Regulatory Alerts2019-02-26
Added · Updated
Amendments to Automated Teller Machine Instructions No. 6/2018
The Central Bank of Saudi Arabia amends Article 4/A of the Automated Teller Machine Instructions No. 6/2018 to require dual network lines, satellite tracking chips for ATMs in public locations, and specific surveillance image retention. The amendments to Article 5 mandate that ATM cutters comply with CEN1 or equivalent standards, with a three-year regularization period for payment service providers. Additionally, Article 10 requires immediate transaction notifications via SMS or similar methods containing specific details, while Article 15 sets an 18-month deadline for providers to regularize their ATM status.
10/6/3271 21/ 06/1440 AH 26/ 02/2019 AD Circular to Licensed Banks
In light of feedback regarding the Automated Teller Machine Instructions No. (6/2018) dated 11/4/2018 (the Instructions), pursuant to our circular on this matter No. (10/6/13716) dated 21/10/2018, the following amendments to the aforementioned Instructions have been decided:
First: Amendment of Paragraph (3) of Article (4/A) to read as follows: Providing two network lines for the Automated Teller Machine from different providers, where possible.
Second: Amendment of Paragraph (6) of Article (4/A) to read as follows: Installation of a satellite tracking chip inside Automated Teller Machines installed in public places and outside branch buildings, enabling them to determine the location of the machine exposed to the risk of being uprooted, with the tracking device installed in a secure location inside the ATM that is difficult to access.
Third: Amendment of Paragraph (8) of Article (4/A) to read as follows: Storing images captured by surveillance cameras of Automated Teller Machines for time periods and according to the durations stipulated in our instructions on this matter.
Fourth: Amendment of Paragraph (T) of Article (5) to read as follows: Meeting the specifications of ATM cutters so that they comply at a minimum with standard (CEN1) or equivalent internationally accepted standards on this matter, and the payment service provider is committed to regularizing its status to comply with this clause within a period of three years from the date of issuance of these Instructions.
Fifth: Amendment of Paragraph (A) of Article (10) to read as follows: Informing the customer immediately of the financial transactions executed on their accounts using Automated Teller Machines, using an effective and clear notification method in either Arabic or English, such as Short Message Service (SMS), which must include at least the location, date, time of execution, value, and currency type of the transaction.
Sixth: Amendment of Article (15) to read as follows: Payment service providers are committed to regularizing the status of their Automated Teller Machines within (18) months from the date of issuance of these Instructions, taking into account Article (5/T) thereof.
Please accept our highest respect and appreciation,
The Governor Dr. Ziad Friez