Friday, September 04, 2009

Cheaper Interbank Transfer with CIMB

UPDATE: As of 20th January 2010... I noticed that CIMB is also charging RM2 for Interbank transfer. Sigh...

I am not good in personal financial management. Every 25th day of the month, I will be all screwed up. The bulk of my cash credited to my Maybank account (salary acc.) will be taken out and dumped to my CIMB account. Since ATM transactions only allow RM3000 of withdrawal per day, that is the amount that will be dumped into my CIMB account. On 1st day of the next month, all the auto-debit loans will be deducted from my Maybank account - home loans, car loans, ASB loan and loan sharks loan. As I've taken out most of the money and put them in CIMB, I had to transfer them back to my Maybank account. Sound silly huh? Why do I take it out in the first place? Trust me.. I don't have the answer for that myself.

There are some transactions involving non Maybank nor CIMB banks, such as my Ambank Islamic Home loan which I am serving 7.75% of interest, and my not less than 10 credit cards from various banks. Shell Citibank card - to pump petrol at Shell, Giant Citibank card - to shop for groceries at Giant, CIMB Malaysia Airlines - to purchase flight tickets, CIMB Air Asia, UOB One card for watching movies at GSC, Diners Club Sushi King, Diners Club Metrojaya, RHB Tesco, Jusco AEON Card, American Express and the list can go on. In a nutshell, name me the outlet, I have the perfect credit/charge card for it.

So these transactions will require interbank transfer. Few days ago I just realized that CIMB is charging lower for their interbank transfer. Maybank is charging RM2 for one transaction and CIMB is only charging 50 cents. That is 75% less!!!

Recently I read an article about CIMB is taking over Maybank in terms of Online Banking. Online retailers are seeing that people are starting to use CIMB Clicks more than Maybank2u nowadays. I do believe that the person behind 1Malaysia has something to do with it too. For 75% discount on interbank transfer charges... Hidup Satu Malaysia!

Lirik Lagu Malaysia Satu – Faizal Tahir

Ku teguh berdiri tiada lagi ragu atau gentar
Ku terus berani melangkah maju ke hadapan
Satu impian nyawaku pertaruhkan

Genggaman tanganmu,
semangatku terus membara janji ku pada mu,
harapanmu ingin ku laksanakan

Kau adalah ilham pada mereka yang ingin berjaya
Kau terus berjuang demi membawa perubahan
satu impian oh berjuta harapan

Genggaman tanganmu,
semangatku terus membara janji ku pada mu,
harapanmu ingin ku laksanakan

Satu Malaysia,
kita inspirasi pada dunia
Nama kan dijulang,
kita menjadi kebanggaan
Satu wawasan bersama bergandingan..

Genggaman tanganmu,
semangatku terus membara janji ku pada mu,
harapanmu ingin ku laksanakan


safurah said...

Interesting how the topic 'cheaper bank transfer' ends with 'Malaysia Satu' song by Faizal tahir.. ;) But thanks for the info--didn't notice that and am now switching to my CIMBclicks for paying all of my different-creditcards-for-different-occasions (tho I still think bank shouldn't be charging us anything since we're doing the work for them).
BTW-- kenapa u tak transfer only the needed amount to CIMB in the first place? Wouldn't you be charged for each interbank transactions?

sikulat said...

hermp.. interesting facts.. tapi masalah cimbclicks.. "hang selalu" .. Slow gile.. memalam selalu under maintenance.. hermp.. huhuhu...

Farra said...

cimbclick slow bangat...ku tak boleh maafkan

rumet said...

safurah: haha.. .tu belum amik kira gambar chocolate cake sebagai intro. tak kena interback charges... sebab aku transfer kat ATM machine.. hahaha

sikulat & farra: agak bengong jugak cimbclicks. kalau dah login dan logout, tak boleh login balik within 5 minutes. kalau terdc ke apa.. kene tunggu gak 5 minit!

headsteadi said...

CIMB charges you sms notification after each transaction. Maybank free ;)

CIMB slow compared to Maybank.

Mai credit card satu? Nak pi shopping raye ...

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