Services that Canadian banks offer

You can deposit cash to your chequing or savings account in Canada. However, some banks limit how much cash you can deposit, so be sure to contact your bank and ask about any restrictions. Keep in mind that when you arrive in Canada, you have to declare any amount of $10,000 CA or more.  

If you're depositing large amounts of cash or large cheques, it’s best to visit a branch in person. Large amounts deposited via ATMs or mobile banking may be held while the transactions are verified, so if you’re looking to use the money right away, it’s worth taking the time to go into the bank. 

You can also bring an international money order to Canada and deposit funds at any CIBC banking centre near you Opens in a new window. . 

One of the best features of banking in Canada is the ability to easily access services on your phone or computer. Mobile and online banking lets you easily manage your money. You can pay bills, track your expenses, get tips and advice on your monthly spending, and even tap your phone to make a purchase. 

If you have money in your bank account back home, you can wire transfer it to your Canadian bank account. If you have a CIBC account, you can easily do that by asking your bank in your home country to transfer money to your CIBC account Opens in a new window..

Whether you're looking to send money to someone here in Canada or transfer money back home, both domestic and international e-transfers allow you to do it easily from your phone, online banking, or in a branch.

You can make domestic transfers to someone in Canada through the Interac e-Transfer® service. Enter the email address or phone number of the person you wish to send money to, create a security question and hit send. If you have CIBC’s Smart Account for Newcomers Opens in a new window. , you get unlimited transactions¹ including Interac e-Transfer service. 
 

If you’re thinking more broadly and plan to send money to loved ones internationally, there’s a solution for that too — and it’s a lot easier than you might expect. A CIBC Global Money Transfer Opens in a new window.  is a safe way to send money to over 120 countries, including India, the Philippines, China, Nigeria and the United States. Even better, not only will you pay $0 in transfer fees², you can actually get up to $300 back Opens in a new window. ^† after your first Global Money Transfer Opens in a new window. .

Whether you're looking to start a new business in Canada or simply want to apply for school and need a loan, Canadian banks can help you. Depending on a few different factors such as how much you wish to borrow and when you want to pay it back, you may be offered a fixed loan or a revolving line of credit. When applying for a loan, make sure you understand all your duties regarding payment schedules, interest rates and any other obligations. 

If you haven’t yet established your credit history in Canada, here’s a helpful resource to help you get started Opens in a new window. .