The CIBC USD to HUF rate is 334.9. This is -6.4% below the mid-rate. We help you save money by comparing CIBC USD to HUF exchange rates to the latest market rate and those offered by leading FX providers.
CIBC Global Money Transfer
One of Canada’s so-called “Big Five”, the Canadian Imperial Bank of Commerce was formed by the merger in 1961 of the Canadian Bank of Commerce and the Imperial Bank of Canada and is seen as a trusted banking institution.
The CIBC Global Money Transfer service aims to allow customers to move money across borders just as easily as making a domestic wire transfer.
When you get a quote for your Global Money Transfer from CIBC on their website or in-app, you can also see the CIBC exchange rate, but it can be difficult to then calculate how much you are being charged.
CIBC does not publish their exchange rates publicly which is frustrating. Our BER International Money Transfer partners tend to offer guaranteed transparency on all conversions.
Our research shows that on average, CIBC profit margin for foreign exchange rates is somewhere between 4 - 8%, depending on the amount you're sending, where you're sending it to and which currency will be received.
While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.
Note the limit with CIBC Global Money Transfer in a 24-hour period is C$30,000, if paying via credit-card C$15,000.
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Receiving an international wire transfer at CIBC
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 credit card FX fees
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.
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