I'm having an issue doing my first transfer using CIMB MY, i got asked to put the Transaction Instruction, I can't seems to find one for "Personal Transfer" What did you guys put for fund transfer between Own account to "still" your own account but at Singapore? it's for investment, not sure if this is new as Ringgitfreedom website no mention about this.

Thanks in advance!

i put gift....well, gift to myself

NOt sure what will happen if i put investment. Later LHDN cari me for makan session....
I rmb i put Other b4.

Anyway, this is for AML and KYC purposes


This post has been edited by taitianhin: Mar 30 2022, 11:36 AM

Ya, i'm thinking of just put Others-> Others -> then write the reason at others.... i tried going through the CIMB FAQ..... i wonder why they wanna make it so complicated.

https://www.cimb.com.my/content/dam/cimb/pe...-of-Payment.pdf

Transfer Funds

CIMB CLICKS ONLINE BANKING
..........

*Note: Effective 1st July 2017, you may be required to select the Purpose of Payment for transaction where amount is more than RM 10,000.99. Please ensure that you select the closest according to the intention of your transfer. The 'Purpose of Payment' declaration is a compulsory Bank Negara Malaysia requirement.

https://www.cimb.com.my/en/personal/help-su...-cimb-bank.html

This post has been edited by MUM: Mar 30 2022, 11:53 AM

I got a gut feeling are they trying to know how many Msia transfer monies to SG bank account and from there use it as a proxy take to invest earn monies never declare back to govt? But this kind of stuff is very very hard to verify with so many accounts and so many transactions. So I guess it is there for show a white elephant so common.

i macam put others.

Yes, n perhaps can tally check if those a/c had been stated in the income tax return too, under..
D5 Has financial account(s) at financial institution(s) outside Malaysia

I can't find the second Others... LOL~ 1st = Others = the sub section don't have others... I ended up just use follow the 1st reply Current transfers -> Grants and gifts -> Remark "Gift to myself"

This is similar the reverse way many years in Spore the govt say if we buy HDB (govt subsidized) in Spore we cannot have another property in Msia under our name. Tell me how are they going to check each one unless some ppl whistle blow isn't it? You are crossing a country jurisdiction unless both countries work hand in hand which I think highly unlikely.

Will you be performing many transactions subsequently and all put under "Gift to myself" ? Maybe need have some variation else will arouse suspicion you so many "Gift to myself" transaction.

I think currently they hv an agreement within a grouping of govts... Where they will share banking details of the citizens of individual members
that has banking details with its members on that grouping... Ex: Msians with banking details in sg... Sg govt will reports them to Malaysian n vise versa

Subsequent transaction will be done via Wise, so i don't think it will matter much. Thanks everyone!

Hi guys, i manage to link cimb sg to cimb my. Next step is transferring fund to cimb sg, but not sure how. Is it under transfer > foreign transfers in the cimb clicks app?

yeah