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Understanding the Table:
The comparison table above helps you see the total cost of your CIBC currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
CIBC uses different bank codes depending on the currency and location of the sending bank. Here are some of the most common bank codes used for receiving foreign wire transfers:
SWIFT Code: CIBCCATT: This code is used for receiving wire transfers in Canadian dollars (CAD) from foreign banks.
Transit Number and Institution Number: These codes are used for receiving wire transfers in Canadian dollars (CAD) from banks located within Canada.
ABA Routing Number: 021000089: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located within the United States.
CHIPS UID: 0902: This code is used for receiving wire transfers in U.S. dollars (USD) from foreign banks that are members of the Clearing House Interbank Payments System (CHIPS).
Fedwire ABA Routing Number: 026009593: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located outside of the United States.
It's important to note that specific bank codes may vary depending on the currency and location of the sending bank, and it's recommended to confirm the correct codes with CIBC before initiating a wire transfer. Additionally, CIBC may charge fees for receiving wire transfers, so it's important to check the current fees and policies before initiating a transaction.
CIBC offers several credit cards with different foreign transaction fees. Here are some examples:
CIBC Aventura Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Dividend Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Aeroplan Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Platinum Visa Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
It's important to note that credit card terms and conditions can change, so it's always a good idea to check the current fees and policies before applying for or using a credit card for foreign transactions.
If you wish to save on exchange rates and foreign ATM fees then you should consider the Wise multi-currency card.
How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
If you’re planning a one-week mid-range stay in Indonesia, it’s advisable to budget around IDR 7,000,000 to IDR 10,000,000 (approximately $470 to $670) for a comfortable experience. Travel expenses can vary greatly depending on your activities, but here’s a quick overview of typical daily costs to help you plan:
Generally, Indonesia is considered an affordable destination, ranking lower on the price scale compared to the United States. For instance, a meal in the U.S. can average around $15, whereas a similar meal in Indonesia typically costs about $3-6. When compared to Australia, where everyday expenses are relatively higher, travelers can expect to save significantly in Indonesia, making it an attractive option for budget-conscious tourists.
For expats settling in Indonesia, the average monthly living costs can range from IDR 15,000,000 to IDR 30,000,000 (around $1,000 to $2,000), depending on lifestyle choices and location. This estimate includes rent, utilities, groceries, and leisure activities. To manage your finances effectively, it’s crucial to understand the banking landscape: many locals use debit and credit cards, but cash is still king in many markets and restaurants.
When it comes to money transfers, using local exchange services can sometimes yield better rates than your bank, but for international transfers, platforms like Wise or OFX often provide competitive rates with lower fees compared to traditional banks. Consider keeping a balance of both options: exchange a small amount of cash locally for immediate use, and leverage online transfer services for larger expenses or when sending money home. This approach ensures you benefit from the local convenience while minimizing costs associated with currency exchange.
View a full list of exchange rates by selecting your Base (from) currency:
