This is in regards to CIMB Singapore FastSaver Account.


For those who prefer to use a physical hardware token over digital token, you should be able to request CIMB Singapore to send the physical hardware token to your residential address in Malaysia, via post.

Malaysian. Like very troublesome to open any account in Malaysia now.
Need a lot of verification

Nope. Just to go bank and ask for free basic savings account from CIMB. Reason just out savings. Staff will denied such account exist. Show them CIMB own page.

Hi guys, newbie here..
If successfully open CIMB SG account, any limit on funds that you can transfer to that account?
Will BNM check if say, every month transfer few thousand RM out to CIMB SG?
Thanks and sorry if it's a noob question.

If you have no debts you transfer unlimited amount.
If you have debts max is RM1M/year.
As per bank negara.

Of course if you transfer more than what your salary is get ready for sg banks to questions you. And give them proof where money is coming from.

Yo bro thanks for the reply.
And if I shift money back into CIMB Malaysia, will it trigger anything?
So I just prove that I sent the money to CIMB SG in the first place, and now I am transferring it back?
Thanks.

Edit: just to be clear, with the current economic climate in Malaysia, I feel it is safer to park a part of my savings in SG for stability as well as planning for my children's education. But if I need the money due to emergency, I will need to transfer it back to Malaysia.

This post has been edited by torres09: Apr 27 2021, 04:37 PM

No issue. But keep bank statement and say record of selling of your shares in case they asked.

Keep in mind from now on, every year during efilling of LHDN, you need to tick the box I have overseas bank acocunt. Better safe than sorry cause Malaysian govt already know you have overseas bank account (cooperation with sg govt) Failing to tick that box means you are trying to hide your overseas bank account.

Hi. I just created an account for CIMB SG and initiated account linking from my CIMB MY account. Normally how long will it take for them to verify and approve this? Also normally what is the phone no. that they will use to call me for verification purpose?

2 weeks like that
Phone number for OTP.

I'm planning to do this once I open my CIMB MY account. Opened online but need to visit branch to activate and collect debit card.
I noticed CIMB SG opening FastSaver account, part of the requirement is SG PR, work permit or something. So it doesn't matter?

I just got off the call with the CS, the linking supposed to be 5-7 working days so anything longer can call and they will raise a case to expedite it.

FastSaver no need, can open even if you are MY but you won't get the debit card i think.

Im opening basic saving account, but they r asking a lot of questions, like purpose of opening and ask me to provide a valid document to support it(wth?). Which like they are giving you trouble to open, complaint to CIMB and the customer service replied decision for opening account is all up to the branches(wth?!).
Guess i have to find an easier branch?

It is up to branch, they said similar stuff too last time.

This post has been edited by thecurious: Apr 27 2021, 07:50 PM

Just tell them you are just using as your first bank account. You don't have any bank account yet. For saving purpose.

neshineo, my dude got ya (read above).

BNM make it compulsory for all banks to offer Basic Savings Account to the public with minimal requirements / documentations (IDs, Company letter, funds, etc.)

For more info read below.

Banking Institutions to Offer Basic Savings Account and Basic Current Account

Download PDF - Basic Banking Services

You can make a complain if they refuse you without any valid reason here bankinginfo

Guess it is not very convincing though. As i'm 30y/o d. Think they will be asking which bank your company paying your salary. And Malaysia labor law stated that employer can't pay employee salary by cash. So..
Craps, why is it so hard to open a saving account.

Is it legal to ask my employer to pay salary in cash?
Would it be possible / within my rights to ask my employer (MNC) to pay my salary in cash instead of banking into savings account with banks?

Yes. Under Section 25 A (1) of Employment Act 1955, once you request (by letter) that your salary to be paid by cash or cheque, your employer must comply. This is law.

25 A . (1) Notwithstanding subsection 25(1), an employer may, upon a written request of the employee, other than a domestic servant, make payment of his employee’s wages—
(a) in legal tender; or
(b) by cheque made payable to or to the order of the employee.
https://www.lawyerment.com/answers/question...-salary-in-cash

Payment of wages other than through bank

25A. (1) Notwithstanding subsection 25(1), an employer may, upon a written request of the employee, other than a domestic servant, make payment of his employee’s wages—

(a) in legal tender; or

(b) by cheque made payable to or to the order of the employee.

(2) In the case of a domestic servant, the employer shall, upon the request of his domestic servant, obtain approval from the Director General for the payment of wages of the domestic servant to be paid in legal tender or by cheque.
more
http://www.pesaraonline.net/part5.htm

This post has been edited by MUM: Apr 29 2021, 10:29 PM

Wow, this sound promising. Guess i would show them the site if i got rejected again. Will try tomorrow. Thanks for all the info. Wish me luck. =D

Don't be so nice. You shouldn't have mindset that you have to convince them to 'let' you. The account should be made available for the public, tell them if they don't let you complain to BNM. Ask for the manager to come out and take down his/her name.

I managed to open another international bank in SG without presenting there.. hhuu