CIBC launches online currency exchange service with home delivery

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CIBC has introduced a platform that could be convenient for travelling Canadians; Like an Uber for foreign currency, CIBC customers will be able to order foreign cash online and have it delivered to their home for free.

“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,” said Vineet Malhotra, managing director and head, Alternate Solutions Group and Retail Solutions Group, CIBC.

To buy foreign currency through CIBC Foreign Cash Online, users 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. Detailed tracking information is also available, and customers can choose to have the money delivered to their home or pick it up at the nearest branch.

“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,” said Larry Tomei, senior vice president of National Sales and Service at 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.”