Payment Services in Canada

Among Canadian providers of payment processing, CIBC is a major provider of funds transfer services for correspondent banks globally. Whether you are looking for treasury settlement or retail and/or commercial payment services, our comprehensive payment services have been designed to meet your needs.

Our full range of payment services include:

• Treasury settlement, including Continuous Linked Settlement
• Retail & Commercial payment service
• Cash settlement of securities
• Customer transfers to beneficiaries in Canada
• Disbursements

Key benefits

1. Timely, accurate and secure payment processing

• Benefit from our experienced payment professionals dedicated to meeting your needs; our payment processing operations in Toronto receive, process and deliver payments throughout Canada and the world in a secure and timely manner
• Send us your financial instructions including deposits, collections and documentary credits, and we'll process your payments, via SWIFT (Society for Worldwide Interbank Financial Telecommunication)
• Make payments to beneficiaries in all major currencies anywhere in Canada via our treasury settlement and retail and commercial payment services; payments will be processed with same-day value if they are received with all the required information by our stated cut-off times
• Send us your financial instructions for securities, trading, deposits, collections and documentary credits by SWIFT; we'll automatically route them to the appropriate department for action

2. Comprehensive and timely activity notification

• Receive your incoming and outgoing payment activities in real-time via MT910 (credit confirmation) and MT900 (debit confirmation) messages respectively

3. Dedicated and experienced customer service

• Our dedicated and experienced Customer Service Help Desk team is multilingual and can assist you in the investigation of all account activity, including payments, cash letters and collections
• Our fully integrated investigation system allows us to address your inquiries in a timely manner
• SWIFT inquiries are normally addressed within 1 business day

Please note:

The above is intended to be only a general description of this service and its features. Certain conditions, restrictions and exceptions may apply. CIBC reserves the right to change or discontinue this service or any of its features at any time. This service and its features shall be subject to the terms and conditions of the applicable agreement governing its use. For more information, please contact us.