CIMB Reiterates Commitment To Abide By BNM’s Directive In Resolving Processing Error
Author Avatar
cimb bank
(Image: The Star)

CIMB Bank has reiterated its commitment to abide by Bank Negara Malaysia’s (BNM) directive in ensuring that its customers are given fair treatment with regard to the recent processing error incident.

In its latest statement, CIMB specified that it will adhere to BNM’s Policy Document on Fair Treatment of Financial Consumers in resolving the matter. “CIMB has been engaging and continues to work closely with affected customers to ensure a fair and managed resolution. This includes providing clear evidence and documentation of the double credits in their bank statements and formulating flexible repayment schemes based on the individual circumstances,” it further said.

This statement came in response to BNM’s call last week for CIMB to ensure that its customers are given “reasonable options” in returning excess funds that had been deposited into their accounts due to this error. At the same time, BNM also said that it will take supervisory actions against CIMB if it finds any breaches on legal or regulatory requirements.

For context, numerous CIMB accountholders had unexpectedly received notifications at the end of January 2022, stating that the bank has earmarked money in their accounts for debit due to erroneous duplicate credits. CIMB eventually clarified that this was due to a processing error, which caused some transfers to be accidentally processed twice, leading to affected customers receiving double the amount that was originally transferred to them. The bank also shared that the excess money transferred was drawn from the bank’s own funds, and as such, has placed a hold on the duplicate amount that was processed to recover the mistaken payments made.

CIMB also noted that this error is specifically related to a third-party financial remittance service, involving a limited number of customers that undertook international to local transfers only.

Affected CIMB customers who wish to reach out to CIMB can do so via a dedicated hotline at 03-2295 6188, or CIMB’s call centre at 03-6204 7788.

(Source: New Straits Times)

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of

0 Comments
Inline Feedbacks
View all comments
Top Bank News Articles
Post Image
Malaysian Banks And Local Institutions Offer Financial Assistance For Customers Affected By Covid-19
Alex Cheong Pui Yin
- 1st April 2020
(Last update: 1 April 2020, 3.40pm to include FAQs by banks.) With Malaysia going into an extended period […]
Post Image
Loan Repayment Assistance Under PEMERKASA+ Is Available For Everyone
The RinggitPlus Team
- 15th June 2021
The latest spike in Covid-19 cases has led to the declaration of a third movement control order and […]
Post Image
CIMB: Touch ‘n Go eWallet Sees Healthy Volumes For Essential Services And Online Transactions
Alex Cheong Pui Yin
- 13th April 2020
CIMB Group Holdings Bhd, which owns Touch’n Go Sdn Bhd (TNGSB), has reported a continuation of healthy volumes […]
Post Image
Public Bank Extended Moratorium: Flexible Arrangements To Reduce Loan Instalments Until End-2021
Jacie Tan
- 7th August 2020
Public Bank has released the details of its Covid-19 assistance for those who will still be in financial […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image