CIMB Bank Philippines

For context, I placed funds in a time deposit last year with a stated fixed interest rate of 6%. Upon maturity, the credited interest was significantly different from what was advertised and expected. Additionally, the deposit appears to have been automatically reinvested without my prior knowledge or explicit consent. When I proceeded to withdraw the funds—under the reasonable assumption that the deposit had already matured—I was charged a ₱4,000 documentary stamp tax along with a 20% tax. I reached out to customer support to request clarification and correction, but it has now been over a month without any update. One can only assume there may be insufficient resources dedicated to handling client concerns. Fortunately, I only placed less than ₱1M in this time deposit. I was initially planning to place ₱10M this year, but that plan has understandably changed. For comparison, I maintain time deposits with other banks, including UNO, where maturity proceeds are automatically credited back without forced reinvestment or unexpected charges. Transparency and timely communication would have made a significant difference in this experience.

CIMB has taken more money for me than o expected it to. My account has been dormant and I was told by both app and support that to re-activate it I just need to cash-in. I’ve tried that in multiple occasions and the cash-in NEVER shows up in my account. I lose money every time and support is NO help at all. Avoid the app at all costs.

The app have never let me down. I recommend this to anyone who do online banking activities.