CIMB FastSaver

[F1ngolf2012]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

 

[havetheveryfun]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

by right they claim u can "lock in" the FD on the date of application no matter how long ur application gets approved.. guess not

 

[Squaredot]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

bro I thought u already have FS and FD @4.2% some time back

Edit: oh I got it, probably u r opening a new joint FS account on 30Jan.
Did u and your joint account holder both transfer money into this new joint account?
From what I know, FAST in from one account holder cannot "activate" the new account, need money from both account holders.

 

[vsvs24]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

Since you were at the bank why can't you open the joint FD directly ? They don't allow ?

 

[NTTDoCoMo]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

I applied on FastSaver Joint Account via Online on 13 Jan around 7 P.M. (Friday) and the account was activated 17 Jan around 3:15 PM (Tuesday).

Both Joint account holders need to FAST into the FastSaver Joint Account, best to FAST in from other bank individual account, as the transaction history will show the name of the FAST From.

 

[F1ngolf2012]

by right they claim u can "lock in" the FD on the date of application no matter how long ur application gets approved.. guess not

bro I thought u already have FS and FD @4.2% some time back

Edit: oh I got it, probably u r opening a new joint FS account on 30Jan.
Did u and your joint account holder both transfer money into this new joint account?
From what I know, FAST in from one account holder cannot "activate" the new account, need money from both account holders.

The earlier FD was on my single name account. I was trying to establish new joint FS/FD account.

 

[F1ngolf2012]

Since you were at the bank why can't you open the joint FD directly ? They don't allow ?

The RM who is new to CIMB did not suggest this option to us.

 

[F1ngolf2012]

I applied on FastSaver Joint Account via Online on 13 Jan around 7 P.M. (Friday) and the account was activated 17 Jan around 3:15 PM (Tuesday).

Both Joint account holders need to FAST into the FastSaver Joint Account, best to FAST in from other bank individual account, as the transaction history will show the name of the FAST From.

Both joint account holders made transfers to new joint "phantom" FS on 30 Jan. During a call with CSO, she said that other account holder did not make the transfer and was asked to make new transfer.

Long story short, CIMB stuffed up on this one as subsequent CSO confirmed the initial transfer and advised that new account should be ready by 6 Feb. Till now, account is still pending.

 

[F1ngolf2012]

For people who are thinking of opening new FS account, sharing my CIMB's journey here:

Went to the bank on 30 Jan to open joint FS account with plan to open joint 18 months FD based on the 4.20% rate. Was asked to transfer fund into new joint FS to activate account. Transferred fund on 30 Jan.

The new FS joint account is still pending till today even after advices that the account will be activated by 3 Feb and then 6 Feb. Not only the 4.2% FD rate is not available and now my fund is stuck in the "phantom pseudo" joint FS account. Can't do any transfers including to my own CIMB accounts. Waiting for returned call from service manager for updates.

CIMB has my vote for the worst bank for new account opening even for existing customers.

Update:
CIMB called to say that new joint FS is activated. She wondered why there is no new joint FD open when the plan was to place FD under joint account holders when we visited the branch on 30 Jan.

Told her RM asked us to open the new joint FS online first as this was supposed to be fastest process versus filling up account opening form. She thinks otherwise as the new FS account can be activated on the same day for people who visit the branch.

Anyway, she is going to request for the 18 mth 4.2% FD rate approval since we visited the branch. Let's wait and see.

 

[altya1]

I tot can get Interest and interest rate backdated to the day of application and get the rates of that date? Me also apply mid Jan and just got the activation code but interest rate drop already. Both account opened but fund did not transfer automatically from Fastsaver to FD?

Shld I wait or call CSO?

 

[altya1]

Need get some confirmation on this. I even got the pass lock document to confirm my rates on day of application.. But now drop so how?

 

[testingabc]

Need get some confirmation on this. I even got the pass lock document to confirm my rates on day of application.. But now drop so how?

just keep dormant ? I opened CIMB many years back, $0 for years still can login

 

[ekardo]

just keep dormant ? I opened CIMB many years back, $0 for years still can login

ya...same here..

 

[altya1]

Any other in similar situation where u sign up FD with higher interest rate and got confirmation but now account open later and Interest rate dropped.. Able to still get back the previous rate FD?

 

[sglandscape]

Any other in similar situation where u sign up FD with higher interest rate and got confirmation but now account open later and Interest rate dropped.. Able to still get back the previous rate FD?

You snooze you lose. But CIMB did have a few days grace period for those who sign up late Jan and the account was not open in time.

 

[altya1]

OK already confirm with CSO. No snooze no lose because for everyone that apply before the interest rate change, they are opening your account in batches and as long you transfer the FD fund into your saving by end of this month. They will open ur FD in batches also and backdate your FD to date of fund transfer and the interest rate at that point of time.

They just need more time. Don't panic like me.

 

[tatose]

Interesting, I'm a (very) low value customer for CIMB but I found that bank pretty ideal for my purposes.

I chu stunt like leaving zero dollars in fastsaver/starsaver accounts for years and abuse their credit card promotions. I have yet to cancel any of their products and they have yet to blacklist me, yet.

 

[sglandscape]

Interesting, I'm a (very) low value customer for CIMB but I found that bank pretty ideal for my purposes.

I chu stunt like leaving zero dollars in fastsaver/starsaver accounts for years and abuse their credit card promotions. I have yet to cancel any of their products and they have yet to blacklist me, yet.

Why would they? Having zero fee is one of the proposition for the Fastsaver, and they used to pay a floor of 1% interest rate back in the day before having to cut it during the covid period.

This campaign actually help them gather funds when they need (since people already have an account with them and didn't close it because of fall below fees). It's a success imho.

Their credit card promo not bad too at times (recent ShopBack one).

 

[SantyBalls]

I deposit 1k since last fri. Today acct still not activated.. They say 5business days leh..

 

[init00]

Interesting, I'm a (very) low value customer for CIMB but I found that bank pretty ideal for my purposes.

I chu stunt like leaving zero dollars in fastsaver/starsaver accounts for years and abuse their credit card promotions. I have yet to cancel any of their products and they have yet to blacklist me, yet.

how to abuse their credit card promo?