The Canadian Imperial Bank of Commerce, or CIBC, is a multinational bank and financial services corporation. Its headquarters is at CIBC Square in the Financial District of Toronto, Ontario.
Similar to other banks in Canada, CIBC offers CAD and USD accounts. However, if you want to deposit USD in a CIBC ATM, you can only deposit US cheques at envelope-free CIBC ATMs with the “USD Deposit” option. In any case, if an envelope-free machine does not recognize your items, you may look for a CIBC ATM that accepts envelope deposits to deposit your US cheques.
If you have USD in cash and would like to make a deposit on your CIBC account via a CIBC ATM, we recommend converting your USD first to CAD. However, choosing where you will exchange currencies is crucial. If you exchange with banks, you might lose more money. Why? Because to earn money from you, banks do not give clients like you fair currency exchange rates. Moreover, they also impose high transaction fees.
What should you do then? Look for a reliable currency exchange provider when exchanging USD for CAD or vice versa. RemitBee is the best when it comes to currency exchange and money remittance services in Canada. With RemitBee’s currency exchange service, you can expect to have the best rates banks and other currency exchange service providers can’t compare. With RemitBee, you can maximize your money’s potential!
RemitBee operates 100% online, so you can avail of our services wherever you are at any time of the day. Best of all, all CAD/USD conversions are free of charge!
Are you excited to deposit USD in a CIBC ATM? Start converting now with RemitBee.
The Process of Depositing at a CIBC ATM
Whether you are depositing a cheque or cash, here are the steps you need to take when depositing in a CIBC ATM:
Step 1
Ready your cheque or cash and ensure it is not enclosed in an envelope. Remove any paper clips, staples, tapes, and rubber bands before you insert them at the ATM later.
Step 2
Insert your card in the card slot.
Step 3
Key in your PIN Code.
Step 4
Press Deposit.
Step 5
Press Chequing or Cash. Then click Continue.
Step 6
Insert the cheque into the ATM slot once the prompt appears.
Step 7
Wait for the machine to scan your cheque or review the amount of money you inserted. Afterwards, click Deposit upon reviewing the details displayed on the screen. If you want to make changes, click Edit.
Step 8
Wait for the money to be deposited in your account. After the successful transaction, you will be asked if you want to print a transaction receipt. Press Print Receipt if that is what you prefer. You may also opt to have the receipt sent to your e-mail.
Step 9
Get your card and your receipt. The amount on your receipt displays the updated amount in your account.
Depositing money in Canadian ATMs is fast and easy. However, when it comes to currency exchange, RemitBee is simply the best. Sign up now and experience our sting-free services.
