CIBC international transfer: Fees, rates and transfer time (sending or receiving)

Adam Rozsa

CIBC has 2 different ways to send and one way to receive money internationally.

In this article, we'll show you CIBC's international fees, times and how to receive a transfer with them.

What you may find, is that there may be a cheaper way for you to send money through a different service such as Wise— but more on that later.


📝 This blog will cover:

How much does CIBC charge for an international transfer?

CIBC has 2 ways of sending money internationally:

  1. A wire, which must be set up in person at your local branch
  2. A CIBC Global Money Transfer (GMT), which can be done online, on the CIBC app, or in a local branch

The pricing between the two can vary quite a bit.

1. CIBC Global Money Transfers (GMT)

CIBC advertises that it transfers money globally — with 0 fees. If your destination currency is on their list of over 50 countries, and you’re sending under C$15,000, then you may be in luck.

However, the thing you’ll most likely want to note is that CIBC says they make money on your Global Money Transfers through the exchange rate they offer.²

💡This means that CIBC buries charges into the exchange rate they offer consumers — without calling them fees. This is known as a “spread” or “mark-up”. A bank receives one exchange rate, and then turns and offers consumers a poorer one — pocketing the difference.

CIBC Global Money Transfer total costs and limits table

CIBC Global Money Transfers (GMT)Regular fees¹
Minimum amount (GMT)C$100 per transaction
Maximum amount (GMT)

C$9,999 per 24 hour period¹ (although it may be up to C$15,000 depending on your account)

C$6,000 to China at a time

Outgoing Global Money Transfer (GMT)No fees + exchange rate spread² + bank account transaction fees may apply¹ + recipient bank fees may apply²
Cancellation (GMT)Once you request us to send the GMT and the funds/fees have been withdrawn from your account you cannot cancel a GMT²

Banks and institutions regularly update pricing, so make sure you double check CIBC’s latest information to make sure all figures are up to date.

2. CIBC international wires

If you’re sending over C$15,000 with at one time with CIBC, or you’re sending money to a country that isn’t supported by the Global Money Transfers (GMT) product, you’ll need to send an international wire. The fees are higher for wire transfers.

When you send or receive money in a currency different from what’s used at your home bank, it has to be converted somewhere along the line. CIBC states explicitly that they set their own exchange rate³, but they do not say whether they make money on your international wire transfers through the exchange rate they offer.

A cost comparison example

If you’re sending money to Brazil, which is not supported by CIBC’s Global Money Transfers product¹, you would need to make a wire transfer — which means you’ll have to go in person to a CIBC branch because wires aren’t available online.

You could, however, transfer the money online with Wise and debiting your CIBC account directly without going to the branch.

Sending C$1,000 from Canada to a Brazilian real bank account in Brazil.

ProviderFeeExchange RateTotal Cost
CIBC (Canada)C$30Exchange rate + possible mark-up²C$30+ possible mark-up² + likely fees from correspondent and recipient banks³
WiseC$17.60The real exchange rate — like the one you find on GoogleC$17.60


At first glance, the price difference may not seem like much. But when you start adding up possibly poor exchange rates, likely correspondent banking costs, and sprinkle in a chance of recipient bank fees, you may find that your low-cost transfers may not be as good a deal as they appeared.

It’s worth it to do your homework.

CIBC international wire transfer total costs table

CIBC International WiresRegular fees³
Receiving a wire transferC$15 per transfer + possible exchange rate spread² + correspondent bank fees may apply
Sending a wire transfer

Up to $10,000: $30.00 per payment

$10,000.01-50,000: $50.00 per payment³

Greater than $50,000: $80.00 per payment

Possible intermediary banking fees³

Return of wire payment$35 per payment + Possible intermediary banking fees
Amendment of a wire payment$35 per payment (which may apply to both incoming and outgoing wire payments) + Possible intermediary banking fees
Recall of a wire payment$35 per payment + Possible intermediary banking fees
Tracing of a wire payment$35 per payment + Possible intermediary banking fees

Banks and institutions regularly update pricing, so make sure you double-check CIBC’s latest information to make sure all figures are up-to-date.

Also note that some banks send international transfers through the SWIFT banking system. In contrast to its name, SWIFT transfers aren’t well renowned for their speed. Nor their bargain prices — especially when it comes to small dollar amounts. To send money from one country to another often involves multiple intermediary banks, who often levy their own fees. Making your transfers even more expensive than you anticipated.


If you’re looking for an alternative, you may want to consider Wise

One alternative to making international transfers with your bank is by using Wise. Wise is a service that allows you to send money at the mid-market rate for a low, transparent fee. There are no hidden mark-ups, so no  guesswork or exchange rate spread calculations needed — you can save up to 6x compared to banks

Wise’s smart technology sends your money through a series of local bank transfers. Your money generally doesn’t cross any borders, meaning you won’t have to worry about intermediary or recipient bank fees. 

Wise also offers multi-currency accounts, where users can hold, manage, send and receive money in multiple global currencies all at once, without paying any exchange rate markups. 

For several regions — like the EU, the UK, the US, and Australia and more — you can even get your own virtual account details. That means you can receive money locally in several countries without even living there.

Get a free Wise account today! It takes just a couple of minutes to open one.

Get a free Wise account here

How do you make an international wire transfer or Global Money Transfer with CIBC?

To make a Global Money Transfer with CIBC, you’ll need:¹

  • Enough funds in your account
  • The recipient’s full address
  • The full name of the recipient’s bank
  • The location of the recipient’s bank, including country, city, province or state, postal code or area code
  • The recipient’s bank account number
  • The reason for the transfer

The info varies slightly if you’re sending money to China. So check out CIBC’s GMT info page for more specifics.

To send a wire transfer with CIBC, you’ll need:⁵

  • The recipient’s full name
  • The recipient’s address (including city, province or state and country)
  • The recipient’s bank account number
  • The full name and address of the recipient’s bank
  • The amount and currency of the transfer

To send an international transfer with Wise, in most cases all you’ll need:

  • The recipient’s full name and their email address (we’ll email them, and they can fill out their local banking details from there)

What do I need, or what should I give to the sender in order to receive an international bank transfer with CIBC?

To receive an international money transfer to CIBC, you’ll need to give the sender:

  • CIBC’s BIC/SWIFT code
  • Your account number
  • Your account name
  • Your 5 digit transit number (including zeros)
  • Your home address
  • Your bank address
  • You may need to agree with the sender about who will pay the fees associated with the transfer

You can log into CIBC mobile or online banking to find this information, or call 1-800-465-2422 toll-free.

How long does an international bank transfer with CIBC take?

How long does it take normally to arrive to the destination account?

Typically, a Global Money Transfer from CIBC will typically be delivered within 1-3 business days. It’s possible their international wires may take more time.

Does the amount of time it takes vary by destination?

Transfer times aren’t guaranteed,² and some countries and recipient banks may take longer to process international transfers. Although, if you’re using Global Money Transfers, it’s noted that on average it takes 1-3 business days for the recipient to access their funds.

More questions around your CIBC transfer?

Still have questions? CIBC’s customer support page offers multiple ways to get in touch with a representative. Numbers will vary based on your location, so make sure you check online to find out the best way to call or email.

Knowing the ins and outs of international money transfers will make the whole process a lot simpler — and can save you money in the end. Protect your money by educating yourself and choosing the best transfer method for your needs.


  1. CIBC Global Money Transfer 
  2. CIBC Global Money Transfer agreement 
  3. CIBC Personal Account Service Fees 
  4. CIBC Additional Service Fees 
  5. CIBC What information do I need to send or receive a wire transfer?

All sources checked on 12 April 2022

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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