Sending money to someone in another country is easy
Do you want to send money to someone in your home country? Are you doing business with an international company? Do you need to pay college fees for a child who is studying abroad? Whatever the reason, if you need to transfer money internationally, CIBC can help you get the best exchange rate.
If you have a CIBC bank account, you can use a CIBC Global Money Transfer™ to send money to people in more than 80 countries. You can do this online, at a CIBC branch, or through the CIBC Mobile Banking App on your smartphone or tablet.
You will not have to pay a fee for this service(1). However, the person receiving the money should ask their bank if they will have to pay a fee to receive the money.
As an added bonus, if you refer a friend to CIBC Global Money Transfer, you both will get a $25 credit when they make their make their first transfer(2). For the referral link, sign on to CIBC Online Banking and go to the Global Money Transfer page.
If you want foreign cash, we can help with that, too. Find out more.
How much money can you send?
The smallest amount of money you can send at one time is $100 CAD.
The most you can send to most countries at one time is $15,000 CAD. You can send this amount through CIBC Online Banking, CIBC Mobile Banking and through CIBC Banking Centres.
The most you can send in 24 hours is $15,000 CAD.
Here are some exceptions:
- You can send a maximum of $6,000 CAD at a time
- You can send a maximum of $15,000.00 CAD in a 24-hour period
- Note: The Government of the People's Republic of China enforces additional limits. A recipient in mainland China can receive a maximum amount of $10,000 USD daily and $50,000 USD yearly from any source.
- You can send a maximum of $5,000 CAD at a time
- You can send a maximum of $15,000 CAD in a 24-hour period
The person receiving your CIBC Global Money Transfer will usually receive it in his or her local currency. It will be delivered in 1 to 3 business days.
How does CIBC Global Money Transfer work?
1) Sign on to CIBC Online Banking or open the CIBC Mobile Banking App on your smartphone or tablet
2) Select “Global Money Transfer” from the menu
3) Enter the banking information of the person who is receiving the money
4) Enter the amount of money you want to send, then select “Submit”