CIMB Malaysia and Singapore
 

I've got accounts with CIMB Malaysia and online banking and I see some interesting looking tabs online where you can click into CIMB Singapore :sneaky:

I've also noticed that on the CIMB Singapore website that their deposit interest rates (for certain currencies) are way way more interesting than CIMB Malaysia....and that is just the bog-standard rates (not CIMB preferred).

I'm just wondering if anyone has any experiences of using both CIMB Malaysia and Singapore and how easy is it to switch funds between the two. Anyone?

Re: CIMB Malaysia and Singapore
 

I noticed the same, so I use both and opened a Singapore account through the Prima T office here in Penang.
No problem at all.

Re: CIMB Malaysia and Singapore
 

OK that's great, Gunnar. Thanks.

Re: CIMB Malaysia and Singapore
 

Interested to hear how this story continues. CIMB at the moment has the best chances to become my future bank in Malaysia. They give a great rate for the fixed deposit. At least for the first year, then things will get interesting...

Re: CIMB Malaysia and Singapore
 

It depends what currency you're talking about. And with CIMB, I think both Sing and Malaysia, the rates are tiered depending on size of deposit and tenure I.e. The bigger the deposit and the longer the tenure, the higher rate you get. Not always the case with other banks .

I'm currently looking at AUD deposits. The difference on the rates online between CIMB Malaysia and CIMB Singapore is huge.

I'm having a few legal battles with CIMB at the moment so I won't say everything I want to say just yet :sneaky: suffice to say that I am not a happy bunny with them at the moment .

Re: CIMB Malaysia and Singapore
 

Hmm, AUD, never thought about this currency. Maybe I should.

I am talking about RMB and SGD.

The website of CIMB MY for this is not too useful as it is "Last Updated: Tuesday June 23 2015": Rates & Charges

The Singapore website is up to date and has brillant rates for RMB savings!

If your legal battles could be of any interest for a MM2H collegue that wants to open his account and MM2H fixed deposit there, please send me a private message ;)

Re: CIMB Malaysia and Singapore
 

Just a small update on this.

Yes you can open up accounts fairly easily with CIMB Singapore via CIMB Malaysia. I've done it now but the account is empty :lol:

You need to figure in whether you're going to be shifting money around a lot. Moving money to Singapore via CIMB fairly cheap - a TT charge of equiv USD 2. But going back in the other direction (Singapore to Malaysia) it costs SGD 50. That's currently around RM 150. Quite a hefty charge.

What I am discovering (much like the guys in the Car buying topic) is that quite a lot of things can be "negotiated" face-to-face, not in writing.

I had a good face-to-face meeting with my contact at CIMB here the other day. And we thrashed out what is wrong, what has been wrong, and how to fix the problems. Basically I want Hassle Free Banking and some good Interest rates. They want to keep me as a Customer. We worked it out. Obviously not going to put details on an open forum but just saying Talk to people here and see what can be done. Ask and it will be Given ;)

Re: CIMB Malaysia and Singapore
 

I have similar experiences with CIMB bank here, I mean that some of their procedures can be quite irritating. But on the whole, I prefer them over HSBC here.
CIMB interest rates are better and they have more offices around with preferred customer facilities.
Also, if you travel a lot in the region, their lounge access program for preferred card hlders is very convenient and if you open accounts in Singapore you will have the same benefit with their preferred card(s).

Re: CIMB Malaysia and Singapore
 

David Yang, you may find this post of mine, from another thread of interest, updated as it's now not 3 weeks ago:

We placed our MM2H FDs with CIMB bank 3 weeks ago (early March 2015) at 3.8%, all we needed was our passports, MM2H approval letter and proof of address (utility bill).
On our next visit to the branch the manageress advised us that the FD rate available during March had now gone up to 4.2%. All in all I found CIMB Port Dickson very easy to deal with, they knew all about the MM2H scheme and made the whole experience simple and easy. We opened a joint standard savings account with them as well to use as an everyday account, that gave us an ATM/Mastercard debit card. Their online app 'CIMB Clicks' is good too. The only issue we had was that you have to go in via the app or at an ATM and set all the limits for various transactions. They hadn't mentioned that, but until you do the initial settings are zero, so you can't use the cards as the system reports that you have exceeded the limit. Once we discovered that requirement, via the helpline after some failed transactions, we were up and running. CIMB were much better that Maybank, the person we spoke to there had very sketchy knowledge and the best FD rate offered was 3.3%, plus they wanted to see our marriage certificate before opening a joint account.

Re: CIMB Malaysia and Singapore
 

One remark related to CIMB Clicks: you need to have a mobile phone with Malaysian phone number as they send a PIN code for each action as SMS message. I didn't have a mobile phone number yet and was thus unable to sign up for CIMB Clicks.

Re: CIMB Malaysia and Singapore
 

There's supposed to be a CIMB App now that will generate the required TAC (I think). I haven't actually checked it out. Maybe someone else can comment.

Re: CIMB Malaysia and Singapore
 

Indeed there is BB, it's called CIMB Clicks and is simple to use. And now I've read the post above yours I can add that I keep a Malaysian sim card in an old phone I have for that purpose. I can then use the app wherever I happen to be, as long as I have a mobile signal.

ST

Re: CIMB Malaysia and Singapore
 

Aha. Think I might check that out today.

Re: CIMB Malaysia and Singapore
 

For payments via CIMB Clicks there is the option to select either 'TAC via SMS' or 'TAC on device'.

