Regulatory Alerts2000-03-06
Declined Bank Card Transactions at ATMs
The Saudi Arabian Monetary Authority mandates all banks operating in the Kingdom to immediately remove and refrain from imposing any restrictions on Saudi Payment Network card usage to restore network credibility and address customer complaints. Effective 5/12/1420 AH, non-compliant banks will be charged a 6.4 Saudi Riyal fee for each declined transaction that exceeds the Authority's normal threshold. This directive reinforces previous circulars and aligns with the Authority's ongoing review of network fees to ensure a balanced approach for all stakeholders.
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