Initiated a 5-figure duit now transfer to my CIMB bank account (saved as favourite account which means it went through a verification process during the adding to favourite step) but PBB put the transaction on hold for 12 hours!
Called up the bank hotline and CSO helped to "approve" the transaction after doing all the verification, but told me the money will be received after at least one hour - not immediately.

Now, while I can understand why the bank unilaterally put the transaction on hold and I admit I cannot remember when I last transferred to this CIMB account, I don't understand why the money cannot be released to my CIMB account immediately upon approval by the CSO.

I asked the CSO whether subsequent transactions today will also be flagged and he told me "most probably not" - which is not good enough for me. He gave me a phone number to contact their cyber something team. I called but nobody answered.

Moral of the story: if you need to perform an abnormal (by PBB's benchmark) transaction and it is time sensitive, you may want to take note of this.

Oh, and the 12-hour cooling period for transaction limit increase setting is silly (although it's practised by many if not most banks in Malaysia). It only makes users set an artificially high limit (defeating the purpose) because not everyone can afford to wait for 12 hours to perform time sensitive transfers.

End of ranting.

When I called up CSO and got it approved, was told need to wait one hour despite all the verification done by the cso before proceeding to approve it. I'm still waiting for my money to appear in my CIMB account.

Oh, forgot to mention: if we change hp and activate the secure app in new phone, we will need to either email them (and wait for someone to call us) or activate at their ATM. Then we wait for another 12 hours despite activating it at the ATM, or having someone from the bank verifying and activating. Lol.

But do they have to hold a money transfer from my PBB account to another bank account under my own name, and that account is in my favourite account list?

And after I got "interrogated" by the phone CSO, I still had to wait one hour for the transaction to go through.

But the email they sent to notify me that the tx is on hold has the name of the recipient which is me lo.

Can you please enlighten us how a 12-hour hold counters account takeover and identity theft for transfers to another account belonging to the same name?

That's because you spouted nonsense. When asked to clarify, you cannot explain yourself. I mean, why bother writing something that you are unsure of?

I asked the CSO whether my second 5 figure transfer to this account would be flagged too. He wasn't sure. I mean, if it's bnm guideline, there must be some clarity as to what's considered suspicious transaction. Is second transfer suspicious as well? Don't know.