CIMB Singapore unveils FX Online platform to empower SMEs with seamless cross-border transactions and guaranteed* best exchange rates in ASEAN

FX booking* made available digitally to all SMEs without having to open a business account.

SINGAPORE, Aug. 12, 2025 /PRNewswire/ -- CIMB Singapore today unveils CIMB FX Online, a digital foreign exchange (FX) solution tailored to meet the cross-border trade payments needs of small and medium-sized enterprises (SMEs) at every stage of growth – from startups managing initial overseas vendor payments to mature businesses servicing international loans. CIMB FX Online also enables non-CIMB customers to instantly make a one-time FX booking without having to open a business account.

CIMB's FX solution offers guaranteed best exchange rates for Singapore Dollar (SGD) to Malaysian Ringgit (MYR), Indonesian Rupiah (IDR) and Thailand Baht (THB), real-time FX pricing, and zero FX fees for the first transfer. The platform gives businesses full transparency of live exchange rates, enabling them to transact confidently without hidden fees. With simpler, faster and more cost-effective ways to managing finances, CIMB helps SMEs address common pain points like high costs, limited transparency and frequent delays in overseas payments.

"At CIMB, we are constantly innovating to meet the evolving needs of Singapore SMEs as they set their sights on overseas expansion. CIMB FX Online underscores our commitment to helping SMEs thrive across markets with a more transparent and cost-effective way to manage regional transactions. Backed by our strong digital capabilities, deep regional expertise, and customer-first approach, we remain dedicated to empowering SMEs with the tools they need to grow with confidence," said Benjamin Tan, Head of Commercial & Transaction Banking, CIMB Singapore.

Existing CIMB Business Current Account holders can transact directly within the business banking portal, without needing to switch platforms. SMEs can trial FX Online for the first time without a CIMB business account, giving them an opportunity to have a first-hand experience of the service.

Key Features and Benefits*:

• Best exchange rates in ASEAN: Guaranteed best rates for SGD to MYR, IDR, and THB.
• Instant FX booking for non-customers: Enjoy a one-time FX booking without the need for a CIMB business account.
• Zero FX fees for first transfer: No hidden costs to help business owners reduce operating costs.
• Real-Time FX Rates: Full transparency of live exchange rates.
• Wide currency selection: Lock in preferred exchange rates for transactions in multiple currencies.
• Quick and secure platform: Seamless experience with an intuitive interface designed for easy navigation and secure transactions via Singpass MyInfo.

*Terms & conditions apply. For more information about CIMB FX Online, visit cimb.sg/fx-pr.  

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About CIMB

CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Singapore is one of its key markets with approximately 1,000 employees serving clients across consumer, commercial, wholesale and transaction banking products and services.

Beyond ASEAN, the Group has market presence in China, Hong Kong SAR and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

Sustainability is a core pillar of CIMB's Forward30 strategy and 2030 roadmap. The Group is guided by its Green, Social, Sustainable Impact Products and Services ("GSSIPS") framework, an internal taxonomy designed to deliver impactful sustainable finance. Since launching its sustainable finance framework in 2021, CIMB has progressively raised its ambitions, increasing its initial RM30 billion target to RM100 billion for 2021–2024. The Group now targets RM300 billion in sustainable finance by 2030, reinforcing its commitment to enabling a lower-carbon and more inclusive economy across the region.

SOURCE CIMB Singapore