Foreign Telegraphic Transfer (FTT)

1. Is there a minimum and maximum transaction limit for Foreign Telegraphic

Transfer transactions?

The minimum amount required for processing a Foreign Telegraphic Transfer

transaction is an amount equivalent to RM250. For Foreign Telegraphic Transfer
transactions submitted via Clicks, there will be a daily combined maximum limit of
value equivalent up to RM 50,000 for payment to immediate family (i.e. parent,
spouse, children and sibling) and education purposes. For other purposes of
payment the daily combine maximum limit remain of value equivalent up to
RM10,000. There will be no maximum limit for Foreign Telegraphic Transfer
transactions submitted through Branches.

2. What is the rate used when I perform a Foreign Telegraphic Transfer

transaction?

The prevailing TT Selling rate will be used. To obtain the prevailing TT rate,
please refer to here.

3. What are the fees and charges to perform a Foreign Telegraphic Transfer
transaction?

CIMB will charge a transaction fee. Please refer to Telegraphic Transfer for the
full list on CIMB transaction fees.

There will also be charges imposed by the agent/third party bank for processing of
the transaction and the charges are determined by the agent/third party bank.
Please refer to agent/third party bank website / necessary channels to view the
charges imposed by agent / third party bank.

For Foreign Telegraphic Transfer instructions via Clicks, the charges will be
directly deducted from the amount to be transferred.

For Foreign Telegraphic instruction submitted through Branches, the sender will
have the option to either pay for the agent/third party bank charges upfront (USD
& EUR currency only) or to deduct the charges from the amount to be transferred.

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4. What details do I need to provide when submitting a Foreign Telegraphic
Transfer instruction?

The details required include:

i. Beneficiary’s Name & Address
ii. Passport number
iii. Contact number
iv. Name of beneficiary bank & address
v. IBAN/BIC,
vi. Relationship with beneficiary
vii. Beneficiary’s Malaysia resident status
viii. Purpose of payment.

5. What is an IBAN (International Bank Account Number)?

IBAN is a standard way of uniquely identifying an account for the purpose of

improving the efficiency and speed of cross-border European Union payments.
The length of IBAN can go up to 28 digits starting with a 2-letter country code,
specific to each country.

Example of IBAN used in European countries:

Andorra (24 digits) AD12 0001 2030 2003 5910 0100

Austria (20 digits) AT61 1904 3002 3457 3201

Belgium (16 digits) BE68 5390 0754 7034

Cyprus (28 digits) CY17 0020 0128 0000 0012 0052 7600

Czech Republic (24 digits) CZ65 0800 0000 1920 0014 5399

Denmark (18 digits) DK50 0040 0440 1162 43

Estonia (20 digits) EE38 2200 2210 2014 5685

Finland (18 digits) FI21 1234 5600 0007 85

France (27 digits) FR14 2004 1010 0505 0001 3M02 606

Germany (22 digits) DE89 3704 0044 0532 0130 00

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 Gibraltar (23 digits) GI75 NWBK 0000 0000 7099 453

Greece (27 digits) GR16 0110 1250 0000 0001 2300 695

Hungary (28 digits) HU42 1177 3016 1111 1018 0000 0000

Iceland (26 digits) IS14 0159 2600 7654 5510 7303 39

Ireland (22 digits) IE29 AIBK 9311 5212 3456 78

Italy (27 digits) IT60 X054 2811 1010 0000 0123 456

Latvia (21 digits) LV80 BANK 0000 4351 9500 1

Lithuania (20 digits) LT12 1000 0111 0100 1000

Luxembourg (20 digits) LU28 0019 4006 4475 0000

Netherlands (18 digits) NL91 ABNA 0417 1643 00

Norway (15 digits) NO93 8601 1117 947

Poland (28 digits) PL27 1140 2004 0000 3002 0135 5387

Portugal (25 digits) PT50 0002 0123 1234 5678 9015 4

Slovak Republic (24 digits) SK31 1200 0000 1987 4263 7541

Slovenia (19 digits) SI56 1910 0000 0123 438

Spain (24 digits) ES80 2310 0001 1800 0001 2345

Sweden (24 digits) SE35 5000 0000 0549 1000 0003

Switzerland (21 digits) CH39 0070 0115 2018 4917 3

United Kingdom (22 digits) GB29 NWBK 6016 1331 9268 19

UAE (23 digits)* AE47 044 000 00 01123456701

*country where IBAN is mandatory in cross border payments

6. What is a Bank Identifier Code (BIC), SWIFT Code, SORT Code and BSB?

Bank Identifier Codes (BIC) is the unique identification code for a particular bank.
These codes are used when transferring money between banks, particularly for

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 international telegraphic transfers. There are different types of BIC format, for
example Swift Code and SORT Code.

