CIMB offers reimbursement scheme for foreign remittance

CIMB Preferred customers can get up to $24.31 per day.

Customers at CIMB Bank and CIMB Islamic BHD's affluent banking segment can get the chance to avail of a reimbursement of up to $24.31 (RM100) per day if they provide proof of a lower published foreign remittance rate from any other commercial bank, reports New Straits Times. 

Also read: Malaysian banks hike salaries by up to 12%

The offering is available for CIMB Preferred customers that remit $4,862.30 (RM20,000) and above at any branch or CIMB Preferred call centre. 

“Under our existing CIMB Preferred proposition, our affluent customers already enjoy a compelling suite of regional banking convenience and lifestyle privileges and we are excited to introduce this guaranteed rates for foreign currency exchange to them,” said CIMB Group chief executive officer of consumer banking Samir Gupta.

The CIMB Preferred proposition offers customers with the benefit of cross-border account opening in any country for an account in a different destination country, free fund transfers, lower forex rates and priority banking service.

Get Asian Banking & Finance in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banking leaders admit that they are at risk of ceasing to exist in 5-10 years.
It creates a one-stop ecosystem that connects its users to EV car dealers.
It enables end-to-end visibility for both the user and their clients.
FIs role as the middleman is under threat as tech firms mull offering financial services.
The final order book saw that most demands come from the UK and EMEA.
Fund transfers from India to Singapore will only need mobile phone numbers.
The alliance, made up of 35 NGOs, noted the bank’s alleged lack of a public policy to reduce coal investments.
Banks’ credit costs are expected to undershoot their guidance.
BEA highlights hiring plans, whilst Citi says it will offer 100 types of wealth products under WM Connect.
Stress test shows NPL ratio likely to rise, but not to levels PBOC expects, the ratings agency said.
Lenders will have to reduce cross-border fees once CBDCs become more mainstream.
Users will be able to set spending limits and block cards, amongst other features.
And Mastercard bets on crypto with acquisition of CipherTrace.
He Xingxiang is suspected for “severe discipline and law violations.
Two local digital currency exchanges said that none of the top four banks would do business with them.