How Long Does an E-Transfer Take at CIBC? A Comprehensive Guide

If you’re a customer of the Canadian Imperial Bank of Commerce (CIBC), the convenience of e-transfers likely isn't lost on you. This technology empowers individuals to send money to others in minutes, right from the comfort of their homes. However, many are left wondering about the transfer duration. This article aims to answer the fundamental question: How long does an e-transfer take at CIBC? And we'll explore the three primary avenues: online banking, the mobile app, and customer service.

1. Online Banking

Online banking is one of the most popular methods for money transfer because it is safe, easy, and can be done anytime, anywhere. But how long does it take for an e-transfer to be processed via this channel, really?

Usually, e-transfers through CIBC online banking are delivered within 30 minutes. Once you click 'send,' a notification will be sent to the recipient, informing them that money has been made available for pick-up. However, the recipient must log in timely to their financial institution to accept and deposit the funds. This timeline may slightly extend if the recipient's bank has restrictions or specific security protocols in place.

2. Mobile App

CIBC's mobile app is equipped to offer fast and secure e-Transfers to customers. The process involves a few simple steps that are very similar to the online banking method. But, the question remains, how long do these mobile app e-transfers take?

Similar to online banking, the transfer appears to be nearly instant, with the recipient usually receiving the notification within 30 minutes. Yet, the process may get delayed if the recipient does not accept the money soon or if their bank has different procedures.

3. Using Customer Service

Another way to send an e-transfer from CIBC is via customer service. This option is the best fit if you’re not overly tech-savvy or do not have access to an online platform at the moment.

Customer service at CIBC is available 24/7. You can call them to initiate the e-transfer. The phone call typically lasts under 10 minutes, given necessary information is ready. The recipient usually receives the notification within 30 minutes following the completion of the call, similar to other methods. However, this timeline is dependent on when the recipient can access and accept the funds. Another factor to consider is the possible queue waiting time when you call customer service, especially during peak hours.

Conclusion

Every method to e-transfer funds from CIBC, whether via online banking, mobile app or by contacting customer service, generally takes under 30 minutes to notify the recipient. The exact duration before the recipient can access the money is primarily dependent on when they login and accept the transfer and the policies of their bank. Therefore, it's always a good practice to plan your e-transfers in advance, especially for time-sensitive transactions.