
When sending money internationally, providing a SWIFT code is often necessary to ensure secure and accurate transactions. For those planning to transfer funds to the Canadian Imperial Bank of Commerce (CIBC), knowing its SWIFT code and related details is essential. This article provides a detailed breakdown of CIBC’s SWIFT code and key considerations when using it.
CIBC’s SWIFT Code Explained
The SWIFT code for the Canadian Imperial Bank of Commerce is CIBCCATTCWM . This code is part of the global financial messaging standard, identifying specific banks and their branches. Its components can be broken down as follows:
- CIBC : Refers to the Canadian Imperial Bank of Commerce.
- CATT : Identifies the bank within the global financial system.
- CWM : Represents a specific branch or function, ensuring funds reach the correct account.
Bank Details and Address
For international transfers, verifying the recipient bank’s information is critical. Below are CIBC’s key details:
- Bank Name : Canadian Imperial Bank of Commerce
- City : Toronto
- Address : Suite 700-595 Bay Street, Toronto, Ontario, M5G 2M8
- Country : Canada
Before initiating a transfer, confirm that the SWIFT code CIBCCATTCWM matches the recipient bank’s requirements. Some transactions may require adjustments to the branch identifier (e.g., CWM ), so double-checking with the receiving party is advisable.
Verifying Bank Information
To avoid delays or failed transactions, ensure the following details are accurate:
- SWIFT Code : Confirm the correct code is used.
- Bank Name : Match the name with the recipient’s account details.
- Bank Address : Verify the address for the specific branch.
- Recipient Account Information : Ensure the account number and beneficiary details are complete.
Errors in SWIFT codes or account details can result in misdirected funds or transaction failures. Since CIBC operates multiple international branches, meticulous verification is crucial. For added assurance, consult a banking professional before finalizing the transfer.
Conclusion
Understanding and correctly using CIBC’s SWIFT code is a vital step for seamless international transfers. From Toronto-based transactions to global fund movements, accurate details safeguard your money and ensure a smooth process.