Update the Account Opening Rules by Adding the Visitor ID

P.O Box 2992 Riyadh 11169 Kingdom of Saudi Arabia Tel: +966 11 463 3000 Classification:
Circular
Dear Sirs,
Peace, mercy, and blessings of God be upon you.
Subject: Update the Account Opening Rules by Adding the Visitor ID Document.

Reference is made to the Account Opening Rules communicated under Circular No. 67/15681 dated 1/11/1440 AH, and to enable visitors holding a Visitor ID to open bank accounts in the Kingdom, we hereby notify you that the Account Opening Rules have been updated by adding the Visitor ID document, according to the attached format; as follows:

• Adding Visitor ID under Item No. (3-1) of Rule No. (1), and Item No. (2-1-3) of Rule No. (3) in Part Two, and under Rule No. (3) of Rule No. (100) in Part Three.
• Removing the exception stated in Sub-paragraph No. (6) of Rule No. (3) of Rule No. (100) in Part Three.
• Updating the title of Item No. (3-1-200) "Expatriates and Residents in the Kingdom" from Rule No. (200) of Part Three to "Expatriates, Visitors, and Residents in the Kingdom".
• Adding a sub-paragraph under Item No. (3-1-200) of Rule No. (200) of Part Three regarding "Visitors to the Kingdom holding a Visitor ID".

Effective from its date.
For your information and action, please accept my regards, Yazid bin Ahmed Al-Sheikh Deputy Governor for Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.

P.O Box 2992 Riyadh 11169 Kingdom of Saudi Arabia Tel: +966 11 463 3000 Classification:
Update the Account Opening Rules by Adding the Visitor ID Document

• Item No. (3-1) "Non-Saudi Natural Persons" from Rule No. (1) "Electronic (Automated) Registry":

• The Bank shall establish a special electronic registry for non-Saudi natural persons, containing at least the following data:
  a- Full name or Visitor ID. Written in the same language as the passport or residence document (Arabic - English - Latin letters). If written in another language or letters, the name shall be recorded according to the visa granted by Saudi embassies and consulates. b- Nationality. c- Residence ID or Visitor ID number and its validity date. d- National address (in case of residence), residential address in the Kingdom, and visitor's home country address (in case of visit). e- Contact details. f- Employer (if applicable).

• For those holding five-year residence cards issued to certain tribal members, the name shall be recorded in full along with its number and validity date.

• Expatriates holding Saudi passports may not open bank accounts under those passports unless approved by the Ministry of Interior through the Central Bank."

• Item No. (2-1-3) "Non-Saudi Natural Persons" from Rule No. (3) "Freezing Bank Accounts upon Document Expiry":
  Banks shall freeze all accounts... Expatriates' accounts must also be closed upon final departure. These documents are:

• National ID for Gulf Cooperation Council (GCC) citizens.

• Residence document for expatriate nationals, and Visitor ID document.

• Diplomatic card for diplomats.

P.O Box 2992 Riyadh 11169 Kingdom of Saudi Arabia Tel: +966 11 463 3000 Classification:

• Rule No. (3) "Regulations for Opening Bank Accounts for Natural Persons Remotely" from Rule No. (100) "General Instructions on Opening Bank Accounts":

1. Banks shall not allow remote bank account opening for customers who already have existing accounts with the same bank.
2. The service is provided to citizen individuals (holding National ID), residents (holding Residence document), and visitors (holding Visitor ID).
3. Customer identity must be verified using documents, data, or information from a reliable and independent source. The bank itself bears the responsibility for verification.
4. Banks shall assess risks associated with these accounts and establish policies and procedures to mitigate them periodically. They must develop and implement preventive measures commensurate with risk assessment results.
5. Establish a clear and secure mechanism to activate the ATM/debit card for the bank account.
6. The customer shall provide the documents and requirements referenced in Rule No. (2) above, except for the signature form (personal signature, thumbprint, or personal seal) which the customer will use in transactions with the bank.

• Adding a sub-paragraph under Item No. (3-1-200) "Expatriates, Visitors, and Residents in the Kingdom" from Rule No. (200) regarding "Visitors to the Kingdom holding a Visitor ID":
  "Visitors to the Kingdom holding a Visitor ID:
  A bank account may be opened for visitors after obtaining a copy of the Visitor ID issued by the Ministry of Interior, their residential address in the Kingdom, their home country address, and the purpose of visit. Banks shall not provide products or services exceeding the document's end date and the visit's duration. Additionally, banks must obtain a guardian or custodian's approval to open an account when the visitor is a minor."

End of circular...