Cibc Asset Management Inc. SWIFT/BIC code

CIAECAM1 – the SWIFT/BIC code of Cibc Asset Management Inc.

The 8-character code CIAECAM1 and the full code CIAECAM1XXX identify the same bank: Cibc Asset Management Inc. in Montreal, Canada. Banks worldwide use BIC codes to route international transfers to the right institution. In practice you usually come across it on international invoices, in payment forms and in the bank details that Cibc Asset Management Inc. provides.

On this page you will find how the code means, when it matters and what else a transfer to or from Cibc Asset Management Inc. requires. Keep in mind that the SWIFT code only identifies the bank, not the person: the IBAN or account number takes care of that.

Tracking a transfer to or from Cibc Asset Management Inc.

How quickly a payment reaches Cibc Asset Management Inc. depends on several factors: which currency you send, the number of banks in between, cut-off times and time zones. Bank holidays in the sending or receiving country can add extra days, since banks do not process on those days. Occasionally a bank wants to know about the purpose of a payment.

If the money seems delayed, ask the sending bank about the status and the transaction reference. Money transfer services often show a status online so you can see how far the payment has got.

If a payment has not arrived after a few business days, the person who paid should start with the bank that sent it, not the receiving bank. As a recipient, it helps to look at your statements for a slightly lower amount because fees can reduce the amount.

Choosing between the 2 SWIFT codes of Cibc Asset Management Inc.

Having 2 codes in 1 cities, Cibc Asset Management Inc. belongs to the banks that use separate codes for parts of the organisation. The main code is CIAECAM1XXX.

If nobody asks you for a branch code, go with CIAECAM1XXX. If you have been given a specific code, stick to it instead of swapping it for the head office code.

Not sure which code applies? Ask the recipient. Branch codes are more likely to change than CIAECAM1XXX.

A note on our data

Our SWIFT/BIC directory draws on public sources. Institutions reorganise, close branches and change codes. The figures on this page are based on what is in our directory and not on information from Cibc Asset Management Inc. itself.

See our directory on this page as a helpful check. GoldexPay is a comparison site for money transfers and not affiliated with Cibc Asset Management Inc.. If you notice a mistake, we welcome a short note.

What to give a sender who pays you at Cibc Asset Management Inc.

Someone abroad who wants to pay you will ask for several details about your account, and missing ones are a common cause of delays. Give them the account holder’s name, the IBAN or account number, SWIFT code CIAECAM1XXX and your address.

The sender’s bank may also ask for the bank address of Cibc Asset Management Inc., in which case the Montreal head office is the usual answer. Double-check each detail before you send them – a sender rarely spots a mistake in someone else’s details.

What lands in your account is often lower than the amount sent. Correspondent banks can take a fee, and if the money is converted, a markup on the rate comes on top. Agree with the sender who pays which costs, especially for larger amounts.

Paying someone abroad from your Cibc Asset Management Inc. account

When you transfer money abroad via Cibc Asset Management Inc., the fee you see is only part of the cost. There is the transfer fee, possibly fees charged by intermediary banks along the way and, above all, the exchange rate markup.

The markup on the rate tends to be the largest cost because it is hidden in the rate. Check the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of currency pairs, a transfer service is cheaper than a bank. Next time you send money, take a minute to compare the total cost on GoldexPay. You can still keep your account at Cibc Asset Management Inc. as the source of the money, while a cheaper service handles the conversion.

Is CIAECAM1 still correct? How to check

The best place to find the correct BIC remains a document from the bank itself. When the code you were given does not match CIAECAM1 or CIAECAM1XXX, stop and ask – contact the recipient or Cibc Asset Management Inc..

An incorrect BIC can cause delays, a payment being sent back or extra fees. An error in the account number is a bigger problem, because the money may be credited to someone else.

Many banking apps validate the format of an IBAN – that confirms the format, not the owner. Where available, a name check on the recipient adds extra certainty. A small test payment can be a sensible step for large sums despite the extra fee.

Canadian Dollar (CAD) and conversion costs

Canada uses the Canadian Dollar, code CAD. If you send money in a different currency it gets converted somewhere along the way – by your bank, by Cibc Asset Management Inc. or by a bank in between. You rarely see a separate charge for the conversion; it is built into the rate.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. Often it is cheaper to send CAD straight away via a provider with a good rate, so that the receiving bank does not need to convert again.

The rate for CAD fluctuates throughout the day. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

Protect yourself against fake payment requests

Fraudsters regularly use payment requests containing new bank details, sometimes in an email that looks completely genuine. The fact that CIAECAM1 exists is no guarantee that the account is genuine.

Do not trust contact details in the same message that announces the new account. Pressure or secrecy tend to be red flags; a genuine business can wait for you to check. Acted too fast? Contact the bank you paid from straight away and ask them to start a recall.

People receiving money are targeted too: a classic trick is an overpayment and then sends a request to refund the difference abroad. Do not act before the money has really arrived and check with Cibc Asset Management Inc. if anything seems off.

CIAECAM1 or CIAECAM1XXX – which one to use?

Each SWIFT/BIC code has an 8-character core: four letters for the bank, a two-letter country code and a two-character location code. That gives you CIAECAM1 for Cibc Asset Management Inc..

The long version adds three more characters for a branch or department. When those three characters are XXX, they simply mean the head office.

Enter the code as one block, in upper case and without separators. A wrong character may route a payment to a different institution, so copy it carefully.