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

In today's digital age, transferring funds from one bank to another has become a breeze. If you are a Royal Bank of Canada (RBC) account holder and need to transfer money to Canadian Imperial Bank of Commerce (CIBC), there are multiple ways to do it. These alternative methods are tailored to meet your needs and are optimized for your convenience. This article will guide you through these processes step by-step and ensure the least hassle along the way.

Option 1: Online Banking

You can initiate a fund transfer from RBC to CIBC through the online banking platform. Here's a detailed guide on how to do it.

• Sign in to your RBC Online Banking account.
• On the dashboard, select the ‘Pay Bills and Transfer Funds’ option.
• Choose the RBC account from which you want to transfer the money.
• Click on 'Add Payee' and search for CIBC. Follow the instructions to add CIBC as a payee.
• Enter the account number and other details of the CIBC account you are transferring money to.
• Once the account has been added, select it, input the amount you wish to send, and confirm the transfer.
• Wait for the transaction confirmation. Save this information for future reference.

Option 2: Mobile App

Transferring money between banks can also be done using the RBC Mobile app. The steps are similar to those of online banking, and it gives you the convenience of making transactions on-the-go.

• Download the RBC Mobile app from Apple Store or Google Play.
• Log in to your RBC account using your user ID and password.
• On your account dashboard, tap ‘Transfer’.
• Select the RBC account you wish to transfer funds from, then tap 'Add Payee'.
• Search for CIBC in the list of banks.
• Input the CIBC account details, review the information, then confirm to add it.
• Now you can select the CIBC account, input the amount of money you want to transfer, and complete your transaction.
• A confirmation message will appear. Save this for future reference.

Option 3: Customer Service Call

If you're not comfortable using online platforms to transfer money, a third option is to call RBC's customer service. They can guide you through the process or even complete the transaction for you.

• Get your account details and the information of the CIBC account you wish to transfer money to handy.
• Dial RBC’s customer service number.
• Follow the automated prompts to reach a money transfer specialist.
• Provide your account details, the CIBC account details, and the amount to be transferred to the representative.
• Follow their instructions to authorize and complete the transfer.
• You will receive confirmation of your transfer. Keep this information for your records.

Whether you choose online banking, mobile app, or customer service call, transferring money from RBC to CIBC is simple and quick. Just choose the method that works best for you.