CIMB Online Banking Stinks

[scott]

hi,

So my CIMB account is set-up for online banking. I sign-in and it needs a code for transactions that's sent via sms. Simple.

So I'm in Singapore and I need to do a transaction. I click for the code . . . and wait, and wait, and wait . . . and 5 hours later the code pops up on sms. Unfortunately the validity of the code has expired. What the heck is this.

I check various sites online and it seems that others have waited between 1 and 24 hours. And the problem has been around for at least 1 year.

I telephoned the hotline number given on the CIMB site but it's only valid for Malaysia. So I tried the lost card telephone number and after 2 abortive conversations, with plenty of "hold please I'm putting you through," I gave up. 

I ended up phoning a friend of mine and they did the transaction for me. So much for CIMB.

[Tink]

For what its worth we have found Public Bank excellent. Branch service tops, nothing ever a problem and online banking always works well.,,,and we managed to set up savings account and debit card well before we got MM2H (took a bit of persuasion by my very persuasive wife though)
Tink

[kenandching]

Was just about to go to CIMB on Monday to set up a FD account with them. Not so sure now.

Does this SMS thing have to be done every time you sign on, or is it just for the first time you use it.

If every time, how can that be necessary?

So, having noted about Public Bank, any suggestions about an alternative bank to set up the FD with?  HSBC are not my favourite bank due to their obscure charging policies.

Thanks for any help.

Regards

Ken

[Davita]

I set-up with HSBC in KL and they accepted the FD as their requirement for a Premier Account.
This means I got all four of my world-wide HSBC Accounts upgraded to their Premier status.
I can now transfer money between any of those accounts using the Global View Transfer system, free of charge.

[kenandching]

Davita. That is very interesting. Thank you.

Would you happen to know what rate you are getting on the FD?

[Danny]

So I'm in Singapore and I need to do a transaction. I click for the code . . .

On-line banking in S'pore thru SMS authorization code for a Malaysian bank?
You're asking a Singaporean Internet provider and a Singaporean telecom provider to communicate with a Malaysian Internet provider and a Malaysian telecom provider.
I'm not joking because everytime I was in Spore and tried my webmail from TM, I could not get through. And I had problems with Digi.
In Holland never ever had problems. So in my view it is a Spore/Malay thing.

Danny

[Tink]

With Public Bank, the only time you need SMS code is for some types of funds transfer. Otherwise I can hook onto Internet banking from anywhere. FD rates for 50 plus accounts is about 2.95%.  Just as an interesting aside, can the MM2H FD be in foreign currency via a local bank....if so AUD rate 1 year at Public Bank is 5.3%....

Tink

[sananton]

KenandChing;

I renewed my FD with MayBank on 6 June 2010 for 2.80% per year. Check around some other might pay better. But make sure to get the one that give you the best service. I am happy with the Branch Manager at MayBank in Penang.

[scott]

hi, Danny,

That's a very good point. And CIMB has it's own banking presence in Singapore so I would have thought some form of attention to cross-border internet transactions (providers and telecom) would have taken place.

For example, I have Maybank online and don't have any internet access problems as Maybank gives a choice of tokens or SMS.

CIMB doesn't give any internet choice, it's SMS only. I'm now not going to trust CIMB access beyond Malaysia's borders, once burnt etc.

They could have said that it's a restricted service - fat chance, huh.

[Danny]

I renewed my FD with MayBank on 6 June 2010 for 2.80% per year.

I renewed a FD (not MM2H related) with Maybank today, but changed to a 1 month tenure at 2,75%. Today the 1 year tenure was 2,85% only, difference too small.
The beauty of Maybank is I can uplift and place new FD's all on-line, without ever going to the bank building.

Danny

[JAYDEE]

Scott,

I have a CIMB preffered account and I also have an issue with the ability to transfer funds.
I don't posess, nor do I want, a Malaysian hand phone number, which is the only acceptable way to transfer funds according to CIMB.

I have been using my Australian mobile to conduct all and any business that I need to for a very simple reason.
I travel to Spain, Italy, Germany, UK, USA, Malaysia, Singapore and Australia & New Zealand quite regularly and if I had to have a mobile phone for each country, I would have to have TEN telephones hanging around my neck. Very inneficient.
CIMB can't handle + 61........., or 0061..........

So, currently I am in Australia, but I will be back in Penang during August and I can tell you, that I will be seeking justice in this matter and not have to resort to buying a new phone or Sim card to satisfy their poorly managed funds transfer facility.

I have a saying in business that doesn't take much to translate. "Take no prisoners and eat the wounded."

Incidentally, I am having issues with my bank in Australia and am in the throes of changing banks.

It all comes down to Service, Service and more Service as far as I am concerned. Watch this space.
Cheers & Beers, JAYDEE

[Tink]

Hi Jaydee,

If thinking changing Aussie bank, give a thought to a decent credit union. I switched over 20 years ago while still in business and it saved me a packet. Little or no bank fees, small enough to actually know my bank manager and have always had easy and secure I-net banking. Even today while living in Malaysia I still do all my Australian banking via net and when I want funds transferred to Malaysia, I drop a line to my friendly manager who personally does it on the spot. Most have special deals for us old codgers at preferred interest rates as well.

Cheers

Tink

[scott]

hi, jaycee,

Yep, I got caught out with CIMB. It was a surprise.

My trip to Singapore could have been put back a couple of days if I had known that CIMB internet banking was useless from Singapore.

I had a bill to pay, and an FD was coming up for renewal and I wanted to change the tenure etc. But I thought, no problem I'll do it in Singapore. Fat chance.

When I get back to Malaysia next week I'll look at changing banks.

[papaya]

Scott, we just looked at the CIMB website and it says quote "TAC Delay.  We regret to inform that you may experience intermittent TAC delay for overseas handphone numbers and 010 handphone users.  We apologise for any inconvenience caused" unquote

So looks like you've just had some un-luck there.

Ours worked just fine up here in Phuket this week.  We opened a new CIMB account on the last trip to Penang.  Got our Malaysian phones set up for TAC acceptance.  This week we did a transfer online from our CIMB account in Penang to someone's HSBC account in Penang and it worked just dandy.  The TAC came through on our Malaysian phone (which works in Phuket).  So not an overseas phone.

The only little blip - first time we tried it, there was a big monsoon storm going on here and the phone signal was on the blink, so we had to try again.  Apart from that, it was fine.

[scott]

hi, papaya,

Thanks for the info.

The announcement didn't say that by the time you receive the TAC it's expired so you're hanging around for hours on a Catch 22.

CIMB your intermittent online banking service if you're overseas, and if you're not using a Malaysian phone.   

Unlucky, Ok, but I needed to pay a bill etc.  And it's not that I use this several times a week. This was the first time ever, and it didn't work. I don't want the worry of a maybe-can-use sort of arrangement.

They're sorry for the inconvenience, and I'm sorry but I''ll be looking elsewhere.