CIBC wire transfers allow you to send funds domestically within Canada or internationally to almost any country. The online daily limit is approximately $50,000 for personal accounts. Domestic wires cost approximately $25 and international wires cost $40–$65 depending on destination and currency. CIBC’s SWIFT/BIC code for receiving international wires is CIBCCATT.
Unlike TD (TD Bank US) and BMO (BMO Harris), CIBC does not have a US retail banking affiliate, so cross-border transfers to the US follow standard international wire procedures rather than an integrated cross-border banking product.
CIBC Wire Transfer Summary
| Transfer Type | Online Limit | Fee | Timeframe |
|---|---|---|---|
| Domestic (Canada) | ~$50,000/day | ~$25 | 1–2 business days |
| International (major currencies) | ~$50,000/day | $40–$65 | 2–3 business days |
| International (less common currencies) | ~$50,000/day | $40–$65 | 3–5 business days |
| In-branch (any amount) | Higher limits | Varies | Same day to 5 days |
| Incoming international wire | N/A | Handling fee may apply | 1–5 business days |
CIBC SWIFT Details for Incoming International Wires
When receiving an international wire transfer into a CIBC account, provide the sender with all of the following:
- SWIFT/BIC code: CIBCCATT
- Your full name as it appears on the CIBC account
- Transit number (5 digits — find in CIBC Online Banking under Account Details)
- Account number (7–12 digits)
- Bank name: Canadian Imperial Bank of Commerce
- Bank address: Commerce Court, 199 Bay Street, Toronto, ON M5L 1A2, Canada
For your transit number, always use the number shown in your own CIBC Online Banking — not a transit number looked up in a directory. See the CIBC routing number guide for full transit number details.
How to Send a Wire Transfer Online
- Log in to CIBC Online Banking at cibc.com
- Navigate to Move Money → Wire Transfer (or Global Money Transfer for international)
- Select your source account
- Enter the recipient’s bank details:
- For domestic: transit number, institution number, and account number
- For international: SWIFT/BIC code, IBAN (if applicable), account number, and full recipient address
- Enter the amount and currency
- Review the exchange rate and fees before confirming
- Submit and save the confirmation number
For transfers above the online limit or where the recipient’s bank details are complex, call 1-800-465-2422 or visit a CIBC branch.
CIBC vs. Big Five Wire Transfer Fees (Approximate)
| Bank | Domestic Wire | International Wire | US Banking Affiliate |
|---|---|---|---|
| CIBC | ~$25 | $40–$65 | None |
| TD | ~$25 | $40–$65 | TD Bank US (integrated) |
| RBC | ~$25 | $40–$65 | None |
| Scotiabank | ~$25 | $40–$65 | LatAm/Caribbean network |
| BMO | ~$25 | $40–$65 | BMO Harris (US Midwest) |
Wire fees across the Big Five are broadly similar — the differentiating factor is cross-border banking infrastructure. TD and BMO have integrated US retail banking that allows US-dollar transactions at lower cost and without wire procedures. CIBC clients sending to US recipients should compare Wise or other transfer services against CIBC’s wire fee plus FX spread.
When to Use Wire Transfer vs. Other Methods
| Method | Best For | Cost |
|---|---|---|
| Interac e-Transfer | Domestic transfers up to $3,000 | Free (Smart Account) |
| Online wire (domestic) | Domestic transfers $3,000–$50,000 | ~$25 |
| Online wire (international) | International transfers to any country | $40–$65 |
| Wise / Remitly | International transfers with better FX rates | Lower than bank wire |
| In-branch wire | Very large transfers or complex destinations | Varies |
For Canadians sending money internationally regularly, the total cost of a CIBC international wire (fee + FX spread) is typically higher than Wise or similar services. For occasional large international transfers, the bank wire is more convenient if you already have CIBC Online Banking set up.