cibc
Bank Wire Transfer
How much does CIBC Charge to send an international wire transfer?
A: The cost for wiring money transfers with CIBC Bank is reliant on the amount you are sending; for example:
- Any amount $10,000 or less = $30 service fee
- Between $10,000.01 and $50,000 = $50 service fee
- Any amount greater than $50,000 = $80 service fee
- The cost of wiring money increases as the amount being sent increases
If you are wiring a transfer to be received at another CIBC branch, there is a receiving fee of $15, regardless of the amount being sent. If you’re wiring a payment to a different bank, the receiving charges (if there are any) are dependent on their own policies, and you will need to call the bank or speak with them in person to figure out this information.
In order to send a wire transfer through CIBC Bank, you will need to provide them with the following information:
- Full name of beneficiary
- Address of branch
- Account number
- Transit number
- Institution number
- SWIFT/BIC number
- IBAN number/routing number
A SWIFT or BIC code is a unique set of numbers and letters that identifies a specific bank.. An IBAN is an International Bank Account Number or “routing number” that is also a unique set of digits and letters that identifies your specific account. In Europe, wire transfers are generally facilitated by BIC or IBAN, whereas in, say, the United States, they primarily use SWIFT. You will need to contact the receiving bank to determine which specific codes you will need to provide CIBC Bank with.
Your wire transfer will be processed within 3-5 business days when you go through CIBC Bank.
February 25, 2020
