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    Compare CIBC Exchange Rates

    Exchange Rates aren't all the same! Its hard to predict the currency markets but you can always save money by comparing CIBC margins and fees to those charged by your bank or FX provider.

    CIBC Global Money Transfer

    One of Canada’s so-called “Big Five”, the Canadian Imperial Bank of Commerce was formed by the merger in 1961 of the Canadian Bank of Commerce and the Imperial Bank of Canada and is seen as a trusted banking institution.

    The CIBC Global Money Transfer service aims to allow customers to move money across borders just as easily as making a domestic wire transfer.

    When you get a quote for your Global Money Transfer from CIBC on their website or in-app, you can also see the CIBC exchange rate, but it can be difficult to then calculate how much you are being charged.

    CIBC does not publish their exchange rates publicly which is frustrating. Our BER International Money Transfer partners tend to offer guaranteed transparency on all conversions.

    Our research shows that on average, CIBC profit margin for foreign exchange rates is somewhere between 4 - 8%, depending on the amount you're sending, where you're sending it to and which currency will be received.

    While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.

    You Can Save Money when you Compare CIBC Exchange Rate Margins & Fees

    The below comparison table makes it easy to calculate the Total Cost you are being charged on your currency transaction by CIBC versus the market mid-rate. It is easy to calculate any savings available from popular market-leading FX providers.

     

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