CIBC Foreign Currency Business Account
Hold, receive, and disburse US Dollars and other foreign currencies without conversion costs. Integrated multi-currency banking for businesses with international operations.
USD Business Account Features
A CIBC US Dollar business account lets you receive payments in USD, pay US-based suppliers in their local currency, and hold USD balances without triggering automatic conversion. This eliminates the bid-ask spread costs that accumulate when funds convert to CAD and back on every international transaction.
- Hold and manage USD balances directly
- Receive USD wire transfers and ACH payments
- Issue USD cheques and make USD payments
- Avoid double-conversion costs
- Competitive FX rates when conversion is needed
- Integrated with CIBC digital banking
- CDIC insured (CAD equivalent)
Cross-Border Business Banking
Canadian businesses engaged in cross-border trade lose significant value to currency conversion fees on regular international transactions. A CIBC foreign currency account provides natural hedging by allowing you to collect in the currency you pay in.
For businesses with significant USD exposure, the Enterprise Account includes an integrated USD sub-account as a standard feature. For other account tiers, standalone foreign currency accounts can be added to your CIBC business banking relationship.
CIBC treasury services offer additional FX risk management tools including spot and forward contracts for businesses needing to lock in exchange rates for future transactions.
Common Questions
Yes. CIBC offers US Dollar business accounts that let you hold, receive, and pay in USD without automatic conversion. This eliminates double-conversion costs for businesses with regular cross-border transactions.
Yes. The CIBC Enterprise Business Account includes an integrated USD sub-account as a standard feature at no additional cost. Other account tiers can add a standalone foreign currency account.
CIBC Digital Business foreign currency accounts allow businesses to hold and transact in USD and other currencies. The CIBC Digital Business Enterprise Account includes an integrated USD sub-account to eliminate conversion costs on cross-border transactions.