All you need to know about CIBC (Canadian Imperial Bank of Commerce International Student Pay)
CIBC- The Canadian Imperial Bank of Commerce has its headquarters at CIBC Square in the District of Toronto, Ontario. CIBC has tied up with many educational institutes for accepting fees on their behalf. Sending money internationally with CIBC involves no transfer fees. But if you are sending money from India through a CIBC payment instruction, you will have to pay the fees to your bank in India. This fee may vary from bank to bank. While making a payment a student must compare Interbank Exchange rates running in the market. Generally, banks charge a higher exchange rate on international transactions but if you compare and try to find some other payment options available in the market then you will be able to save a lot of money on your transaction.
How does it work?
- Your Institution will provide you instruction slip for paying money through CIBC which contains all the payment instructions like bank account details, transit code & swift code, etc.
- You must bring that instruction slip and your ID proofs like Pan, Aadhaar, Passport, etc. to your bank’s branch.
- Your bank will ask you to send an A2 form and complete the documentation formalities.
- Your bank will remit the fees using the same payment instruction and will provide you with a swift copy as proof.
Whom to approach for assistance in making the entire process simpler and cheaper?
IBRLIVE INDIA PVT LTD is one of the most trusted organizations engaged in forex services and located in Panipat, Haryana which helps students to generate payment instructions and make the final payment that too on a low exchange margin. You can simply visit the website https://ibrlive.com/contact and call them directly for assistance