News & Reviews:   CIMB

CIMB today announced that the CIMB OCTO application is experiencing a temporary slow service. This has also resulted in several users being unable to access the service. So, what should you know about it?

CIMB has previously announced the transition of the application from CIMB Clicks to CIMB OCTO. That means several functions will be phased out in an effort to move users to the new, more modern application. So, what should you know about it?

Starting at the end of June 2024, CIMB will introduce several security features in their banking application. In addition to announcing the introduction of a cooling-off period when changing transaction limits on the CIMB OCTO application or on the CIMB Clicks website, CIMB is now also informing users regarding the use of SecureTAC approval for all fund transfers.

In regards to the recent news of additional charges for merchants via DuitNow QR, Touch 'n Go (TNG) Digital just announced that those will be waived. That's good news to many users who are reliant on the ewallet platform but it's only for now until further notice.

Things have really been stirring up about the MDR (Merchant Discount Rate) for DuitNow QR Payments. Maybank has joined the MDR “until further notice” group with Public Bank while CIMB will extend the MDR waiver on DuitNow QR Payments until the end of the year. PayNet or Payments Network Malaysia Sdn Bhd have also announced an official statement clarifying more details. 

Yesterday, there was an online buzz going around regarding DuitNow QR. An RHB Reflex user received an email about the bank introducing a transaction fee for DuitNow on 1 November 2023. In the email, it is stated that 0.25% of the transaction value will be imposed on a savings account or ewallet, and 0.50% from a credit card. This does not apply to normal consumers, though.

In the near future, CIMB and Maybank will be moving their SecureTAC approval to their respective apps. This is part of the banks' to further safeguard your money from scam SMSes and is also, in line with the Bank Negara Malaysia.

CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) have announced that they are implementing several measures to strengthen the security of their digital banking platforms. Among the measures is a mandatory call verification process that will go into effect starting today (26 December 2022).

CIMB Bank Bhd and CIMB Islamic Bank Bhd (CIMB) have recently announced several new security measures for the CIMB Clicks and CIMB OCTO apps. Aimed at combating fraud and strengthening the security of their digital banking platforms, these measures include compulsory SecureTAC authorisation via the CIMB Clicks App for transactions over RM100.

Following the directive by Bank Negara Malaysia (BNM) to move away from OTP to more secure authentication, CIMB Group has announced that it will cease the use of OTP by the first half of 2023. Instead, the bank will only use its SecureTAC for customers’ online banking authentication moving forward.