CIBC launches online foreign currency exchange service with convenient free home delivery

First of its kind platform allows Canadians to order up to 75 foreign currencies online at competitive, real-time exchange rates

TORONTO, Oct. 30, 2015 /CNW/ - Working to make banking easier and more convenient, CIBC (TSX: CM) (NYSE: CM) today introduced a new platform that allows Canadians to order foreign cash through a number of convenient channels, including online, at competitive exchange rates and have it delivered securely to their home at no extra cost.

CIBC is offering a seamless omni-channel online ordering experience with free delivery to a client's home or for pick-up at Toronto Pearson Airport or a CIBC banking centre. The 75 currencies represent 90 different countries.

"CIBC's Foreign Cash platform offers competitive rates and the same easy and convenient service that fits the lives of Canadians whether they order online or through one of our banking centres," says Larry Tomei, Senior Vice President, National Sales and Service, CIBC. "As the only major bank to offer clients secure free home delivery when they order foreign cash, CIBC is helping simplify banking and travel for Canadians."

"Having access to foreign cash delivered right to your door simplifies travel planning for individuals who don't often visit a branch or are pressed for time," says Vineet Malhotra, Managing Director and Head, Alternate Solutions Group and Retail Solutions Group, CIBC.

Buying foreign currency through CIBC Foreign Cash Online is easy. Clients are given a real-time foreign currency rate that once added to the shopping cart, is held for 30 minutes. The service also allows for the purchase of multiple currencies in one transaction. Once ordered, the cash is delivered to most locations in two to three business days. Clients also receive detailed tracking information.

"Our innovative new platform builds on our recent launch of CIBC Global Money Transfer™, a no-fee international remittance service underscoring our commitment to being the leading provider of foreign exchange in Canada," adds Mr. Malhotra.

CIBC Foreign Cash Online:

             
How to Access     Free Delivery Options     Transfer limits
(minimum $300 CAD purchase)
CIBC banking
clients:

CIBC Online Banking
    Home delivery
(most locations in Canada)
    $2,500 CAD equivalent
    Toronto Pearson Airport in Terminal 1
International, post security - CIBC banking centre
    $9,500 CAD equivalent
    Any CIBC banking centre     $50,000 CAD equivalent
             
             
Non-Clients:
fx.cibc.com
    Home delivery
(most locations in Canada)
    $2,500 CAD equivalent
    Toronto Pearson Airport in
Terminal 1 International, post security - CIBC banking centre

As the exclusive financial institution partner of Toronto Pearson Airport, CIBC also offers banking and foreign exchange services, including CIBC Foreign Cash Online pick-up through banking centres, multi-currency ATMs, and mobile/online banking.

About CIBC

CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, banking centres and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.

SOURCE CIBC

Image with caption: "CIBC Foreign Cash Online(TM) allows Canadians to order up to 75 foreign currencies online at competitive, real-time exchange rates, and have it delivered to their homes at no cost. (CNW Group/CIBC)". Image available at: http://photos.newswire.ca/images/download/20151030_C9124_PHOTO_EN_44352.jpg

For further information:

Olga Petrycki, Director, External Communications, 416-306-9760 or olga.petrycki@cibc.com


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