Regulatory Alerts2019-01-01
Circular No. 20 Suspension of ATM Cards in Case of Failure to Update Data
The Palestine Monetary Authority mandates that all banks implement a strict three-step notification protocol before suspending or holding customers' ATM cards for data update purposes. Banks must send at least three alerts spaced a minimum of one week apart, ensure these notifications appear on the ATM screen during usage attempts, and only execute the suspension after the required period elapses. Once customers update their information, the suspended cards must be promptly returned in accordance with standard procedures.
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