: 1-888-422-2865
   • e-mail: ombudsman@obsi.ca
   • web site: www.obsi.ca
   • mail:
       Ombudsman for Banking Services and Investments
       401 Bay Street
       Suite 1505, P.O. Box 5
       Toronto, ON
       M5H 2Y4
     

The Financial Consumer Agency Of Canada (FCAC)

You can also contact the FCAC. The FCAC supervises federally regulated financial institutions to ensure they comply with federal consumer protection laws. The FCAC also helps educate consumers and monitors voluntary codes of conduct and public commitments designed to protect the interests of consumers. Federal consumer protection laws affect you in a number of ways. For example, financial institutions must provide you with information about their charges, interest rates and complaint handling procedures. If you have a regulatory complaint or a complaint concerning a voluntary code of conduct, you can contact the FCAC by:

• phone: 1-866-461-3222
    1-866-461-2232, en français
• web site: www.fcac-acfc.gc.ca
• mail:
    Financial Consumer Agency of Canada
    6th Floor, Enterprise Building
    427 Laurier Ave. West
    Ottawa, ON
    K1R 1B9

The FCAC will determine whether the financial institution is in compliance. It will not, however resolve individual consumer complaints.

The Privacy Commissioner of Canada

If your concern involves a privacy issue you may contact the Office of the Privacy Commissioner of Canada by:

• phone: 1-800-282-1376 or 613-995-8210 (Ottawa area)
• fax: 613-947-6850
• web site: www.privcom.gc.ca

trademark information

^® American Express is a registered trademark of American Express Company. CIBC endorses the Canadian Code of Practice for Consumer Debit Card Services.
^® PC, President's Choice, President's Choice Financial and Fresh Financial Thinking are registered trademarks of Loblaws Inc.
™ The World's Best, Interest First and Interest Plus are trademarks of Loblaws Inc. CIBC is a licensee of the marks.
^® Interac is a registered trademark of Interac Inc. CIBC licensee of marks.
^® Netscape, Netscape Navigator, and the Netscape N logo are registered trademarks of Netscape Communications Corporation in the United States and other countries.
^® Microsoft Windows, and Microsoft Internet Explorer are registered trademarks of Microsoft Corporation in the United States and other countries.
President’s Choice Financial personal banking services are provided by the direct banking division of CIBC. President’s Choice Financial MasterCard is provided by President’s Choice Bank. The PC points loyalty program is provided by President's Choice Services Inc.

effective April 1, 2010

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† President's Choice Financial services are provided by the direct banking division of CIBC.

President's Choice Financial MasterCard is provided by President's Choice Bank.