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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 travelers planning a 1-week mid-range stay in Qatar, a reasonable budget would be around 4,500 Qatari riyals (QAR), which translates to approximately 1,230 USD. This budget should cover accommodation, meals, transportation, and some leisure activities. Here’s a breakdown of typical daily expenses in Qatar:
Travelers will find that Qatar is on the higher side of the expense spectrum compared to other destinations. For context, the overall cost of visiting Qatar is somewhat more expensive than in the United States, especially for dining and accommodation, and also more costly than in the UK, where basic expenses tend to be lower overall.
For expats residing in Qatar, typical monthly living expenses can vary widely but generally fall between 10,000 QAR to 20,000 QAR (approximately 2,750 to 5,500 USD), depending on lifestyle choices. This estimate covers rent for a one-bedroom apartment, groceries, utilities, and leisure activities. When managing finances, it's advisable for expats to leverage local banking facilities, but using international policies can provide added flexibility. Most establishments accept credit and debit cards; however, be cautious about foreign transaction fees. As for money transfers, while exchanging cash prior to your trip might seem convenient, using online services like Wise or OFX typically offers better rates and lower fees for sending or receiving larger amounts. Overall, expats will find that maintaining a local bank account while utilizing online transfer services balances convenience with cost-effectiveness.
View a full list of exchange rates by selecting your Base (from) currency:
