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Understanding the Table:
The comparison table above helps you see the total cost of your CIBC currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
CIBC uses different bank codes depending on the currency and location of the sending bank. Here are some of the most common bank codes used for receiving foreign wire transfers:
SWIFT Code: CIBCCATT: This code is used for receiving wire transfers in Canadian dollars (CAD) from foreign banks.
Transit Number and Institution Number: These codes are used for receiving wire transfers in Canadian dollars (CAD) from banks located within Canada.
ABA Routing Number: 021000089: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located within the United States.
CHIPS UID: 0902: This code is used for receiving wire transfers in U.S. dollars (USD) from foreign banks that are members of the Clearing House Interbank Payments System (CHIPS).
Fedwire ABA Routing Number: 026009593: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located outside of the United States.
It's important to note that specific bank codes may vary depending on the currency and location of the sending bank, and it's recommended to confirm the correct codes with CIBC before initiating a wire transfer. Additionally, CIBC may charge fees for receiving wire transfers, so it's important to check the current fees and policies before initiating a transaction.
CIBC offers several credit cards with different foreign transaction fees. Here are some examples:
CIBC Aventura Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Dividend Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Aeroplan Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
CIBC Platinum Visa Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
It's important to note that credit card terms and conditions can change, so it's always a good idea to check the current fees and policies before applying for or using a credit card for foreign transactions.
If you wish to save on exchange rates and foreign ATM fees then you should consider the Wise multi-currency card.
How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
For a week-long mid-range stay in Russia, travelers should budget approximately 35,000 to 60,000 RUB (around $450 to $750). This estimate considers moderate accommodations, dining, transportation, and leisure activities. Here’s a breakdown of typical daily expenses you might encounter in Russia:
In general, Russia is considered to be average in terms of travel expenses when compared to the United States, where many services and meals are more expensive. For example, dining out can cost up to twice as much in the U.S. than in Russia. When compared to the UK, travelers will find that prices in Russia are generally lower, giving an enticing value for money, especially in terms of dining and local experiences.
For expats living in Russia, typical monthly living costs can be around 50,000 to 90,000 RUB (approximately $650 to $1,200), depending on lifestyle and location. This includes rent, utilities, groceries, and transportation. When it comes to banking, most major banks offer convenient services, but it’s wise to compare local bank fees as they can vary significantly. Credit and debit cards are widely accepted, yet having cash on hand is ideal for smaller venues and markets.
Regarding money exchange, it’s generally more advantageous to exchange money locally for cash transactions; however, for larger transfers, using online services like Wise or OFX often provides better rates and lower fees than traditional banks. Be mindful of exchange rates and service charges to save money on international transfers. Overall, being well-informed about banking practices will enhance your experience living in Russia, making your financial management smoother and more cost-effective.
View a full list of exchange rates by selecting your Base (from) currency:
