CIMB FastSaver

[twosix]

I've already started moving some funds out of Fastsaver though... 1 Nov is a weekend, who knows what may happen to their FAST transfers if there is a large outflow of deposits

create a new account to defame a bank ah? so cheapskate lor.

 

[jayeez48]

Nope, my account is not new, have been following the threads here for years just that i seldom post.

I know this for a fact based on how FAST works. There is an aggregate outflow limit based on how much collateral the bank puts up with the clearing house which can't be topped up during weekends. Of course I hope the bank forsees this and has taken the necessary preventive actions, but I would rather be sure now and lose a few cents rather than get transaction errors.

 

[twosix]

Nope, my account is not new, have been following the threads here for years just that i seldom post.

I know this for a fact based on how FAST works. There is an aggregate outflow limit based on how much collateral the bank puts up with the clearing house which can't be topped up during weekends. Of course I hope the bank forsees this and has taken the necessary preventive actions, but I would rather be sure now and lose a few cents rather than get transaction errors.

so how much are the typical collaterals? u think the transfers will wipe it out? the bank so weak/careless? how do they even get a banking license then?

true it is only a few $ of interest for a day or 2 though, that's why i am transferring out on 2 nov. 2 nov is a monday, not so worried about losing a few $ for 2 days.

 

[jayeez48]

so how much are the typical collaterals? u think the transfers will wipe it out? the bank so weak/careless? how do they even get a banking license then?

true it is only a few $ of interest for a day or 2 though, that's why i am transferring out on 2 nov. 2 nov is a monday, not so worried about losing a few $ for 2 days.

Collateral is posted based on the bank's typical outflows and is up to the bank's treasury to decide. But there can be spikes especially when a re-pricing is imminent.

Of course if you are fine with waiting till 2 Nov that is okay as well. I'm sure the bank monitors its own liquidity ratios and is sufficiently capitalised per MAS requirements. A one day spike would not cause that much alarm from a solvency/liquidity perspective, but operationally that is a different story.

 

[LexusIS]

some1 cant understand there is no daily transaction limit imposed by CIMB Bank

Lol..... Let us know if you manage to trf more than $50k out

https://www.cimbclicks.com.sg/faq_fundtransferoutward.htm

 

[LexusIS]

some1 cant understand there is no daily transaction limit imposed by CIMB Bank

By the way what you shared is for - Funds Transfer from other banks into CIMB SG

Fund transfer out is capped by CIMB at S$50k per day

 

[twosix]

Collateral is posted based on the bank's typical outflows and is up to the bank's treasury to decide. But there can be spikes especially when a re-pricing is imminent.

Of course if you are fine with waiting till 2 Nov that is okay as well. I'm sure the bank monitors its own liquidity ratios and is sufficiently capitalised per MAS requirements. A one day spike would not cause that much alarm from a solvency/liquidity perspective, but operationally that is a different story.

I'm sure CIMB has other more higher value businesses than just a few savings accounts. I'm not worried the bank suddenly say cannot transfer money to external entities.

MAS will be worried if a bank cannot allow it's customers to do transfer transactions.

 

[fadefade]

By the way what you shared is for - Funds Transfer from other banks into CIMB SG

Fund transfer out is capped by CIMB at S$50k per day

tks all.. now quickly tt out

 

[a4973]

tks all.. now quickly tt out

Can FAST out > 50k / day?

 

[fadefade]

Can FAST out > 50k / day?

By the way what you shared is for - Funds Transfer from other banks into CIMB SG

Fund transfer out is capped by CIMB at S$50k per day

As per LexusIS, only able tt 50k per day to other banks.

 

[ekardo]

anyone got called up by CIMB for coffee ? they claim they have very good interest lobang for me but refused to share any details over phone or website..

 

[havetheveryfun]

anyone got called up by CIMB for coffee ? they claim they have very good interest lobang for me but refused to share any details over phone or website..

if got time then go loh.. but high chance is just those insurance related type of nonsense. or something with high fees

 

[artered]

wah just realised CIMB daily 50k limit small compared to other banks 200k ah

 

[Mr.Canberra]

CIMB FastSaver account is pretty much garbage now.

Better to park idle money elsewhere.

 

[ekardo]

if got time then go loh.. but high chance is just those insurance related type of nonsense. or something with high fees

since the rep coming to near my place I will go with open ear..but quite skeptical lah...nothing good come out from the bank rep one...

 

[EveMuffins]

Should be psycho u to do structured deposit.

 

[LexusIS]

since the rep coming to near my place I will go with open ear..but quite skeptical lah...nothing good come out from the bank rep one...

Lol share what’s the lobang. Asking to meet me too but I didn’t reply on a date yet

 

[micromousez]

CIMB FastSaver account is pretty much garbage now.

Better to park idle money elsewhere.

any recommendation?

 

[McFadden]

since the rep coming to near my place I will go with open ear..but quite skeptical lah...nothing good come out from the bank rep one...

i kenna b4.the rm ask me sign insurance

 

[LexusIS]

any recommendation?

Ah actually most other banks are better now. u can consider
1) HSBC 2) BOC 3) DBS multiplier (but have conditions to meet 4) RHB. (Cap at $100k tho)