CIMB SG closing my acc, To keep SGD or convert to MYR
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 Nov 6 2021, 07:51 AM
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#1
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All Stars
24,333 posts Joined: Feb 2011  
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QUOTE(Hansel @ Nov 5 2021, 06:39 PM) Must have more than one bank acct and one brokerage acct in SG. I am more interested to know why his account was flagged and subsequently close. Banks don't just simply close account. Could be because he didn't reply to emails from CIMB requestion for clarification or sourced of money. After account close proceed to use sister account for same transaction. Hence got flagged as well. |
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Nov 6 2021, 12:40 PM
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#2
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All Stars
24,333 posts Joined: Feb 2011
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QUOTE(Thrust @ Nov 6 2021, 08:31 AM) Banks will close a customer's account when they are suspected for doing illegal activities or having suspicious fund movement. Also long as got proof where the money come from when asked by banks, no issue. Personal experience. CIMB sg asked me for proof of transaction and where the money came from because of my inward remittance using Sunway money. Send them everything and more and problem settle.They will not inform the customer reason for closure but they do have the records to substantiate it to the regulator if need be. |
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Nov 6 2021, 04:01 PM
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#3
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All Stars
24,333 posts Joined: Feb 2011
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QUOTE(MUM @ Nov 6 2021, 02:18 PM) After how many continuous transactions before they called you? After 7 years investing overseas.Or only 1x of SGD valued @xx transacted then they called you? |
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Nov 6 2021, 08:54 PM
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#4
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All Stars
24,333 posts Joined: Feb 2011
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QUOTE(MUM @ Nov 6 2021, 04:52 PM) With how many overseas transactions per month? One transaction every 3-4 months.How many of those transactions are inward transactions? & is it less than sgd 10k per transactions? previously a forummer posted regarding m'sia bank. MUM liked this post
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