Regulatory Alerts2019-05-01
Cash Feeding Requirements for ATMs
The Saudi Arabian Monetary Authority (SAMA) mandates that banks conduct ATM cash feeding and counting cycles no longer than ten working days, while tailoring dispensing logic to site-specific customer needs by stocking a minimum of three denominations in internal branches and two in external locations. Banks must automate ATM balancing procedures or utilize test and supervisor cards to verify cash placement and enable immediate reconciliation by feeding teams at cash centers. Additionally, financial institutions are responsible for resolving box reversal errors and customer overpayment incidents, bearing the burden of proof in case of disputes, with SAMA conducting field inspections to ensure compliance.
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