CIMB Bank Bhd is offering zero-fee interbank fund transfers via its CIMB Clicks and CIMB EVA mobile banking apps to its customers, regardless of the transaction amount, as part of its effort to drive the usage of digital payments.

In a statement here, the bank said its Interbank GIRO (IBG) fee of RM0.11 per transaction and Instant Interbank Fund Transfer (IBFT) fee of RM0.53 per transaction would be waived with immediate effect.

The announcement was also in support of Bank Negara Malaysia’s cashless society agenda, said the bank.

“Over the last three years, we have seen digital transactions grow by a Compound Annual Growth Rate (CAGR) of close to 40 per cent and mobile transactions by a CAGR of 90 per cent,” said CIMB.

The bank is also confident the zero-fee fund transfers will encourage more of its customers to switch to electronic payments while helping to develop Malaysia’s e-payments ecosystem.

The all-new upgraded CIMB Clicks, which went live on March 17, provides an improved user experience, quick access to accounts and transactions, improved safety and security, as well as personalised offerings and promotions.

CIMB noted that since the launch of the new CIMB Clicks, new user registrations have increased over 30 per cent due to its simpler navigation and seamless user experience across desktop, tablet and mobile.

By New Straits Times(Published: 25/04/2018)

https://www.nst.com.my/business/2018/04/361788/cimb-offers-zero-fee-online-fund-transfers

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