fbpx
Connect with us

News

You No Longer Need to Pay Additional Fees When Making Interbank Transfers on CIMB

Published

Malaysians Can Finally Complete Interbank Transfers On Cimb For Free - World Of Buzz 2
Source: Amanz

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Almost everyone with a bank account uses online banking to settle their various payments. However, getting charged for transferring to different banks is definitely one thing many of us don’t like about online banking. The more transactions you make, the more you’ve to pay! 

However, it looks like CIMB Bank has finally addressed this problem, and it looks like we don’t have to worry about additional fees for fund transfers anymore! Yay! 

According to the New Straits Times, CIMB Bank is officially waiving the fee for interbank fund transfers via CIMB Clicks or CIMB EVA mobile banking. Now, interbank transfers will not carry any fee regardless of how much money is being transferred!

Malaysians Can Finally Complete Interbank Transfers On Cimb For Free - World Of Buzz

For illustration purposes | source: twitter

The bank clarified this in a recent statement that both its RM0.11 Interbank GIRO (IBG) and RM0.53 Instant Interbank Fund Transfer (IBFT) fees would be wiped out starting immediately.

“Over the last three years, we have seen digital transactions grow by a Compound Annual Growth Rate (CAGR) of close to 40 per cent and mobile transactions by a CAGR of 90 per cent,” an excerpt from its statement reads.

In light of scrapping its interbank transfer fees, CIMB group CEO Tengku Datuk Seri Zafrul Aziz stated that the bank does not expect this to affect its non-interest income significantly. He was quoted by The Sun Daily as saying,

“It’s an amount that we can live with. What’s important is the benefit to customers over the long-term and how it will support a cashless society.”

What do you think of CIMB’s move to waive fees for interbank transfers? Let us know in the comments below!

 

Also read: Malaysian Lady Warns Others About Maybank Card After Getting Charged For ‘Failed Transaction’

Malaysian Lady Uses Maybank Card, Transaction Failed But Money Deducted 4 Times - World Of Buzz 6

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

My Post 1 2024 05 01T155000.772 My Post 1 2024 05 01T155000.772
News40 mins ago

4 People Have Died from Bongkrek Acid Poisoning After Eating at M’sian Restaurant in Taiwan

A Malaysian vegetarian restaurant chain in Taipei, Taiwan, is now under fire due to a food poisoning outbreak that has...

Feat Image Salary Increase Feat Image Salary Increase
News3 hours ago

PMX: Over 13% Salary Increase for Civil Servants Involving RM10 Billion Fund, Highest in M’sian History!

Previously, we shared how Prime Minister Datuk Seri Anwar Ibrahim teased civil servants about an imminent salary increment by the...

Feat Image Debit Lrt Feat Image Debit Lrt
News4 hours ago

M’sians Can Now Pay Using Debit or Credit Cards at All LRT, MRT, BRT & Monorail Stations

Rapid Rail Sdn Bhd, the operator of the Rapid KL public rail services, today announced that it has introduced a...

My Post 3 2024 05 01T103721.221 My Post 3 2024 05 01T103721.221
News6 hours ago

“Arrogant and cocky” – PJ Mayor Bashed for Shushing M’sians Who Gathered at MBPJ to Speak to Him

A couple of weeks ago, Parti Sosialis Malaysia (PSM) announced that they were organising a march today (May 1) to...

Collage 49 Collage 49
News23 hours ago

KTMB Explains the 1-Hour Train Frequency & Delays During Peak Hours, Says Upgrading Work in Progress

Effective April 22, KTM Berhad updated their schedules for the commuters and if you rely on the train to go...

Collage 16 3 Collage 16 3
News1 day ago

Study: Malaysia Ranks 25th in the World for the Most Billionaires in 2024!

Malaysian billionaires have a piece of the global wealth pie. They own various assets, from cash and real estate to...

Feat Image Powerball Feat Image Powerball
News1 day ago

Laos Immigrant Suffering from Cancer Wins USD1.3 BILLION Jackpot, 8th Largest in US History!

A 46-year-old man in Portland, USA made headlines worldwide today after he was announced as one of the winners of...

Feat Image Macc Perlis Mb Feat Image Macc Perlis Mb
News1 day ago

JUST IN: MACC Arrests Perlis Menteri Besar Over Alleged Abuse of Power

The Malaysian Anti-Corruption Commission (MACC) earlier today arrested Perlis Menteri Besar Mohd Shukri Ramli over suspicion of alleged abuse of...

Announcement

Latest Videos



TRENDING TODAY