I went to CIMB bank this morning to open a savings account. Before that, I have checked with my work colleagues about how much of the minimum initial deposit to open a CIMB savings account. However, I noticed most of them could not give me the exact answer for this. After doing some research and survey, I found out that there’ll have 4 types of CIMB savings accounts which are CIMB AirAsia Savers Account, Regular Savings Account, Basic Savings Account and Prime Savings Account.
Besides, I’ve emailed to CIMB bank call centre to get more details and some latest update on the savings account. Below is the email replied by 1 of the bank officer:
After doing some analysis on that, I found myself more interested in opening Basic Savings Account 2 (BSA2) as I can enjoy no annual fee charged on my ATM card. Under this Basic Savings Account 2(BSA2), I would need a minimum opening deposit of RM20. However, there’s a limit for FREE monthly transaction over ATM and the counter. If your ATM transactions is above the threshold which is 8 ATM transactions per month, then each subsequent transaction will be charged RM0.50. If your over the counter(OTC) transaction is above the threshold which is 6 OTC transactions per month, then each subsequent transaction will be charged RM5.
My main purpose of opening savings account is to have an online banking account to do some online stock trading. My friend told me if using CIMB Clicks to trade stock online will have less transaction charge compared to other bank.
How About Basic Savings Account 1 (BSA1)?
Compared to the Basic Savings Account 2 (BSA2), BSA1 will have RM8 annual fee, but you can enjoy unlimited ATM and OTC transactions.
Great to know such a detail about such a simple thing.
I believe the officer not trained to sell BSA2 or even BSA1, that is why they can’t brief customer upon inquiry – I have such experience with CIMB Bank too.
BSA2 should suit most people, who would like to do OTC transactions more than 6 times a month?
To visit 8 times to ATM machine each month is a waste of time too.
thanks..it is really helpful info