Banking Tariff
No: 381000095093 Date(g): 4/6/2017 | Date(h): 10/9/1438 Status: In-Force The attached banking tariff replaced the tariff for banking services issued pursuant to Circular by the Central Bank No. (341000134319), dated 25/11/1434 H, corresponding to 29/09/2013 G.according to The Banking Control Law issued by Royal Decree No. M/5 dated 22/2/1386 H. and Ministerial Decision No. 3/2149 dated 14/10/1406 H regarding the implementation Rules for Banking Control Law. The Central Bank is authorized to set the maximum limit for banking fees on personal accounts and banking services that banks are allowed to charge their individual customers.
Attached is an updated version of the banking tariff and the accompanying instructions, which must be adhered to and implemented within three months from its date.
General Instructions
- The disclosure and transparency principle shall be applied, where all means will be used to inform the customer.
- Disclosing all tariffs at banks’ branches and on their websites in a clear and legible manner to be accessible to customers.
- The maximum banking tariff for banking services as illustrated in the table attached to this circular shall not be exceeded.
- Providing SAMA with all types of tariff or fees according to this circular at the beginning of each Hijri year (Muharram) to be disclosed on website.
- Utilizing banking tariff instructions to encourage the utilization of electronic channels and financial inclusion.
- Obtaining a prior approval from SAMA on tariff or fees for any services or products that are not included in this circular.
- Fees shall be within reasonable and competitive limits as compared with similar services that are conformed to the best applicable applications and practices.
- Not charging any fees associated with the services or products provided to customers except after customers' acceptance for the service and related fee.
- A bank, may opt not to charge any of the tariff set forth herein as it deems appropriate and consistence with its policy of providing services with fair competition.
- Apply the charging policies issued by SAMA for all payment systems (MADA\ SARIE \SADAD…etc.) and its services.
- SAMA will periodically review and update the banking tariff in accordance with approved and licensed products and its fees
Banking Tariff
The banking tariff sets the allowable maximum fees that a bank may, but not necessarily, charge individual customers and beneficiaries for services provided by the bank following their acceptance.
Banking Service Description.
Maximum Banking Tariff
1- Customer Accounts Free
a. opening an account
free b. Balance is less than required limit
None 2- Account statement
At branch:
a. statement for less than one year 25 SAR b. statement for1 - 5 years
30 SAR c. statement for more than five year
50 SAR Electronically (internet, telephone, ATM…):
a. Monthly statement by regular mail or email electronically
Free b. ATM mini statement electronically
free 3- Cash Withdrawal using a withdrawal Form at the Branch
Free 4- MADA ATM and POS Cards:
Free a. issuance of ATM card for a Free account
Free b. ATM cash withdrawal / deposit
Free c. Use of MADA cards at POS terminal by customers
Free d. Renewal of ATM card
Free e. Re-issuance of ATM card retained by an ATM
Free f. NAQAD service (purchase with cash back)
Free g. Re-issuance of ATM card (lost / damaged / 3 invalid passwords)
30 SAR h. issuance of an additional ATM card
30 SAR 5- Electronic Payment of Bills Government Services (SADAD):
a. Government services payment.
Free b. Payment of bills and services..
Free c. SADAD Account for online payment.
Free 6- Banking Transfer & services
At Branch:
a. Transfer to another account within the same bank
Free b. Setting up a standing payment order (one time)
15 SAR c. Transfer to another bank inside the Kingdom through SARIE (same day)
25 SAR d. Transfer to another bank inside the Kingdom through SARIE (forward)
15 SAR e. Transfer to a bank outside the Kingdom.
75 SAR f. Change/cancel transfer outside the kingdom
25 SAR Electronically (internet, telephone and ATM):
g. Transfer to another account within the same bank
Free h. identification of a beneficiary for fund transfer
Free i. Setting up a standing payment order (one time)
10 SAR j. Transfer to another bank inside the Kingdom through SARIE (same day)
7 SAR k. Transfer to another bank inside the Kingdom through SARIE (forward)
5 SAR l. Transfer to a bank outside Kingdom
50 SAR m. Change/cancel transfer outside kingdom
15 SAR 7- Checks
a. Issuance of a checkbook (25 checks)
Free b. Issuance of an additional checkbook (25 checks)
10 SAR c. Issuance of a bank check
10 SAR d. Revocation of a bank check
10 SAR e. Issuance of a bank check (foreign currency)
15 SAR f. Revocation of a bank check (foreign currency)
15 SAR g. Requesting a copy of a check dated to one year
10 SAR h. Requesting a copy of a check dated more than one year
20 SAR 8- GCCNet Transaction Fees
a. Cash withdrawal within Gulf countries
10 SAR b. Balance inquiry within Gulf countries
3 SAR c. Customer use of GCC cards at POS terminals within Gulf countries.
FREE 9. International Network Transaction Fees
a. Cash withdrawal for debit cards
25 SAR Cash withdrawal from credit cards
b. Withdrawal of SAR 5,000 or less
75 SAR c. Withdrawal of more than SAR 5,000
3% MAX 300 SAR d. Credit card dispute fee (if wrong dispute)
50 SAR e. Balance inquiry on ATM
3,5 SAR