Banking

New faculty may have questions about banking and financial matters. This is particularly true for those coming from outside Canada. To ensure that faculty joining the University of Toronto have as smooth a transition as possible, the University has arranged for comprehensive and highly personalized banking services through the Canadian Imperial Bank of Commerce (CIBC), Main Branch Commerce Court West.

Among the features available through the CIBC program are:

  • Opening bank accounts prior to arrival (Please note, you will need to speak to the CIBC Financial Advisors listed below to determine what can be done during this time of COVID 19)
  • Transfer of funds from outside the country and conversion to Canadian currency
  • Competitive loan rates for personal and new car loans
  • Visa credit card applications (subject to approval) and debit cards
  • Lines of credit
  • Access to electronic banking services
  • Investment and retirement planning

This program is optional. Faculty may choose to bank with the financial institution of their choice.

Newly appointed faculty can take advantage of this arrangement with the CIBC Main Branch Commerce Court West, 199 Bay st. by contacting our CIBC Financial Advisors

On-campus appointments can be arranged.