CIMB rolls out FX platform for SMEs in ASEAN markets

Key features include guaranteed best exchange rates in ASEAN for Singapore dollar conversions to Malaysian ringgit.

CIMB has rolled out CIMB FX Online, a digital foreign exchange platform aimed at helping small and medium-sized enterprises (SMEs) manage cross-border trade payments more efficiently.

The service is open to both existing and non-CIMB customers, with the latter able to make a one-time FX booking without opening a business account.

Key features include guaranteed best exchange rates in ASEAN for Singapore dollar conversions to Malaysian ringgit, Indonesian rupiah and Thai baht, zero FX fees for the first transfer, and real-time pricing with full rate transparency.

The bank said the platform is designed to address common challenges SMEs face in overseas payments, such as high costs, limited transparency and delays. Existing CIMB Business Current Account holders can access the service directly through the bank’s business banking portal.

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