I got a little TAC generator from the bank so I don't have to worry about switching on my MY mobile when abroad.
I think there was a charge for it, not sure it was some years ago.

Re: CIMB Malaysia and Singapore
 

The option of "TAC on device" was not offered to me. I complained that they basically require me to have a mobile phone for CIMB Clicks and that other banks provide options for people who don't have a mobile phone. CIMB did not have an answer to that.

They told me to first get a Malaysian mobile phone and register the number at an ATM or at a branch office. After you've done this you can apply for CIMB Clicks online. I haven't completed this procedure yet so I can't share my experience.

Re: CIMB Malaysia and Singapore
 

SushiFan,
When you visited the branch, did you ask for the TAC on device option?
Or maybe a mobile is required to initially register?
I don't remember if that was the case, but the 'TAC on device' option is surely there when making online transactions through clicksonline and if I remember correctly I had to pay for getting the TAC generating device.

Re: CIMB Malaysia and Singapore
 

CIMB stopped offering TAC devices more then 1 year ago.
They gave no explanation.

Re: CIMB Malaysia and Singapore
 

Strange, haven't heard about that one.
But my device worked fine yesterday.
See also:
Welcome to CIMB Clicks Malaysia
No word about the device not being available.

Re: CIMB Malaysia and Singapore
 

CIMB works in mysterious ways :sneaky:

Re: CIMB Malaysia and Singapore
 

Gunnar, I have not yet visited a branch office. At least for the initial stage is a mobile phone required. I don't know whether multiple options are available once the initial registration has been completed.

Re: CIMB Malaysia and Singapore
 

Probably I'm wrong here and they stopped not issuing of new TAC devices but just buying of these devices via CIMB Clicks.

I bought my device via CIMB Clicks 5 years ago and it was really easy and convenient to use.

I tried to google how to get TAC device but could not find any info.

Re: CIMB Malaysia and Singapore
 

To update my experience with CIMB Clicks: I was able to register my Malaysian mobile phone number at an ATM machine. And then able to proceed with my online registration for CIMB Clicks. An SMS was sent with a verification code.
After my registration had completed was I given two options for future confirmation codes. Either have a confirmation code sent by SMS each time when you need it. Or have "TAC on device" which means that you need to run an app on a tablet or mobile phone.
The bank does not offer a specific device which can generate TAC codes.

Re: CIMB Malaysia and Singapore
 

SushiFan
CIMB works in strange ways indeed.
After writing to my CIMB 'Relationship Manager'on Dec 22 to get some clarifications on this, he responded that the TAC generating device has NOT been cancelled.
But then again, this may only mean that you can continue to use the one you got.
Anyway, I now installed the mobile app as well, thanks for the info regarding this.

Re: CIMB Malaysia and Singapore
 

I have my CIMB account set to SMS my UK number after I let the Malaysia PAYG expire. I had to go to the branch to request to use a non Malaysian number, they said 10 days to switch it took only 3 or 4.

Re: CIMB Malaysia and Singapore
 

Ian, I agree with you. Once you have set it up, using a Malaysian mobile phone number, can you switch to a non-Malaysian phone number. My comment was directed towards the initial setup of CIMB Clicks. That initial step seems not possible if you don't have a Malaysian mobile phone number.

Re: CIMB Malaysia and Singapore
 

we don´t have a proper Banking in MY Thread (or i did not find it), so i use this.

As you might have noticed it is very difficult to get a proper credit card here. Some banks refuse foreigners completely, even with MM2H visas.

Any success stories from MM2H holders with premier or preferred status in terms of getting a credit (not debit) card with no fuss?

Re: CIMB Malaysia and Singapore
 

Not MM2H, in fact as yet not resident and I have CC from HSBC premier. It came with the high interest deposit account. CIMB offered but I din't see the need for two cards as yet

Re: CIMB Malaysia and Singapore
 

I have got a CIMB preferred credit card but, actually, it doesn't really act like a credit card 'cause they expect full payment within a certain time.

Re: CIMB Malaysia and Singapore
 

My wife and I are on MM2H have our Fixed Deposit (FD) accounts with CIMB and now have CIMB Preferred Visa credit cards. We just needed to open a separate FD account with a sum of money equal to the credit limit agreed. Very simple and no hassle at all.

Re: CIMB Malaysia and Singapore
 

So this means that if you want a credit card with e.g. 10,000 RM credit limit you need to deposit 10,000 RM in a separate FD account? Do you get any interest over this deposited amount?

Re: CIMB Malaysia and Singapore
 

Yes, that's exactly right and you do get interest, just like any other FD. The only difference is the FD is associated with your credit card account, so you deposit as much as you want your credit limit to be.

Re: CIMB Malaysia and Singapore
 

We used to have this when I was a We. But now I don't have a FD associated with the credit card. Maybe it's because I look honest :nod:

Re: CIMB Malaysia and Singapore
 

:sarcasm:

Re: CIMB Malaysia and Singapore
 

Maybe because you would have built up some credit history you were considered a good risk BB :thumbup:

Re: CIMB Malaysia and Singapore
 

Yes, I think it is also related to credit history, meaning that after time of being a good (and honest loooking :sneaky:) customer they may grant you higher than your FD's in the respective bank credit limits.
But paying the card debts via monthly instalments and not full payment of each monthly bill carries quite a high interest charges!