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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 one-week mid-range stay in Taiwan, a budget of approximately TWD 30,000 to TWD 40,000 (around USD 1,000 to USD 1,300) should suffice. This budget allows for a comfortable experience without breaking the bank, covering meals, accommodations, and transportation. Here's a quick overview of typical daily expenses in Taiwan:
In general, Taiwan offers moderate pricing compared to many Western countries. While your experience may vary based on personal preferences and choices, it's generally cheaper than the United States, especially in dining and local transport. In contrast, Taiwan's cost of living aligns closely with the UK, where expenses for equivalent services can be 20-30% higher.
For expats living in Taiwan, typical monthly living costs can range from TWD 40,000 to TWD 60,000 depending on lifestyle choices. This cost usually covers rent, groceries, utility bills, and leisure activities. While it can be reasonable to spend less if you embrace local food and transport, living in more upscale neighborhoods can significantly increase expenses.
When navigating finances, it's crucial to have a local bank account for efficient transactions. Credit and debit cards are widely accepted, but always carry cash for smaller vendors. As for transferring money internationally, services like Wise and OFX typically offer better exchange rates and lower fees than traditional banks, making them a smart choice for sending or receiving funds. However, for day-to-day expenses, it's advisable to exchange money locally to avoid unfavorable rates and fees often charged by exchange bureaus in tourist areas.
View a full list of exchange rates by selecting your Base (from) currency:
