
In international money transfers, selecting the correct SWIFT/BIC code is paramount. Consider this scenario: you're preparing to send funds to a friend in France, but if the SWIFT code contains even a single incorrect character, your transfer amount could be unnecessarily delayed. Today we examine CIBCCATTXXX, the official SWIFT code for Canadian Imperial Bank of Commerce (CIBC), to ensure your funds reach their destination securely and on time.
CIBCCATTXXX serves as CIBC's official SWIFT identifier. The first four letters "CIBC" represent the bank's name, "TAT" indicates its location, while the final "XXX" typically denotes specific services or regions.
This SWIFT code applies to CIBC's central operational hub located at CIBC SQUARE, 81 BAY STREET, TORONTO, ONTARIO, M5G 2M8, CANADA. Whether sending or receiving international transfers through this institution, verifying the accuracy of your SWIFT code prevents potential delays or errors.
Before initiating any transfer, consider these essential verification steps:
- Bank Verification : Confirm the recipient bank's name matches your intended destination to prevent confusion.
- Branch Identification : When using specific branches, ensure their distinct SWIFT codes are correctly entered.
- Country Confirmation : Verify that the SWIFT code corresponds to the correct destination country.
For example, when sending $10,000.00 to France (which would convert to approximately €8,479.00 at current exchange rates), using CIBCCATTXXX for international wire transfers ensures operational efficiency. In today's environment of increasing cross-border transactions, understanding proper SWIFT code usage becomes crucial for seamless fund transfers.
Never underestimate the importance of SWIFT codes in international banking. Their proper use not only guarantees timely transactions but significantly reduces operational risks. Meticulous verification of all transfer details remains the most reliable method to ensure smooth financial transactions across borders.