CIMB increasing their deposit requirement from 5K to 100K to avail debit card

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They updated their Product Disclosure Sheet yesterday: https://www.cimbbank.com.ph/content/dam/cimbph/pds/Fast-Plus-Account-PDS-15022021.pdf

I am speculating that they are increasing the requirement to subsidize the free withdrawals from Bancnet ATMs (considering it still says waived charges on withdrawals and balance inquiries). Increasing it probably allows them to reduce expenses for incoming customers and encourages higher deposit levels (more revenue to subsidize their expenses). We'll see in the coming weeks if this is the case.

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scienceguy98

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Posted: 3 years ago
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