Time Out Cash Retract on ATMs

In the Name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority Head Office

Banking Policies Department
Ref. No.: ....................................
Attachments: .................................

Circular

Ref. No.: 361000012427
Date: 24/01/1436 AH
Attachments: .................................

Subject: Discontinuation of the Cash Return Feature on ATMs

Dear Sir/Madam,

Peace, mercy, and blessings of Allah be upon you,

With reference to the Cash Return feature (Time-out Cash retract) on ATMs, which returns the dispensed amount to the ATM if it is not collected by the customer.

We inform you that, due to the emergence of several drawbacks associated with this feature, banks are required to discontinue the service effective January 1, 2015.

Yours sincerely,

Abdulaziz bin Abdulrahman Al-Halissi Deputy Governor for Supervision

Distribution Scope:

• Relevant Head Office departments.
• One copy to all banks operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Tel: 4633000 - Fax: 4662414