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CIMB Unlimited free transfers no more - The Poor Pinoy Investor
CIMB

CIMB Unlimited free transfers no more

Posted on By Kuya Well 1 Comment on CIMB Unlimited free transfers no more
High-Yield Savings Accounts, Investment and Finance, Posts

One great feature of CIMB Bank was its unlimited free transfers via Instapay. However, that feature has already ended.

So no more free transfers?

The good news is that you can still transfer funds from CIMB to other banks via Instapay for free but it’s now limited to just 5 free transfers per day.

This is what you’ll see when you try to perform a transfer via Instapay:

What if I need to transfer more than 5?

Either wait for the next day to perform the transfers via Instapay OR you can use PESONet.

Take note though that PESONet transfers are not instant. Depending on the time you made the transfer, it will either be processed within the same day or the next business day. To be exact:

  • transactions performed via PESONet before 9:00 AM on a business day shall be processed by 2:00 PM within the same business day
  • transactions performed before 3:00 PM on a business day shall be processed by 6:00 PM within the same business day
  • transactions performed 3:00 PM onwards or on a non-business day (weekends / holidays) shall be processed within the next business day

Blogger’s Corner

Comparing the free transfer feature with other known digital banks, CIMB still offers the best free transfer via Instapay. Take note that Maya doesn’t offer it while Seabank provides 15 free transfers per week and GoTyme with 3 per week.

Related posts:

  1. Which one is the Best High-Yield Savings Account?
  2. Which one’s better: investing in Maya Savings or MP2?
  3. Latest changes to Maya Savings’ Interest Rates (September 2023)
  4. GoTyme interest rate is no longer 5% per annum

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