Skip to main content
Custom print
Download Original PDF

Article [86]

Date(g): 13/6/2023 | Date(h): 25/11/1444 Status: In-Force

Effective from Jun 13 2023 - Jun 12 2023
To view other versions open the versions tab on the right

  1. The payment service provider shall not be responsible for any errors made by the payment service user when creating a payment, specifying the payee’s incorrect unique reference number or incorrect bank details.
  2. the payment service provider shall exercise due diligence to refund the amounts from the incorrect recipient and the recipient's payment service provider, and the payment service provider may charge the payment service user a fee to attempt to recover the amounts in accordance with the contract between the payer and the payment service provider. Moreover, the payee's payment service provider shall cooperate with the payer's payment service provider in order to recover the amounts, to the greatest extent possible.
  3. If the payer's payment service provider fails to recover the amounts, it shall, upon written request from the payer, provide the payer with all relevant information available so that the payer can claim a refund.
  4. The SAMA may request the payment service provider to take certain measures in accordance with the controls determined thereby, including refunding the amounts to the payer.