CIBC Business Accounts Can Now Send Money Overseas Without Transfer Fees on Mobile
CIBC has announced today it has eliminated transfer fees for business account customers, when sending money overseas using the bank’s mobile app, website or at a branch.
The financial institutions’s Global Money Transfer platform lets businesses send money overseas to over 75 countries, available right from a mobile device.
“We live in a connected world where business is increasingly global, and success depends on speed and efficiency,” said Andrew Turnbull, Senior Vice-President, Business Banking, CIBC, in a statement. “By saving time and money on international payments, we are helping businesses realize their ambitions in the global marketplace.”
CIBC says businesses with a Canadian or U.S. dollar account or line of credit can now “transfer money at competitive exchange rates,” making for a faster transaction instead of traditional wire payments.
The CIBC Global Money Transfer has a daily limit of $15,000, does not require registration and allows recipients to be saved for future transfers.