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 120 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. As an added bonus, you receive $50 credit on your first Global Money Transfer†. Find out more.
How much money can you send?
For most countries, you can send up to $30,000 CA per transaction when you pay with your bank account or line of credit.
If you pay using your credit card, you can send up to $5,000 CA per transaction or up to your credit limit if it's under $5,000 in a 24-hour period.
The person receiving your CIBC Global Money Transfer will usually receive it in his or her local currency. It is normally 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”