Personal Finance

What's the procedure to change branches?

  • Last Updated:
  • Jun 22nd, 2018 8:22 pm
Deal Addict
Sep 20, 2008
1006 posts

What's the procedure to change branches?

I have power of attorney for my ill father. His current home CIBC branch is incredibly far to get to. What is the procedure to change branch locations? Is there a service charge? Any tips or advice would be appreciated.
23 replies
Deal Addict
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Dec 27, 2013
1650 posts
Did you try talking to somebody at the branch that you want to change to? The process may be simpler than you think....
Sr. Member
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Feb 25, 2015
959 posts
York Region
I've done this about 5 years ago. I just went to the new branch to ask some questions on transferring branches and they handled everything in the spot.
Deal Fanatic
Jul 1, 2007
8068 posts
If CIBC is anything like TD, you simply go to whichever branch you want to deal at. Doesn't matter where the original accounts were opened. This is the age when information flows seamlessly over networks, though I do realize some of the major banks haven't got on board yet.
Money Smarts Blog wrote:
Nov 29th, 2010 11:18 am
I agree with the previous posters, especially Thalo. {And} Thalo's advice is spot on.
Sr. Member
Mar 3, 2015
698 posts
Scarborough, ON
Call them.

I think they will transfer or have to open new accounts similar.
Sr. Member
Apr 23, 2017
663 posts
When I moved across town I went to the local branch of my bank and asked to move my accounts from the corner branch near my previous house to this branch near my new house. Teller didn't know what to do about the request. Head teller came over and said that the bank doesn't really think in terms of branches being independent entities serving only their local area customers anymore, and that there was no reason to move accounts to this branch from my old one.

I said "but I don't want to have to drive across town to the old branch now" and he said that I can do all my banking at this branch and never have to go to the old branch again and the bank is fine with that. In the early 1980s it mattered which branch you were with (limits on what one could do at other branches than one's home branch, withdrawn limits, etc.), but now it does not mater as the bank's internal rules have changed. He said the only reason I would ever have to visit my old branch was in the event of fraudsters skimming my ATM card - in that instance one has to meet with staff at home branch to sign papers. His recommendation was leave my accounts at the old branch and just do all my in-branch banking at the new one. Since I do most of my banking online anyway, I said okay. Never been back to my old branch since then.
Deal Addict
Feb 25, 2007
2167 posts
i haven't dealt with home branch since forever, when I moved I told my banks and they are say doesn't matter, i even open new accounts with other branches, honestly doesn't matter at all, you just have to remember not to mess up the branch info when doing direct deposit
Deal Addict
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Jan 4, 2011
1403 posts
My RBC home branch is even in a different province, hundreds of miles away. Never had any issues with banking at a branch near me in the past 20 years.
Deal Addict
Apr 5, 2016
2943 posts
Yah normally it doesn't matter which branch you go to, they all should have access. However, you may run into issues if your father passes away and they may have rules where estate accounts need to be opened at home branch. It shouldn't be a big deal though as they can also communicate through internal mail and just send correspondence between the branches.
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Deal Addict
Sep 20, 2008
1006 posts
Thanks for all the comments. I recall a few years ago TD was giving me a hard time moving home branches. Said I had to withdrawal all my money and physically bring it to the other bank. I stood there like "are you serious? or do you really not know and you're feeding me a BS line?" But after reading everyone's comments I feel a little better moving my father's home branch to somewhere closer to him.
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Jan 27, 2004
39678 posts
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The bank I work @ doesn't classify home branches anymore.
Theres only some very obscure functions that require a home branch. And even in those cases.. .you can simply just go to whatever branch is closest to you, and the bank employee can co-ordinate with the home branch to complete the request.
Deal Addict
Jan 18, 2003
4819 posts
The issue i found with moving branches....

if you have an old grandfathered account.... you wouldn't be able to keep it...

you would need to open a current account that is available...

so i say don't bother...
Deal Addict
Mar 21, 2010
4166 posts
I think many people (like me) have their "home branch" still in the town they went to college/university/first job etc. in, and haven't lived there for years, and will probably never live there again.
Deal Addict
Jul 24, 2003
1530 posts
the only time i needed to go to my home branch is for them to certify a cheque. Since cheque numbers has routing that points specifically to your home branch, only the home branch can certify them.

aside from that, i'm not sure if home branch means anything else in the technology age.
Deal Addict
Jan 10, 2017
1008 posts
The only thing that the bank ever needs to be changed is the address in which the bank keeps, this determines where to mail your info. Modern accounts are no longer tied to branches as there is no paper trail to follow at a branch, it would have been scanned and uploaded to your account. Banks treat branches like wireless cell stores, they have physical employees to help you out, they have phone customer service who has the same powers as a teller, anything requiring physical location just needs you to be at a branch to sign or verify.
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