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Send Money Home with CIBC No-Fee-GMT

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When it comes to reasons why to send money from home, the reasons are simple.  Do you do lots of business abroad and send money regularly?  Do you make overseas purchases?  Perhaps your son who is in college in the U.S. needs you to send funds to his account for school expenses.  Maybe your daughter who is overseas had an emergency and needed some extra cash this month.  Birthdays, holidays and other events are all occasions when money may be something you want (or need) to send to loved ones.

Having family overseas means sending money for special occasions, emergencies or “just because”.

One thing I was never happy with when sending money overseas was that there were usually lots of fees involved.  Sometimes even on both ends.

philippines
That time I took my little one to the Philippines when she was three years old and Hubby wanted to send me some extra currency because he was worried I didn’t take enough.

CIBC Global Money Transfer lets you send money anytime, usually within 1 business day.

Even more exciting is that CIBC Global Money Transfer features:

● Zero fee to send transfers, with very competitive rates

●Sending money to 35+ countries worldwide, including India, Philippines, and the Eurozone countries

● Done conveniently and quickly, send money online or through a branch

● Very secure delivery of money

Those are some reasons why I’m a big fan of CIBC’s No-Fee-GMT. What I really like about the service is that you can send money from your Canadian and US dollar chequing and savings accounts, as well as personal lines of credit (but you must be a CIBC banking customer).

It’s a service that saves you money, saves your family money (i.e. no fees on the other end) and saves time (fast and free turnaround).  To me that’s a win-win-win situation!

Questions you need to ask when thinking about sending money overseas

The Financial Consumer Agency of Canada (FCAC) advises anyone who wants to send money overseas to ask the following questions:
• Is there a financial institution that operates in both Canada and the recipient country? A bank, for example, with branches in both countries may be the least expensive method to transfer money
CIBC has 100% coverage for all countries on their list.
• Does the money transfer company you are considering have a good reputation? Ask the Canadian Council of Better Business Bureaus about it—or ask relatives, friends or members of the community about their experience.
CIBC is a huge, well-respected bank with an impeccable reputation.
• What options are there? Depending on the service and the country the money is going to, you may be able to use email, telephone or online services. Sending a cheque or a prepaid card may also be possible.
N/A for CIBC. It has to be bank-to-bank.
• How much will the transaction cost you? Some businesses charge a set fee to send any amount of money, while others charge a percentage of the remittance. Fees can vary widely, so be sure to shop around to get the best deal.
FREE on both ends.
•How long will it take?
Sometimes 24 hours.
How much will the recipient get? The recipient may have to pay a fee or a tax to get the money.
They get what you send.  You just pay the exchange rate.
Do you have family overseas?  Need to send money home? Now that you know all about CIBC’s No-Fee-GMT, I bet it makes you feel safer, more confident (and excited) sending money overseas!
*DISCLAIMER: This post is brought to you by CIBC Global Money Transfer™. All thoughts, opinions are my own.

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