When making international money transfers, have you ever faced delays or losses due to incorrect SWIFT code information? As one of Canada's largest commercial banks, the Canadian Imperial Bank of Commerce (CIBC) requires proper use of its SWIFT/BIC code for both corporate transactions and personal transfers. Understanding and correctly using CIBC's SWIFT code is essential to avoid unnecessary complications during the transfer process.
The SWIFT code for Canadian Imperial Bank of Commerce is CIBCCATTCWM .
Bank Information Overview
Bank Name: Canadian Imperial Bank of Commerce
City: Toronto
Address: Suite 700-595 Bay Street, Toronto, Ontario, M5G 2M8
Country: Canada
Why SWIFT Codes Matter
Accurate SWIFT codes are critical for successful international transfers. Here are key considerations when using SWIFT codes:
- Verify the Bank Name: Ensure the bank name matches exactly what the recipient specified. This detail improves transfer success rates and reduces the risk of delays.
- Check Branch Information: If transferring through a specific branch, confirm the branch SWIFT code matches the recipient's branch to ensure proper routing.
- Confirm Bank Location: Verify that the SWIFT code corresponds to the correct country or region of the destination bank to prevent processing errors.
Maintaining vigilance with SWIFT codes, particularly for international transactions, contributes to smoother banking experiences. Ensuring all information is accurate significantly reduces transfer risks and helps funds reach their intended destination securely.