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Important Notice:

Fund Transfer Limit into/from External Account

16 January 2023

 

 

Dear Valued Customer,

 

Effective from 16 January 2023, pursuant to the Foreign Exchange Administration (FEA) issued by Bank Negara Malaysia. Any outgoing fund transfer into or from an External Account will be capped at RM 10,000 per transaction. Any of these single outgoing fund transfer transactions exceeding RM10,000 would be rejected. Similarly, Scheduled Transfers exceeding RM10,000 per transaction will not be processed on your scheduled transfer date if any.

 

This will be applicable to:

(i) Fund Transfer within CIMB Bank (3rd party),

(ii) All interbank fund Transfer including IBG transfer, DuitNow to Account and DuitNow to Proxy via CIMB Clicks Online Banking and CIMB Clicks Mobile App.

 

However, the above limit shall not apply to: -

  • a Consulate;
  • a High Commission;
  • an Embassy;
  • an individual who participates in the Malaysia My Second Home Programme (MM2H); or
  • an individual who is working or studying in Malaysia including the individual’s spouse, child or
  • parent who is staying in Malaysia;

 

If you wish to perform a fund transfer involving External Accounts above RM10,000 in a single transaction from your CIMB Bank account into another third party within CIMB Bank or to another bank, please visit any CIMB Bank branch and bring along supporting document(s) to show the purpose of the transfer (e.g. Invoice for settlement of trade in goods and services in Malaysia) allowable under Foreign Exchange Policy Notices to perform the transaction.

 

For more information, you may refer to the CIMB Clicks Online Banking FAQs at Accounts and Transactions > Transfer Funds. To read and understand the latest Foreign Exchange Policy Notices available on Bank Negara Malaysia (BNM)’s website at https://www.bnm.gov.my.