Man thought he had $5,000 in his CIMB accounts, shocked to see $0 and -$29.05

Sherlyn Sim
The Times of the Strait
June 29, 2024
CIMB Singapore said its core banking systems and customer accounts were not compromised, after some customers reported having zero or negative balances in their accounts. In a response to media on the evening of June 29, the bank said the problem was due to a technical glitch, without elaborating. The bank said it had successfully cleared incoming and outgoing transactions, but that some transactions were not reflected in the bank account balances of a “small group of affected customers.” He added that all affected customers “will have their funds deposited into their account within the next 24 hours” and apologized for the inconvenience caused. Earlier in a Facebook post at 1:45 p.m., CIMB Singapore said it was aware of the disruption and was working to resolve it. “The root cause has been identified… We assure all our customers that your account is safe and we thank you for your understanding,” the statement said.

Logistics assistant Irman Suratnor told The Straits Times that he noticed two of his savings accounts had zero balances when he checked his banking app at around 12.30pm. A third account showed a negative balance of $29. The 42-year-old said he had about $5,000 in all three accounts. “It was shocking to see that my bank balance was $0. I thought the bank was being hacked,” he said. Mr Irman added that he was unable to make transfers and payments on his banking app. He said he contacted the bank for help, but his three accounts still showed zero or negative balances as of 7pm on June 29. He said: “It’s been a stressful day. I have bills and debts to pay today.” “How do I send money?” Several other people have shared similar experiences of zero or negative account balances on the bank’s Facebook page. In a Facebook update on June 30, CIMB Singapore said the majority of its affected customers had seen their transactions reflected in their bank accounts. It added that it was working with the remaining small group of affected customers, whose accounts require further verification, to resolve the issue. “We want to ensure that our core banking systems remain secure and our channels remain efficient,” the bank said. It added that it would provide updates on CIMB’s website and Facebook page.