What is happening to CIMB

[Henryford]

I originally opened an account with CIMB in Jomtien because it was close to my home. Since then they have closed that branch, and the one next to Central. The only one left in Pattaya i know of seems to be one on 3rd Road near Big C Extra which is not very convenient. Are CIMB getting out of the domestic banking business? Should i be getting out of CIMB? It's a shame because they offer one of the better interest rates on savings. Most other banks offer dozens of branches around town.

[topt]

This article here may shed some light - http://www.thaivisa.com/forum/topic/879871-cimb-thai-restructures-strategy-for-its-branches/?hl=cimb

I had not realised the one at Central had closed but according to this presume you can use the AIS shop in Central.........eventually and if it is one of the 22......................

[lvr181]

This article here may shed some light - http://www.thaivisa.com/forum/topic/879871-cimb-thai-restructures-strategy-for-its-branches/?hl=cimb

I had not realised the one at Central had closed but according to this presume you can use the AIS shop in Central.........eventually and if it is one of the 22......................

Uh oh, are you suggesting that Henryford is going to have to whistle for his money?

[laocowboy2]

Essentially they are getting out of mass retail - through branches at least. Only 'Premier' customers will be served through branches - everyone else will have to deal online and/or via AIS outlets or (soon) 7-11 outlets. Whether you stay or not rather depends on what you need from a bank. If you can do much of what you need to do either online or via ATM, then fine. If not, open an account at one of the bigger banks as well while leaving your deposits at CIMB Thai. Parent bank in Malaysia is a little 'under-managed' but rock solid financially so your cash is safe.

[topt]

This article here may shed some light - http://www.thaivisa.com/forum/topic/879871-cimb-thai-restructures-strategy-for-its-branches/?hl=cimb

I had not realised the one at Central had closed but according to this presume you can use the AIS shop in Central.........eventually and if it is one of the 22......................

Uh oh, are you suggesting that Henryford is going to have to whistle for his money?

I have accounts with CIMB so no - as he mentions the branch on 3rd Road is still open, all be it more restricted opening hours and not as convenient for him.

[connda]

Where there is smoke, there's fire. In the Thai Banking Industry, non-preforming loans are up, and profits are down. CIMB is not listed, but, when companies downsize... If they are shedding their 'small customer' base, they are probably doing you a favor. For me, as goes customer service, so goes my money.

Source: Global steel slump hits lenders' 3Q earnings, Nikkei Asian Review, October 27, 2015

Edited December 23, 2015 by connda

[TheCruncher]

A bank that offers higher interests as average has something to hide.

I moved away from them when they were still called BankThai and were taken over by CIMB, as I had noticed for some time already that there was something not right.

[Alfa]

Yes of course something wrong and very wrong. They have to earn money from you however, not telling you the truth , no lies but they don't tell you everything. I have CIMB visa card. They told me there is no fee if I use the card in Malaysia or Indonesia or Taiwan etc. But the exchange rate was 3,5 % higher then every other exchange office. That makes I loos 3500 THB for every 100 000 THB exchange. You lose most but no fee.

This bank only for just keep some money there , for ex. 800 000 for immigration. Rest of it can you try SCB for example. Another thing, they tell you that , no tax on interest but you show them the book , taxes is written there. They just look at you , big eyes, no answer. They don't accept that they don't tell you the truth. Thai style.Try to visit a doctor or dentist, if they do something wrong, see what happens. I don't blame them. I can be wrong many times but I accept and apologize. I am just a human being.

[KittenKong]

The closure of the Jomtien branch probably means that CIMB will lose me as a customer also, as I cant be a*sed to drive to 3rd Road either. A shame as they do offer better rates and shorter queues than the Thai banks.

[Henryford]

I closed my account at CIMB and put the money in TMB. They have a nice branch in Jomtien (with easy parking) with good rates as well 1.9%. CIMB will lose many customers i suspect.