Personal Finance Money transfer

Your guide to international transfers with CIBC

Piyush Singh

21.10.25

Read time 3 minutes

CIBC® is a major bank for Canadian customers. You can use your CIBC account to send and receive international transfers, but you’ll need to look out for foreign exchange fees and transfer limits.

Let’s take a look at how to send money abroad with CIBC, including CIBC’s international transfer methods, fees and rates.

We’ll also look at Wise – a low-cost digital transfer alternative. With Wise, you can send and receive money worldwide from one account.

Transfer speed & delivery methods at CIBC

There are a few different ways to send a CIBC international transfer. You can use CIBC Global Money Transfer to send money abroad using your CIBC credit card, bank account or line of credit.

Global Money Transfer is suited to faster transfers overseas. You can send money to over 130 countries in 1 to 3 business days via your CIBC mobile banking account.¹

You can also send an international wire transfer at CIBC. This is an electronic funds transfer between your bank and your recipient’s bank. Wire transfers are typically used for large payments, such as a down payment on a new home.

However, if you want to send a payment under 30,000 CAD, CIBC recommends using Global Money Transfer to avoid expensive wire transfer fees.²

Fees and exchange rates at CIBC

Although you can send a CIBC Global Money Transfer for free, there are still some fees to consider.

When you make an international Global Money Transfer or wire transfer from your account, CIBC will convert your money into the right currency for you.

The exchange rate used for your transaction is likely to include a “spread”, which is the difference between the buy and sell rates for foreign currencies.³

This markup is how CIBC makes money on your transaction, but it can add significant costs to your international transfers.

For global wire transfers, you’ll also pay a fee depending on your transfer type and amount. Let’s take a closer look.

Transfer type	Amount	Fee
Outgoing wire	10,000 CAD or less	30 CAD
Outgoing wire	10,000.01 CAD to 50,000 CAD	50 CAD
Outgoing wire	More than 50,000 CAD	80 CAD
Incoming wire	Any amount	15 CAD²

Transfer limits at CIBC

CIBC limits how much you can send abroad. You’ll need to look into these transaction limits before initiating your payment.

Let’s take a closer look at how much you can send through Global Money Transfer using a few popular transfer methods.

Transfer method	Transaction limit	Daily limit	Weekly limit	Monthly limit
Bank account	75,000 CAD	75,000 CAD	525,000 CAD	2,250,000 CAD
Visa® debit or credit card	3000 CAD	10,000 CAD	25,000 CAD	30,000 CAD
Cash pickup	2000 CAD	2,999 CAD	4,999 CAD	14,999 CAD
Alipay®	8000 CAD	8000 CAD	56,000 CAD	220,000 CAD⁴

CIBC’s international wire transfer limits aren’t available online, but you can send more than CAD 50,000 abroad. Speak to your teller for more information on your wire transfer minimum and maximum limits.²

Limitations & pain points

There are some drawbacks to CIBC's international money transfer service.

You’ll need to think about CIBC’s exchange rate markups for foreign currency payments.

You’ll also pay up to 80 CAD per outgoing wire transfer or 15 CAD per incoming transfer. All of these costs can add up!

You can send a Global Money Transfer online, but wire transfers must usually be initiated at a CIBC Banking Centre.² This can be inconvenient on weekends or holidays.²

Meet Wise: Send money abroad without hidden fees

Open a digital multi-currency Wise account to hold, send and receive your money in over 40 currencies at once.

Wise account features:

Send money to over 140 countries 24/7
Access 2-factor authentication and biometric security
Pay from just 0.48% per transfer ^*

You can send and receive unlimited Wise transfers at the mid-market exchange rate for currency conversion with no markups or hidden fees.

Wise transfers are transparent. You can see the cost upfront and track your transfer in your digital account.

CIBC vs Wise for international transfers

Feature	CIBC	Wise
Transfer fees	Up to 80 CAD per wire transfer – no transfer fees for Global Money Transfers	From 0.48%^* per transfer
Exchange rate	CIBC uses a foreign currency “spread” to work out how much you’ll pay for currency conversion	Wise always uses the fair mid-market exchange rate
Delivery time	1 to 3 business days for wire transfers² or Global Money Transfers	Most Wise transfers reach recipients in minutes, but currency conversion can take up to 2 days.**
Available online?	You can send a Global Money Transfer online, but CIBC wire transfers must be initiated at a CIBC Banking Centre	Fully digital service – you can send money whenever you want
Currency coverage	You can send money in local currency to over 130 countries using Global Money Transfer¹	You can hold over 40 currencies in your multi-currency Wise account
Transparency in fees	Wire transfer fees are available via the CIBC website However, for Global Money Transfers and international wire transfers, you’ll pay CIBC’s exchange rate for currency conversion This fluctuates, so you may not know how much your transaction will cost in advance	You can use Wise’s pricing calculator to work out exactly how much your transfer will cost
Account types	CIBC offers a range of account types, including chequing, savings and USD bank accounts You can also open a CIBC Private Wealth account or business account⁵	Open a multi-currency personal or business account – you can also order a Wise card to spend abroad in over 160 countries

Conclusion

CIBC’s international transfer methods can help you send and spend money across the world. You can make a secure wire payment or transfer money to over 130 countries.

However, you’ll need to consider any additional fees and costs for your transfer. CIBC charges an outgoing fee for wire transfers – and you’ll pay CIBC’s exchange rate for currency conversion.

Evaluate your needs before choosing the right provider.

You can use a digital platform like Wise to transfer money at the fair exchange rate with no markups and no hidden fees.

To explore your global transfer options, check out Wise.

Sources

CIBC - CIBC Global Money Transfer offer

CIBC - How to send or receive a wire transfer

CIBC - CIBC Global Money Transfer agreement

CIBC - CIBC Global Money Transfer transaction limits

CIBC - Compare bank accounts
Sources verified on 21 October, 2025

*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.