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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 one-week mid-range stay in Saudi Arabia, travelers should budget approximately 4,500 to 7,000 SAR (Saudi Riyals) based on typical expenditures. Within a week's timeframe, you can expect to spend around 600 SAR on your daily meals, including a mix of local restaurants and cafes, which cost about 40 SAR for a meal at a local eatery 🍽️. A cup of coffee will set you back approximately 15 SAR ☕, while public transport fares are about 10 SAR for one-way trips. If you're considering a prepaid SIM card for local connectivity, expect to pay around 100 SAR. For accommodation, budget hotels and Airbnb options can vary from 200 to 400 SAR per night, making the total for a week around 1,400 to 2,800 SAR. Overall, Saudi Arabia can be considered an average destination in terms of cost when compared to the United States, where similar expenses might add up to around 1.5 times more. When paired with the UK, Saudi Arabia typically offers slightly cheaper options for travelers.
For expats settling in Saudi Arabia, monthly living costs are generally around 6,000 to 10,000 SAR, depending on lifestyle choices, housing, and personal needs. Rent for a one-bedroom apartment in the city center averages about 2,500 to 4,000 SAR, while utilities generally cost around 500 SAR. For those used to international banking, it's advisable to utilize local banks for convenience and to take advantage of easier access to cash withdrawal and deposit services. Although credit cards are widely accepted, having some cash on hand is beneficial for small transactions. When it comes to sending and receiving money, services like Wise or OFX often offer better exchange rates and lower fees compared to traditional banks. However, for day-to-day expenses, exchanging money locally typically remains the most straightforward approach, ensuring you have the local currency readily available without incurring additional service charges.
View a full list of exchange rates by selecting your Base (from) currency:
