When sending money across borders, selecting the correct SWIFT code for your bank is crucial. Imagine your funds traveling internationally, only to fail to reach the intended account due to an incorrect code—a concern for anyone making international transfers. Today, we delve into the SWIFT code for the Canadian Imperial Bank of Commerce (CIBC)— CIBCCATTCMI —and its key details.
What Is a SWIFT Code?
A SWIFT code, also known as a Bank Identifier Code (BIC), is a unique 8-to-11-character alphanumeric identifier used to distinguish banks and their branches worldwide. Providing the correct SWIFT code ensures that your international transfer reaches the recipient’s bank securely and efficiently.
About CIBC
As one of Canada’s largest banks, the Canadian Imperial Bank of Commerce (CIBC) is renowned for its comprehensive financial services and international expertise. Headquartered at 81 Bay Street, Toronto, Ontario, M5G 2M8, in the iconic CIBC Square, the bank serves both individual and corporate clients with a full suite of banking solutions.
CIBC’s SWIFT Code
To ensure seamless international transfers to CIBC, use the SWIFT code CIBCCATTCMI . Always verify this code against the recipient bank’s details to prevent delays or errors in processing.
Key Considerations for International Transfers
Time is often a critical factor in international wire transfers. While many transactions are completed within the same business day, attention to detail is essential to avoid complications. Before initiating a transfer, confirm the following:
- The recipient bank’s SWIFT code is accurate.
- The beneficiary’s account details—including name, account number, and additional required information—are correct.
- Transfer timing and associated fees, as some banks may charge service fees.
Conclusion
A SWIFT code is more than just a combination of letters and numbers—it is the backbone of global financial connectivity. By understanding CIBC’s SWIFT code ( CIBCCATTCMI ), you can execute international transfers with confidence, ensuring your funds arrive safely and promptly. Whether you are an individual or a business, mastering these fundamentals adds an extra layer of security to your cross-border financial operations.