How to receive an international wire transfer with CIBC
If you’re a CIBC customer and need to receive money from someone overseas, you’ll have to take a few steps to make sure your payment can be safely and efficiently delivered to your bank account.
This guide covers how to receive an international transfer with CIBC, and also touches on a couple of alternatives - Wise, PayPal and Payoneer, which may be able to offer a more flexible service with low fees.
Read our full guide to receiving incoming international wire transfers with CIBC, to learn all there is to know.
Key points: CIBC receive international wire transfer
💡 Key points | CIBC international wire transfer |
|---|---|
⬇️ Fees for receiving transfers | 15 CAD fee for all incoming transfers - cut these costs by receiving payments using local account details from a provider like Wise. |
💱 Exchange rates | CIBC exchange rate, which may include a fee |
🔐 Safety | CIBC is a large and established bank which is safe to use |
🎯 Incoming transfer limits | No stated limit - if you run into a receiving limit you may consider being paid to an alternative account with a provider like Wise or Payoneer. |
🚀 Incoming transfer speed | Variable delivery times, depending on the country and currency of origin |
⭐ Convenience | Convenient to use mobile app, internet banking service, phone support and branch network |
*Details correct at time of research - 21st July 2025
FAQs | Answers |
|---|---|
💰 Does CIBC charge a fee to receive an international wire transfer? | Yes. There’s a 15 CAD fee for all incoming wire transfers to CIBC. |
🎯 How long does it take to receive an international wire to CIBC? | International wires sent through SWIFT can take 1 - 3 days to arrive. Exact delivery times depend on the transfer details. |
⭐ Are there better alternatives to CIBC for receiving international wire transfers? | You may find you can avoid receiving fees by using a provider like Wise or Payoneer to receive payments with local account details. More on that later. |
How to receive an international wire transfer to CIBC: Step-by-step instructions
If you’re receiving an incoming international wire you’ll need to pass some information to the sender so your money can be delivered hassle free. Here’s a roundup of how to receive a payment to CIBC in just a few simple steps.
Step 1: Give the sender your CIBC account information
The basic information needed by the person sending you a payment includes your name and address, the CIBC institution number, your Canadian clearing code, and the CIBC SWIFT/BIC code. You can find this information in the CIBC app or by calling into a branch to ask for help.
Step 2: Agree who will pay the transfer costs
If you’re expecting to receive a fixed amount in the payment, you may want to ask the sender to cover the transfer costs levied by their own bank, plus intermediary fees applied by other banks involved in the process. Otherwise, fees could be deducted as the transfer is processed, which may mean you get less than you expected in the end.
Step 3: Wait for the money to be deposited into your CIBC account
The sender can then arrange the payment, and once it has been processed it will be deposited into your CIBC account. The transfer time can vary a lot depending on the originating bank and country. Some payments can settle within a business day or two, others may take up to 3 business days to arrive.
CIBC fees to receive an international wire transfer
The CIBC incoming international wire transfer fee is 15 CAD. This fee applies on all payments.
Bear in mind that other fees may also be associated with a transfer, including the transfer fee paid by the sender, and potential intermediary fees deducted by third party banks as the payment is processed.
Alternatives to CIBC to receive an international wire transfer
If you’d like to avoid the CIBC international wire fee you might want to choose an alternative way to receive your money.
If you’re a personal customer you might try Wise or PayPal for example, or if you’re looking for ways to receive payments for your business a provider like Payoneer may be a good choice. All of these providers support multi-currency account options which let you receive money in currencies other than CAD.
That allows you to hold your balance in a foreign currency and convert when you’re ready.
Here’s a summary of each of these popular options side by side - with more details coming right up afterwards.
Wise | PayPal | Payoneer | |
|---|---|---|---|
💡 Eligibility | Personal and business customers in Canada and many other countries | Personal and business customers in Canada and many other countries | Business customers in Canada and many other countries |
🌍 Supported currencies | Hold 40+ currencies Transfer in 40 currencies | 25+ currencies supported for holding and exchange | 9 currencies supported for holding and exchange |
⭐ Local and SWIFT account details | Local account details for 8 currencies SWIFT details for 20 currencies | Not applicable - receive to your PayPal account in all supported currencies with just your email address or phone number | Local account information for 9 currencies |
💰 Fees to receive money | No fee to receive non USD payments using local details Small fees apply for USD wires and SWIFT payments | No receiving fee | Variable fees depending on the payment details |
💱 Exchange rate | Mid-market rate | 3% - 4% minimum fee is applied to the rate provided | 0.5% fee is applied to the rate provided |
🎯 Limits for incoming wires | No limit for most currencies | No stated limit | No stated limit |
*Details correct at time of research - 21st July 2025
Wise
The Wise Account can be used to receive, hold, send, spend and exchange a broad selection of currencies.
Your account offers ways to get paid in 8+ currencies with local and SWIFT account details, often with no incoming payment fee for most currencies and payment methods.
You can then use your linked debit card to spend online and in person, with currency exchange which uses the mid-market exchange rate with low conversion fees from 0.48%.
