How to Transfer Money from CIBC to RBC: A Comprehensive Guide

In the age of digital banking, transferring money between different banks has never been easier. In particular, if you need to transfer money from CIBC to RBC, you have several convenient options at your disposal. This guide outlines how you can proceed with the money transfer via online banking, a mobile app, or by calling customer service.

Online Banking

Online banking is arguably the most popular method of moving money from a CIBC account to an RBC account. Here is a detailed step-by-step guide:

• Log in to your CIBC online banking account.
• Under the "Payments & Transfers" menu, select "Add Payee."
• On the next screen, select "Contribute to an RBC account" and input the required information, such as your RBC account number and branch transit number.
• Confirm the details and proceed with the transaction.

Remember, it typically takes 1-2 business days for the funds to appear in the recipient's bank account when using online banking for transfers.

Mobile App

The functionality of banking apps has increased significantly over the years, and they now offer almost every service that you can access through a web-based platform. Concurrently, CIBC and RBC have excellent mobile apps that make the transfer process quite simple. Here is the procedure:

• Download and sign in to the CIBC mobile banking app.
• Select “Transfers” from the main menu.
• Choose your source account and add "RBC" as a new payee.
• Input the recipient’s banking information.
• Review the details and submit the transaction.

When using a mobile app, transferring money typically takes the same amount of time, approximately 1-2 business days, just like online banking.

Call Customer Service

While digital solutions are at the forefront, traditional customer service has not lost its importance. If you're skeptical about conducting the money transfer yourself or if you face any issues during the process, calling customer service is an excellent option. Both CIBC and RBC have dedicated helplines for these services.

• Dial CIBC's helpline number: 1-800-465-2422.
• After going through the automated responses, select the option for "Money Transfers."
• Provide the executive with the necessary information such as your account number, RBC as the recipient bank, and the RBC account details.

Transfers conducted via customer service might take a slightly longer time due to the verification processes. Nevertheless, this method provides a higher extent of guidance and reassurance for users uncomfortable with digital platforms.

In conclusion, transferring money from your CIBC account to an RBC account is pretty straightforward, whether you want to use online banking, a mobile app, or the old-fashioned way of calling customer service. Regardless of the method, always ensure to verify and confirm all the entered details before initiating the transfer.