Example of BIC codes used in different countries include:

Remit Destination Bank Identifier Codes Length

Currency Country (BIC) Used

AUD Australia BSB No 6

AUD Others SWIFT Code 8 to 11

CND Canada Transit Number 5

GBP United Kingdom SORT Code 6

GBP Others SWIFT Code 8 to 11

USD United States of ABA Routing Transit 9

America Number
USD Others SWIFT Code 8 to 11

EUR All SWIFT Code 8 to 11

INR India IFSC Code 11

INR Others SWIFT Code 8 to 11

Others Others SWIFT Code 8 to 11

7. What are the beneficiary reference details and supporting documents

required for the Foreign Telegraphic Transfer to be approved?

Customers and the Bank must comply with the Regulatory requirements when
initiating an Outward Foreign Telegraphic Transfer payment (e.g.: FEA Rules,
Statistical Reporting Enforcement Framework and etc.) and the following
supporting documents are required for the processing of an Outward Foreign
Telegraphic Transfer payment.

8. For non-investment foreign currency payments, the following are some of

the supporting documents required:
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Type of Payments Supportive Documents Beneficiary
Allowed Reference Details
Education Between Residents – Student ID Number
a. Offer Letter or Invoice from
overseas school/ college/
university
b. Valid Student Pass/ Card
(Optional)
c. Indication of fees & living
expenses for one year (Optional)
Employment Abroad Between Residents – Employer's Staff ID Number
Letter of Offer or Letter from employer
confirming employment, Staff ID, Staff
Work Permit etc

Payment for Goods Between Residents – Not Allowed. Invoice Number

& Services Requires BNM’s Approval. Between
Resident to Non Resident – Invoices,
Bill of Exchange etc

Payment Between Between Residents – Proof of NIL

Immediate Family relationship like marriage certificate,
Members like living birth certificate etc
expenses etc

Payment for Loans / For resident individual, sole NIL

Financing Taken By proprietor, general partnership -
Residents In any form of loan/financing
Malaysia or Abroad agreement, promissory note signed
with the individual or letter of offer
from the local financial institutions or
non-resident. (Resident individual is
allowed to borrow /acquire financing
up to equivalent of RM10 million from
Resident or Non Resident) For
resident entity – any form of
agreement or letter of offer from
financial institutions

1. All entities within the group of

entities are allowed to borrow /
acquire financing up to RM100
million in aggregate from non-
resident

2. From onshore banks (other than

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 trade lines) up to RM50 million in
aggregate per calendar year on a
corporate group basis.

Lending/Financing Loan/financing agreement or any NIL

by Non Resident To documents evidencing the amount of
Resident the loan/financing taken by the
resident from a non-resident. Same
restriction as stated in item (5)

9. How long will it take for the beneficiary to receive the funds?

Foreign Telegraphic Transfer instructions are processed on the same day for
transactions submitted before 4pm. For requests submitted after 4pm, Saturday,
Sunday and Federal Territory Public Holidays, it will be processed on the next
Federal Territory working day.

The actual time taken for the beneficiary to receive the money will depend on the
respective agent or beneficiary bank.

10. Can I cancel the Foreign Telegraphic Transfer that I've submitted?

You cannot cancel the transactions that have been submitted and processed.
However, in the case of an unsuccessful transfer, a resubmission will be treated
as a fresh request and remittance charge will applied.

11. What happens if the Foreign Telegraphic Transfer is unsuccessful?

In the event your Foreign Telegraphic Transfer instruction is rejected by CIMB or

the beneficiary bank, the funds will be refunded after deducting all the relevant
CIMB charges and also charges by the beneficiary bank (if applicable). The funds
will also be converted to MYR using the prevailing Buying TT Rate at the time the
instruction was submitted to the bank. CIMB shall not be responsible for any
consequential loss. Customers are required to re-submit their Foreign Telegraphic
Transfer instruction with complete and correct information and may call CIMB
Consumer Contact Centre to enquire for further details.

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12. Why am I still charged service fee for an unsuccessful Foreign Telegraphic
Transfer transaction?

Agent/Intermediary/beneficiary bank charges are outside CIMB control. Any

charges taken by the Bank at the time the initial payment was processed will not
be refunded to you in the event the payment is returned/unsuccessful.

13. Who should I call for further enquiries?

Call +603 6204 7788

(Customer Care Hotline)

E-mail [email protected]

Write To Customer Resolution Unit

P.O. Box 10338,
GPO Kuala Lumpur
50710 Wilayah Persekutuan