💡 Wise pricing & limits | |
|---|---|
💰 Account fees | No monthly fees Transaction fees may apply depending on account usage |
⬇️ Incoming wire fees | No fee to receive payments using local account details for personal accounts (except USD wires). Small fees apply for USD wires and SWIFT payments, and SWIFT payments in other currencies. Learn more about Wise pricing here. For Wise Business Acccounts, there are small cross-border fees for non-CAD payments. |
🎯 Incoming wire limits | Usually no limit to account holding |
🌍 Supported currencies for receiving payments | Local account details for 8 currencies SWIFT details for 20 currencies |
💱 Exchange rates | Mid-market exchange rate |
⬆️Sending transfer fees | From 0.48% |
*Details correct at time of research - 21st July 2025
PayPal
PayPal is a hugely popular provider of multi-currency accounts which can be used to send and receive international payments, as well as for secure online shopping. You can receive a payment to PayPal by simply giving the sender your email address or phone number, as long as they have their own PayPal account to set up the transfer.
You’ll receive the payment in the currency that’s sent, and can then either hold the balance or convert your money for a fee if you’d prefer.
There’s no fee to receive a PayPal transfer and no monthly charge for keeping the account.
💡 PayPal pricing & limits | |
|---|---|
💰 Account fees | No monthly fees Transaction fees can apply, depending on account usage |
⬇️ Incoming wire fees | No fee to receive a payment to PayPal - fees may apply when you withdraw to a bank |
🎯 Incoming wire limits | Not specified |
🌍 Supported currencies for receiving payments | 25+ currencies available |
💱 Exchange rates | 3% - 4% fees apply on currency exchange |
⬆️Sending transfer fees | Fees vary based on destination and payment method - from 2.99 CAD, with an additional charge of 2.9% for card transfers |
*Details correct at time of research - 21st July 2025
Payoneer
Payoneer offers multi-currency business accounts which can be helpful for receiving payments in 9 major currencies. Your account comes with the local details you need to receive foreign currency payments.
A fee may apply depending on the currency you receive, and there is also a small charge for currency conversion if you need it.
The Payoneer account is a comprehensive business account with a linked payment card for business spending and cash withdrawals.
💡 Payoneer pricing & limits | |
|---|---|
💰 Account fees | No ongoing account fees Transaction fees apply depending on account usage |
⬇️ Incoming wire fees | Fees vary depending on the currency involved |
🎯 Incoming wire limits | Not stated |
🌍 Supported currencies for receiving payments | 9 currencies - CAD, USD, GBP, EUR, JPY, AUD, HKD, SGD and AED |
💱 Exchange rates | 0.5% fee applies on currency exchange |
⬆️Sending transfer fees | Up to 3% |
*Details correct at time of research - 21st July 2025
What information is needed to receive a wire transfer at CIBC
To receive an international wire transfer to your CIBC account you must give the sender some important information.
Having incorrect or incomplete information may mean the payment is delayed, rejected or deposited into the wrong account.
Here’s what you need:
📁 Required information to receive payments with CIBC |
|---|
|
CIBC SWIFT code for international transfers
The CIBC BIC/SWIFT code is needed to make sure your money is deposited into the right account. It’s a unique identifier which guides the payment from the sender’s bank overseas to your CIBC account in Canada.
If you’re receiving a USD payment you must also give details of the CIBC Wells Fargo account as this acts as an intermediary. This includes an additional SWIFT code.
📌 CIBC SWIFT code |
|---|
CIBC SWIFT code - CIBCCATT For USD transfers you also need the Wells Fargo SWIFT code, as intermediary: PNBPUS3NNYC |
How to find CIBC SWIFT code
You can find the CIBC SWIFT code along with all of the other required information for receiving an international payment to CIBC, on the CIBC dedicated webpage.
CIBC transit number to receive international wire
Transit numbers are unique to each branch and show the specific location your account is registered. You will need to give this number to the person sending you money.
🔢 CIBC transit number |
|---|
Log into CIBC Online Banking and select the account you need from the My Accounts page to see your CIBC transit number |
CIBC address for incoming international wires
You must also provide the complete branch address of your transit branch including the street, city, province, postal code, and country.
🏦 CIBC address |
|---|
Use the Search by Transit Number function on the CIBC website to find the right address for your branch |
CIBC receive limits for incoming international wires
There’s not usually a limit on the amount of money you can receive as an incoming payment to CIBC. However, the exact limits can vary depending on the specific account you have, so if you have a large payment on the way it may be worth checking with the bank directly to ensure there are no issues with receiving your money.
How long does it take for CIBC to receive an international wire transfer?
Payments sent to a CIBC account usually arrive in 1 - 3 business days.
You might find a specialist provider like Wise or Payoneer can help you receive your payment more quickly. Services like these tend to use local account networks which can mean your payment is processed quickly or even instantly.
How to track an incoming international wire transfer with CIBC
If you want to check on the progress of the money that’s winging its way to you, you’ll need to ask the sender to log into their bank account and track the payment on your behalf.
What can you do if your transfer is not delivered yet
In the first instance it is worth asking the sender to have their bank track the payment to see what has happened to it.
You can also ask CIBC if they have any information on the transfer.
Ultimately, the sender’s bank can put a trace on the wire transfer if it has been misdirected, but there is likely to be a fee to pay for this service.
Talk to your local CIBC branch for advice if you’re not sure what to do about a missing payment.
Conclusion: CIBC incoming international wire transfer
You can receive incoming international transfers to CIBC, but there’s a 15 CAD fee for all incoming payments. This is deducted before your money is deposited to your account.
As an alternative, you might want to look at accounts which offer local account details, such as the Wise account or the Payoneer Business Account. These options let you pass the sender local account details in their home currency, so they can send a local payment which is received to your account in the foreign currency.
So - your friend in the UK can send you a payment in GBP easily, and using a local transfer method, which is usually free or cheap for them, too. You can then hold your balance in the foreign currency, convert and withdraw the money, send it to others, or spend it. This gives flexibility and often means lower costs in the end.