CIBC foreign currency fee is 2.5%
By Karla CastroUpdated October 31, 2026
CIBC's credit card summary says you pay the same conversion rate CIBC must pay, on both debits and credits, plus a fee of 2.5% of the converted amount, on both debits and credits. The summary says it does not apply to Simplii Financial credit cards. It does not name a CIBC card with no conversion fee.
The 2.5% on debits and credits
Opened 31 October 2026. Foreign currency transactions, except CIBC convenience cheques, are converted to Canadian dollars, or to U.S. dollars for the CIBC U.S. Dollar Aventura Gold Visa card. Conversion happens on or after the transaction date and no later than the posting date. You are charged the conversion rate CIBC must pay, plus 2.5% of the converted amount. Both the rate and the 2.5% apply to debits and to credits. A foreign currency convenience cheque or payment uses CIBC's branch selling rate instead.
The 2.5% is part of the converted amount posted to the account. The statement may show one line for the purchase rather than a second line named foreign transaction fee.
What this summary does not cover
The summary says it does not apply to Simplii Financial credit cards. A Simplii percent was not on this CIBC document, so this page does not invent one. It also does not name a CIBC personal card that has no 2.5% fee. Match the card on your statement to its own disclosure before you treat 2.5% as your rate.
A merchant that charges you in Canadian dollars for a purchase priced in another currency is dynamic currency conversion.
Upload the statement on Expenvo. The PDF stays on your device. Expenvo lists the lines. It does not sign in to the bank, and it does not move the money.
Questions
- How much is the CIBC foreign currency fee?
- The credit card summary charges 2.5% of the converted amount, on both debits and credits, on top of the conversion rate CIBC must pay.
- Does CIBC name a card with no foreign currency fee?
- Not in the summary opened here. The summary does say it does not apply to Simplii Financial credit cards.
- Does the 2.5% apply to a refund?
- Yes. The summary says the fee is charged on both debits and credits.