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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.
When planning a mid-range stay in Egypt, a traveler should budget approximately 10,000 to 15,000 Egyptian Pounds (EGP) for a week-long visit. This estimate should comfortably cover accommodation, dining, activities, and transportation. Here’s a glance at typical daily expenses in the local currency:
Overall, visitors will find Egypt to be generally affordable compared to destinations like the United States and Canada, where similar expenses might be double or even triple. Thus, Egypt stands out as a budget-friendly option for travelers seeking rich history and vibrant culture without breaking the bank.
For expats considering a stay in Egypt, typical monthly living costs can range from 30,000 to 50,000 EGP, depending on lifestyle choices and location. This budget usually covers rent, groceries, utilities, and entertainment. When it comes to banking, international cards like Visa and Mastercard are widely accepted, but it’s advisable to maintain some cash for local markets and smaller vendors.
When sending or receiving money, services like Wise or OFX often provide better exchange rates and lower fees compared to local banks. Exchanging money locally can also be an option, but rates can vary significantly from one exchange service to another. For the best value, it’s worth comparing both local exchanges and online transfer services before making transactions.
View a full list of exchange rates by selecting your Base (from) currency:
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