How much can you transfer with a CIBC smart account in Canada? A closer look

The CIBC Smart Account is a flexible chequing account where you only pay for what you use, with the option to avoid monthly fees by maintaining a higher balance.

Understanding the account's transfer limits is essential if you move money frequently, whether within Canada or abroad. This guide breaks down how much you can move with a CIBC Smart Account and how Wise compares for everyday and international transfers.

How the CIBC smart account limits affect your daily banking

The CIBC Smart Account is designed to adapt to your banking habits. You can choose the standard CIBC Smart Account for everyday use, or the CIBC Smart Plus Account if you need higher transaction volumes and more frequent transfers.

Both options make it easy to move money within Canada or abroad, but each has its own limits that affect your day-to-day banking. For example, someone who sends a few Interac e-Transfers a week or pays bills online will likely find the standard Smart Account sufficient. If you transfer larger sums, manage family expenses, or send money overseas often, the Smart Plus option may give you more flexibility with fewer restrictions.

CIBC Smart Account transfer limits: an overview

CIBC sets transfer limits based on the payment type, but there are no internal restrictions on the number of Interac e-Transfers you can make. The Smart Plus Account includes unlimited Interac e-Transfers¹, though the Interac network itself applies maximum send amounts. Wire and international transfers allow higher value payments, but include additional fees.

Overview of CIBC Smart Account transfer limits

What happens if you reach your CIBC Smart Account limit?

If you reach your transfer or transaction limit, CIBC will pause new outgoing payments until your daily or weekly window resets. You can still view your balance, receive deposits, and schedule transfers for later, but additional transactions won't process right away.

For the CIBC Smart Account, any unused or free transactions don't carry over to the next month.⁵ Customers with the Smart Plus Account have unlimited transactions, including Interac e-Transfers⁶, so they won't face monthly usage caps, but transfer limits still apply.

Comparing CIBC Smart account limits with Wise

Both CIBC and Wise allow you to move money within Canada and internationally. The CIBC Smart Account focuses on flexible daily banking, while Wise is designed for fast, low-cost international transfers with transparent pricing.

Why Wise stands out

Wise lets you send, receive, and hold money in more than 40 currencies using the mid-market exchange rate. There are no hidden markups, and you can get account details to receive payments like a local in up to 22 currencies. Transfers are processed quickly, often within a few hours, and all fees are shown upfront.

CIBC Smart Account vs Wise transfer limits and fees

Factors that influence your CIBC transfer limits

CIBC's transfer limits aren't always the same for every customer. The amount you can send or receive can depend on how you bank and your account activity. Limits may also be adjusted for security or regulatory reasons.

Common factors include:

• Account type and verification: Higher limits often apply to fully verified accounts or long-standing customers.
• Transfer method: Limits vary between Interac e-Transfer, wire, and Global Money Transfer.
• Banking history: Consistent use and positive account history can help maintain higher limits.
• Security checks: Transfers may be reviewed if they trigger fraud or compliance flags, which can temporarily reduce available limits.

Tips for managing your CIBC Smart Account limits

A few simple habits can help you avoid interruptions when sending or receiving money.

• Plan larger payments early: If you're close to a daily or weekly limit, schedule the transfer for the next available window.
• Use the right transfer method: Interac e-Transfers are quick for smaller amounts, while wires or Global Money Transfers suit higher values.
• Check your balance and transaction count: If you have a Smart Account, remember that unused transactions don't roll over to the next month.
• Visit a branch for larger transfers: When you need to exceed online limits, in-person wire transfers at your local branch can help move higher amounts securely.
• Monitor your account in the CIBC app: Regular checks make it easier to track usage and spot when you're close to reaching your limit.

Why Canadians use Wise alongside their CIBC Smart Account

Many Canadians pair their CIBC Smart Account with Wise to manage everyday banking at home while cutting costs on international transfers. CIBC's accounts make it easy to handle daily payments, but Wise often works better for sending or receiving money abroad.

Here's why:

• Fair foreign exchange: Wise uses the mid-market rate with no markup, so you get more of your money when converting between currencies.
• Transparent pricing: All fees are shown upfront, starting from 0.48%⁸, with no hidden costs or surprises in the exchange rate.
• Multi-currency convenience: Hold, send, and receive money in over 40 currencies, with receiving account details in 22 of them, including CAD, USD, GBP, and EUR.
• Fast global transfers: Most payments arrive within a few minutes to hours, and many are processed instantly.
• Flexible access: Use your Wise card to spend directly from your balance in 150+ countries, or withdraw cash at ATMs with two free withdrawals each month up to 350 CAD.⁸

Using Wise alongside a CIBC Smart Account gives you the best of both worlds - familiar local banking for daily needs and low-cost international payments when you need to move money across borders.

Conclusion

The CIBC Smart Account offers flexibility for everyday banking, with unlimited Interac e-Transfers and simple ways to move money within Canada. Knowing your transfer limits helps you plan ahead and avoid delays, particularly when sending larger payments or international transfers.

For higher-value or cross-border payments, Wise complements your CIBC account through transparent pricing, mid-market exchange rates, and fast global transfers that make moving money easier and more cost-effective.

Sources verified on 30 December 2025