Regulatory Alerts2019-11-12
ATM Service Level Agreement (Second Edition)
The Saudi Central Bank mandates all member banks to adopt and sign the updated ATM Service Level Agreement (Second Edition) effective January 1, 2021, to enhance electronic banking service standards. Financial institutions must submit monthly reports aligned with the agreement's new mechanisms and clauses starting April 1, 2020, while continuing current reporting until full implementation in 2021. Banks are required to return the signed agreement to the Authority within two weeks of receipt to ensure immediate regulatory compliance.
In the name of Allah, the Most Gracious, the Most Merciful
Saudi Central Bank Head Office
Circulating Currency Supervision Department
Date: 1441/07/15 Ref: 41932 / 227 Attachments:
Subject: ATM Service Level Agreement (Second Edition)
Circular
Dear Sir,
Greetings,
Pursuant to the Saudi Arabian Monetary Authority System issued by Royal Decree No. 23 dated 23/05/1377 AH, the Banking Control System issued by Royal Decree No. M/5 dated 22/02/1386 AH, and with reference to Circular No. 341000110148 dated 10/09/1434 AH regarding the issuance and signing of the ATM Service Level Agreement.
We attach herewith two copies of the approved ATM Service Level Agreement (Second Edition), which aims to elevate and improve the ATM service level, considering it one of the most important electronic channels used to conduct various banking services. Accordingly, the Agreement (Second Edition) will be applied to all ATM services effective from 01/01/2021, and compliance with it and its subsequent updates will be enforced. Therefore, we request that you sign it and return it to the Authority within a period not exceeding two weeks from the date of receipt.
Please note that the Bank is required to submit monthly reports in accordance with the new mechanisms and clauses outlined in the Agreement (Second Edition) effective from 01/04/2020, while continuing to submit reports for the current Agreement as per established procedures until the full implementation of the new Agreement begins at the start of 2021.
Yours sincerely,
Hashem bin Othman Al-Haqeel Deputy Governor for Financial Sector Development
Copy to: Distribution Scope:
- One copy to member banks of the Saudi Payments Network (17 banks).
- One copy to the General Department of Banking Supervision.
- One copy to the Financial Executive Department.
- One copy to the General Department of Branches and Cash Centers on file.
P.O. Box 2992, Riyadh 11169, Phone: +966 11 4633000 - Fax: +966 11 4662277 - Email: multibankcashcenter@sama.gov.sa