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CIMB Bank Launches Southeast Asia’s First Foreign Cash ATM
25 August 2010

One of the many firsts introduced to customers

Kuala Lumpur: CIMB Bank today launched Southeast Asia’s first Foreign Cash Automated Teller Machines (ATMs), making it the first bank in the region to offer customers the convenience of withdrawing foreign currencies at any time of the day.

The new Foreign Cash ATMs offering is in collaboration with International Currency Exchange (ICE), the bank’s retail foreign exchange partner. ICE has successfully operated and managed Foreign Cash ATMs in United Kingdom and Europe for the last five years.

These unique machines will enable CIMB Bank and CIMB Islamic ATM and credit card holders to withdraw foreign currencies – namely the US Dollar, Euro, Australian Dollar, Japanese Yen, Hong Kong Dollar, Thai Baht, Chinese Renminbi and Indonesian Rupiah – as well as offer one of the best exchange rates in town. ATM card holders with Malaysian Electronic Payment System (MEPS) from selected banks are also able to enjoy this facility.

“CIMB Bank’s ongoing commitment is to offer a broad range of banking facilities and convenience to our customers, especially via the bank’s 24-hour self-service terminals. For a start, we are pleased to roll out Foreign Cash ATMs at strategic locations -- the Kuala Lumpur International Airport, Low Cost Carrier Terminal and Menara Bumiputra-Commerce. This will eliminate the inconvenience of withdrawing Ringgit from the bank, and later exchanging it to the desired currency over the counter or at money changers,” said Peter England at the launch. The ATMs were launched by Dato’ Sri Nazir Razak, Group Chief Executive Officer, CIMB Group at a ceremony in Kuala Lumpur.

“We are already working on expanding the service to CIMB Bank branches at Damansara Utama, USJ9, Pavilion Kuala Lumpur and Tropicana City Mall as we anticipate a strong demand for this new facility. Moreover, we are confident on intensifying this network as these machines are solidly backed by the latest in technology,” he added.

CIMB Bank and CIMB Islamic ATM cardholders are able to withdraw the foreign currencies of up to the Ringgit-equivalent limit set by the individual customers. These withdrawals can be done for free, with no hidden fees or service charges. Meanwhile other MEPS customers will be charged RM1 as per any existing MEPS transactions.

For CIMB Bank, CIMB Islamic and Direct Access credit card holders, they can withdraw the foreign currencies as cash advances based on their limit set by the bank. However, this is subject to the stipulated service charges outlined by terms and conditions.

Elaborating on the Foreign Cash ATM’s features and benefits, Peter said, “Customers will be alerted of the day’s exchange rate (for the eight currencies) at the machines before proceeding with the withdrawals, and they will be pleased to see that our exchange rates are one of the best in town.”

CIMB Bank and CIMB Islamic have been aggressively enhancing its ATM services for its customers. Recently, the bank announced that its regional ATM network of more than 3,750 CIMB ATMs is now fully integrated, and customers from Malaysia, Indonesia, Singapore and Thailand are able to enjoy cross-border ATM facility when traveling to these countries. This enables them to withdraw money from any CIMB Bank, CIMB Niaga and CIMB Thai ATM machine for free, in the respective country’s currency. Additionally, in Malaysia, customers of CIMB Bank enjoyed free Touch n’ Go reloads at the bank’s ATMs, whereby the RM0.50 charge is waived when they reload their card value via direct debit from their accounts.