7th February 2022 - 3 min read
CIMB Bank has offered further clarification over the processing error that happened over a week ago, stating that it was related to a “specific third-party financial remittance service”. The glitch, in turn, caused duplicate payments to be accidentally banked into some customers’ accounts.
“CIMB would like to reiterate that there was a processing error related to a specific third-party financial remittance service that led to transfers made to our customers being accidentally processed twice. This resulted in affected customers receiving duplicate credits into their account, that is a duplicate transaction which effectively doubled the total amount of funds received by the customer,” the bank explained in a statement.
Additionally, CIMB emphasised that the duplicate amounts that were accidentally paid were drawn from the bank’s own funds. They were not taken from the accounts of the sender or the recipient of the transactions.
“In line with the banking practice for such occurrences, we had placed a hold and earmarked the duplicate amount that was processed in order to recover the payments mistakenly made to the customers,” the bank further shared.
At the end of last month, numerous CIMB customers had reported receiving notifications from the bank stating that money from their accounts will be earmarked for debit due to erroneous duplicate credits and other bank charges. These individuals also said that their accounts were suspended. Following that, CIMB clarified that this incident was caused by a processing error in its banking system, and that it is working closely with affected customers to ensure “a fair and managed” resolution.
In the wake of that, several organisations and associations have spoken out against CIMB, saying that the bank needs to provide a better explanation to its accountholders. The Federation of Malaysian Consumers Associations (FOMCA), for instance, urged CIMB to investigate if the processing error had any element of fraud.
In addition, the Malaysian Muslim Consumers Association (PPIM) and Agenda Reset Malaysia (ARM) alleged that about 11,000 CIMB accounts had been frozen due to the glitch, and pressed CIMB to settle the problem in favour of the accountholders. If unresolved, both organisations warned that they would initiate a boycott against the bank.
CIMB, meanwhile, reiterated that the affected accounts were not suspended, and that customers were still able to utilise their money in excess of the amount that has been placed on hold. Additionally, no funds have been debited from the affected customers’ accounts yet. The bank will also work to provide clear evidence and documentation of the double credits in the accountholders’ bank statements, and formulate flexible repayment schemes based on the individual circumstances.
Affected CIMB customers with queries can reach out to the bank via a dedicated hotline at 03-2295 6188. Alternatively, they may also contact CIMB’s call centre at 03-6204 7788 for assistance.
(Sources: Free Malaysia Today, New Straits Times)
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Comments (1)
Plz cheak with affected customers…