Excess Money Deposited Belongs To Us Not Customers Says Cimb

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CIMB said it is working closely with the affected customers to ensure a fair resolution without burdening them.PETALING JAYA: CIMB Bank Bhd (CIMB) says it merely put on hold monies that were accidentally banked into some of its customers’ accounts, reiterating that the accounts were not frozen as claimed.
It said a processing error resulted in the funds for the duplicate transactions being drawn from the bank’s own money, and not from the sender or the receiving customer.
“In line with the banking practice for such occurrences, we had placed a hold and earmarked the duplicate amount that was processed, in order to recover the payments mistakenly made to the customers.
“CIMB would like to reiterate that there was a processing error related to a specific third party financial remittance service that led to transfers made to our customers being accidentally processed twice,” the bank said in a statement.
“This resulted in affected customers receiving duplicate credits into their account, that is a duplicate transaction which effectively doubled the total amount of funds received by the customer.”
Yesterday, the Malaysian Muslim Consumers Association (PPIM) and Agenda Reset Malaysia (ARM) hit out at CIMB, alleging that about 11,000 accounts had been frozen as a result of the glitch.
They warned that if the bank failed to address the problem in favour of the account holders, they would launch a campaign asking Malaysians to boycott the financial institution.
The bank however reiterated that the affected accounts were not frozen, and customers were still able to utilise the balance of funds in excess of the earmarked amount placed on hold.
CIMB said no monies had been debited from the affected customers’ accounts yet, adding that it was also working closely with them to ensure a fair and managed resolution.
“This includes providing clear evidence and documentation of the double credits in their bank statements and formulating flexible repayment schemes based on the individual circumstances.”
CIMB has set up a dedicated hotline for customers to contact at 03-22956188. Affected customers may also contact its call centre at 03-62047788 for assistance. - FMT

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