Buy Bitcoin with CIBC

[✓] last verified 2026-01-28·Reviewed by BankToBTC Team

Data from bank docs & FINTRAC registers · How we verify · Report an error

Allows transfers to crypto platforms.

Crypto Compatibility Score: 79/100 (Good)

Score Breakdown:

  • Payment methods: 33/35 pts — fast deposit rails available
  • Bank transfer reliability: 17/25 pts
  • Limits: 12/20 pts
  • Cost: 10/10 pts
  • Evidence: 7/10 pts

Supported payment methods: interac-etransfer, eft-canada, wire

Last verified:

Quick Verdict

CIBC doesn't offer crypto and often declines card payments to exchanges. Use Interac e-Transfer to fund a regulated Canadian platform instead.

  • [✗]

    Can you buy Bitcoin in the app?

    No, use an external exchange

  • [✓]

    Can you fund an exchange?

    Yes, using Interac e-Transfer

  • [›]

    Best funding method

    Interac e-Transfer

  • [!]

    Potential issue

    Card purchases often declined

Top Exchanges for CIBC

Step-by-step guide to buying Bitcoin with CIBC

CIBC works best when you use Interac e-Transfer to fund a FINTRAC registered exchange. Use the steps below to begin.

  1. Pick a FINTRAC-registered exchange
    Use a FINTRAC-registered MSB to reduce failed e-Transfers.
  2. Create your exchange account
    Register and enable two factor authentication.
  3. Complete identity verification
    Verify identity before depositing.
  4. Get Interac e-Transfer deposit details
    Select Interac e-Transfer deposit and note the recipient email and any reference text.
  5. Send Interac e-Transfer in the CIBC app
    Open the CIBC app, tap Transfers then Interac e-Transfer, add the recipient email, and send; first transfers can be delayed if your recipient list is new.
  6. Wait for funds to arrive
    Autodeposit is often minutes, but first transfers can take longer if checks trigger.
  7. Purchase Bitcoin
    Buy BTC once credited.
  8. Secure your Bitcoin
    Use a personal wallet if you want self custody.

[!] Troubleshooting

  • If card deposits are declined, switch to Interac e-Transfer since card crypto merchant declines are common.
  • If an Interac transfer is pending, confirm whether the exchange uses Autodeposit; otherwise answer the security question exactly.
  • If a first transfer is held, wait for fraud review to clear and avoid rapid retries.

Frequently Asked Questions

Can you buy Bitcoin with CIBC?

Yes, but CIBC users should expect tighter rails than some competitors if you push limits quickly. Interac e-Transfer is the primary funding method for many Canadian platforms, and EFT can work when a platform supports bank linking. CIBC Investor's Edge does not sell spot Bitcoin in banking, but brokerage accounts can buy listed crypto ETFs.

What are CIBC's published Interac e-Transfer sending limits for exchange deposits?

CIBC publishes common sending caps of $3,000 per 24-hour period, $10,000 per 7-day period, and $30,000 per 30-day period. If you need more than that, use an EFT link if the platform supports it rather than stacking multiple e-Transfers. Staying under the cap also helps reduce fraud triggers.

CIBC e-Transfer setup: Autodeposit or security question for exchanges?

Autodeposit is safer when the platform supports it because it removes the security-answer step. If you must use a security question, keep it short and consistent, and avoid punctuation that can be interpreted differently. Many failed deposits are just mismatched answers.

How long does a CIBC Interac deposit take to show up on an exchange?

When Autodeposit is used, Interac deposits can land in minutes. Delays usually happen on first-time payments or when your transfer is close to your rolling limit. If time is critical, send a small test amount first and then send the remainder once it is confirmed.

Can I link a CIBC chequing account to an exchange using EFT?

Yes, if the platform supports Canadian EFT. EFT is slower than Interac e-Transfer, but it is often better for larger recurring deposits and withdrawals once the link is verified. Expect account ownership checks before higher limits are enabled.

Does CIBC block crypto exchanges in Canada?

CIBC does not publish a universal block list for all platforms, but transaction monitoring can still stop payments that match fraud or scam patterns. Using a FINTRAC-registered Canadian platform and keeping deposit sizes consistent can reduce interruptions. Verify the platform on FINTRAC before sending large amounts.

Evidence & Verification

This page references 4 sources: CIBC e-Transfer Guide, FINTRAC MSB Registry, EQ Bank EFT vs e-Transfer Guide. Information was compiled from official sources and user reports.

Sources:

How we verify · Report an error

Information can change without notice. Always verify current policies directly with your bank and exchange before making transactions.