Your guide to CIBC Global Money Transfer for Canadian businesses

Sending money abroad is a routine part of running a Canadian business, from paying overseas suppliers to supporting international teams. CIBC Global Money Transfer™ for Business is designed to help with those needs, offering international transfers with no transfer fee, access to exchange rates shown before confirmation, and the ability to send payments to over 130 countries through CIBC Online or Mobile Banking.

This guide walks through how the service works for Canadian businesses, the fees and limits to expect, and how it compares with an alternative like Wise Business for managing international payments.

What does the CIBC Global Money Transfer offer to Canadian businesses?

CIBC Global Money Transfer™ for Business makes it easy for Canadian businesses to send money abroad directly from their existing CIBC accounts. Eligible clients can make transfers through CIBC Online Banking or the Mobile Banking App, using either a Business Operating Account or a U.S. Current Account.

The service supports payments to more than 130 countries, with recipients able to receive funds in their local currency or in USD where available.

Businesses can send money from a CAD account or a USD account, with daily transfer limits of up to 250,000 CAD¹ for most destinations.

There's no transfer fee¹ to send a Global Money Transfer. Instead, the cost is included in CIBC's exchange rate, which is based on live inter-bank rates shown before you confirm the transfer and includes a markup. Most payments arrive within 1 to 3 business days¹, with some transfers completing in as little as one business day.

How to send money with CIBC Global Money Transfer as a Canadian business

International payments with CIBC Global Money Transfer™ for Business are handled entirely through CIBC's digital banking channels. Here's how the process works for Canadian business clients:

Step 1. Sign in to CIBC Online Banking or the CIBC Mobile Banking App
Log in using your business credentials and select Global Money Transfer from the available payment options.

Step 2. Enter your recipient's details
Provide the required information for the recipient, including their bank name, account number, and location. The exact details needed depend on the destination country and currency.

Step 3. Choose the transfer amount and submit
Enter the amount you want to send, review the exchange rate shown, and submit the transfer. Once submitted, you can track the status of your transfer through Online or Mobile Banking until the payment is completed.

What are the fees, limits and exchange rates for businesses with CIBC Global Money Transfer?

CIBC Global Money Transfer™ for Business is positioned as a low-friction way for Canadian businesses to send money internationally, with pricing and limits designed to support regular and higher-value payments.

Fees: CIBC does not charge a transfer fee for Global Money Transfers.¹ Each transfer counts toward your account's allowable transaction limit, and standard account transaction fees may still apply depending on your business account.

Exchange rates: Foreign exchange costs are included in CIBC's exchange rate, which includes a markup on the mid-market rate. Rates are based on live inter-bank foreign exchange rates¹ and are shown in real time before you confirm the transfer, so you can see the total cost upfront.

Transfer speed: Most payments arrive within 1 to 3 business days¹, with some transfers completing in as little as one business day, depending on the destination and currency.

Limits and recipient eligibility of CIBC Global Money Transfer

CIBC sets clear limits around how much businesses can send and who can receive funds.

• Minimum transfer amount: 100 CAD per transaction¹
• Maximum amount: Up to 250,000 CAD per transaction¹ for most countries
• Daily limit: A total of 250,000 CAD per 24-hour period¹ to most destinations
• Frequency: You can send transfers as often as you like within these limits

Some countries have lower per-transaction limits, and additional restrictions apply for transfers to China in CNY, including lower transaction caps and recipient-level limits enforced by local regulations.

To send a transfer, your business must hold a CIBC Business Operating Account or a US Current Account. Payments to the US can be sent from Canadian Business Operating Accounts, while payments to other countries can be sent from either CAD or USD business accounts.

Recipients receive funds directly into their bank account, in their local currency or in USD where eligible. Required recipient details vary by country and can include bank account numbers, SWIFT codes, IBANs, routing codes, or additional identifying information. Once saved, recipient details can be reused for future transfers.

Meet Wise Business – a transparent alternative with the mid-market rate

Wise Business is designed for companies that manage money across borders on a regular basis. Canadian businesses can hold, exchange, and send 40+ currencies, and make payments to 140+ countries, all from one account.

Wise uses the mid-market rate and instead charges a small, upfront fee starting at 0.48%. You can use their online calculator to see the fee for your specific transfer on the Wise website, without needing to make an account.

There's a one-time 55 CAD setup fee² and no monthly subscription. After that, businesses only pay for what they use, with transfer fees that vary by currency and start from 0.48%.² Wise Business also lets companies receive money using local account details in selected currencies, including a US routing number, an EU IBAN, and other local details, making it easier to get paid by international clients and partners.

CIBC Global Money Transfer vs Wise

Both options can work for Canadian businesses, depending on your needs and business setup. CIBC Global Money Transfer keeps everything within your existing bank, while Wise Business focuses on transparent pricing, currency flexibility, and tools for managing international money at scale.

Conclusion

CIBC Global Money Transfer™ for Business offers Canadian companies a familiar way to send international payments directly from their existing CIBC accounts, with 0 CAD transfer fees.¹ Businesses already using CIBC may appreciate being able to manage cross-border payments alongside their regular banking activity.

For companies that send, receive, and manage money across borders on a day-to-day or frequent basis, Wise Business provides an alternative that uses the mid-market exchange rate with upfront pricing and multi-currency account features. Comparing both options helps you choose the service that best fits how often you make international payments and how much control and transparency you want over foreign exchange costs.

1. Send money internationally with CIBC Global Money Transfer for Business – CIBC
2. Wise Business fees & pricing – Wise
3. Guide to CAD transfers – Wise Help Centre
   Sources verified on 11 March 2026