time to get in the media I reckon to highlight this

anyone has contact?

After I sent the complaint to BNM, CIMB replied me as below: -

We thank you for your enquiries dated 30/10/2015.

We appreciate your letting us know on your concern over the new utilization fees that the Bank will be imposing with effect from 1st December 2015.

In our letter to you, we have drawn to your attention on the benefits of utilization your drawing limit and the non utilization of the drawing limit.

Having explained the above, if your utilization rate is below 70% and in order to avoid the flexi charge, we have made available the following options for your consideration:

1. If your excess payment is =<30% (Utilisation >= 70%) - Flexi Charge of RM40 is NOT applicable

2.If your excess payment is >30% (Utilisation < 70%), to avoid the Charge, we have available the following options:
a.You may consider to reduce the Facility Limit by completing the form attached to your letter.  The recommended reduction is already pre-completed in the form (if customer does not have the form, to help customer to complete a new form or contact call center to take instruction to perform request over the phone).  In the event where you need the funds, you may request for reinstatement of Facility Limit, subject to bank’s approval
b.You may also choose to withdraw the excess payment, our Representatives will be happy to walk you through on our exciting FD and CASA offer>30% (Utilisation <70%)
3.This way, you can continue to have the flexibility of excess payment up to 30% without the Charge
4. For us to continue servicing you with the flexibility of excess payment >30% (utilisation rate <70%), we are with approval from regulator imposing the Flexi Charge of RM40 which is relatively small compared to the interest savings benefit. 

We trust the above clarifies and we appreciate on your continuous support and understanding.

got this reply from cimb when i ask her to show me the black and white


'We are unable to provide such details as per your request.

However as per my earlier e-mail to you, we can assure you that the Regulators have been consulted prior to our decision on the variation charges and the Bank is given approval as it is within Regulatory Fees Guideline.

Thank you and warm regards'

in return i told her i do not accept your explanation without any black and white!

I got the reply from CIMB bank and they CC the email to BNM. Basically CIMB is going to charge us. Nothing special
I also call the lawyer that helped me to prepare the loan agreement, she said that we could not do anything if CIMB insist to charge us. She also worry that other bank might follow CIMB for the charges   .

This f**king kind solutions from the letter by CIMB

--QUOTE--
Having explained the above, if your utilization rate is below 70% and in order to avoid the flexi charge, we have made available the following options for your consideration:
1. You may reduce your drawing limit by writing to us officially.The Bank may allow the reinstatement of your prevailing drawing limit should you require to redraw the funds in the future. This way, you will not only continue to enjoy interest savings, but also have the comfort of redrawing your excess funds without incurring any additional charges.
2. You may also choose to withdraw the excess payment. For further information you may contact our Call Centre at 1 300 880 900. Our dedicated representatives will be happy to assist you through on our exciting deposit and wealth management products available for you.

We trust the above clarifies and we appreciate on your continuous support and understanding.

--UNQUOTE--

I only can say F*** CIMB for the continuous support and understanding       . Still thinking of cheat my money for the deposit and so call Wealth Management products. Those products only help CIMB get their wealth not us.

I received a call yesterday from cimb. They says the rm40 charges will be applied for new application. Existing flexi users won't have to bear the rm40 if utilisation falls below 70%. They will send a formal replies next week. I am not sure I hear correctly as I am driving when he called me, if it turns out to be true, look like our mass complaints works..

err.... so if its really not easy to hit that criteria, why bother charging the RM40 in the first place and pissed off your customers big time??

think your reasoning is a little off..

just got a call from CIMB CRU, says their management has made a final decision on this and will update us via letter.

pushed them to reveal what's the verdict but CRU said can't reveal but told me its a 'favorable' decision to 'keep customers happy'

hopefully I'm not interpreting it wrongly

Got this from my CIMB agent. So folks, please keep writing to BNM

Congrats to all existing flexi customer.
I am still quite surprise that they want to implement this on their new flexi customers....

25% is not small group. 19400 x 40 = 776k every month. Can pay a lot of staffs salary dy...
However, agree with this action might cause lose a lot of potential customer, unless their rate still attractive than other bank.

dont forget. you have paid thousands in legal fees. Leaving octobank means all your legal fees burn.
and in new bank u need to pay all over again.
everyone in LY too c flexi because low interest rate and can bank in withdraw anytime.
we are fine with RM10.00 fee which is stated in the LO.
The produce disclosure sheet also mention that in the event you bank in more, then u will pay less interest charges for your loan.
This is what we did. Consumer did nothing wrong.
Its C bank begining to realise that many ppl with flexi loan are cash rich and RM10 is not sufficient to cover thier expenses.
C bank even pay their loan office top dollars promoting this product. In the end, bank earn RM10.
This C bank even force you to buy insurance from them.
My agent quote me 2k for the same insurance the C bank charge me for 3.5K

receive nothing!

With receipt of the letter, finally an amicable solution is reached...

I just checked with CIMB loan officer, triple confirmed the RM40 charge still applicable for those not fulfill the 70% requirement. Is applicable to loan which is fully disbursed.

dont worry bro, i think it's for islamic only as my friend get a letter from cimb a couple of months ago. jangan takut. lol