CIBC Global Money Transfer™

Sending money to the U.S.:

You can send money from your Canadian bank accounts and lines of credit. You can also pay for a CIBC Global Money Transfer using an eligible CIBC credit card.

Sending money to countries other than the U.S.:

You can send money from your Canadian and U.S. bank accounts and lines of credit. You can also pay for a CIBC Global Money Transfer using an eligible CIBC credit card.

The minimum amount you can send in one transaction is $100 CA.

For most countries, you can now send up to $75,000 CA per transaction when you pay with your bank account or line of credit. If you pay using your credit card, you can send up to $15,000 CA per transaction, or up to your credit limit if it’s under $15,000, in a 24-hour period. Additionally, when paying with your credit card, the weekly limit is $40,000 CA and the monthly limit is $80,000 CA.

The total amount you can send in a 24-hour period is $75,000.

For cash pickup transfers to Pakistan, the limit is $999 per transaction. Small Business clients have a maximum of $100,000 CA per day.

For GMTs to China, the funds are delivered in CNY or USD depending on the transfer method.

• To a China UnionPay card, you can send up to $3,000 CA per transaction.
• To an Alipay account, you can send up to $8,000 CA per transaction.

Note: The Government of the People’s Republic of China enforces the following additional limits when someone sends money to a China UnionPay card:

• A recipient in mainland China can receive a maximum amount of $50,000 US yearly from any source.
• The limit for China UnionPay transactions is 5 transactions per day and 20 transactions per month.

For CIBC Global Money Transfers to the following countries, clients can send up to $75,000 CA in a 24-hour period and up to the following amount at a time (per transaction):
 

Learn more about CIBC Global Money Transfer™ Limits (PDF, 45 KB) Opens in a new window.

Starting February 1, 2021, you won't earn rewards when you pay for a CIBC Global Money Transfer with your credit card unless CIBC has a special offer, which could include earning credit card rewards. These offers may be for a limited time and have additional terms and conditions.

Your monthly credit card statement shows the current annual interest rate for purchases that applies to your account. CIBC doesn't charge interest on Global Money Transfers that appear on your credit card statement if we receive the full payment for the amount due by the payment due date. If you converted your Global Money Transfer into an Installment Plan during that statement period, you need to pay the full balance by the due date to avoid interest.

How often can I send money?

You can use the service as often as you like. You can send a maximum of $75,000 Canadian in total, per 24-hour period.
 

What do I need to send money?

You need:

• Enough funds in your accounts

• The recipient's address, bank name and bank account number 

• The reason for the transfer
 

What do I need to send money to China?

You'll need:

• The recipient's name

• The recipient's address

• The name of the recipient bank

• A China UnionPay card number

Note: The Government of the People’s Republic of China enforces the following additional limits when someone sends money to a China UnionPay card:

• A recipient in mainland China can receive a maximum amount of $50,000 US yearly from any source.
• The limit for China UnionPay transactions is 5 transactions per day and 20 transactions per month.

Do I need to be a CIBC client to use the CIBC Global Money Transfer service?

Yes, you need a CIBC chequing, savings, personal line of credit or an eligible credit card account to send a CIBC Global Money Transfer.
 

What information do I need to provide about my recipient?

Here’s what you need to provide:

• The recipient’s bank account number

• The official name and location of the recipient’s bank, including country, city, province or state, postal code or area code
 

How long will it take for funds to reach my recipient?

Typically, the recipient will receive the funds within 1-3 business days.
 

What does my recipient need to do to receive the funds?

If you gave us the correct information, the funds will be deposited directly into the recipient’s account.
 

Will my recipient have to pay any fees?

The recipient’s bank may charge a fee, but CIBC does not.
 

Is there a fee for sending a CIBC Global Money Transfer?

We give CIBC Global Money Transfers to all of our clients free of fees. Standard foreign exchange rates apply. A Global Money Transfer counts towards your allowable transaction limit. Bank account transaction fees may apply.
 

In what currency will my recipient receive the funds?

Your recipient will receive the funds in his or her local currency. You can also send from your Canadian dollar bank account for your recipient to receive the funds in US dollars. Some countries may convert the funds into a different currency; conversion fees may apply. Your recipient can confirm the currency with their bank.
 

How is the foreign exchange conversion calculated on my transaction?

CIBC’s rates are based on live inter-bank foreign exchange rates for all Global Money Transfers. You’ll receive accurate, real-time pricing every time you send money.
 

If I send money to a recipient regularly, will I have to re-enter their information every time?

No, your recipient’s information will be saved in your CIBC Online Banking profile and history.
 

Will the money I send arrive safely?

Yes. If you gave us the correct information, the funds will arrive safely.
 

How can I check the status of my transfer?

Sign on to Online Banking or Mobile Banking and go to the Transfer Status page to check the status of your money transfers.

• If a transfer shows as "Pending," the funds have not yet been sent to the recipient

• If a transfer shows as "Completed," the funds have been sent to the recipient
 

Which banks can I send money to in China?

You can send funds to a China Union Pay card to any of the 10 banks listed below.

We're constantly trying to enhance the list of supported banks and we’ll be adding new banks periodically throughout the year.

You can also send US funds to a bank account in over 220 banks in China.
 

How can I get more help?

For more help with Global Money Transfers, contact us 24 hours a day, 7 days a week:

• Call us at 1-866-330-7344 Opens your phone app.
• Email us at Mailbox.GMT@cibc.com Opens your email app.