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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.
For those planning a week-long mid-range stay in Sri Lanka, it's advisable to budget around LKR 70,000 to LKR 100,000 (approximately USD 220 to USD 310). This budget will comfortably cover your accommodation, meals, transportation, and activities. Daily expenses may vary, but here are some typical costs to expect: a meal at a local restaurant costs around LKR 800-1,500 🍛, a cup of coffee is about LKR 300 ☕, public transport fares can be as low as LKR 50-200 🚍, a prepaid SIM card typically costs LKR 1,500 📱, and budget hotel or Airbnb options can range from LKR 3,000 to LKR 7,000 per night 🛌. Overall, Sri Lanka offers an affordable travel experience compared to countries like the United States, where costs can be 1.5 to 2 times higher, and even more so compared to the UK, making it a real gem for budget-conscious travelers looking for rich cultural experiences.
For expats residing in Sri Lanka, typical monthly living costs can range from LKR 150,000 to LKR 300,000 (approximately USD 470 to USD 940) depending on lifestyle choices. Rent for a one-bedroom apartment in major cities like Colombo can run between LKR 40,000 and LKR 150,000, while utilities and internet may add another LKR 10,000-20,000 to your monthly expenses. When it comes to banking, many local banks offer competitive services, but it's wise to avoid foreign card fees by using a local bank card for transactions. Additionally, online money transfer services like Wise or OFX often provide better exchange rates than local banks. Generally, you may find it more economical to exchange money locally, as ATMs and currency exchange booths often have favorable rates; however, always compare options, as each case may vary based on current market conditions.
View a full list of exchange rates by selecting your Base (from) currency:
