In today’s globalized financial landscape, international money transfers are faster and more convenient than ever. However, the key to ensuring funds reach their intended destination safely lies in the correct use of a bank’s SWIFT/BIC code. For the Canadian Imperial Bank of Commerce (CIBC), the designated SWIFT code is CIBCCATTCMI , specifically used for processing international payments and receipts.
When conducting cross-border transactions, both individuals and businesses must verify and use the accurate SWIFT code to guarantee that funds are transferred precisely to the recipient’s account. The code CIBCCATTCMI identifies CIBC’s headquarters in Toronto, Ontario, Canada. Comprising 8 to 11 characters, SWIFT codes include a bank identifier, country code, location code, and occasionally a branch code. Confirming the validity of this code before initiating a transfer is essential to minimize risks and ensure the security of your funds.
For instance, if you are sending money from abroad to a CIBC account, you will need to provide the following details: the bank name, “Canadian Imperial Bank of Commerce,” and its address, “CIBC SQUARE, 81 BAY STREET, TORONTO, ONTARIO, M5G 2M8, CANADA.” Double-checking each piece of information reduces potential errors and safeguards your transaction.
Understanding how to properly use CIBCCATTCMI not only enhances transaction efficiency but also plays a vital role in facilitating seamless international financial activities. Whether for travel, education, or global trade, knowing this code is a fundamental step toward successfully completing cross-border bank transfers.